OT: Last time I'll set foot in Home Depot

Got my last statement and was quite surprised to see a Late Fee of $25 in addition to the interest.

No one's fault but mine: I'm sure the Late Fee is called out in small print on some contract that I didn't read and I'm sure that the last bill got buried under a pile of diapers or accidently tossed aside, or perhaps pushed behind the dresser by our toddler. So, my fault for missing the payment.

Funny me - I thought that's what interest was for.

I'll take away three things from this experience: There's a Lowes 100 yards away from Home Depot, I'll shop there; I'll use a Visa instead of a BORG card from now on; I'll ask about Late Fees next time I feel like opening up an in-house card.

Reply to
mttt
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You might want to take a look at the terms of your visa card, there chief. They all have late fees.

Reply to
Frank Ketchum

sucks to be a deadbeat, huh?

dave

mttt wrote:

Reply to
Bay Area Dave

Some in-house CCs charge a late fee if not paid on the very day it's due. Many Visa, etc, cards charge only after 10 days late (many, but not all).

Actually, in-house CCs are the only consume loan product I think I've ever seen that charges for missing the due date by a day. Although I suspect your bad-credit sucker rip-you-off Visa cards do that, too (you know the ones, 23% interest, $250 charge to start, $7+/month account charge, and only give you a $300 limit, then charge to increase that)

--randy

Reply to
Randy Chapman

"Interest" is charged for the money you borrowed to make your purchases. A "Late Fee" is for not paying back a portion of the money you borrowed on time.

You can still shop at HD, I am sure they will still sell to you and not hold that mistake against you.

Reply to
Leon

You better check the terms on the Visa Card. Depending on the type and which bank issued the card late fees can run from $0 to $35.00.

-- Jack Novak Buffalo, NY - USA

Reply to
Nova

Good luck. I think my Visa charges $29 for a late fee plus a percentage of the balance. I use an automatic payment to avoid that little problem. Most CCs can be set up to withdraw the minimum payment from you checking automatically, eliminating any late fees. You just make a second payment each month to pay off the balance or whatever amount you want to pay.

Tim Douglass

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Reply to
Tim Douglass

Tue, Sep 23, 2003, 3:56pm (EDT-2) snipped-for-privacy@donotuse.com (mttt) I'll take away three things from this experience: There's a Lowes

100 yards away from Home Depot, I'll shop there; I'll use a Visa instead of a BORG card from now on; I'll ask about Late Fees next time I feel like opening up an in-house card.

Foolish man. The only useful thing you seem to have learned is to not shop Home Depot. Don't use any credit card, period. Pay cash, or do without, until you do have the cash. Or, if you just can't do without, get a personal loan from your bank and buy whatever, less interest.

JOAT The whole of life is a learning process.

- John Keel

Life just ain't life without good music. - JOAT Web Page Update 23 Sep 2003. Some tunes I like.

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Reply to
Jack-of-all-trades - JOAT

Call 'em up and complain. Odds are they'll waive the fee (once).

Reply to
brian roth

Reply to
Jim K

Reply to
Jim K

do what I do: set up auto-pay through your bank. go online to manage your account. Beats licking stamps. payments won't ever be late. You can either input the amount manually for each payment, or set an upper limit and use "auto-pay" so that if you forget, the payment will go through for the correct amount of the monthly bill. I usually write about 2 or 3 checks a month now, instead of over 15.

I forgot the :) when I said it sucks to be a deadbeat. I hope you know I was just being silly!!

dave

mttt wrote:

Reply to
Bay Area Dave

Back in the old days Vinnie would come over and break your kneecaps when you missed a payment. This modern generation of businessmen is soooo soft.

Some people would complain if you hung them with a new rope.

Reply to
Rico

On Tue, 23 Sep 2003 15:56:36 -0600, "mttt" pixelated:

Capital One gets $29.00 for that.

Look at the interest rates they get on cards now. Crikey, that

31% rate used to be called USURY!

Didja mail in the cut-up credit card with their late fee?

---------------------------------------------------------- --== EAT RIGHT...KEEP FIT...DIE ANYWAY ==--

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- Schnazzy Tees online

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Reply to
Larry Jaques

Complain? Ask forgiveness, beg mercy, plead stupidity... maybe, but complain?

-- Jack Novak Buffalo, NY - USA

Reply to
Nova

Exactly and while it is hard to believe, many credit card companies will up their interest rate to you if you are late on some one else's credit card.

Reply to
Leon

Even worse, some of the card issuers have added a new tactic : they'll raise their rates to the max if you're late paying some other card.

Capital One is a case in point : they raised their interest rates from

9.9 to 27.,79 per annum because another card issuer noted a late payment.

Cut the Cap One card up in itty-bitty pieces, even though it was a nominal 9.9 per annum rate with a zero balance (that's the way I keep all my credit cards - zeroed out)>

Cheers, Fred McClellan the dash plumber at mindspring dot com

Reply to
Fred McClellan

If your late, your late...........but, the CC co. like to hold your payment sometime. I believe USA cc was just sued recently over this practice. What bothers me is that when you send them considerbly more than the minimum amount "every" month(2-4x more) they should let ya slide a few days if your payment got there a few days late acouple of times a year. I called one the other day, payment was due on the 7th(Sunday), posted pymt on the 8th, charged me 35.00 bucks, told them to close the account and transfer my balance to another account. There's too many cards out there that let ya transfer balances for 0% - 3-5% for 6 months to a year, that I just don't put up with their BS anymore. Screw 'em!!!

Reply to
ChairMan

Didn't you wonder why more than a month went by without recieving a bill, or having to send in a payment?

You know, you don't have to wait until you get a bill in the mail to send them money...they'll accept it as often as you're willing to send it to them.

I agree with BAD, "sucks being a deadbeat, eh?"

mikey.

mttt wrote:

Reply to
EmbErna

JOAT makes the most sense here. PAY CASH!

Reply to
djazz

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