credit cards

[steve from staten island]

I have a credit card in my name and my daughters.Its a bank card. The reason we do this is not important but what happened was this. Last billing cycle i had (and these are example figures only) 1000 in charges. I paid 800 and had a 200 balance that i knew id pay 13% interest on. Ok so yesterday the next bill comes in. I charged nothing but my daughter charged 5000. Now the way we work it is she sends me funds immediately and i pay the card. What i notice is a 55 dollar interest. So i call the company get this woman who keeps putting me on hold for 15 minutes. I tell her i was lousy in math but 55 dollars interest on 200 for a month does not sound right. Well she tells me you paid interest on the 5 grand plus the 200 from the day of the 5 grand purchase which just so happened to be in the beginning of the billing cycle. In other words 13% on 5200.00 for 30 days.
Now how can that be i just got the bill,200dollars at 13% that i get. what this bank does is if you fail to pay off your entire balance then you not only get charged the 13% on that balance but you pay 13% on everything you charge in the next billing cycle from the day you charge it
So i tell her i dont recall reading or being told that so shut the account down. I know discover does not do this and i called my other card holder and the woman was very knowledgeable and she said they dont do this either. You pay interest only on your balance. Leave it to the banks to shove it to you.

 

[BeeKool]

I would cancel after paying the balance.

"What's in your wallet"?

 

[MoparMitch]

Why Don't you Just get a Card that has 3%...Like I do.. And pay the Balance each Month ???

 

[super-bee_ski]

Why Don't you Just get a Card that has 3%...Like I do.. And pay the Balance each Month ???

What card has 3%?

 

[MoparMitch]

What card has 3%?

MINE !!!

 

[Bladecutter]

I have a credit card in my name and my daughters.Its a bank card. The reason we do this is not important but what happened was this. Last billing cycle i had (and these are example figures only) 1000 in charges. I paid 800 and had a 200 balance that i knew id pay 13% interest on. Ok so yesterday the next bill comes in. I charged nothing but my daughter charged 5000. Now the way we work it is she sends me funds immediately and i pay the card. What i notice is a 55 dollar interest. So i call the company get this woman who keeps putting me on hold for 15 minutes. I tell her i was lousy in math but 55 dollars interest on 200 for a month does not sound right. Well she tells me you paid interest on the 5 grand plus the 200 from the day of the 5 grand purchase which just so happened to be in the beginning of the billing cycle. In other words 13% on 5200.00 for 30 days.
Now how can that be i just got the bill,200dollars at 13% that i get. what this bank does is if you fail to pay off your entire balance then you not only get charged the 13% on that balance but you pay 13% on everything you charge in the next billing cycle from the day you charge it
So i tell her i dont recall reading or being told that so shut the account down. I know discover does not do this and i called my other card holder and the woman was very knowledgeable and she said they dont do this either. You pay interest only on your balance. Leave it to the banks to shove it to you.

Im like a nun & 7 UP on credit.....
never had it.......never will. Screw banksters.......buttholes think they own You.

 

[iraqivet01]

Credit cards are nothing but legalized loan sharking.

They are betting that you'll have a balance so they can stick it to you. They also like to give you a very short window to make a payment so they can tack on late fees.

I won't have one because of actually what they are doing to you.

Seen too many people screw themselves with them

 

[Cranky]

I have 3 cards and none of them charge interest if the balance is paid off in full each month which I do....even the Sears card which charges a lot more than 13% does that. The only reason I got a Sears card is because I used to shop tools there and passed by a Sears store on my way to and from work and since I didn't carry a pocket full of cash at work, the card came in handy. Now, I use it so little that I get these letters saying that my account will be canceled for non use if I don't use it within a certain amount of time. Well, I needed a new battery for my garden tractor and the Sears hardware story by me is closing and was having a 30% off sale and they had a automotive battery that fit it perfectly so now I shouldn't get anymore letters for at least another couple of years

 

[steve from staten island]

Have no issue with paying intrest as i almost always pay off cards but again they charged interest at the begining of he billing cycle, befeore i even got the bill!!

 

[Cranky]

Have no issue with paying intrest as i almost always pay off cards but again they charged interest at the begining of he billing cycle, befeore i even got the bill!!

File a complaint and cancel or quit using that card. If you cancel a card, it can also affect your credit rating....

 

[Brandy]

What's in my wallet? Cash. My wife does all of the credit stuff. lol.

 

[super-bee_ski]

Gee MoparMitch...
I mean, which Bank is that?

 

[snakeoil24]

MINE !!!

Mopar Mitch please dont play stupid games what card has a 3% apr

 

[MoparMitch]

Mopar Mitch please dont play stupid games what card has a 3% apr

Chase... I'll take a pic for ya tomorrow...

 

[snakeoil24]

I think you mean 3 percent transfer fee

 

[44070dart]

never heard of interest owed before the payment due date .. thought only the mob did that

 

[Pops1967GTX]

"What's in your wallet"?[/QUOTE]
.

 

[moparwacko]

Charged my trip to MATS last year on one of the 2 cards I own. I chose the one I never use Cuz the wife borrowed the other that day. Well, had a great time, charged basically everything in Vegas, like the good tourist I was. all was great with the world when I got home paid it in full.....done. until next month got a bill for about $38!!!! can u say WTF! called and got the explanation that my charges "eclipsed" 2 statement dates, even though I paid online in full! and I was to pay interest for that? needless to say I mailed that payment instead of online along with their card cut into 167 pieces (I counted). I now only use a Chase CC and get 3% back on all auto related purchases, and I buy a lot. BOA can keep their CARD, all 167 pieces.

 

[cryplydog]

Pops, is that a 50 cent pc. or a scrubber? I guess when you have a hot checkout lady you don't have to say anything to her other than showing her the scrubber extrusion ring on the wallet and then she will let you know if she wants to get something strait between her and you. Top notch Pops!

 

[68gtxman]

Cash advances automatically start the interest fees. Not sure if they also start the interest charge on purchases at that point too. It does suck!