Cutie Pie 2 asked:
I missed one credit card payment by ONE DAY. On my next statement, I saw a finance charge by my credit card company (Citi) for $18.00. I have always paid my balance in full prior to the due date until the last statement. Will I always see a finance charge on my statement?
http://1mortgagecalculator.info
I missed one credit card payment by ONE DAY. On my next statement, I saw a finance charge by my credit card company (Citi) for $18.00. I have always paid my balance in full prior to the due date until the last statement. Will I always see a finance charge on my statement?
http://1mortgagecalculator.info
Not usually. I’ve done the same thing with a Bank of America credit card and everything was back to normal with the next billing cycle… I always pay in full and never have any sort of finance charges (unless I make an international purchase, but that’s another story).
You need to know that Credit card companies are out to enslave you.
videos about their tricks:
They aren’t supposed to hold it against you unless 3 days late. Time to switch cards away from Citi.
You will likely see a finance charge (but not a late fee) on your next bill, but none after that (if you keep paying on time). Your APR will go up, but this doesn’t matter if you pay your balance in full anyway.
Call you credit card company and ask them if they will take off the late fee and finance charges. If you have paid on-time and your card is over two year old, they will likely take off the fee.
Don’t forget, they make money every time you buy something. If you always pay on-time, this is virtually risk-free money for them. If they don’t take the charge off, remind of this and threaten to cancel your card. If they still leave the charge on, get another card (not from Citi) and stop using the present one. If you want, you can cancel the Citicard for piece of mind after getting a new one; however, leaving it open will improve your credit score slightly.
PS Citi is is much worse financial state than you are