We charged a plane ticket to my everyday card. I had made several payments to get it all paid before the due date, but failed to get the last bit in before the date, so they charged the whole month's interest to us. This is a card that we use daily, pay completely off each month and try never to pay interest on. How is the best way to get back to zero? Do I need to scape together the whole new balance and pay it quick or will it make no difference when during this month I pay it? I think this card uses two month averaging so should we put the brakes on using this card for a couple of months and do something else for our everyday charges? I want to use discover, not have them use me!
2007-10-21 04:29:35 · 4 answers · asked by APF 1 in Business & Finance ➔ Credit
Most cards use average daily balance. If your DiscoverCard is using two month averaging, it's still better to send payments in early -- lowers the average. Not putting additional charges on the card will also keep the average lower. Besides, you will get the balance paid off faster if you are not adding to the balance.
2007-10-21 04:49:40 · answer #1 · answered by bdancer222 7 · 0⤊ 0⤋
I use to work for them and if the balance is not paid in full before the due date, they go back to the last time you paid in full and calculate the interest from that day forward. If you are a great customer I would suggest calling in and explaining to them. Also volunteer if possible to send in the remaining balance that was due at that time. Just make sure you watch for your upcoming balance and due date. They usually can adjust 1 fee every 12 months. They will try to only credit back a certain % or dollar amount but keep insisting that you are a good customer if necessary.
2007-10-21 23:22:01 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The only way to get back to zero is to pay off the balance before the due date. If you can't do that, then you should stop using the card to minimize additional interest charges. Once you have cleared the balance, you can start using the card again.
You are wise to pay the card off each month. Credit cards are very convenient short term debt that is interest free, but if you use them to borrow for any length other than one month, you are wasting your money in high interest rates.
2007-10-21 11:38:07 · answer #3 · answered by Anonymous · 1⤊ 0⤋
i dont know did you pay in money order? did you try and priority mail this to the discover place? i might try and do thsat if i werer you,
2007-10-21 11:35:54 · answer #4 · answered by Anonymous · 0⤊ 0⤋