topic Re: Small balance write-off how small is small? in Credit Cards

Small balance write-off how small is small?

Christina_xyt — Sun, 06 Sep 2015 13:15:25 GMT

I received a bday card $10 from Victoria's secret and use it and extra 2.5 on my vs store card. Was going to pay after the statement date cos I wanted it to report since I rarely have a chance to use the card. Then I found zero balance on statement date.... Then I realize they write it off.. But 2.5$ isn't that small in my opinion....

So how small is small?

And discover will write off balance within how much?

Re: Small balance write-off how small is small?

FinStar — Sun, 06 Sep 2015 18:08:37 GMT

Most lenders have different "small" balance write-off guidelines. And, not every lender will write them off. So, an account can potentially generate a statement with something to the tune of ~$1.00

Re: Small balance write-off how small is small?

Open123 — Sun, 06 Sep 2015 18:22:41 GMT

What?

So, I can leave a balance of, say, $0.50 cents per account and have it written off? I never realized this occurs.

Re: Small balance write-off how small is small?

FinStar — Sun, 06 Sep 2015 18:31:52 GMT

@Open123 wrote:
What?

So, I can leave a balance of, say, $0.50 cents per account and have it written off? I never realized this occurs.

Again, not every lender writes them off. But if you prefer to be the guinea pig and test residual $0.50 cent balances to see which lender does or doesn't write them off, go for it. This could help the OP.

Re: Small balance write-off how small is small?

NRB525 — Sun, 06 Sep 2015 18:35:47 GMT

Not my Citi Diamond Preferred. I ended up with a library late fee of $0.10, decided to pay it with the Diamond Preferred, and the statement cut with 10 cents.

Re: Small balance write-off how small is small?

NRB525 — Sun, 06 Sep 2015 18:39:27 GMT

@FinStar wrote:
@Open123 wrote:
What?

So, I can leave a balance of, say, $0.50 cents per account and have it written off? I never realized this occurs.
Again, not every lender writes them off. But if you prefer to be the guinea pig and test residual $0.50 cent balances to see which lender does or doesn't write them off, go for it. This could help the OP.

Yes, you can try to leave small balances on your CC statements to see what happens.

Another poster several months ago complained of AA from a bank, Discover I believe, and one of the behaviors that poster was engaging in with that bank was small balance transfers to the card that the CCC would proceed to write off. Multiple such small transfers over time. Perhaps not a direct link to the AA, and it would have to be a volume of such transfers, but it's one of those things that makes one go... O_o

Re: Small balance write-off how small is small?

OmarGB9 — Sun, 06 Sep 2015 18:44:15 GMT

^i think when you engage in an unusual behavior like that you're just asking to be scrutinized.

Re: Small balance write-off how small is small?

kdm31091 — Sun, 06 Sep 2015 18:46:12 GMT

@NRB525 wrote:
@FinStar wrote:
@Open123 wrote:
What?

So, I can leave a balance of, say, $0.50 cents per account and have it written off? I never realized this occurs.
Again, not every lender writes them off. But if you prefer to be the guinea pig and test residual $0.50 cent balances to see which lender does or doesn't write them off, go for it. This could help the OP.
Yes, you can try to leave small balances on your CC statements to see what happens.
Another poster several months ago complained of AA from a bank, Discover I believe, and one of the behaviors that poster was engaging in with that bank was small balance transfers to the card that the CCC would proceed to write off. Multiple such small transfers over time. Perhaps not a direct link to the AA, and it would have to be a volume of such transfers, but it's one of those things that makes one go... O_o

Which is why I would not intentionally and repeatedly do this. It's such a small gain anyway. I mean is it really worth it?

Re: Small balance write-off how small is small?

NRB525 — Sun, 06 Sep 2015 18:54:24 GMT

It depends on how much you value $2 I guess.

Re: Small balance write-off how small is small?

Anonymous — Sun, 06 Sep 2015 18:54:39 GMT

Just pay the balance since it is legitimately yours. Sometimes we play little games that come back to bite us not necessarily directly but somewhere else later like a trivial bill with a trivial balance that we never got or knew about. And then bam, our score drops a lot. The universe seems to have a way to balance things out if we play with our integrity, particularly over trivial stuff. Not saying you're doing that, but still.

Re: Small balance write-off how small is small?

FinStar — Sun, 06 Sep 2015 19:34:44 GMT

@kdm31091 wrote:
@NRB525 wrote:
@FinStar wrote:
@Open123 wrote:
What?

So, I can leave a balance of, say, $0.50 cents per account and have it written off? I never realized this occurs.
Again, not every lender writes them off. But if you prefer to be the guinea pig and test residual $0.50 cent balances to see which lender does or doesn't write them off, go for it. This could help the OP.
Yes, you can try to leave small balances on your CC statements to see what happens.
Another poster several months ago complained of AA from a bank, Discover I believe, and one of the behaviors that poster was engaging in with that bank was small balance transfers to the card that the CCC would proceed to write off. Multiple such small transfers over time. Perhaps not a direct link to the AA, and it would have to be a volume of such transfers, but it's one of those things that makes one go... O_o
Which is why I would not intentionally and repeatedly do this. It's such a small gain anyway. I mean is it really worth it?

Exactly. IIRC there wa a poster a while back who tried doing something similar (given people told him why not?). Poster assumed another lender would write the balance off, guess what - they did not. Poster forgot about the bill only to come back later to the forums (via rant) because the lender had assessed, not only interest but late fees on top of that - and the lender did not budge! Account was almost reported 30 days late. So as NRB and kdm pointed out... is it really worth it in the end?

Re: Small balance write-off how small is small?

myjourney — Sun, 06 Sep 2015 19:56:47 GMT

I mean really over the course of a year .how much can you net from this process $1.50? Seriously come on now?

Really not worth pinching pennies at all

Everyone has a piigybank, change cup, car console where we throw loose change and forget about it let's face it.

So pay it no matter what the amount and move on ....

Lets face it deposit that loose change in the bank twice a year and you'll probably net more from that process

Re: Small balance write-off how small is small?

CreditUnionFan — Mon, 07 Sep 2015 13:47:19 GMT

I tried an experiment with FIA Card Services... on an Interval International Visa that I've had open for several years. I hadn't used it much, so put a 99 cent purchase on it.

I figured they would either write off the small balance, or I'd get to show activitiy for 99 cents.

They sent me a bill for 99 cents, and BillPay Choice (BoA branded) wouldn't allow a bill payment below a dollar. So, I let Santander pay them the 99 cents.

Re: Small balance write-off how small is small?

Anonymous — Mon, 07 Sep 2015 14:09:21 GMT

This happened to one of my cards a few months ago. I don't remember which one it was, maybe QS1? Anyway, somehow my statement cut with a balance of like 70 cents. They wrote it off. I still feel guilty about that. If they would let me pay them the 70 cents, I would do it.

Re: Small balance write-off how small is small?

DantGwyrdd — Mon, 07 Sep 2015 19:06:09 GMT

Capital One wrote off a couple of 20-40 cent balances I ended up with when I PIFed before all my pendings posted and which, since I was abroad at the time and the charges were in a foreign currency, changed slightly when they actually posted (due to currency conversion).

Re: Small balance write-off how small is small?

Christina_xyt — Tue, 08 Sep 2015 02:56:33 GMT

What everyone talks about is a real small amount less than a dollar but why did they write of my 2.5$?? I think it's a lot! All I wanted is for my card to report a balance because I probably only use the card like twice a year .........

Re: Small balance write-off how small is small?

kdm31091 — Tue, 08 Sep 2015 10:38:35 GMT

@Christina_xyt wrote:
What everyone talks about is a real small amount less than a dollar but why did they write of my 2.5$?? I think it's a lot! All I wanted is for my card to report a balance because I probably only use the card like twice a year .........

Why don't you just make the statement be closer to $5 or $7 etc? They aren't going to write that off...solves your problem.

Re: Small balance write-off how small is small?

Callandra — Tue, 08 Sep 2015 15:09:43 GMT

@FinStar wrote:
@kdm31091 wrote:
@NRB525 wrote:
@FinStar wrote:
@Open123 wrote:
What?

So, I can leave a balance of, say, $0.50 cents per account and have it written off? I never realized this occurs.
Again, not every lender writes them off. But if you prefer to be the guinea pig and test residual $0.50 cent balances to see which lender does or doesn't write them off, go for it. This could help the OP.
Yes, you can try to leave small balances on your CC statements to see what happens.
Another poster several months ago complained of AA from a bank, Discover I believe, and one of the behaviors that poster was engaging in with that bank was small balance transfers to the card that the CCC would proceed to write off. Multiple such small transfers over time. Perhaps not a direct link to the AA, and it would have to be a volume of such transfers, but it's one of those things that makes one go... O_o
Which is why I would not intentionally and repeatedly do this. It's such a small gain anyway. I mean is it really worth it?
Exactly. IIRC there wa a poster a while back who tried doing something similar (given people told him why not?). Poster assumed another lender would write the balance off, guess what - they did not. Poster forgot about the bill only to come back later to the forums (via rant) because the lender had assessed, not only interest but late fees on top of that - and the lender did not budge! Account was almost reported 30 days late. So as NRB and kdm pointed out... is it really worth it in the end?

I don't remember this! lol But really, it's not worth it to "play games" with the bank (obviously I'm not referring to those who have left tiny balances by mistake for any reason); just pay the balance in full and if you want a balance to report, charge at least $5+.

Re: Small balance write-off how small is small?

Open123 — Tue, 08 Sep 2015 15:12:48 GMT

@kdm31091 wrote:
@Christina_xyt wrote:
What everyone talks about is a real small amount less than a dollar but why did they write of my 2.5$?? I think it's a lot! All I wanted is for my card to report a balance because I probably only use the card like twice a year .........
Why don't you just make the statement be closer to $5 or $7 etc? They aren't going to write that off...solves your problem.

Hahaha...Well, if you try this, and it works, please do share. Now I'm thinking, $5 per month, and $60 per year, and $600 per decade. I need this card!

*Edited* PS - It would be too perfect if this worked on BofA's Balance Rewards!

Re: Small balance write-off how small is small?

SunriseEarth — Tue, 08 Sep 2015 17:54:29 GMT

@NRB525 wrote:
@FinStar wrote:
@Open123 wrote:
What?

So, I can leave a balance of, say, $0.50 cents per account and have it written off? I never realized this occurs.
Again, not every lender writes them off. But if you prefer to be the guinea pig and test residual $0.50 cent balances to see which lender does or doesn't write them off, go for it. This could help the OP.
Yes, you can try to leave small balances on your CC statements to see what happens.
Another poster several months ago complained of AA from a bank, Discover I believe, and one of the behaviors that poster was engaging in with that bank was small balance transfers to the card that the CCC would proceed to write off. Multiple such small transfers over time. Perhaps not a direct link to the AA, and it would have to be a volume of such transfers, but it's one of those things that makes one go... O_o

Excellent point. And clearly, we wouldn't recommend that anyone leave micro-balances with the goal of having them written off.

I've left micro-balances on my Wal-Mart card (one interesting observation: balances of less than $1 are rounded down to $0 on your CRs). However, for Wal-Mart, they are not written off. They are still due and cannot be paid using the Payment option within their credit website (they do not process payments of less than $1). In those cases, you'd either need to pay in-store or add more charges, so you can have a "current balance due" that is over $1. You could probably also push payment from your bank or mail a check, but I'm not sure if phone payment is an option.