I'm being charged a late fee on my credit card. Is this even a reason to be charged? Any advise?

Question

I'm being charge a late fee of $40 for nothing!! I owed $27 for the month but after I returned something and got the credit on the card the balance was $1.06. I sent it on time and everything but they say i have to pay $40 because the minimum balance wasnt sent even though only $1.06 was due. Ive never sent a late payment or not paid in full or minimum and they dont want to take it off. Any advise?

the refund, and the payment were paid way before the closing date.

Answer 1

Sounds like a misunderstanding. Don't freak out, stay calm and call and ask for a supervisor, and discuss it with them.

Regardless of the amount owed, even $1.06 can incur a $40 late charge.....
Has the credit for the return already been posted ??

Answer 2

The credit probably didn't get to them by the due date, so all that they had on the late cut off was your $1.06. Next time, pay the whole bill and let them apply the refund to the next month. Having a $26 credit balance, which is refundable is better than a $40 late charge.

Answer 3

If you got credit for something by returning it, that often doesn't get applied to your card right away. Also, if your balance is something greater (I'm not sure I entirely understand your situation), you still have to pay the minimum payment even if there is a credit against the account. Returning goods is not the same thing as paying on your credit card.

Answer 4

My advice is to talk to the credit card's customer service department. Remain calm and explain the situation. Believe it or not, these people can be reasonable. Look at it this way, there are thousands of credit cards out there, they cannot completely ignore customer service. Do not threaten, just ask for help.

For example, a friend of mine never carries a balance. He made a clerical error in paying his monthly bill, he wrote a check for $1,000.19 instead of the full balance of $1,000.91. Their computer system then said that he did not pay his bill in full and imposed interest charges. A five minute phone call fixed the glitch.

Answer 5

Once your bill generates you owe the amount due...even if you make a return and the balance would be different, once the statement generates that is what you owe.

You can try calling and see if they would refund it this time. Explain you didn't understand once the statement generated you had to pay the min amt due no mater what else was going on. Some companies are willing to work with a good customer.

Answer 6

Most credit cards will waive a late fee once per year. Just ask for a waiver. You have probably just talked to a low-level clerk who can only answer what they are reading from a book - in other words, can't actually use their brain. Go up the chain if you need to.

Answer 7

It sounds like they went by your statement ending balance, which is probably before the credit was issued. You can try to dispute it, but credit companies are very shady and will lie to you.

I would threaten to close the card if they don't remove that fee. If you have to pay it, just pay it (so you don't get a bad mark on your credit score) and just close the card.

Answer 8

you answered your own question. They said the minimum payment wasn't paid. If this is the first time it happened with that credit card, you may be able to call them ask for it be removed

Answer 9

I think its unjust, but it is the only way the company can retrieve money on time. The way it work is kind of like a short-time loan.
Check this out, maybe it will be more convincing:

http://articles.directorym.com/Credit_Card_Processing-a613.html

Answer 10

Cancel your card and go some where your business is wanted and next time pay all your balances on time.