Well I have really stepped in it... I made 2 payments on my Citi Thank You Premier card over the weekend, and both were returned by my bank, due to a msitake on my part. Does anyone have experience with Citi and returned payments? Do they reattempt to withdraw them if they fail? Do they automatically trigger the penalty APR? I have had this card for nearly three years with no late payments or returned payments, but I did get CLD'd about a year ago.
$7.5K 
$23K 
$5k 
$300(SEC) 
$500 
$300 
$1,500 
$800 
$800
The payment was not late. It was just an extra payment (ok 2 extra payments). The payments were returned for Insufficent funds.
The CLD a year ago was from a decline in my credit score and an increase in overall balances.
The CLD a year ago was from a decline in my credit score and an increase in overall balances.
Awesome. I'll post what happens as soon as they notice it was returned. I usually make about 5 payments each month, so they know I can pay my bills. For the past few months, I have spent about $3k on the card each month and paid it off. Thanks for the responses so far.
If you had a payment returned then Citi will add the Bounced/Returned Check fee to your account. In my opinion it is a really poor way to spend $25 on each. Now mistakes happen so you might be able to talk to them about it to have it reduced. The real problem happens when you pass through the due date as that is when interest starts calculating for your purchases because the grace period expires. 30 days after the due date if you have not paid the minimum then a 30 late will be added to your CR and these increase in 30 day increments until a 120 is added. Now if you pay before the 30 shows up you just get charged interest since reporting negative info is counterproductive. If you are still before the due date then cut a quick check that can pay the amount due so you keep the grace period and avoid interest.
Well Citi charged me 2 fees of $27 each. On top of this, they re attempted to withdraw the money from my account for both payments. Both payments successfully went through on their second attempts. I called and requested a courtesy refund, so I'll see if they actually refund the fees. I haven't seen any indication of an APR change yet.