Late Fee on Due Date? What the heck Chase!

[Comp5569]

Something I do, is as soon as the statement cuts, I pay at least the minimum just to get it out of the way.  Who knows whats going to happen throughout the course of the month.  Maybe you will just forget about it or something more serious could arise.

By paying the minimum as soon as the statement cuts, I eliminate the fear of missing the payment.  I PIF nearly every month, however with certain months, like this month for example, I put my tuition on my credit card.  Its 0% so I don't have to worry about PIF right away, however I still like the feeling of knowing I won't accidentally miss the payment.  We are all human afterall.  

Try it out, it feels good!  haha

[preci0uz]

I like using mint.com, because I can track all the balances on my cards and it reminds me about CC payments approching.

[score_building]

me too.  i know yodlee is popular but i prefer mint.com so far.  it seems to have a slightly less clunky, cleaner interface, imho.  and love the reminders, which are usually just that.  they rarely if ever are necessary but i like having them in the instance that something slips by.

[Anonymous]

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@bamagirl1 wrote:
I think Chase is one of the companies you have to pay by like 3pm EST on the due date or if not it's late..You may want to go to the pymt page and look, alot of times it's on the page..

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For Chase, you need to pay by 4pm EST for the payment to post that day.

My trick for dealing with this is to treat the statement close date as my due date and set up the payment the night before or that morning.  While this is rarely perfect, and I often have a small ($20-$50) balance on my statement, it causes the card to report a much smaller balance.  If, due to payments posting on the close date, I end up with a small statement balance, a few days later I pay the total current balance (Not the statement balance).  Basicallyt, whenever I pay a card (2-3 times a cycle) I pay as much as they will let me.  It just sucks when I know there are pending charges and I can't pay them before they post.

I know the close dates of my most active credit cards, but not the due dates.  The less active ones are the ones I use once or twice a month to keep them active, and I pay them as soon as the statement posts. As long as the due date isn't less than a week after the closer date, I will never be late.

Message Edited by Mike14 on 01-30-2009 07:25 PM

[Schoolbuskid]

hey thanks guys for the wonderful information because i did  not know you  had to pay by a certain time and usually i pay on the 1st of each month but i didnt for january. They've screwed me a couple of times with some payments but they adjusted fees to make up for it. I so ready to get this card paid off.

Message Edited by Schoolbuskid on 01-31-2009 10:24 AM

[marty56]

A little off topic but if you use your bank/cu's Bill Pay, make sure that they pay electronically and not sending a check in the mail.  My CU recently switched to another company and now sends the check by mail.

I dumped the Bill Pay and am usng the CC's online bill payment.