Off Topic: I've got $2000 worth of electronics and some pornography for sale. I'm a very motivated seller.
(kidding, of course)
On Topic: I had someone nab a credit card recently. It was the typical BS to get it all sorted out. This isn't the first time I've had to replace a lost or stolen card. Every other time, the (legit) balance was transferred to a new account, and I'd only have to pay that new account. The side effect is that I would get some extra time in my billing cycle. Say my card was reported stolen on the 10th of the month, and my payment due date is the 15th. Well, the bank would "pay" my card off so no payment was due the 15th. The next month I'd owe a payment on the new account around the 10th.
Not so this time (Bank of America). I still had to send in a payment. I normally do this electronically, but since my account was closed, I mistakenly assumed that I couldn't access it via the Internets. Once I got the new cards in the mail I went to register them for online access/payment. It turns out this was done automagically, and I still had owed a payment... which was now 2 days late.
I pay off my balance every month, so I was a bit angry that they charged me $40 late fee, finance charges ($50+) and jacked up my rate. I got them to reverse most of the charges. They ended up sticking me with 1/2 of the late fee. I had to threaten to leave to get the finance charges refunded. These companies are really penny-wise & pound-foolish. I would typically spend $2000 a month on that card. Because they jerked me out of $19.50, I barely use the card now.
(kidding, of course)
On Topic: I had someone nab a credit card recently. It was the typical BS to get it all sorted out. This isn't the first time I've had to replace a lost or stolen card. Every other time, the (legit) balance was transferred to a new account, and I'd only have to pay that new account. The side effect is that I would get some extra time in my billing cycle. Say my card was reported stolen on the 10th of the month, and my payment due date is the 15th. Well, the bank would "pay" my card off so no payment was due the 15th. The next month I'd owe a payment on the new account around the 10th.
Not so this time (Bank of America). I still had to send in a payment. I normally do this electronically, but since my account was closed, I mistakenly assumed that I couldn't access it via the Internets. Once I got the new cards in the mail I went to register them for online access/payment. It turns out this was done automagically, and I still had owed a payment... which was now 2 days late.
I pay off my balance every month, so I was a bit angry that they charged me $40 late fee, finance charges ($50+) and jacked up my rate. I got them to reverse most of the charges. They ended up sticking me with 1/2 of the late fee. I had to threaten to leave to get the finance charges refunded. These companies are really penny-wise & pound-foolish. I would typically spend $2000 a month on that card. Because they jerked me out of $19.50, I barely use the card now.
