Question Re: Fingerhut Paymenrts

[Anonymous]

Anyone know if I make a payment prior to the due date with Fingerhut, will I still need to make another payment on the actual due date? My payment isn't due til 8/24 but thought I'd make a payment prior to that date. Thanks in advance.

[aphrodite871]

You can make a early payment. This is what I do on my cap one card. There is no limitations on how many payments you make during the month before the statement closes.

[RobertEG]

Some creditors do have limitations on the number of payments they will process per month.

Contact the creditor before assuming you can make unlimited payments.

A $ benefit in making multiple payments is that most creditors calculate interest based on the average daily balance, then multiplying that average by the number of days in the month.  Making multiple payments can reduce the average daily balance, and thus resulting in savings if you have accrued interest for the month.

[Anonymous]

I have read that if you make a payment prior to your due date with Fingerhut, it counts as an "extra" payment and you are expected to make another payment on the due date. That doesn't make sense but was wondering if that was true. Thanks.

[rmduhon]

No, if you make a payment before the due date you don't have to make a payment on the due date, assuming that the payment is at least the minimum amount due. The due date is the last today you can make the payment without penalty.

[Anonymous]

Thanks.. that's what I'm hoping. I get paid mid-month and like to make all my payments in advance. I'd read some Fingerhut horror stories about people who paid early then got socked with a late charge because they didn't pay again on the due date.. guess we'll see. Thanks again!

[Anonymous]

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@rmduhon wrote:
No, if you make a payment before the due date you don't have to make a payment on the due date, assuming that the payment is at least the minimum amount due. The due date is the last today you can make the payment without penalty.

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+1 

Any payment made after your statement cuts will go to the minimum payment due before your next statement cuts. When DH had a balance with FH, we monitored the account closely online to make sure payments were posting and such.