Really Confused....

[Anonymous]

Ok, so my Wells Fargo CC bill was supposed to be due 1/23. I even get a bill in the mail for it.

Before I go to pay it, I log into my CC account and see there is NO due date.

"Your account is current, no payment is due. Your next payment due date is not yet scheduled."

Confused, I called WF and asked what the heck was going on.

Here is what I would do...

I have a $300 CL, so I would run $200-$300 through it (cell phone bill, cable bill, debt payments, etc), then when my paycheck comes, I would pay in full.

Since using a CC is supposed to be safer than a debit card (0 liability, easy to dispute charges, etc), I would use my CC for as many bills as possible.

However, the rep said that paying down my account 2-4 times per month could result in the "account being screwed up", and doing this too many times could "result in the account being closed".

He said making too many payments in one month resets the billing data and results in due dates being removed, amount due's being different, etc.

So what am I supposed to do, just rack up $300 on it, and pay it off the min each month while being charged interest? I don't think so.

I would think regardless of the payments I make to the account, and the charges I make, would have NO EFFECT on the due date.

[titanofold]

Well, the CSR was wrong, kind of.

You're making your payments. That will satisfy the "Pay at least $X by [Some Date]".

If you have a balance when the statement is generated, then it will properly state how much you need to pay and when you need to pay it by. However, because it is generated several days prior and sent in the mail, it doesn't accurately reflect what you owe right this very second.

You account is unlikely to be closed. Suspended, maybe, but you would have to do an outrageous amount of spending on the card before that would become a concern.

[Revelate]

That CSR is likely wrong on a number of factors.

If you pay once in a given month when you have an outstanding due date, if it's more than the minimum, it will push the due date out.  That's true with BOFA, Amex, Chase, and every other lender I'm aware of.

If you pay multiple times in a month this'll happen, or if you pay early it'll happen.  I wouldn't worry about it.

Also there's a grace period anyway which it sounds like you're not even close to hitting on the assumption that you're being paid more than once a month.

In short I wouldn't worry about it, though I'm a big proponent of only paying once a month it shouldn't really be a factor.

[Anonymous]

Do some people run everything through thier CC, or is it better to use the debit card besides?

[Revelate]

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@Anonymous wrote:

Do some people run everything through thier CC, or is it better to use the debit card besides?

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I haven't used my debit cards in 2 years.  Not once.

[Anonymous]

I also haven't used a debit card in a long time.  Once you have a decent rewards card there is no need to.

[titanofold]

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@Revelate wrote:

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@Anonymous wrote:

Do some people run everything through thier CC, or is it better to use the debit card besides?

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I haven't used my debit cards in 2 years.  Not once.

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Once my fiancée and I get our debt in order we'll be using CCs exclusively. Rewards, man, rewards!

[Anonymous]

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@Revelate wrote:

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@Anonymous wrote:

Do some people run everything through thier CC, or is it better to use the debit card besides?

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I haven't used my debit cards in 2 years.  Not once.

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+1

I cant remember the last time. 

[Anonymous]

If your CL is $300 and you put $500 on the account, will you be able to spend that $500, or not?

[Credit-hoarder]

I use my own income/money first (cash or debit card) then I use credit cards (Visa, Disc. etc)  for back-up so hopefully I'll never be caught with enormous CC debt and keep relatively low UTL. Store cards of course are the exception-and I don't use those often either.