Is this a New Trick or What?

[45Frank]

What is the name of your state? NC
My credit has been clean for nearly 6 years now no late fees or payments. Since divorce.
I always pay my bills off at the end of the month they're recieved. I Know it's my fault always wait till the last day or two to pay on-line. No more.
My question is that the last few payments I've had to make are taking 2-4 days to post and I am being charged late fees. I believe I'm being blackmailed since two companies have said they will not report me late if I pay the $35.00 late fee. I use these cards as a convienance and usually get a % off at the register, this is the only time I use them.
When I pay online it says your request has been recieved with the date I pay, before the due date. Yet they don't post till after the due date.
Is this legal and is there any recource?
Or are they loosing money on me and figure this is the way to make it back. I have read all the disclaimers and no place does it say it wil take days to post.

 

[racer72]

Contact your state Attorney General's office about the practice. I had a bill show up as paid late even though I paid it online 8 days prior to the due date. The transfer of funds happened within minutes of my online payment. A letter from the Attorney General's office fixed the problem.

 

[efflandt]

It probably depends upon your bank and the creditor. If it is all handled with electronic funds transfer (like from major bank checking account to credit card, or electronic bill pay for phone or electric arranged from creditor end), it should happen by the following night if too late in the day for current evening (ie, allow 2 days). If the bank and credit card are related, it might even happen instantly (during certain hours).

Another checking account I have at a thrift related to my home loan says to allow 5 days period. But payments to credit cards seem to happen in one or two nights.

If they have to mail a check, you should allow more time. One piece of 1st class mail that our California factory sent to our Illinois office took 11 days, although it is more commonly within a few days.

You have to be particularly cautious about creditors (like major credit cards) that have due dates that land on Saturday, Sunday, or holidays when impossible to pay. Or sometimes they keep moving the due date earlier and earlier. If you do not pay attention, too late may come too soon. I think they do that intentionally because late fees and higher interest rates are very profitable.