Saturday, July 6, 2013

Keeping up on paperwork aka it pays to complain!

Image: http://cdn6.unibulmerchantservices.com/wp-content/uploads/2011/07/CARD-Act-Pushes-Credit-Card-Interest-Rates-Further-Down1.jpg

I am the customer that credit card companies can't stand. I only have one credit card, and I pay it off in full, on time, every month, in person at the bank. This is a credit card thru my bank so it ends up being an automatic transfer from one account to another within the system. I've learned to pay the bill in person to avoid "it got held up in the mail, so it was posted late and we've charged interest as a result" scenario, which happened with another CC company I had years ago.

Since I have been unable to drive, last month, June 17th to be exact, I had my Mom drive my payment over to the branch, instructing her to make sure that it got posted THAT SAME DAY as the CC was due that day. She assured me that she told the teller, it was posted, no problem.

I just downloaded my next billing statement, only to discover an almost $40 interest  charge on my statement. Huh? Sure enough, the June payment was posted the next day.

I phoned credit card services, and explained that the payment was made at the branch that same day, well before 5 p.m. (otherwise yes, it would have been posted on the 18th). Long story short, the $40 interest charge has been credited to my account, along with another $35 fee. Since I had them on the phone, I do as I normally do every few months, I "cashed in" my reward points of $198.96. Not only was my use of this CC at no cost to me, there was no interest and they pay me every few months in "rewards." This reward money is how I usually buy things like Laptops. Nice.

1 comment:

Precious said...

The banks really do hate people like us but I don't hear them complaining when you have a ton of money in their bank and they are loaning it out and making much more interest than they pay us.

So glad you complained and that they credited it. Yeah on the rewards.