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.

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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?

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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.

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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.

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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?

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Jim Charter wrote:
> 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? 

No. Because it's a credit card, it's highly regulated. I believe one of 
the regulations is that they can't hold on to more than $X for more than 
Y days without refunding it, to prevent them from (for example) having 
you dispute a charge and then having them "refund" the money without 
actually returning it to you.

Try paying an extra three months ahead on your water bill some time, and 
see if they don't send it back.

> 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.

Probably reading the rules is easier. Check for "grace period" and see 
what it says.

-- 
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

Darren New wrote:
> Probably reading the rules is easier. Check for "grace period" and see 
> what it says.

More specifically, see what your grace period is and what your monthly 
billing date is. Sign up for on-line bill paying at your bank. Complain 
at them if it isn't free, or at least if it costs more than a stamp.

When you get the credit card bill, log in to your bank and set up a 
payment of the amount you owe, to go thru several days before it's due.

Job complete.

More-organized people collect the mail, open the bills, and put them 
into a little sorter with 31 slots in it, one for each day by which you 
have to deal with that bill, available at all good office supply stores. 
Then each day, when you pick up the mail, you look at which slots are 
coming up and handle at least the looming ones if not all of them.

Usually you have at least a week to pay any bills you get, often two or 
three. So sit down once a week at a specific time on a specific day and 
spend 10 minutes dealing with it, even if it's just writing the checks 
and stamping the envelopes rather than working it online.

If you're going on vacation, *then* overpay by how much you think you 
might spend, or at least overpay the minimum charges, or set up an 
online bill pay to go through for at least the minimum charges you 
expect about the time you expect to get the bill.

Failure to pay your cable bills on time is probably dinging your credit 
card accounts as well.

-- 
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

And lo on Wed, 06 Aug 2008 01:02:40 +0100, Jim Charter <jrc### [at] msncom>  
did spake, saying:

> 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.

Like Steve I'm following this thread and getting confused, but for a  
different reason. I have a credit card with one company, I've authorised  
them to withdraw (and pay in) money to one of my bank accounts (another  
company). About the second week of the month then pull the full amount  
owed for the previous month. The only time I have to do anything is if I  
don't want that to happen and I just want to pay the minimum and then  
incur interest charges.

Same thing with the majority of utility bills - the invoice comes through  
and the payment drawn a few days later. In some case they'll charge you an  
'admin' fee for not doing it this way.

-- 
Phil Cook

--
I once tried to be apathetic, but I just couldn't be bothered
http://flipc.blogspot.com

Post a reply to this message

Phil Cook wrote:
> And lo on Wed, 06 Aug 2008 01:02:40 +0100, Jim Charter 
> <jrc### [at] msncom>  did spake, saying:
> 
>> 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.
> 
> 
> Like Steve I'm following this thread and getting confused, but for a  
> different reason. I have a credit card with one company, I've 
> authorised  them to withdraw (and pay in) money to one of my bank 
> accounts (another  company). About the second week of the month then 
> pull the full amount  owed for the previous month. The only time I have 
> to do anything is if I  don't want that to happen and I just want to pay 
> the minimum and then  incur interest charges.
> 
> Same thing with the majority of utility bills - the invoice comes 
> through  and the payment drawn a few days later. In some case they'll 
> charge you an  'admin' fee for not doing it this way.
> 
Yeah, I might try and get organized enough to try something like that. 
At least for bills.  I didn't know you could do it for credit card.

You're probably confused because normally people of my age are a little 
more mature about these matters.

I had that set up once apon a time, I think with either cable or phone 
but had one of the payments bounce.  The company disallowed me to use 
that method after that.  I should probably try to set it up again.

With credit card though, I did like my +ve balance idea because it did 
cause me to monitor activity on the card, but gave me a cushion if I got 
the timing wrong.

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Darren New wrote:

> 
> More specifically, see what your grace period is and what your monthly 
> billing date is. Sign up for on-line bill paying at your bank. Complain 
> at them if it isn't free, or at least if it costs more than a stamp.


Yes I have to understand this grace period concept better.  I was under 
the impression that at say midnight of the day of the due date which is 
I think the 15th of the month, if I happened to have an amount owed 
showing, then I would be charged interest.  But if I put a transfer in 
to pay it before the deadline I would be okay.  So far, try as I might, 
I seem to forget to check at deadline time.

I do pay most of my bills online, but as onetime payments usually.




> 
> When you get the credit card bill, log in to your bank and set up a 
> payment of the amount you owe, to go thru several days before it's due.


Yeah I know, and most of hte time that works, it's just taxing for me to 
caonstantly remember.



> 
> Job complete.
> 
> More-organized people collect the mail, open the bills, and put them 
> into a little sorter with 31 slots in it, one for each day by which you 
> have to deal with that bill, available at all good office supply stores. 
> Then each day, when you pick up the mail, you look at which slots are 
> coming up and handle at least the looming ones if not all of them.


Wow! That's just way out of my league.  Even if I had the space for such 
a device my mail would start lapping the month.



> 
> Usually you have at least a week to pay any bills you get, often two or 
> three. So sit down once a week at a specific time on a specific day and 
> spend 10 minutes dealing with it, even if it's just writing the checks 
> and stamping the envelopes rather than working it online.

Gawd, shoot me now.


> 
> Failure to pay your cable bills on time is probably dinging your credit 
> card accounts as well.

Probably
> 


Thanks for taking the time, Darren

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