More and more credit card outfits are diminishing their grace periods between statement dates and payment due dates. One good example is my SAMS Club credit card bill this month. The statement cutoff date was as always the 1st of the month. In past months the payment due date always hovered around the 25th/26th. This month for some odd reason it became the 21st.
We who have computers and are monitoring our credit card accounts have the opportunity to make our online payments any time we wish, but there are more people out there who don't have computers but have their bank bill pay service set up to pay specific bills on specific dates.
Any 4-5 day variance can therefore result in late payments and the penalties associated with a late payment.
No wonder banks are getting richer and richer off of fees, and ruining peoples' credit histories.
We who have computers and are monitoring our credit card accounts have the opportunity to make our online payments any time we wish, but there are more people out there who don't have computers but have their bank bill pay service set up to pay specific bills on specific dates.
Any 4-5 day variance can therefore result in late payments and the penalties associated with a late payment.
No wonder banks are getting richer and richer off of fees, and ruining peoples' credit histories.
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