 |
|
|
|
|
|
| |
| |
|
|
|
|
| |
| |
|
|
Jim Henderson wrote:
> Well, with the debit card, you've got a PIN associated with it, so I
> don't quite understand the issue there.
Not the ones that work just like a credit card, AFAIK. In any case, the
legal system distinguishes. If someone's going to steal money, I want
it to be the bank's money, with them proving I owe it to them, rather
than my money, with me proving to the bank they need to give it back.
--
Darren New / San Diego, CA, USA (PST)
Ever notice how people in a zombie movie never already know how to
kill zombies? Ask 100 random people in America how to kill someone
who has reanimated from the dead in a secret viral weapons lab,
and how many do you think already know you need a head-shot?
Post a reply to this message
|
|
| |
| |
|
|
|
|
| |
| |
|
|
Jim Henderson wrote:
> One of the nastier things they have started doing is sending out these
> "convenience cheques" with low interest rates. You have to read the fine
> print to see what the % is they're charging for the use of the cheque,
> but even more insidious is that on some (Discover has done this) they
> require you use the card 2 times a month to keep the lower rate, but the
> payments you make go against the lowest interest rate first.
There's an ad around here for a *zero interest* loan. Fine print says
there's a 15% "administrative fee".
Post a reply to this message
|
|
| |
| |
|
|
|
|
| |
| |
|
|
Nicolas Alvarez wrote:
> There's an ad around here for a *zero interest* loan. Fine print says
> there's a 15% "administrative fee".
Depending on how long you have to pay back the loan, that could be a
pretty good dea.
--
Darren New / San Diego, CA, USA (PST)
Ever notice how people in a zombie movie never already know how to
kill zombies? Ask 100 random people in America how to kill someone
who has reanimated from the dead in a secret viral weapons lab,
and how many do you think already know you need a head-shot?
Post a reply to this message
|
|
| |
| |
|
|
|
|
| |
| |
|
|
Jim Charter wrote:
> Is it just me being paranoid? In order to avoid service charges on my
> credit card, it has been my practice to maintain a constant positive
> balance on the card. Enough that I wouldn't, though my own
> forgetfulness, incur a service charge because some amount I charged hit
> just at the due date and I forget to put money in. So now I see a debit
> on my account marked REFUND AS R.
>
> I phone the bank. I'm informed that it means REFUND AS REQUESTED. Who
> requested? Not me for sure. The bank's system requested it, and, I am
> told, sent me the check. And now I owe $9.50 on the account. I am told
> that the back is required to refund a long-standing credit on the account.
>
> 'You mean I can't keep a positive balance on my credit card so as to
> avoid a service charge?'
>
> 'Let me ask my supervisor'
>
> :elevator music:
>
> 'Mr Charter my supervisor says the system is set up to refund any long
> standing credit. She advises that if you want to keep a credit on the
> account that it be no more than about $50.'
>
> Unbelievable. So I am forced so play a sort of Russian roulette trying
> to keep the balance equal to my charges and I am allowed a $50 buffer to
> work with. I dunno. I feel conspired against.
Check to see if your card agreement allows them to refund positive
balances without your prior consent. If not, write a politely-worded
letter informing them that the account balance was low because they made
a transaction that you had not authorized, and that you will not accept
penalties that are consequent of their unauthorized account activity.
Finish by stating that failure to accommodate your request will result
in immediate account closure and that you will seek a court judgment
relieving you of the contested charge.
Since you have been maintaining a positive balance, they have probably
not been making any money off of you, so they will not be sorry to see
you go.
Regards,
John
Post a reply to this message
|
|
| |
| |
|
|
|
|
| |
| |
|
|
somebody wrote:
>
> Why is it so difficult to pay off your balance each month, especially in
> this day and age of electronic banking? It takes less effort than trying to
> maintain a positive balance.
Similar effort, I agree. It's completely irrational I'll admit, but I
find it easier, psychologically, to refresh a sort of pool or buffer
against future charges than to react to charges after the fact. I know
I'm being a baby but I also know how to lookout for my flaws after being
tripped up by them over the years. Maybe it allows, if you will, a
little more asynchronicity, or decoupling, and somehow that helps? It's
not a big deal, but then also why is it such a big deal for the bank if
I want to keep a +ve balance?
>
> That's why there's a delay and a grace period. Even if you forget a payment,
> calling within a reasonable time and saying you got the bill late in mail or
> some other lame excuse, they will rollback the charge - remember, they want
> your business.
>
I'll admit to being ill-informed and unsophisticated in these matters.
>
>>Unbelievable. So I am forced so play a sort of Russian roulette trying to
>>keep the balance equal to my charges and I am allowed a $50 buffer to
>>work with. I dunno. I feel conspired against.
>
>
> I am not sure you have a grasp of how credit cards work. There's no russian
> roulette, you get a bill, you pay it. It's no different than phone, gas,
> electricity, water, taxes, insurance... etc. Do you also maintain a positive
> balance on all of those?
>
Yes on phone and taxes. Wife pays the others. Well, I'd forget the
quarter tax payments if not for my wife reminding me. I do fall behind
on the cable payments but seem to muddle my way through that somehow.
They just keep adding to the charge. (I should check if there's a
penalty.) I am inconsistent, I agree. It worries me that the bank
charges a penalty but not so much the Cable guy.
In part, I think I got surprised by this just after listening to a radio
show where a guy just wrote a book about the abuses of the credit card
industry. So I was primed to react.
I realize I was a little over-dramatic with the Russian roulette line.
In my defense I developed the positive balance idea back when I
experimented with using the card for buying gas while driving taxi. I
would buy gas when 'bargain' opportunities arose as I drove to different
parts of the city. But the charges would come in from the different gas
companies very erratic and out of sequence and I always got nervous
around the due date. I didn't want to spend time every day transferring
money onto the card so I hit on the +ve balance idea. I think my
tripping their automatic refund thing must be related to amount as well
as time. I don't remember this happening then but it involved lower
amounts of money. But you have to understand, my mind is my clearer now
than it was even as little as two years ago.
Post a reply to this message
|
|
| |
| |
|
|
|
|
| |
| |
|
|
Invisible wrote:
> Jim Charter wrote:
>
>> Unbelievable. So I am forced so play a sort of Russian roulette
>> trying to keep the balance equal to my charges and I am allowed a $50
>> buffer to work with. I dunno. I feel conspired against.
>
>
> Um... Isn't it the credit card company's *job* to scam you out of your
> money? I mean, isn't that where 100% of their profits come from?
>
Well, that's where the tinfoil part comes in. The case can be made, but
they have a lot of arcane rules to conform to also. So I just don't know.
Post a reply to this message
|
|
| |
| |
|
|
|
|
| |
| |
|
|
Sabrina Kilian wrote:
>
> I've never let a credit card charge me a 'service fee'.
That's an impressive record. And having met you in person, I absolutely
believe you're capable of that kind of focus.
>
> I would say paying it on time is key,
Well see that is the thing, I was trying to pay ahead of time.
>
> So, no, not paranoid. Paranoid would be using cash for everything to
> stay untraceable.
Very tempting as a cab driver. I've actually been heckled by other
drivers when I stop at the bank to night-deposit my receipts.
Or refusing to use cash because the serial numbers
> could be traced back to you.
They can?
Or worse.
Oh sh*t, you think they know about the online stuff?
Post a reply to this message
|
|
| |
| |
|
|
|
|
| |
| |
|
|
Jim Holsenback wrote:
>
> that's why i don't accept credit cards in my shop ....
You have a shop? Cool.
they want an
> additional 3%.
NYC cabs get charged a 5% fee. And we did get to decide if we wanted it
or not. Bloomberg & Co decided for us.
Post a reply to this message
|
|
| |
| |
|
|
|
|
| |
| |
|
|
Darren New wrote:
>
>> 'You mean I can't keep a positive balance on my credit card so as to
>> avoid a service charge?'
>
>
> No. It's a credit card. (At least in the USA. IANAL.)
>
Yeah I guess. But that's the reason? Since it's called a credit card
account I can't keep a positive balance as a buffer? Their system seems
to be able to handle it, it expresses it as a negative amount owed, but
is programmed not to allow it. I know banks are subject to arcane and
sometimes surprising rules. I also know that they can seem pretty
sleasy and its hard to decide which is which sometimes. While I used
their phone menu system to inquire about this I was absolutely bombarded
with sales solicitations every step of the way.
"to hear about our ... product press 7
"to hear about our ... product press 8
"to hold for a representative press 9
>
> Don't you have a grace period in which to pay charges to the card?
I don't know, I assume so after reading these responses, I don't really
understand all the details, that's why I thought a +ve balance would
just be simpler.
Post a reply to this message
|
|
| |
| |
|
|
|
|
| |
| |
|
|
John VanSickle wrote:
> Check to see if your card agreement allows them to refund positive
> balances without your prior consent.
He would also need to check with a lawyer to see if state and federal
laws require them to do so regardless of the contract.
Probably not worth it, if he's not actually getting any fees.
--
Darren New / San Diego, CA, USA (PST)
Ever notice how people in a zombie movie never already know how to
kill zombies? Ask 100 random people in America how to kill someone
who has reanimated from the dead in a secret viral weapons lab,
and how many do you think already know you need a head-shot?
Post a reply to this message
|
|
| |
| |
|
|
|
|
| |
