Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
No credit card statement this month
Old 08-18-2009, 06:53 AM   #1
Full time employment: Posting here.
hankster's Avatar
 
Join Date: Jan 2008
Posts: 645
No credit card statement this month

We've had this card for many years and have always, without fail received a statement each month showing balance and minimum payment due. We are what the CC card companies call "freeloaders" in that we pay the balance in full each month (for the last year or so). I checked by phone and the automated voice gave me a balance figure and said no payment is due at this time.

Is this a new trick? Don't send a statement and hope the freeloaders miss it so we can smack them with interest and fees? Just wondering if anyone else has run into this.
__________________

__________________
"There is no dignity quite so impressive, and no independence quite so important, as living within your means." Calvin Coolidge
hankster is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 08-18-2009, 07:01 AM   #2
Thinks s/he gets paid by the post
Rambler's Avatar
 
Join Date: Jul 2007
Posts: 2,250
I had that happen once about 10 years ago. Then, the next month they charged interest on the balance because it had not been paid in full the prior month. I'm a "freeloader" too...not really though because the card companies charge retailers 1.5-5% for CC purchases. Anyway, I have the standard billing dates noted in my Outlook calendar, and I go on line the day after the billing date and just pay them now, whether or not they are giving me a "freebie" month, otherwise I'll have to pay interest and I feel it could damage my credit report...not that I have any debt or ever intend to, just want to keep it clean.

R
__________________

__________________
Find Joy in the Journey...
Rambler is offline   Reply With Quote
Old 08-18-2009, 09:26 AM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
TromboneAl's Avatar
 
Join Date: Jun 2006
Posts: 11,199
I'd think it's just an error, or that they have switched you to online statements only mode.
__________________
Al
TromboneAl is offline   Reply With Quote
Old 08-18-2009, 10:04 AM   #4
Moderator
bssc's Avatar
 
Join Date: Dec 2005
Posts: 9,934
Some CC companies offer a "Payment holiday" which allows you to skip a payment. As you note, you will have to pay interest. And you are still responsible for the balance. They should have an address where you can send a payment. Check to make sure they have a payment. They should have not stopped sending you a statement, it probably got lost in the mail but it could not hurt to bug an operator.
__________________
Angels danced on the day that you were born.
bssc is offline   Reply With Quote
Old 08-18-2009, 10:09 AM   #5
Thinks s/he gets paid by the post
Rustward's Avatar
 
Join Date: Apr 2006
Posts: 1,572
Quote:
Originally Posted by hankster View Post
We've had this card for many years and have always, without fail received a statement each month showing balance and minimum payment due. We are what the CC card companies call "freeloaders" in that we pay the balance in full each month (for the last year or so). I checked by phone and the automated voice gave me a balance figure and said no payment is due at this time.

Is this a new trick? Don't send a statement and hope the freeloaders miss it so we can smack them with interest and fees? Just wondering if anyone else has run into this.
Hank, are you saying that you did not receive a statement when you were expecting one? Could it have been mis-delivered by the postal service? That does happen from time to time. We do monitor things online. The CC companies would probably prefer that we all sign up for paperless accounts, but we have not done that.

Some of our cards do not send a statement if there is no balance.

I have called to complain that the statements take too long to arrive. The response I usually get is that the CC company is not responsible for what happens at the postal service -- even if the postal service completely fails to deliver my statement. Haven't checked, but there is probably some verbage in the cardholder agreement that makes the cardholder totally responsible no matter what else happens -- or fails to happen.
__________________
Rustward is offline   Reply With Quote
Old 08-18-2009, 10:45 AM   #6
Thinks s/he gets paid by the post
 
Join Date: Feb 2007
Posts: 2,424
Is it possible that they changed the statement date by a few days and you don't have a payment due right now but you will after the new statement date?
__________________
Sue J is online now   Reply With Quote
Old 08-18-2009, 02:07 PM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
mickeyd's Avatar
 
Join Date: Apr 2004
Location: South Texas~29N/98W
Posts: 5,884
Quote:
Originally Posted by hankster View Post
We've had this card for many years and have always, without fail received a statement each month showing balance and minimum payment due. We are what the CC card companies call "freeloaders" in that we pay the balance in full each month (for the last year or so). I checked by phone and the automated voice gave me a balance figure and said no payment is due at this time.

Is this a new trick? Don't send a statement and hope the freeloaders miss it so we can smack them with interest and fees? Just wondering if anyone else has run into this.
I suggest that you check your statement online. If you know that you have charged stuff since your last statement, you could not go wrong by paying them what is due this month lest you fall into an abyss that you may not be able it extricate yourself from...

Quote:
freeloaders
~
BTW I thoufght the word was "deadbeats".
__________________
Part-Owner of Texas

Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx

In dire need of: faster horses, younger woman, older whiskey, more money.
mickeyd is online now   Reply With Quote
Old 08-19-2009, 12:34 AM   #8
Thinks s/he gets paid by the post
Goonie's Avatar
 
Join Date: Oct 2006
Location: North-Central Illinois
Posts: 3,198
Quote:
Originally Posted by Rambler View Post
.....I have the standard billing dates noted in my Outlook calendar, and I go on line the day after the billing date and just pay them now, whether or not they are giving me a "freebie" month, otherwise I'll have to pay interest and I feel it could damage my credit report...not that I have any debt or ever intend to, just want to keep it clean.

R
Same here! I go online late in the evening on the "close" date for the statement, look the statement over, and pay the bill right then & there! I've been doing it this way for several years, and it's become just about as routine as checking my email.
__________________
Goonie is offline   Reply With Quote
Old 08-19-2009, 12:44 AM   #9
Moderator Emeritus
Nords's Avatar
 
Join Date: Dec 2002
Location: Oahu
Posts: 26,619
Quote:
Originally Posted by hankster View Post
Is this a new trick? Don't send a statement and hope the freeloaders miss it so we can smack them with interest and fees? Just wondering if anyone else has run into this.
I think it's fairly common. If your balance isn't big enough to trigger a payment then they don't bother to spend money telling you about it.

We've been getting online statements for at least five years. We always get an e-mail notification that our statement has been posted, whether we owe money or not. We never get an envelope full of unsolicited offers, and we never have to worry about mailbox theft or delivery problems.

You'll only keep getting paper statements as long as the company can sell ads to others who want to pile into your envelope. Once that dies out then you'll be forced online or your card will be canceled...
__________________
*
*

The book written on E-R.org, "The Military Guide to Financial Independence and Retirement", on sale now! For more info see "About Me" in my profile.
I don't spend much time here anymore, so please send me a PM. Thanks.
Nords is offline   Reply With Quote
Old 08-19-2009, 08:20 AM   #10
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Sep 2005
Location: Northern IL
Posts: 18,288
If it has happened once in many years, isn't "it got lost in the mail" the simplest answer? It does happen.

Of course you are responsible for paying the bill on time. If that was not the case, every Tom, Dick and Harry would say it got lost in the mail from time to time, and how could any company prove otherwise? Esp for regular recurring bills. For one time bills, you normally would get a 2nd or 3rd notice before any fees would be incurred.

I have my CCs set up for online payment, a slightly above average number is pre-entered as the default for each month. So if I do forget to change it for the upcoming month, I at least will not get hit with a late fee, and probably no interest either.

I view my checking account online often enough to remember to think about that upcoming payment, else I would do what others suggest, set up a reminder, mark your calendar, whatever works for you.

-ERD50
__________________
ERD50 is online now   Reply With Quote
Old 08-19-2009, 08:54 AM   #11
Thinks s/he gets paid by the post
 
Join Date: Jan 2006
Posts: 2,933
I don't know when you called in relation to the statement close date and how your cc
does it but I know when I call on the phone, the automated voice often tells me no payment is due. Not until some point later in the cycle does it say how much and when it is due.

Another option is to opt for autopay. Just started this yr after we went on an extended trip and had to worry about when the bills are coming and how to pay. Now nothing to
do except monitor for their mistakes which, I am pretty sure, will be < or = to mine.
__________________
kaneohe is online now   Reply With Quote
Old 08-19-2009, 10:49 AM   #12
Thinks s/he gets paid by the post
Goonie's Avatar
 
Join Date: Oct 2006
Location: North-Central Illinois
Posts: 3,198
Quote:
Originally Posted by kaneohe View Post
Another option is to opt for autopay. Just started this yr after we went on an extended trip and had to worry about when the bills are coming and how to pay. Now nothing to do except monitor for their mistakes which, I am pretty sure, will be < or = to mine.
I have all of our bills on auto-pay, except for the one CC that I occasionally use. I know it's 'close' date, and almost always pay it late that evening or the very next day. If I'm on a trip at that time, I pay it at the first possible opportunity (I always travel with my laptop).
__________________

__________________
Goonie is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Will closing a credit card hurt my wife's credit score? bank5 Other topics 4 06-03-2009 07:01 AM
Pre Paid Credit Card/ Gas Card or Credit Card nphx Other topics 4 04-29-2008 02:04 PM
$25 credit card refund JohnDoe FIRE and Money 7 01-02-2008 12:13 AM
Best cash rewards credit card for someone with no credit history? summer2007 FIRE and Money 11 10-16-2007 03:23 AM
Best Bonus for Credit Card Expenitures -Frequent Flyer cards or Cash-back card? ScaredtoQuit FIRE and Money 19 04-21-2007 04:29 PM

 

 
All times are GMT -6. The time now is 02:54 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.