When I managed a service station in SOUTHERN CALIFORNIA, we had "private" charge accounts for suppliers, they had 2% discount 7 days...net 30... So if we paid in 7 days or less, we paid 98% of the bill... And we did the same thing for purchases that a few companies did for our "private" charge accounts...we gave them 2% discount if they paid the gas bill in 7 days or less. IT'S TIME TO OFFER A EARLY PAYMENT CREDIT ($29.00-$35.00) IF YOU MAIL THE PAYMENT THE NEXT DAY!
Still wont work George because they control the date paid which is whenever they say it is. WE would loose the $35.00 early payment plus pay a $35.00 late so now we're in the hole $70.00.
I think everyone has a valid point. One day, we'll all have a POS (or point of payment) machine in our homes that will prevent such mess-ups. The eternal optimist... DB
Well, I wonder if Chase is having some sort of technical difficulties. I mailed my payment due on the 16th on the 10th and they claim not to have recieved it yet. Usually my payments (always sent snail mail) post within 3 days.... I called them today and asked them about it and they promised to reverse any late charges.
BofA delayed my wife's payment...GOT ZAPPED with late charge + $0.50 min interest... All the payments mailed on the same day, in the same mailbox, cleared the checking account TWO days before they said they got that payment!!! IT DID NOT SAY "ANTHRAX COVERED PAYMENT ENCLOSED"!!!
Like all the rest they don't know the difference between the following: ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Date Posted Date Received Date Paid ````````````````````````````````````````
LLbrown...Sure you can...Just wait for 2 months and send your payment at that point which would be 60 days past due and then send a payment every month after that..You will be continue to run 60 days unless of course you double up on your payment..Now after 4 months of paying this way your account must likely would be closed... But seriously, some people are scared to do their banking online or by phone. I on the other hand would rather take my chances because I really do not like to rely on the post office for anything..I remember when I recieved my pin number from Providian and my envelope was opened when I checked my mail box ???? I was infuriated...Thank God the card did not come in a Providian envelope..
And one more thing..I have learned so much from everyone on this board in the last 8 months..And we all know the games these companies like to play..So just to protect myself I send 2 payments each month on every account just in case the first one mysteriously never gets where it is supposed to go..
I sent my Orchard payment and my husbands the same day, beginning of Nov. Mine posted on the 5th. My check cleared on the 8th. I kept checking his account and it wasn't showing up so I made an online minimum payment thinking "okay, am I getting screwed here? Post bk- this is all I need!!" The due date was the 17th. The online payment posted on the 13th. Lo and behold, I check the history and it shows the other payment posted also the 13th. With a date received on the 5th, just like mine. What the heck is that all about???? It seems like they just held it and then backdated it. Scared the beejeebees out of me! I am still nervous about doing online payments. I mail my payments out the day I get the bill and haven't had any problems before. I guess with the way things are now though, who knows. I better get a little braver and hope for the best with online payments.
Well I bank with Suntrust and on a monthly basis I probably send 15 payments a month through their bill pay service and since June everything has been wonderful..No driving to the post office or buying stamps.. Plus if anything ever did go wrong i could blame my bank because I have access to when the payment was sent and when the money was taken out from my accounts..
Here's the deal. You are a creditor and you loan a consumer 500.00 on a credit card. They agree to pay you back in no less than 20 days by standard agreements. If you can't pay back by the date the give you within these guidelines then you should not be charging in the first place.
Bull- to much of a generalization. Every thing is not always this cut and dried: Also failure to credit is not the same as paying late or non payment!
It takes at least 10 to 14 days to credit a payment.You mailed the payment only 8 days before it was due which wasn't enough time before the due date.
If they want their money on time they need to get the bills to us at least 30 days before the due date!
If they would get the bills to us at least 30days before due they wouldn't have to worry about a grace period
So the proper way to do that is to set things up so that the customer has to walk through a mine feild,skate on thin ice and walk a high wire to get the payment to them.And when the payment gets there late or not at all sock him with an unearned unowed late charge.
I staple my checks together so they can't pull this kind of crap on me. This way they have to get all of them or none of them.When they say they didn't get the check I know they are lying.
