Online payments
Complaint
Sue Falcone
Country: United States
I paid my credit card payment 2 days early. I paid my payment 5-30-09. It was due 5-31-09. When I hit the pay button it said payment will be received 6-1-09.I thought that was a mistake. I received my next months bill & it said payment was made 6-1-09 & had a late fee of $39.00. I called them. The man said when you clicked the button did you see it would be received 6-1-09? I said yes, I thought it was a mistake. I told him no where on their statement was information about that happening when you paid line payments it says any information about that. When your online. It says nothing until you click your payment button. He offered to give me back half of the late fees, I told him forget it. I told him I worked hard for my credit & I had 4 or 5 credit cards through them & I would get them paid off & cancel everyone of them. I would make sure that everyone I knew would know how bank of America works.
Comments
Mail takes time, but at least when they receive it, they have to count it as credited, even if they process it later. With online payments the terms are whatever they decide to make them.
Although I agree terms should always be disclosed up front if the parties expect to be bound by them, it is not clear if at the time you paid, if you had seen that the payment would be received late, on 6-01-09, you may not have had any real alternative.
In any case, although a "late payment" may trigger a rate hike, a payment late by 1 or 2 days is NOT 30 days late, and should not show up on your credit reports as a late since the credit reporting agency post late information starting at 30 days after the due date. If it does show up, it is erroneous and factually incorrect and you challenge it on that basis.
BofA is known for deciding everything on its rules, which are always in its favor. You would have been wise to take their 1/2 offer, and then look for a more responsive bank. You might look at credit unions, since being owned by their customers they often have better terms and more customer-friendly policies.