 |
|
|
|
|
|
| |
| |
|
|
|
|
| |
| |
|
|
And lo on Thu, 07 Aug 2008 13:06:11 +0100, Jim Charter <jrc### [at] msn com>
did spake, saying:
> 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.
Well you can in the UK
> You're probably confused because normally people of my age are a little
> more mature about these matters.
Eh? You mean where I monitor bills and credit card statements as one
combined outgoing prior to payment dates and ensure that funds exist
within the bank account to deal with them in advance such that going on
holiday for a fortnight and not being able to get to the bills doesn't
mean me returning to invoice plus reminder plus reminder plus threatening
letter; that sort of maturity?
> 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.
As I said some companies here penalise you if you don't do things this way.
> 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.
That's the bizarreness so you buy something on CC for $40 then when it
comes to pay you send them $50 so you have positive $10? The only way I
see this as a good thing is if the credit card pays interest on the
amount, which I know some do, but in that instance they wouldn't be
refunding it to you so why do it?
--
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
|
|
| |
| |
|
|
|
|
| |
| |
|
|
Jim Charter wrote:
> 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.
Yes. But there's a grace period, meaning that if you charge something on
the 1st, and it shows up on the bill on the 3rd, and the payment is due
on the 10th, that particular charge won't be part of what you need to
pay. In other words, if your payment date is the 15th, anything charged
after the beginning of the month shows up not on this bill but on the
next bill, giving you a two-week grace period. They should be mailing
you the bill weeks before the payment due date. If they haven't mailed
you the bill for it, you don't need to pay it yet, even if it was
charged between the time they mailed you the bill and the time the bill
is due.
> 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.
Pay it when the bill shows up. Leave it on the breakfast table, so it's
annoyingly in the way every morning, then just ... take care of it.
There are some things you have to do, like putting gas in the car, that
you just have to do.
> I do pay most of my bills online, but as onetime payments usually.
Me too. I used to just write checks, but paying online is just as easy
at this point. And handy if you know you'll be away.
> Yeah I know, and most of hte time that works, it's just taxing for me to
> caonstantly remember.
What's to remember? The bill shows up in the mail, you pay it that day. :-)
> 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.
Well, yes. To be honest, I don't even do that. :-) But it's the way
(say) a small business handles it, where it's worth deferring bills
until the due date.
Better is to just pay it when it shows up.
> Thanks for taking the time, Darren
Sure. It's just a habit you need to get into, like looking at the gas
guage once in a while, and stopping when you need to.
--
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
|
|
| |
| |
|
|
|
|
| |
| |
|
|
Phil Cook wrote:
> Same thing with the majority of utility bills - the invoice comes
> through and the payment drawn a few days later.
While handy, it hasn't been available in the USA long enough for me to
trust it to work reliably. :-) It only took them about 5 or 10 years
before direct deposit failed to suck. No way am I letting them take it
*out* without my interaction.
--
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:
> > 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.
>
> Pay it when the bill shows up. Leave it on the breakfast table, so it's
> annoyingly in the way every morning, then just ... take care of it.
Never underestimate the extent one can get used to junk lying around.
> There are some things you have to do, like putting gas in the car, that
> you just have to do.
I need gas. I don't need to pay the bill. Not paying a credit card bill
does not have immediate consequences.
--
The severity of the itch is proportional to the reach.
/\ /\ /\ /
/ \/ \ u e e n / \/ a w a z
>>>>>>mue### [at] nawazorg<<<<<<
anl
Post a reply to this message
|
|
| |
| |
|
|
|
|
| |
| |
|
|
Jim Henderson wrote:
>> I also don't use debit cards, for similar reasons.
>
> Well, with the debit card, you've got a PIN associated with it, so I
> don't quite understand the issue there. Of late, I've preferred to use
If you can use it as a credit card, then no. No PIN is needed and the
money is still debited from the account.
--
The severity of the itch is proportional to the reach.
/\ /\ /\ /
/ \/ \ u e e n / \/ a w a z
>>>>>>mue### [at] nawazorg<<<<<<
anl
Post a reply to this message
|
|
| |
| |
|
|
|
|
| |
| |
|
|
And lo on Thu, 07 Aug 2008 16:25:17 +0100, Darren New <dne### [at] sanrrcom>
did spake, saying:
> Phil Cook wrote:
>> Same thing with the majority of utility bills - the invoice comes
>> through and the payment drawn a few days later.
>
> While handy, it hasn't been available in the USA long enough for me to
> trust it to work reliably. :-) It only took them about 5 or 10 years
> before direct deposit failed to suck. No way am I letting them take it
> *out* without my interaction.
Fair enough, I've had reliable direct deposit for over 15 years, and
direct debit for over 10 which is why I found this rigmarole over positive
credit balance etc. a bit odd.
--
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
|
|
| |
| |
|
|
|
|
| |
| |
|
|
Jim Charter wrote:
>> 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.
I never opted for this. Times have arisen where I wanted to dispute a
charge or two. I'd rather dispute first and pay later than the reverse.
If it's your first few offenses, you can usually get fees waived. In my
first so many years of using a CC, I'd rarely been late on a payment and
always called and got an extension or a waiver. Then one time it
happened again. I just got sick of it all - the reason was that whereas
before it was late if it were paid after midnight, now it was late if
paid after 5pm. Then it became late after 4pm (they invoked a time zone
argument). So I just said to them:
"I'm kinda sick of this. I won't dispute anything. But please shut down
my account and I'll pay whatever's left + fines".
They "convinced" me to keep the account open if they'd waive the fines.
I've been late only once after that, and they played a new "trick" on
me. Deadline to pay was, say, May 1st. I missed it and thought, "What
the heck, it's too late, I'll pay when I get the next statement and pay
both together". So I got a late fee and interest, which showed up on my
next bill. I paid it all on time (I always pay the whole balance). Then
on the *next* bill, I get another interest charge. How come? I had paid
the whole balance! Well, it was a sort of residual interest on the
earlier interest. Once I'd paid that, I got no more interest charges. It
makes sense, but a lot of CC companies didn't do that in the past. I
hear it's becoming more common.
I now try to use the CC for online-only transactions. There was a long
while where I just kept it at home. I try to pay whatever I can in cash
now. Not to save money, but I got wary of various companies knowing my
shopping habits.
Paranoia, as Sabrina said.
--
The severity of the itch is proportional to the reach.
/\ /\ /\ /
/ \/ \ u e e n / \/ a w a z
>>>>>>mue### [at] nawazorg<<<<<<
anl
Post a reply to this message
|
|
| |
| |
|
|
|
|
| |
| |
|
|
On Wed, 06 Aug 2008 16:05:52 -0700, Darren New wrote:
> 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.
Oh, I see - yes, and that additional bit of information there on the
legal side of things makes perfect sense to me.
Jim
Post a reply to this message
|
|
| |
| |
|
|
|
|
| |
| |
|
|
On Thu, 07 Aug 2008 11:02:04 -0500, Mueen Nawaz wrote:
> Jim Henderson wrote:
>>> I also don't use debit cards, for similar reasons.
>>
>> Well, with the debit card, you've got a PIN associated with it, so I
>> don't quite understand the issue there. Of late, I've preferred to use
>
> If you can use it as a credit card, then no. No PIN is needed and
the
> money is still debited from the account.
That's true, hadn't even thought of that.
Jim
Post a reply to this message
|
|
| |
| |
|
|
|
|
| |
| |
|
|
On Wed, 06 Aug 2008 23:35:15 +0100, St. wrote:
>>> Not via e-mail.... ;-)
>>>
>>> But of course, you're using a different meaning for "cheque" than I am
>>> -
>>
>> ...or maybe not, now that I reread it.
>
> Ah, no probs mate, it was the 'mailbox' word that made me think
> that.
Darned technology, anyways. ;-)
>> But yeah, the credit card companies have started sending this out as a
>> way to allow you to draw on your credit line; usually they have some
>> sort of special promotional interest rate associated with them.
>
> Oh, I get those almost five days a week from differing banks than
> my
> own. I can have £10,000 credit if I want, (instantly), but since my
> early days living on the street and such, I've learnt the value of money
> I think, (but I've got some heavy sh*t going on at the moment - damned
> inland revenue!)
>
> I use a debit card only and will never have a credit card.
In thinking about what Darren wrote not long after what you wrote here,
might be worth another thought on that. Just does require some
management and discipline = two things I'm not overly good at.
>> The one that *really* bothers me, though, is when they pre-fill the
>> dollar amounts in.
>
> Yes, it is tempting, but with the way the world is working now, you'd
> be
> foolish to use any credit unless you can pay it in time. I pity young
> home buyers. It just isn't going to happen the way it did a few years
> ago for them.
True enough; when my first credit card company pushed my limit over $10K,
I got much more cautious with the usage because I don't want to owe that
kind of money on an unsecured loan of any kind. I'd much rather have
things paid off (that's a really good feeling to have).
Jim
Post a reply to this message
|
|
| |
| |
|
|
|
|
| |
|
|
