Paying my credit cards on time cost me $$$

Image result for credit cards

“We live in a different world, then where we came from “

I live via electronics and plastic.  I rarely write a check.  Most of my debts are automatically deducted from my checking account.  Less than a hand full of my bills are mailed to me.    This is the new world.

Since I’m never late on my bills I rarely check the balances.    One day I checked my  balance on couple of my accounts because the balances staying near the same.   For some reason I had difficulty setting up an auto pay on these two accounts.  So I would pay them by phone on the due date.

After a little investigation, I discovered I was charged a late fee, even though the account was paid on time.  In the case of the my bank card , I paid over $450 00 in late fees, even though I paid them on time.   On the other card I paid more than  $175.00 in  fees and charges.

After five phone calls, I learned , to avoid late fees I had to make my payment by 3pm on the west coast, or 6pm (east coast time) on the date due.  It didn’t matter if I walked into one of the mega bank’s branches or paid by phone, the account must be received by 3pm. The mega bank did agree to reverse $150 of the $400 in bank fees.

The other business was not so accommodating, in addition to charging me $23 in late fees, they charged me $7.00 for calling them.  I once remembered questioning the $7.00 which was waived, I thought.  Because I didn’t have a paper trail or monitor my balance, that conversation was only in MY mind.

It would be easy to blame the big bad mean creditors. But I didn’t monitor my balances.  Apparently its all legal. Its in the fine print, page 716.

 I’ve returned to the old tried and true, I get billing via the US Postal service.