Creditors who won't let you pay them

For just about anything you want to get off your chest about credit cards.
22 posts
MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Creditors who won't let you pay them

Postby MemberSince99 » Tue Jan 14, 2014 6:44 am

You know I find it kind of strange how hard some of them make it to pay them, which they say is the priority but you'd never know it by how difficult they make things.


For instance - Citi. I see my statement date is tomorrow and I've been spending on it, so I go to make a payment this morning and they flat out will not let me do that. (I get a message saying my payment amount is higher than my statement balance - yeah but it's equal to the current balance, so what?)


So now I will apparently have a balance post on this card because they will not allow me to pay it. Seriously WTF.


I think I'm going to call on the way to work and see if there is a way around this insanity. Do these guys want to get paid, or not? if it was me I'd be hell yeah you can pay let me make this easy for you. But that makes sense so why do that.


And why does this bother me? Simple - the Barclay card was new and I did not know the statement date on that and I didn't want to call if I didn't have to because of the huge wait times these days from the Target debacle. So that posted 60 some dollars before I could pay it. Now I'll have 2 cards reporting and that will kill my score for a month.


What a PITA it is juggling these things anyway. I'm not sure how it will all shake out, but I have no intention of adding MORE cards to the mix, and this might help prompt me to trim down a bit. It's just too much hassle juggling different cards worrying about can I use this card now or do I have to jump to this one and paying them before the cut off and all that and NO I do NOT repeat NOT want to push automatic payments to anyone. It will NOT solve the problem of having a 0 balance only covering your minimum anyway - I just want to point that out before some budding Einstein posts how that would solve the issue - it does NOT solve it.


It's going to be "survival of the fittest" and I'm just going to keep the ones that I like best (basically the ones that give me the least PITA for one thing).


MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Tue Jan 14, 2014 6:57 am

UPDATE I just called and the rep processed the payment for me. It was as I guessed because my first statement hadn't cut. For most that's not a problem, others it is as I've seen (Amex may or may not let you pay before the statement as well YMMV there from what I've seen).


So I had to call but I could make the payment. Just an FYI for anyone else in this situation. Had I been going for a loan or mortgage it soon it could have been an issue but if you call it should solve it.


Finally the rep said I had a year at 0% (it's a trap! haha) and did I have any high interest card balances I wished to transfer to the Citi card. When I said no I don't have any balances except for 60 some dollars that reported on one card before I could pay it, her response was "good for you" and I could tell it was sincere. They do realize that's the way to do it.


Last but not least I got an American rep in Missouri which was great who was able to help me and I could understand. Very nice.

wiivile
Centurion Member
Centurion Member
 
Posts: 151
Joined: Mon Apr 22, 2013 10:05 pm
Location: New York, NY

Postby wiivile » Tue Jan 14, 2014 7:24 am

MemberSince99 wrote:UPDATE I just called and the rep processed the payment for me. It was as I guessed because my first statement hadn't cut. For most that's not a problem, others it is as I've seen (Amex may or may not let you pay before the statement as well YMMV there from what I've seen).


So I had to call but I could make the payment. Just an FYI for anyone else in this situation. Had I been going for a loan or mortgage it soon it could have been an issue but if you call it should solve it.


Finally the rep said I had a year at 0% (it's a trap! haha) and did I have any high interest card balances I wished to transfer to the Citi card. When I said no I don't have any balances except for 60 some dollars that reported on one card before I could pay it, her response was "good for you" and I could tell it was sincere. They do realize that's the way to do it.


Last but not least I got an American rep in Missouri which was great who was able to help me and I could understand. Very nice.


I just like to keep my util below 10%. Don't see any reason to keep everything at zero. Unless I'm misunderstanding.
    Chase Sapphire Preferred Visa Signature: 11/2013, $15,000 CL
    Chase Freedom Visa: 11/2009, $4,700 CL
    U.S. Bank Cash+ Visa Signature: 11/2013, $11,200 CL

whit
Centurion Member
Centurion Member
 
Posts: 508
Joined: Tue Aug 13, 2013 10:04 pm
Location: ca

Postby whit » Tue Jan 14, 2014 8:29 am

I actually had someone be short with me over this. not sure if it's because he's partial deaf and this behavior (yelling) is a product of that or he is just rude

companies will not let you pay more the what is on statement balance even if current is more then that

they are doing so to prevent people from overpaying and getting a negative and therefore extending their CL higher then what it is

but I'm sure there's a more complex reason then that or something must have happened

the rep who did it probably overrode the warning

just saying, lots of changes, majority has to do with keeping themselves within in line with federal regulations and such

takeshi
Centurion Member
Centurion Member
 
Posts: 1733
Joined: Wed Jun 05, 2013 3:12 pm
Location: US

Postby takeshi » Tue Jan 14, 2014 9:10 am

I find it a lot easier to not obsess over utilization and balances unless I'm apping. Situations are what they are. The only control that you have is how you handle them.

User avatar
djrez4
Centurion Member
Centurion Member
 
Posts: 1468
Joined: Tue Jul 31, 2012 12:20 pm
Location: United States

Postby djrez4 » Tue Jan 14, 2014 10:37 am

takeshi wrote:I find it a lot easier to not obsess over utilization and balances unless I'm apping. Situations are what they are. The only control that you have is how you handle them.


I agree with you on avoiding obsession, in theory, but you never know when a ridiculous deal (like the 100k Amex Platinum from last January) will pop up. Best not to let things slip too far.

It's serendipitous that this thread appeared this morning. I went to the mailbox and found that il postino had delivered the check from Barclays that I'd been waiting for. I paid my balance on the card before the statement cut last month. Then, autopay took ANOTHER payment for the full balance out of my account on the autopay date. Apparently, if you elect to autopay the full balance, Barclays assumes you mean the statement balance, not the balance on the date of the payment. So, lesson learned, money returned.

But, everyone with Barclays cards who pays before the statement cuts should check autopay settings.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]
[/RIGHT]

MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Tue Jan 14, 2014 12:37 pm

That's the thing - as djrez said, you never know what's coming. I mean it's snowing here and we are supposed to get a good amount. I could get my car destroyed on the way home and need a new one sooner than I expected. Will the amount affect that? Who knows it depends on a lot of things but it's best to be prepared at all times.


I have seen from experience that some of the models penalize you for multiple balances even if they are very tiny.


Now that I know the statement closing dates I can avoid this in the future.


And that's one of the reasons I avoid autopay. I want control over who gets paid what when with my money.

User avatar
djrez4
Centurion Member
Centurion Member
 
Posts: 1468
Joined: Tue Jul 31, 2012 12:20 pm
Location: United States

Postby djrez4 » Tue Jan 14, 2014 12:52 pm

MemberSince99 wrote:And that's one of the reasons I avoid autopay. I want control over who gets paid what when with my money.


I do what you do - pay my bills before they turn into statements. Autopay is a backup, in case I miss one or happen to be out of the country (I'm not going to log in to my bank account from a Chinese wifi connection). Chase, Amex and Citi allow you to Autopay the current balance on the date of payment. Barclays is the only one that seems to have different rules. They offer three options: minimum amount due, statement balance, or other amount.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]

[/RIGHT]

Ikarus
Centurion Member
Centurion Member
 
Posts: 146
Joined: Thu Feb 07, 2013 4:53 am
Location: USA

Postby Ikarus » Tue Jan 14, 2014 2:46 pm

I think Chase let's you pay 110% of the current balance, even if there are pending transactions that are higher than 100%.

I think it makes sense in that pending transactions may be reversed, or may not hit the account for days.

I don't think pending transactions will show on your credit balance, anyways, so it's all good.

I think the creditor is just trying to avoid having negative balances (credits) linger on accounts.
Merrick Bank (Hooters) 4100
Cap One Quicksilver 2800
Discover it 2500
Citi Forward 5400
Chase Freedom 1000
AMEX Blue Cash Everyday 5500
Citi Dividend 5600
Cap One Visa Platinum 750 (CLOSED)

flan
Centurion Member
Centurion Member
 
Posts: 387
Joined: Tue Apr 09, 2013 10:16 pm
Location: chicago

Postby flan » Tue Jan 14, 2014 9:05 pm

Ikarus wrote:I think the creditor is just trying to avoid having negative balances (credits) linger on accounts.


Not really a problem for them, either accounting or operationally.

Note that all these restrictions are trying to get the creditor to issue an ACH transfer, rather than accept one initiated by someone else. Possibility of reversal is much higher for transfers they initiate, as opposed to ones they receive. So they're understandably wary about them, particularly on new accounts. If you use your bank to send them money, they're almost certain to take it, same as if you send them a check, or make a payment over the counter with cash. Yes, that takes longer, but if you're going to be silly about things, it's a small price to pay.



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 2 guests