Last month I paid my bill to Chase Visa credit card but it was one day
over due. They payment was through Charter One bank's online
electronic payment system. Without notice, Charter One suddenly
increased the payment time from 5 days to 7 days (I did not realize
that at the time of submitting the electronic payment), which then
resulted in my overdue payment to my credit card. Too bad. I never
been delinquent on any payment and my FICO score was over 800. I asked
Chase Visa to remove the $39 late fee considering my one-time
situation, but the rep refused. I asked Charter One to reimburse me
the $39 for the penalty that Chase imposed on me, but they refused.
OK, ultimately it is my fault on the late payment, but instead of "Win-
Lose" situation, let's do a "Lose-Lose". I decided to suspend using
Chase card for one year, and to close Charter One bank for good. Not
everyone can make this kind of decision, but I can. I have several of
other high quality credit cards and banks to use. I am sure my credit
score will be back to 800 soon.
On Wed, 12 Mar 2008 17:39:45 -0700 (PDT), yuer98idf@lycos.com wrote:
>Last month I paid my bill to Chase Visa credit card but it was one day
>over due. They payment was through Charter One bank's online
>electronic payment system. Without notice, Charter One suddenly
>increased the payment time from 5 days to 7 days (I did not realize
>that at the time of submitting the electronic payment), which then
>resulted in my overdue payment to my credit card. Too bad. I never
>been delinquent on any payment and my FICO score was over 800. I asked
>Chase Visa to remove the $39 late fee considering my one-time
>situation, but the rep refused. I asked Charter One to reimburse me
>the $39 for the penalty that Chase imposed on me, but they refused.
>OK, ultimately it is my fault on the late payment, but instead of "Win-
>Lose" situation, let's do a "Lose-Lose". I decided to suspend using
>Chase card for one year, and to close Charter One bank for good. Not
>everyone can make this kind of decision, but I can. I have several of
>other high quality credit cards and banks to use. I am sure my credit
>score will be back to 800 soon.
I've had to rip into them a few times myself and they are now on my
short leash. If the CC companies continue the way they are, I'll have
no problem going back to paying cash. My primary reason for using
them has been record keeping, and the percentage point interest has
been a plus. However, I'm not about to roll over and play dead when
they try to get aggressive with me. They get about 2.5% from
merchants, and whatever they get out of people who keep a balance. If
I pay cash money, I'm willing to negotiate a lower cost when I can to
make up some of that money. I can keep my receipts if I have to. I'm
a big boy.
FWIW, I just fired a bank for charging me overcredit fees after an
automatic deduction got raised without my knowing it and drew my
account less than $10 into the red. Over ten years with zero problems
and thousands of dollars in deposits and you want to charge me what,
instead of calling me???? I don't think so.
What I find most despicable about the CC companies latest tricks is
the one where they don't update the amount you owe online, and if you
just go by the amount shown on the net to pay your bill, you underpay
by a few bucks, tossing you in to the interest charges. I've learned
to watch more carefully, but I'm ready to start dropping cards into
the freezer. Their loss.
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>over due. They payment was through Charter One bank's online
>electronic payment system. Without notice, Charter One suddenly
>increased the payment time from 5 days to 7 days (I did not realize
>that at the time of submitting the electronic payment), which then
>resulted in my overdue payment to my credit card. Too bad. I never
>been delinquent on any payment and my FICO score was over 800. I asked
>Chase Visa to remove the $39 late fee considering my one-time
>situation, but the rep refused. I asked Charter One to reimburse me
>the $39 for the penalty that Chase imposed on me, but they refused.
>OK, ultimately it is my fault on the late payment, but instead of "Win-
>Lose" situation, let's do a "Lose-Lose". I decided to suspend using
>Chase card for one year, and to close Charter One bank for good. Not
>everyone can make this kind of decision, but I can. I have several of
>other high quality credit cards and banks to use. I am sure my credit
>score will be back to 800 soon.