Discover Small Balance ChargeOff??

Discussion in 'Credit Talk' started by Bill B, Nov 6, 2001.

  1. Bill B

    Bill B Well-Known Member

    I did a balance transfer to pay off my discover card and also closed the account..Well i forgot to add a few extra bucks for the finance charges that occured for those few days..Anyways the charges was $3.38 but the bank didnt charge me and on statment says small balance charge off,,I wonder if this is ok or not?
     
  2. Newcomer

    Newcomer Well-Known Member

    Bill,

    Years ago when I worked for Equifax, there used to be a courtesy rule that if the remaining balance on an account was less than $10, the company would write it off, but it would not be reflected as a bad debt for the customer. With corporations being less than scrupulous, I think you need to verify with Discover that this will not reflect badly on your credit report.
     
  3. Dani

    Dani Well-Known Member

    There is nothing to worry about. I had a small chargeoff of .67 a couple months ago with Discover. They tagged on interest for the cash advance I took. Since I pay the balance in full each month, I guess it wasn't worth their time to send me a bill for $.67. This will not reflect on your credit report.

    Dani
     
  4. Bill B

    Bill B Well-Known Member

    Thanx for the input
     
  5. GEORGE

    GEORGE Well-Known Member

    WHEN I WAS GETTING NO WHERE WITH DISCOVERCARD, I WANTED TO GIVE DISCOVERCARD MY $0.02...so I fixed it so I would owe $0.02...THEY HAD THE NERVE TO "SMALL BALANCE WRITE OFF"!!!
     
  6. GEORGE

    GEORGE Well-Known Member

    ...AND THEY REFUSED TO SEND ME A STATEMENT (even though there was credits and charges)...VIOLATION OF SOME LAW???
     

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