Does anyone else have this happen? I have been carrying a BT on my Platinum card and I logged into the app and noticed this.
I actually checked the statement and sure enough, it says $0. The statement before that said $31, the prior one said $0 and the one before that was $42.
I don’t understand how I am having months with no minimum and I was curious if anyone else has noticed this. I started out with a ~$2300 BT onto the card which I’ve been paying off in large payments but one of my payments was only $100 which was the payment made when $42 was the minimum so I don’t really understand how they are cutting $0 minimums? It’s not like I’m paying close to the statement cut either, my payments are due on the 14th and I pay them between the 2nd and the 4th of the month.
Has anyone else noticed this behavior?
Yes i have seen this. It seems like a nice thing to do , especially if you paid alot more than needed previous month. I havent seen alternate months though. To not have any issues, i make payments anyway
I dont have NFCU but my main CU if I overpay the minimum in a month it covers payments due in subsequent months or reduces followin month if I dont pay enough to cover that months minimum. There were commercial banks that even operated this way in the latter part of the 20th century.
Mine does the same thing and I actually called Navy about it. I pay way more than the minimum every month trying to get my balance down. And they said it's because of the size of the payments I am making. So I have that leeway every other month to not pay. That defeats the whole purpose of making larger payments so I pay it anyway but it's nice to know the option is there if needed.
@Anonymous wrote:I can’t imagine that NFCU is asking for no payment and then coming after people who don’t pay one but it definitely flies in the face of conventional credit card wisdom and I thought the minimum was essentially required by law since the CARD Act requires them to disclose how long it will take you to pay off your balance if you pay the minimum?
I mean if this was intentional then it would seem like NFCU is hoping you’ll skip payments and end up paying them interest which is shady as heck and I don’t want to believe they would do.
Also I specifically asked if it said no payment due and I didn't make a payment that there would be no penalty or issues. He said correct. So I wouldn't worry about it.
USAA offers the same thing. It's called their "Pay Ahead" program. If you pay more than the minimum payment in any given month they give you a reduced or $0 minimum paymwnt due for up to the next two statements. It is explained on the statement itself indicating what the minimum due would have been had you not paid more than was due the previous month(s). My statement has always had a minimum due of $0 for the last 2 years as I always pay way more that what would actually be due. I have never actually "skipped" a payment but it's nice to know the option is there should I ever decide to use it. YMMV.
