Discussion in 'Credit Talk' started by iambroke, Oct 3, 2003.

  1. iambroke

    iambroke Well-Known Member

    Ok, they credited partial payment to my account. NOw what do I do???!! I paid it in full 3 wks before the due date of 9/26/03

    My balance due on 9/26 was 998.22. I mailed them a check for 998.22 on 9/7. cleared my bank on 9/11/03. They continued to "hold" my available balance up til this morning when I looked and now it says:

    CL 1,500.00
    Av bal $1,494.08
    bal $5.92
    due 10/26/03
    amt due $5.92

    WHAT THE HECK!!! I owe 5.92 in accrued interest cause they DECIDED TO HOLD my payment til they thought it cleared!

    What can I do about this? HELP

    GEORGE Well-Known Member

    CALL and ask for a credit of $5.92...all they can say is YES or NO...

    It is ACCRUED INTEREST from the previous billing date to the date of payment...

  3. iambroke

    iambroke Well-Known Member

    Ok, so say I pay the 5.92...then I have another balance of interest on that interest?

    Seems like it will never be paid in full then.
  4. snakeman

    snakeman Well-Known Member

    This is the reason why I despise CC's

  5. iambroke

    iambroke Well-Known Member

    HA HA

    The bad thing is it's NOT a credit card. It's a revolving LOC...from Dell. I thought paying the balance in full did just that, paid it in full to zero.
    No, The 5.92 is acrued interest from 8/26 to 9/10 when they received the check. I just called them...and of course I called INDIA so some lady with a very strong india accent explained it to me.
    She said the 5.92 was extra interest from last statement to this statement payment. I understand that but she also kept saying if I pay the 5.92 by next due date (10/26) it will then show zero balance. Ok, let's see if that's the case as I'm mailing out my check TODAY for 5.92. And along with that payment is a CLOSE MY ACCOUNT OUT ASAP letter!

    I am DONE with Dell. I will never use them again.

    Weird thing is I have a few CC's I pay off in full. I never had them carry over balance is zeroed out with the payment. I'm just alittle confused as to that happening only with Dell? Maybe they want to milk us all out of any money they can, huh?

    GEORGE Well-Known Member

    NEVER put any letter with a payment!!! MOST companies have a TOTALLY DIFFERENT ADDRESSES FOR CORRESPONDING...

    GEORGE Well-Known Member

    The payments USUALLY go to a DEPOSIT BANK...

    The letter MAY or MAY NOT make it to where you want it...(CREDIT DEPARTMENT)
  8. Hedwig

    Hedwig Well-Known Member

    Especially on Lines of Credit, the interest is computed every day, just like a mortgage. When you want to pay it off, you have to call and ask for a payoff amount. They'll figure the interest and give you an amount good for a certain number of days.

    I just did that with a BofA line of credit I had. And they still computed it incorrectly. I had a balance of $1.62 left, which I noticed online. But when I got the statement this month, it shows a zero balance and the $1.62 is written off as "small balance write off."

    So, I don't think it's Dell, it's the fact that it's a LOC instead of a credit card.

    Of course, if you have a credit card with no grace period, you have the same situation.
  9. lbrown59

    lbrown59 Well-Known Member


    There is no RESIDUAL INTEREST...due on payments they held instead of crediting.

    THE END ** *** ** LB 59
  10. iambroke

    iambroke Well-Known Member

    I found out by calling them that the 5.92 was interest from 9/1-9/10 when they received the payment. Therefore it was from interest before the payment was even received which makes sense. Now if they charged me interest after 9/10 (which the check cleared my bank on 9/11 so that makes sense) then I would have had a hissing fit!

    I complained via email about it...they reversed the 5.92 and waived it this time. That's ok cause i don't plan on using that account ever again. It is 27% and a waste of my time.

    That is why I paid it in full anyways.

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