I have never had too many problems with my credit cards. I pay on time and do my best to pay off the balance each month. Yet from time to time they insist on doing something that irritates me to no end. This past summer I had an outragous "effective APR". When I called them on this I was told and assured that it had no impact on my finance charges, but that they had to put that information on there. It is apparently required by the government. No one could tell me how they compute this information and quite frankly they seemed unable to provide any rational answer as to what this information provides. I was told that it is different from my "APR". I still don't get it, not will anyone be able to tell me. The outrageous "effective APR" was reduced to its normal rate and has remained that way for months.
Today however I encountered a new piece of interesting business practices provided by my credit card company. To insure that my monthly payment is paid on time I decided to call said credit card company and pay over the phone. I have done this with other bills in the past as a way to pay in a timely fashion. Due to this wonderful electronic age that we live in there should not have been any problems. Even though I pay by check the whole transaction is done electronically and immediately posts to my account. Additionally I never receive a cancelled check from them either.
Much to my chagrin I was wrong. Did you know that this said credit card company actually charges you to take a payment over the phone? $14.95 if you speak with a person and $9.95 for an automated telephone payment. What a deal!!! I have to pay you even more to pay you on time. To their defence it is less to do this then to pay the also ridiculous late fee, but seriously all I want to do is pay you on your time schedule. What ever happened to the days when the customer was always right? Sheesh. I can't believe this. The more that I deal with large businesses the more distgusted I get. Honestly I feel that I am trying to do things correctly and in a noble manner, but any way these companies can make an extra buck they do.
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Start paying your bills, especially your credit card bills, online. You save money by not buying stamps and the payment takes place immediately instead of the days it takes for the check to be mailed and processed. It's really easy.
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