@Anonymous , if you paid after 5 pm EST, that could be why.
They cover it under same day payments section 🤷♀️
@Remedios wrote:
@Anonymous wrote:Look for any specifics how they process payments. Perhaps it's "payment must POST by the due date" or similar language. I've sent payments late in the day (on a business day) and I no longer had the option to submit it for that day, despite looking at the calendar and clearly seeing I wasn't hallucinating. They'll try anything to make more money off of you.
Some creditors don't accept payments on Sundays. Some creditors don't let you date a payment for weekends, period. What you likely received was a COURTESY, not a correction. Some of what is done in the name of good PR is not because the company was not adhering to their processes, but simply because they were called out on it.
I have never heard of a "revised statement" being cut, as it would be unethical to pretend that this didn't happen. You received a charge on this past statement, and you'll see the credit on the next one. That's their way of reconciling. They cancel each other out only when YOU add them together, but they don't disappear. Whatever the circumstances that led to this, we can fully expect a repeat of the same would lead to another late fee. There is a reason why you may have one due date printed on your bill, but say you enabled Auto Pay (I'm not saying you have to) you would notice that the Auto Pay debit date is often up to a WEEK before your actual due date.
I don't think any amount of arguing is going to change how Citi honors payments submitted ON the due date. It's electronic and no one noticed until a human called another human on it. There's nothing they can do to change billing for your account only, unfortunately, and changing it for everyone would dry up an apparently very lucrative source of revenue. You can pay on the same day and request a new one a few days out, going forward, if it's a matter of lining up with other credits/debits in your personal accounts, but just like you won't see anyone "negotiate their contract" with Citi, they are very much take-it-or-leave-it in this respect, as well.
@Anonymous wrote:So I've had my Citi account for years, never late, never paid a penny of interest, etc. I usually pay it a day or two before the due date, but in July I paid it on the due date, 7/24. The previous statement balance was ~$300 and the current balance was ~$1300. I paid off the current balance (no pending charges) to take the account down to a $0 [reported] balance. When the statement cut a few days later I noticed a $29 late fee along with a dollar and change interest. I contacted CS, showed them the time-stamped email that proved I didn't pay late and they immediately credited me back the $29 and dollar whatever interest.
Maybe it's just semantics and I'm griping over something not major here, but I requested a revised July statement not showing those issues and they basically say they can't do that. It's not about the money obviously, as I already got that back... it's about me not having any blemishes at all on my account, even if it's just internal Citi stuff. As of now it still looks like I was late, simply that the fees were waived. But, I wasn't late, which they agree to, so I shouldn't have a statement (in writing) that still suggests I was late. Any suggestions here? Should I write the EO? They've been helpful/responsive to me in the past. Just forget about it? As an aside, I wanted the account to report $0 that month and it ended up being reported at ~$1300 prior to the payment being included... just something to further irritate me a tad
How are they looking to make more money off of you if you have 25 days to pay.
Opting to pay on a due date is a choice, not some evil lender trickery.
Picking an unreasonable, arbitrary cutoff time for same-day crediting is a choice, too.
25 days is the grace as it should be. Legally, they can't penalize you for being late within the grace period, but the grace period is stated in days, not hours. It is well known that every month, there will be a significant number of people paying on exactly the due date. It's like the sun rising, it's to be expected.
What if the water company's office stayed open 9-5 every day, but only credited payments same-day until 3 PM, and charged customers a late fee for bringing their money from 3 PM - 5 PM? That would be a solidly arbitrary, senseless choice to penalize customers and generate punitive revenue. In a world of instant payments, the US is terribly behind in adopting new payment methods. Ever think of why you can ONLY make payments on credit products with things that either take an indeterminate time in the US mail, or take days to post? I'm sure OP knows.
I just checked mine:
January 22 statement, Due Date Feb 20
Feb 24 statement, due date March 20
March 23 statement due date April 20
The only card I have with due date = statement date is Apple Card, last day of the month.
@Anonymous wrote:
@Remedios wrote:
@Anonymous wrote:Look for any specifics how they process payments. Perhaps it's "payment must POST by the due date" or similar language. I've sent payments late in the day (on a business day) and I no longer had the option to submit it for that day, despite looking at the calendar and clearly seeing I wasn't hallucinating. They'll try anything to make more money off of you.
Some creditors don't accept payments on Sundays. Some creditors don't let you date a payment for weekends, period. What you likely received was a COURTESY, not a correction. Some of what is done in the name of good PR is not because the company was not adhering to their processes, but simply because they were called out on it.
I have never heard of a "revised statement" being cut, as it would be unethical to pretend that this didn't happen. You received a charge on this past statement, and you'll see the credit on the next one. That's their way of reconciling. They cancel each other out only when YOU add them together, but they don't disappear. Whatever the circumstances that led to this, we can fully expect a repeat of the same would lead to another late fee. There is a reason why you may have one due date printed on your bill, but say you enabled Auto Pay (I'm not saying you have to) you would notice that the Auto Pay debit date is often up to a WEEK before your actual due date.
I don't think any amount of arguing is going to change how Citi honors payments submitted ON the due date. It's electronic and no one noticed until a human called another human on it. There's nothing they can do to change billing for your account only, unfortunately, and changing it for everyone would dry up an apparently very lucrative source of revenue. You can pay on the same day and request a new one a few days out, going forward, if it's a matter of lining up with other credits/debits in your personal accounts, but just like you won't see anyone "negotiate their contract" with Citi, they are very much take-it-or-leave-it in this respect, as well.
@Anonymous wrote:So I've had my Citi account for years, never late, never paid a penny of interest, etc. I usually pay it a day or two before the due date, but in July I paid it on the due date, 7/24. The previous statement balance was ~$300 and the current balance was ~$1300. I paid off the current balance (no pending charges) to take the account down to a $0 [reported] balance. When the statement cut a few days later I noticed a $29 late fee along with a dollar and change interest. I contacted CS, showed them the time-stamped email that proved I didn't pay late and they immediately credited me back the $29 and dollar whatever interest.
Maybe it's just semantics and I'm griping over something not major here, but I requested a revised July statement not showing those issues and they basically say they can't do that. It's not about the money obviously, as I already got that back... it's about me not having any blemishes at all on my account, even if it's just internal Citi stuff. As of now it still looks like I was late, simply that the fees were waived. But, I wasn't late, which they agree to, so I shouldn't have a statement (in writing) that still suggests I was late. Any suggestions here? Should I write the EO? They've been helpful/responsive to me in the past. Just forget about it? As an aside, I wanted the account to report $0 that month and it ended up being reported at ~$1300 prior to the payment being included... just something to further irritate me a tad
How are they looking to make more money off of you if you have 25 days to pay.
Opting to pay on a due date is a choice, not some evil lender trickery.
Picking an unreasonable, arbitrary cutoff time for same-day crediting is a choice, too.
25 days is the grace as it should be. Legally, they can't penalize you for being late within the grace period, but the grace period is stated in days, not hours. It is well known that every month, there will be a significant number of people paying on exactly the due date. It's like the sun rising, it's to be expected.
What if the water company's office stayed open 9-5 every day, but only credited payments same-day until 3 PM, and charged customers a late fee for bringing their money from 3 PM - 5 PM? That would be a solidly arbitrary, senseless choice to penalize customers and generate punitive revenue. In a world of instant payments, the US is terribly behind in adopting new payment methods. Ever think of why you can ONLY make payments on credit products with things that either take an indeterminate time in the US mail, or take days to post? I'm sure OP knows.
How is it unreasonable to apply a cutoff time? People should be avoiding the due date as the date to pay their bills. If something happens and you end up late, you have nobody to blame but yourself for waiting so long to pay. All but like three of my due dates are the 21st-23rd and I pay all of my cards every month on the 3rd so that if there is a system glitch or maintenance or whatever, I have plenty of time to make a payment.
Considering that most banks close around 5-6PM, a 5-6PM cutoff time makes total sense to me.