Comments on: The Crushing Cost of Credit Card Late Fees http://queercents.com/2007/09/13/the-crushing-cost-of-credit-card-late-fees/ We're here, We're queer, and We're not going Shopping without Coupons Wed, 10 Mar 2010 04:23:21 -0700 http://wordpress.org/?v=2.9.1 hourly 1 By: Potatorioles Fan http://queercents.com/2007/09/13/the-crushing-cost-of-credit-card-late-fees/comment-page-1/#comment-136892 Potatorioles Fan Mon, 16 Jun 2008 20:56:37 +0000 http://www.queercents.com/2007/09/13/the-crushing-cost-of-credit-card-late-fees/#comment-136892 One way you can remind yourself of credit card payment due dates is to set up email reminders. You can have the reminder sent a week, a few days and then the day before the payment is due. I usually input the due date in the computer as a few days earlier than when it's actually due, just because I know I'll forget!<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-136892">0</span> <small>(to vote for this comment, please visit the site)</small></p> One way you can remind yourself of credit card payment due dates is to set up email reminders. You can have the reminder sent a week, a few days and then the day before the payment is due. I usually input the due date in the computer as a few days earlier than when it’s actually due, just because I know I’ll forget!

Current score: 0 (to vote for this comment, please visit the site)

]]> By: Queercents » Blog Archive » Optimize Credit Scores When Eliminating Debt http://queercents.com/2007/09/13/the-crushing-cost-of-credit-card-late-fees/comment-page-1/#comment-104905 Queercents » Blog Archive » Optimize Credit Scores When Eliminating Debt Tue, 12 Feb 2008 16:37:38 +0000 http://www.queercents.com/2007/09/13/the-crushing-cost-of-credit-card-late-fees/#comment-104905 [...] all tuned into the motivational purrings of Dave Ramsey.  Get rid of debt.  Use the “roll down” technique.  It’s simple.  A moron could do [...]<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-104905">0</span> <small>(to vote for this comment, please visit the site)</small></p> [...] all tuned into the motivational purrings of Dave Ramsey.  Get rid of debt.  Use the “roll down” technique.  It’s simple.  A moron could do [...]

Current score: 0 (to vote for this comment, please visit the site)

]]> By: Queercents » Blog Archive » Magic Pill or Financial Salvation? Is Debt-Free really Free? http://queercents.com/2007/09/13/the-crushing-cost-of-credit-card-late-fees/comment-page-1/#comment-100293 Queercents » Blog Archive » Magic Pill or Financial Salvation? Is Debt-Free really Free? Tue, 29 Jan 2008 03:15:31 +0000 http://www.queercents.com/2007/09/13/the-crushing-cost-of-credit-card-late-fees/#comment-100293 [...] Is a Money Merge Account the right system to employ to eliminate debt? [...]<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-100293">0</span> <small>(to vote for this comment, please visit the site)</small></p> [...] Is a Money Merge Account the right system to employ to eliminate debt? [...]

Current score: 0 (to vote for this comment, please visit the site)

]]> By: Queercents » Blog Archive » Beating Post Holiday Buyer’s Remorse http://queercents.com/2007/09/13/the-crushing-cost-of-credit-card-late-fees/comment-page-1/#comment-96072 Queercents » Blog Archive » Beating Post Holiday Buyer’s Remorse Mon, 14 Jan 2008 11:08:29 +0000 http://www.queercents.com/2007/09/13/the-crushing-cost-of-credit-card-late-fees/#comment-96072 [...] Most importantly, don’t pay late. The fees can be crushing. I learned how phone calls really do make a difference earlier this year when I made this inadvertent error myself. [...]<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-96072">0</span> <small>(to vote for this comment, please visit the site)</small></p> [...] Most importantly, don’t pay late. The fees can be crushing. I learned how phone calls really do make a difference earlier this year when I made this inadvertent error myself. [...]

Current score: 0 (to vote for this comment, please visit the site)

]]> By: Ben http://queercents.com/2007/09/13/the-crushing-cost-of-credit-card-late-fees/comment-page-1/#comment-73319 Ben Wed, 17 Oct 2007 16:09:22 +0000 http://www.queercents.com/2007/09/13/the-crushing-cost-of-credit-card-late-fees/#comment-73319 The way I avoid this problem is to sign up with the credit card company to have my entire "New Balance" paid each month with a draft on my checking account initiated by the credit card company. I do the same thing with all my credit cards and utility bills. If there is any mess up, it is the company's fault not mine. All I have to do is have the money in my account to cover the drafts.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-73319">0</span> <small>(to vote for this comment, please visit the site)</small></p> The way I avoid this problem is to sign up with the credit card company to have my entire “New Balance” paid each month with a draft on my checking account initiated by the credit card company. I do the same thing with all my credit cards and utility bills.

If there is any mess up, it is the company’s fault not mine. All I have to do is have the money in my account to cover the drafts.

Current score: 0 (to vote for this comment, please visit the site)

]]> By: Mrs. Micah http://queercents.com/2007/09/13/the-crushing-cost-of-credit-card-late-fees/comment-page-1/#comment-68340 Mrs. Micah Fri, 28 Sep 2007 23:53:59 +0000 http://www.queercents.com/2007/09/13/the-crushing-cost-of-credit-card-late-fees/#comment-68340 I'm so glad they removed it, Paula! Great news. :-)<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-68340">0</span> <small>(to vote for this comment, please visit the site)</small></p> I’m so glad they removed it, Paula! Great news. :-)

Current score: 0 (to vote for this comment, please visit the site)

]]> By: Kate http://queercents.com/2007/09/13/the-crushing-cost-of-credit-card-late-fees/comment-page-1/#comment-65103 Kate Sat, 15 Sep 2007 20:23:49 +0000 http://www.queercents.com/2007/09/13/the-crushing-cost-of-credit-card-late-fees/#comment-65103 I'm glad someone suggested asking for the fee waiver and glad you were able to get it. I've managed that on each of three occasions (different card each time) over the last 15 years or so. If you really are a responsible card holder who pays in full promptly each month, there's no way it would be worth it to them to lose you as a customer. It never hurts to ask. The worst they can do is say no. And there are so many cards out there it wouldn't be much skin off your nose to find another one.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-65103">0</span> <small>(to vote for this comment, please visit the site)</small></p> I’m glad someone suggested asking for the fee waiver and glad you were able to get it. I’ve managed that on each of three occasions (different card each time) over the last 15 years or so. If you really are a responsible card holder who pays in full promptly each month, there’s no way it would be worth it to them to lose you as a customer. It never hurts to ask. The worst they can do is say no. And there are so many cards out there it wouldn’t be much skin off your nose to find another one.

Current score: 0 (to vote for this comment, please visit the site)

]]> By: mrsizer http://queercents.com/2007/09/13/the-crushing-cost-of-credit-card-late-fees/comment-page-1/#comment-65098 mrsizer Sat, 15 Sep 2007 19:40:46 +0000 http://www.queercents.com/2007/09/13/the-crushing-cost-of-credit-card-late-fees/#comment-65098 My Discover card killed me this way. Late fee generates over-limit fee generates more interest generates bigger minimum payment. I paid well over $10,000 to get rid of $5,000 in credit ($500 left, next month is the final payment after five years). Needless to say, I am no longer a Discover customer. On the other hand, I don't feel any particular animosity toward them: I signed the contract. I spent the $5,000. My problem. I'm on Jett's plan: No credit card. My partner has one that we can use in case of emergency. I'm staying away from them.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-65098">0</span> <small>(to vote for this comment, please visit the site)</small></p> My Discover card killed me this way. Late fee generates over-limit fee generates more interest generates bigger minimum payment. I paid well over $10,000 to get rid of $5,000 in credit ($500 left, next month is the final payment after five years). Needless to say, I am no longer a Discover customer.

On the other hand, I don’t feel any particular animosity toward them: I signed the contract. I spent the $5,000. My problem.

I’m on Jett’s plan: No credit card. My partner has one that we can use in case of emergency. I’m staying away from them.

Current score: 0 (to vote for this comment, please visit the site)

]]> By: beth http://queercents.com/2007/09/13/the-crushing-cost-of-credit-card-late-fees/comment-page-1/#comment-64909 beth Fri, 14 Sep 2007 15:54:41 +0000 http://www.queercents.com/2007/09/13/the-crushing-cost-of-credit-card-late-fees/#comment-64909 Have you considered investigating a different credit card? You might find a more humane late fee policy at a local credit union. 39 bucks is highway robbery, and they don't deserve your business.<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-64909">0</span> <small>(to vote for this comment, please visit the site)</small></p> Have you considered investigating a different credit card? You might find a more humane late fee policy at a local credit union. 39 bucks is highway robbery, and they don’t deserve your business.

Current score: 0 (to vote for this comment, please visit the site)

]]> By: Mark Porter http://queercents.com/2007/09/13/the-crushing-cost-of-credit-card-late-fees/comment-page-1/#comment-64895 Mark Porter Fri, 14 Sep 2007 14:18:57 +0000 http://www.queercents.com/2007/09/13/the-crushing-cost-of-credit-card-late-fees/#comment-64895 I'm happy to see that others advised you to contact your credit card provider. It has been my experience that they are nearly always willing to accomodate a good customer with a pristine record. In fact, I believe that my provider, CapitalOne told me that they have a policy of allowing one "redo" per year per customer. Which, frankly, is only reasonable given the current unreasonable fees and usurious interest rates credit card companies charge. I am regularly appalled at the terms and conditions they apply. And even more so when they double or triple whack someone who's unable to pay...by raising the interest rate, applying universal default...basically making that person an indentured servant for the next 5-10 years as they attempt to dig themselves out of the hole they've created. Just on a side note; I find it interesting that there doesn't seem to be any moral outrage from the electorate or faith communities on this issue...once interest rate limits were removed, credit card companies have been free to help entrap so many people in an endless cycle of credit card debt. I further concur with Jett: if you're not able to manage a credit card by paying it off each month, then a cash basis is the way to go. Credit cards too easily create the perception of additional wealth. In reality they are a double-edged sword and can very easily cut you...possibly fatally!<p class="top-comments">Current score: <span class="top-comments-karma" id="karma-64895">0</span> <small>(to vote for this comment, please visit the site)</small></p> I’m happy to see that others advised you to contact your credit card provider. It has been my experience that they are nearly always willing to accomodate a good customer with a pristine record. In fact, I believe that my provider, CapitalOne told me that they have a policy of allowing one “redo” per year per customer.

Which, frankly, is only reasonable given the current unreasonable fees and usurious interest rates credit card companies charge. I am regularly appalled at the terms and conditions they apply. And even more so when they double or triple whack someone who’s unable to pay…by raising the interest rate, applying universal default…basically making that person an indentured servant for the next 5-10 years as they attempt to dig themselves out of the hole they’ve created. Just on a side note; I find it interesting that there doesn’t seem to be any moral outrage from the electorate or faith communities on this issue…once interest rate limits were removed, credit card companies have been free to help entrap so many people in an endless cycle of credit card debt.

I further concur with Jett: if you’re not able to manage a credit card by paying it off each month, then a cash basis is the way to go. Credit cards too easily create the perception of additional wealth. In reality they are a double-edged sword and can very easily cut you…possibly fatally!

Current score: 0 (to vote for this comment, please visit the site)

]]>