Is my credit card payment really “late”?


Cynthia Morgan’s credit card claims she’s made too many “late” payments and is reporting her to a collection agency. But she says she’d paid her credit card bill. Who’s right?

Question: I recently got a credit card through Credit First National Association (CFNA). I sent my first payment July 10 through my online bill pay and scheduled a payment to go to them each month on the 10th.

In August, after returning from a three-week trip, I saw a “late” notice from CFNA. I assumed that since the bank showed the payment was sent, that the two had crossed in time.

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But today I found out that I’m overdue and have been reported to a credit agency. Come to find out they “may reject any payment not made through their official website.” They have the two checks, according to my bank, but they refuse to accept them since I didn’t go through their website.

I finally got them to admit that they did get and cash one of the checks for the August payment, but that didn’t matter. I still didn’t take care of this and was being sent to collections.

I explained that I had the e-notices from the bank to show that I had sent the payment, and that I would be happy to send those notices to them. I was told that they did not have an address to handle that type of documentation.

The agent then tried to get me to make a voice payment, but informed me that there would be a $10 fee for that. I explained that it was their fault they wouldn’t take the money, not mine. I was then treated to a re-iteration of the fine print from the credit agreement stating that, “they may reject any payment not made through their website.” I finally told them I would mail them a check and they could pay for the labor and work in processing it since I had made more than an adequate effort to pay them.

I did try to register on their website just now, but it says my information is invalid. Also, according to the customer service agent, they have been calling me every day. Go ahead, get my cell phone records. There isn’t a single call from them!

I called my bank, and expressed surprise that it was legal to do that, but they said they couldn’t help. The bank agent did send an email to the other agents indicating there was an issue with that company.

I would like a refund of the two late payment fees, and a letter to the credit agency indicating that I am not delinquent. Can you help? — Cynthia Morgan, Colorado Springs, Colo.

Answer: You should have squared away your electronic payments with the company this summer, when you applied for the card. If the bank wasn’t receiving your money correctly, it needed to notify you about that, and it apparently didn’t.

CFNA describes itself as “one of the country’s premier consumer finance lenders.” It specializes in financing tires and auto repair costs, adding that it is “strong, stable, responsive and caring.” With a description like that, you’d expect it to repair your credit card misunderstanding quickly and compassionately.

It’s hard to say exactly what went wrong with your payment. More likely, it was several things that failed, including CFNA’s notification system — the promised series of courtesy calls about your overdue bill and the way you were initially notified about your payment issues.

CFNA’s terms and conditions for its card are clear: You have to make a minimum payment every month. I had a little more trouble finding information about the type of electronic payments that were acceptable, especially the part about CFNA only accepting money through its website.

In fact, the company claims it offers three ways to pay: Online, via its site; by money order; and by electronic debit payment from your checking account. “Payments made any way other than these three options may be delayed,” it says, but not necessarily rejected outright.

You might have avoided this by heeding the initial warning CFNA sent you late this summer, rather than assuming the payments crossed in the mail.

I think a brief, polite email to CFNA sent through its website might have cleared up some of these misunderstandings, as opposed to the calls. You could have started with its online contact form and then escalated to someone at CFNA, or its parent company, Bridgestone. Email addresses follow the format [email protected] (in other words, I’d be [email protected], but please don’t try that, since I don’t work there).

I contacted CFNA on your behalf. The company found and acknowledged all your past payments and withdrew its report to a collection agency.

Is CFNA too picky about its payments?

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74 thoughts on “Is my credit card payment really “late”?

        1. Wrong. Cancel it because it has terrible customer service. The LW should use it – then pay it off. If you don’t, you’ll end up paying higher interest rates because of the credit score will go down.

          1. The problem is this card is a trap that will cause her credit score to go down as she repeatedly has late payments because of its policies.

            Or she can give them access to her bank account, another bad idea.

        2. The problem is CFNA issues cards to people with bad credit and low income to finance things they need. It’s unlikely the OP would be able to find another card, and sadly, in today’s society, there are a lot of things that can’t be done without a credit card. Even worse, companies that claim to help people with poor credit and low income, typically have policies that milk them for all they can get because they know they don’t have the means to fight it or are not always savvy enough to notice. I really think we need to do more in the way of consumer protection for the predatory lenders/banks that target and rip off the poor. And people with little means are often unaware of alternatives like secure credit cards they can get through credit unions. Airlines are saints in comparison to predatory lenders.

          1. A person may need to be weary about secured credit cards. In 2000, a co-worker asked another co-worker and myself to review a credit card offer that she received. It was a secured credit card (need to make a deposit) but you could only use it to buy merchandise from their catalogwebsite…the merchandise was outdated (i.e. the computers were two modelsupgradesprocessors behind) and the prices were overpriced. The pitch was buy stuff from us and rebuild your credit. Personally, I think it was a way to sell outdated, last year’s models, closeouts, etc. merchandise at outrageous prices.

          2. That is so sad, sounds like not only were they clearing old stuff, but they were preying on people with bad credit to make even more money doing it. Honestly, I woudl call it a scam. I mentioned credit unions because they tent to be less scammy and more consumer friendly.

          3. In the bankruptcy practice, I came across all kinds of very sketchy credit cards and other financial products which were partially responsible for driving the client into BK.. It was terrible. Certain banks prey on people.

            But payday loans and rent to own are far far worse. One client is renting a laptop from a rent to own type place. The original price of the laptop was 2k. I seriously doubt that it was worth more than 500-600 in the open market

          4. Nikki’s mom and stepdad were going to do the rent to own thing on a TV. They wanted $50 per week for it. I bought them a 40″ HDTV with Blu-Ray player for $400. They paid the $50, but it was per month, and that they had no problem paying (it’s been paid off awhile now).

            I think the $50 was for a year. That would have in the end cost them $2600 for what would have been less than they got with paying me a total of $400.

    1. It is not a VisaMasterCardAMEXDiscover credit card, it is a store credit card…it can only be used at a Firestone store.

  1. I don’t even know how to answer this. One would expect that a credit card company would want to make it easy for people to pay them.

    1. No, they don’t want to make it easy for you to pay them. The harder it is to pay them the more likely they are to extract additional revenue from you in interest, and other fees.
      This sounds like one of those “store” cards, that a particular or specialized merchant uses to finance purchases made only through its store, much like a department store card, in this case an auto repair merchant.

        1. That’s the idea. Give credit to people with a poor history of financial management, and just like airlines, the finance company makes the bulk of their profit from fees and other ancillary charges. Annual membership fees, late fees, over limit fees, a fee for payments processed over the phone, statement mailing fees, research fees, mandatory credit insurance fees, etc. On top of this a very high interest rate, often the state maximum.
          Capital One use to do this a lot, they would give small limit accounts to those with risky credit, usually $200 – $300 account limits with very bad terms. Once you hit the maximum on that limit or get close to it after a couple months they would send another offer for another credit card, again with a small account limit, each card/account has a annual membership feel of about $89, so your paying 30% or more “interest” on the “loan” (the card balance) as a membership fee, which they get even if you don’t use the card and you carry a zero balance (and the interest rate is the state maximum on any balance you do carry).
          It’s basically a “payday” loan with an account management card.

          1. That’s why I wrote “use to”. Besides if there is one thing that I know is absolutely true, is that there is an army of bankers and lawyers working on a way to bypass the laws. It is only a matter of time.

          2. I got one of those Capital One cards about 16 years ago after I had a home foreclosure! It wasn’t that bad and in some ways I really liked it since when traveling overseas I didn’t pay any currency exchange fees. But yes, I remember that $89 per year annual fee. They started me out about $300 BUT they did increase the limit pretty quickly since I paid it off (perhaps they hoped I could be trapped) to about $2000.

            Eventually, my credit improved and I got better cards and even though I had the card for 10 years, I let it go.

          3. You are the exception to the rule. You are savvy enough to not get bilked by the predatory practices of these cards. And someone with smarts can benefit by them. When I used to teach personal finance, the majority of people I worked with were not as fortunate.

          4. My wife was interested in those “zero percent no money down” appliance sales they often have during the holidays. I have an HDTV (something good to have if you’re thinking of buying an HDTV through such a promotion) and froze the screen and read the terms. In the 12 point font, it said that the consumer needs to start making payments after a certain period of time and if they miss one, then they’re hit with 20 percent interest compounded starting from the moment of purchase. So miss one and you’re hit big time!

            For me, I always felt that it was better to NOT have something and try to live without than get it on bad credit (what about the house you ask? Bad girlfriend. ’nuff said. Learned a lot of lessons there.)

            Craiglist has great appliances that are gently used. One friend got a stainless steel fridge for $100. If you’re poor, what are you doing buying stuff brand new on bad credit?

            Recovering my bad credit, the other great deal for building credit was department store credit cards. The department stores usually LIKE people using them and give special deals and they have been a pleasure to deal with such as when my wife has a purchase and needs to do an exchange or refund.

          5. I bought our dining room set with one of those no money down and no interest for a full year deals. This was a long time ago. They gave me 12 coupons with payment amounts that they instructed me to pay each month, and they said that the coupon amount is a minimum, and I can always pay more. They also said if I ever miss a payment or pay less than the minimum, they retroactively apply their astronomical finance fees and interest to the full purchase and charge a late fee. I also had to pay “In Store”. When I added up all of the payments, it was $1 short of paying it in full in the 12 months, and it said if it isn’t paid in full in 12 months, that they retroactively apply interest and finance charges. I paid it off early, but I wonder how many people never realize that gotcha and pay all 12 coupons on time and in full and then get stuck with the fees and interest.

          6. Hahaha! That’s pretty funny (in a dark humor sort of way!) That is SO messed up!

            Here’s one of my messed up stories:

            My wife’s first job was working as a furniture saleswoman and they wanted her to sell an extended warranty (which came in a box with a cleaning kit). Her punishment for not selling one? The manager made her carry the thing all day long until she sold it.

            “Albatross! Who wants to buy an albatross? Get one on a stick!”

            The poor girl carried that thing around for 3 days. I think she was considered killing the guy and throwing herself on the mercy of the court.

            For fun, I took the extended warranty terms from my local Radio Shack and am reading it for laughs.

          7. I have used the 90 day, 6 month 12 month same as cash deals many times. If you remember to pay it off you do get a free loan. I also pay just about everything by credit card, including the down payment on my new car. But we always pay the card in full every month. Used wisely credit is wonderful. Used poorly and it will take years to recover(a misspent youth proved that to me)

    2. I remember talking to a guy who worked at some credit card company that the cc companies love the people who delay payments, don’t pay the full bill, etc. – the cc can charge interest and receive more money.

      Customers like me, who pay the full bill at the date, not delaying or carrying debits, we aren’t the desired kind of customer, because we don’t give them the extra earnings.

      1. Back when I was renting out my old house, and my tenant started making late payments, I liked her more because she was paying a late payment fee every month. The joke was on me because she eventuality stopped paying altogether and when I evicted her, she destroyed the house causing thousands of dollars in damage.

  2. This is a credit trap, usually for those with “challenged”credit. You need your car fixed so you apply for the “financing” which turns out to be a store credit card at a very high interest rate, and with very unfriendly terms. In this example they really only want you to set up an automatic draft from your bank account because they know that reoccurring payments (debits) from your bank are much more difficult to stop then a credit card. 1) You don’t have the same fraud protection. 2) You can’t stop the deductions or charges by simply getting a new credit or debit card. 3) Even if you decline overdraft protection, a bank can still accept a “reoccurring” debit even if it would overdraw your account (meaning they get to charge you a nice big fee. The merchant increases their probability of getting paid, and it’s more difficult, more time consuming and more expensive to close and open a new bank account.
    The terms of the finance agreement or credit agreement very likely give the merchant a lien against what ever goods and services are financed, and since this is an automobile, they could repossess the vehicle if you go into default. You spend $350 on brakes, they don’t accept your payments and then they can repossess the whole car and then charge you $900 or more in penalties and fees to redeem the vehicle back.

    1. The last part is not generally true. It might be true in some states.The right to repossess is known as self help and is generally only available to someone is either listed on the pink slip or has possession of the pink slip. That way, law enforcement can readily ascertain that the repossessers rights. Self help must be granted by statute and must fall under the appropriate guidelines.

      Additionally, mechanics liens are generally extinguished when the vehicle is surrendered back to the owner, i.e it is a right to retain the vehicle, not repossess.

      1. So in California it would be impossible for a lender to get a court order from some court to take possession of a vehicle if the borrower used the vehicle as collateral to secure the loan (which I’m sure it would be easy enough to include such language in an account agreement)?

          1. Credit cards are just account access devices. Most store cards credit agreements have language granting the bank a security interest in whatever goods are purchased. Those goods become collateral for the loan (whatever you charge to them). The bank isn’t going to repossess some mass market off the rack clothing, but the tires connected to a valuable asset like a car would certainly be something worth going after.

          2. I don’t think buying the tires would grant them access to the entire car. Would be like buying nice furniture then taking your house. I just don’t see it.

            OH, and if you file for bankruptcy, credit cards are shown as unsecured, from what I have seen.

          3. Despite language to the contrary, credit card liens are very limited if not outright prohibited.

        1. No. That’s not at all what I said.

          There are two fundamental issues with liens. Which lien is superior and whether self help is permitted. A lien purported to exist by contractual obligation of the repair shop would be junior to any preexisting liens and self-help would not be permitted. in fact, it would be junior to most future liens on the car (say a title loan) because it would not be perfected, i.e. notice is not given to potential lenders (e.g. lien on pink slip)

          So yes, they could get a court order and wait in line. But for a car, that’s generally not worth the trouble unless its a high end car. Court costs, attorney fees, Sheriff’s fee, process server’s fees.

          What they want is to have self help, i.e. just grab the car and sell it after 10 or so days.

          Sears tried this in the 70s, claiming a lien on the items purchased on its credit card. There are cases where they would try to repossess a refrigerator out of the customer’s home.

          The court smacked them down.

          1. I worked in consumer bankruptcy for a while. At the time there was still a way for a retailer to get a security interest in an item when it is purchased on credit. However it was only for that item – not for something else put up as security. If the consumer then files bankruptcy the purchase can be treated as secured rather than unsecured and it has a higher priority in the bankruptcy. That doesn’t necessarily mean the retailer will get the money, it just means they have a better chance. Credit card debt is generally unsecured in a Chapter 7 bankruptcy, and in Chapter 13 it still may not get paid because it’s paid after the secured debt is paid, and a lot of people file Chapter 13 to protect a house. Chapter 7s go so fast that sometimes it’s not worth it for a creditor to have staff to file the necessary paperwork on secured debt or fraud. Some Chapter 13 bankruptcy courts will grant a modification after the “big” debt is paid through the trustee (i.e. the house and maybe the car) and let the credit card debt go. I have seen both sides of the debt collection issue – people clearly running up debt they could not afford and then trying to get out of it, and people who had serious tragedies (medical and loss of job) who were trying to pay and just couldn’t. It’s very hard to know which is which when you are talking to a consumer about a debt. Generally I think most people want to pay their debts – they just want to be treated fairly and some creditors try to take advantage. If you need a car to get to work and buying tires on credit like this is the only way to get them, that is certainly a situation ripe for abuse of the consumer.

    2. Well, just like many store cards, tire places in general usually offer a significant rebate or discount for using their card. There’s nothing wrong with opening an account to take advantage of the discount and then paying it off the day the bill arrives.

    3. I am willing to bet the terms also state that the bank can initiate an ACH payment for all fees, penalties, legal fees, etc. And of course the bank will also charge a fee is the ACH is rejected, and continue to try to pull it daily if it doesn’t go through racking up more and more fees. Back when I worked in A/R, I learned that in the event an ACH and a Check are presented simultaneously and there are not enough funds to cover both, the ACH will win.

      1. Yep, banks still do that.

        What is even more frustrating to the customer is when a bank pays the items received not in the order received (by time stamp) but by largest amount to smallest. If you go overdrawn sure your rent check clears but then the 4 Starbucks coffees you had that day on your debit card each get charged a $35 overdraft fee. If the bank would post in time received order, the rent check would be last because it is delivered in a batch at night from the Fed. The debit card purchases would be posted real time. This means the bank only gets one $35 overdraft fee.

        1. or when they don’t post deposits received in the night depository over a weekend before they start clearing checks which aren’t presented until monday during the day.

  3. Time to find a new card although I’m not sure if the LW will be able to. The payment setup reminds me of the payment requirements that one of my neighbors had when he ran a “Buy here Finance Here” Car lot with obscene interest rates.

    He didn’t take personal checks, only bank checks, money orders or ACH withdrawals, simply because they bounced too often. Oh and he was repo’ing the car the second he was legally able. People bought from him who didn’t have another choice which sounds like the LW to me…

  4. Send ’em a check certified mail. Once it’s in the US mail, it’s considered “DELIVERED”, according to what I was taught in business law. Carver?

    PS: Dump them!

    1. If you choose the return receipt option and you receive the receipt back, then it is considered delivered. Just because the Post Office accepts something is no guarantee that it will ever actually be delivered. (Not saying the Post Office doesn’t deliver because they do, but mail does sometimes get lost.)

      Also, since this so called credit card states they may refuse any payment not processed via their web site, good luck if you choose to pay any other way as the LW saw.

    2. Certified or not, the mail would have to beat the payment date. And if they refused to sign for it (or the address had nobody around to sign for it) you’d be totally out of luck.

    3. When I used to work in A/R, we had a lockbox for payments. This was fully automated. A machine would open the letter, scan the check and remittance advice, deposit the check in my cash clearing account, and sent me an electronic file of payments and the data form the scan line on the remittance advice which would automatically be posted to the customers accounts on my end. When people put notes in the envelope or just had a check with no remittance advice, the bank would overnight them to me. It took a while, but I got them to simply scan them and send me images of the notes and checks to save on delivery. Anyway, long story short, if anyone sent certified mail to the lock box, the post office automatically rejected it and returned it to sender. Per our policy, the payment must be received by the due date. This did not count as received. We also had a message on the bill stating that all certified or signature required payments must be sent to our physical address, which was also printed. This was not in fine print. Every once in a while someone sent certified mail to the lock box, it got returned, they got a late fee, and they would fight it. Several of those people refused to believe me when I said that the lock box payments were automated. One person went as far as to say, “You expect me to believe you have robots in there opening your mail, that is the biggest crock of horse manure I have ever heard in my life.” It was hard not to laugh.

      1. Might be what happened to the LW in this case. She stated that her online bill payment resulted in a physical check being mailed to CFNA. It probably went to a lock box and it definitely did not have the payment coupon with it resulting in a delay in posting.

        Not knowing the online banking system used, not sure what the check looked like that was delivered. It could even be a bulk payment for all CFNA customers paying on that day with a list of accounts to be credited attached.

        1. I hated the bulk payments!!! Reconciling those was a nightmare. I didn’t get big ones fortunately, but I would get 1 payment for 3-7 people once or twice a year, and of course they didn’t always all pay in full, and the bank didn’t always break it down by person.

          I bet you are right. When the bank mails a check to the lock box with no remittance advise, it generally gets deposited and and image is sent to the companies A/R as an exception, and they have to find the account and match it up. And the costumer doesn’t always put their account number in the banks bill pay system making it even harder. When I got those, we still always applied them the day the check was deposed, rather then when we matched it up. Only becuase we allready had the money, I saw no reason to stick it to anyone.

  5. This is not really a credit card as most people think of them. It is a limited purpose line of credit to buy car repair services and parts at specific retailers.

    Like many similar credit products offered by many retailers, it has difficult terms and most of those terms are designed at maximizing the interest and fees they collect from the customers. The main draw is that it is offered with no interest for six months or a year. If you are stuck with major unexpected repairs on your vehicle, this is a very attractive offer. The drawback is that if you “miss” any payment during the interest free period, your interest rate shoots sky high and is retroactive to the first day of the charge. Also, if your final payment is not “received” within the interest free period, you are also charged a significant interest fee retroactively. And the card issuer does everything it can to make sure your payments are late, such as refusing to accept a payment not made through the web site (which probably has some sort of fee if you use that option).

    Best advice is to not get caught up with this type of account no matter how attractive the offer sounds.

    1. I have the Firestone card through CFNA. I don’t have to pay any fees whe I pay through their website. I can even schedule payments ahead of time.

      I use it only for tire purchases. I like the fact that I can spread the payments over three months with no interest.

      As far as the earlier comment about offering the card to bad credit customers, it’s not always the case because I have excellent credit.

      1. Thanks for the info. This was not made clear when I visited their site (I don’t have an account with them.)

        Also, it wasn’t me who made the bad credit comment.

  6. Is the card in the article is a “credit card” (i.e. can be used to make purchases at any merchant that accepts Visa or MasterCard) or a “specialty credit card” (i.e. only can make purchases at an specific merchant)?

    I went to their website. It seems like the card is only to be used for the purchases of tires and auto maintenance at FirestoneBridgestone stores or an affiliated Bridgestone auto center.

    1. “I recently got a credit card through Credit First National Association (CFNA).”

      To me, this is somewhat misleading because I think that a credit card is a Visa, MasterCard, AMEX or Discover where you can purchase goods and services from ANY merchant that accepts Visa, MasterCard, AMEX or Discover.

      To me, a better accurate description would have been:

      1. “I needed new tires for my vehicle. I went to a Firestone tire store. I had an option to apply for financing of the tires via a Firestone card and I accepted.”

      2. “I needed new tires for my vehicle. I went to Firestone tire store. My credit card was maxed or I didn’t want to put this purchase on my VisaMCAMEXDiscover credit card(s) or if I used their financing, I could get one free tire10% offec, so I apply for the financing of the tires from Firestone via their “card”.

      1. Does it truly matter? The card is a physical piece of plastic that allows me to charge for goods and/or services based on credit. I signed up for the card due to the 6 month/no interest deal. I have full intentions of paying the entirety before the 6 months elapse.
        I really appreciate Chris’ help with this. I had contacted my bank and the Better Business Bureau about this issue after I got no real answer from CFNA themselves. It is interesting that literally 1 hour after I contacted Chris I had a phone call from an executive apologizing. CFNA also has NOW changed their remittance method approvals and they NOW have an address for customer complaints. I received a mass letter from CFNA explaining all of the changes to all Bridgestone accounts detailing these “easier, more reliable” changes to payments.

        1. It is good that Chris was able to help you in this situation. More importantly, it was good that a company changed a draciaon policy or policies as well as consumers can be aware of this practice. To me and a few of the readers, this should what Chris should be doing helping people like you with a real problem that you didn’t cause and exposing companies instead of him spending his goodwill, ‘political capital’, etc. on helping people who created their own problems and not taking responsibilities for their actions (or lack of actions).

          In regards to why it is important what type of card it was, there are a few reasons:

          1. I think that one of the benefits of this blog is to make aware and educate consumers on questionable or unethical or even illegal practices of businesses. Another long time reader of this blog reported the same thing with his store credit card. By pointing out what type of credit card (i.e. a store credit card), you are informing others to be ‘weary’ of store credit cards. To me, it is draciaon to offer one type of payment option.

          2. I don’t know how long that you have been a reader of this blog but I have been a reader of this blog for over 10 years. For a variety of reasons, we, the readers, don’t always get the whole story. For me, it is important to get the whole story. In your situation, I like to know if the offer came with something like “apply for our store credit card and we give you a 10% discount or one free tire with the purchase of three other tires or etc. Again, it is inoforming consumers to be ‘weary’ when receiving ‘free’ offers because there is no such thing as a ‘free lunch’.

          3. For me, it is important to be accurate in writing articles. If you read the comments that have been written over the years, you will read comments like “the title of the article is misleading.”

          Again, I am glad that Chris could help you.

        2. The only reason it matters is that often other readers of this blog learn from the comments. I see @ArizonaRoadWarrior:disqus has just replied, saying essentially what I was going to say.

          Although your situation just plain sucked, you and the other 118 BBB complaints I saw online helped countless other people. Thank you for helping to effect a positive change!

  7. They got their money. Beggars can’t be choosers. They definitely sound like an unethical company. Hope that they go belly-up and their employees become unemployed and lose their pensions. Karma’s a bitch. The financial “services” industry and financial “planners” are all crooks. Better off putting money in a home safe.

  8. Strange, it wouldn’t let me vote today.

    I had almost the exact same experience with TD Bank that runs a store card that I use. I sent a payment via my bank, and the check was presented to my bank one day prior to the due date, however the TD Bank charged me a late fee. I called and they said the exact same thing CE found, they want payments to be made by money order or by ACH via their website. All other forms may be delayed up to three days. Despite them cashing the check before the due date, they insisted that funds will be held for 3 days after being received before being applied to my account. I called my bank, who got on the phone with TD Bank, and the two of them argued it out. Eventually TD Bank waived the fee. I now schedule all of my payments to arrived 3 days before the due date and haven’t had a problem since. I refuse to sign up for their auto ACH because they charge a fee for it.

    I honestly believe policies like this are designed to rip off customers, especially those who are not as savvy. Airlines don’t look so bad after seeing what banks do.

    1. Dump TD bank. Payments should be applied when received or at least within one business day if received after a certain time. It’s acceptable to not release the credit, but that’s all

  9. Ouch. The terms page Christopher linked to states it is 6 months with no interest but then it kicks in at 22%. This is a horrible option for anybody who isn’t going to pay it off in the first 6 months.

    1. This is common among retailersmerchants. Most of the furniture stores that my wife and I have purchased from offered 6-mo,1-yr, 2-yr no interest financing. We will usually bargain for free delivery or a bigger discount in lieu of this option.

  10. I pay a-l-l my bills( rent,utilities,video,credit cards) online by debit card and fortunately have not had a mishap(late) yet. I haven’t used a stamp for bill paying in years. Cancel or stop using this c/c. Their CS dept. sucks.

    1. The 2nd book looks interesting, and I may end up buying it on Amazon, since it comes with a solid recommendation from you and the price is reasonable.

  11. Another way to handle complaints about credit cards. The Office of the Comptroller of the Currency handles many credit cards problems. They direct you to file with the FTC. The FTC directs you as below:

    The Consumer Financial Protection Bureau handles complaints about financial products or services, and may be able to help you directly. You should file your complaint with the CFPB at or toll free at 855-411-2372

    1. Great info, Jeanne. Thanks. I filed it away in my “Useful sources” folder. You know, we’re all just volunteers here. I hope you’ll give some thought to becoming one of us.

  12. They can accept payments however they want. But when they say they *may* not accept payment by other means, that means they also may accept such payments. If they didn’t accept one of the payments (again, within their right), then I think they had an obligation to notify the customer.

  13. Online bill payment companies guarantee the payments and will pay any penalties. The credit card companies I pay this way don’t have any preference re using online bill pay, in fact American Express seems to encourage it. Most credit card companies allow payment on the due date too, which is much better than relying on a fixed day per month. I guess the answer is either find out better options for payment from CFNA, or find a different credit card company if they don’t offer better options.

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