Credit Cards Question

I called MBNA America (my mastercard co.) to see if they could make some kind of adjustment to me if I were a few days late paying the mastercard bill. Usually my payment is due around the 7th of the month and I won't return until the 7th of June (ergo, my payment will be a few days late--I wouldn't like to pay interest even on a small balance). They were pretty cold, even though I've never failed to pay off my balance every month on time. I know they prefer people who are regularly late and who pay the minimum. Maybe that's why.

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JLNobody wrote:

I'm going to be away (Europe) for three weeks. I have a mastercard (credit) that I use instead of cash and checks. I use a visa card (debit to my bank) solely for ATM withdrawals. I'm afraid I will not get back in time to make my mastercard/credit payment on time (I always pay if off every month: no balance). I plan to use the debit card in Europe. Should I just pay off any balance and dump the credit card now before going and then renewing it or getting a new one when I return? What am I overlooking?

Like Walter, I'm not sure what the problem is....

Why would you think about dumping that credit card and then renewing it when you come back after 3 weeks?????

Anyway, I would think you could set up an automatic payment to your credit card through your banks website.

Just guesstimate what you credit card bill will be that month, add a little padding. Go to the banks website and set up e-pay. It takes about 2 minutes.

Then, just choose the day, amount you want your payment to arrive.

I don't know about the debit card part...I don't use one.

__________________

anyway, about the credit card part, credit cards can be a curse when someone doesn't know how to handle it correctly.

But, it can be a blessing too.

We did a huge remodel on the house, and could have taken out a home equity loan....instead, I looked at those credit card offers that always come in the mail.

One of my cards, the first one I ever got out of college, actually offered 0% for however long it takes to pay it off! Really! I guess they figure you'll forget and charge something on it Rolling Eyes

I also got an offer where it would be 0% for as long as it took, providing I make 2 transactions a month....so I use that card to buy $5.00 worth of gas twice a month.

Then we used cards offering one year free, etc. All of these had no balance transfer fees attached to it. I'll pay off everything on my timetable, with no interest.

I have done that for large ticket items my whole life. Last time I bought a car, I paid off the auto loan with a credit card transfer a month after buying the car, and paid it off with no interest.

I cancel cards all the time when the free offer period is over....sure, they want to make you sit on the phone forever, and try to talk you out of doing that, but if as soon as they start that, I just ask for the supervisor, and when I get him/her, I just let them know I'm cancelling a card, give them my email address to send me written confirmation, get their name and employee # to follow up if this doesn't happen, and that's the conversation.

Cancelling cards has never caused me to be rejected for another.

I agree with ebrown totally, they need you, you don't need them, there's plenty of other card companies that would be glad to do business with me.

The important thing is to establish early on good credit, and don't let anything mess it up.

Debt is not necessarily evil, if you handle it well.

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MBNA either has bad management or bad clerks working their phones. I've had American Express and DISCOVER credit cards for many years, and they have always let me off the hook for late fees when I called. They make money on each transaction from the retail or restaurant that accepts the credit card. Thet's almost like "free"money for them to be the intermediary.

I would consider opening another credit card account with another bank, and start make more charges on the new one - and slowly let the other credit card die and disappear. I bet the new credit card company treats you better.

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JLNobody wrote:

I called MBNA America (my mastercard co.) to see if they could make some kind of adjustment to me if I were a few days late paying the mastercard bill. Usually my payment is due around the 7th of the month and I won't return until the 7th of June (ergo, my payment will be a few days late--I wouldn't like to pay interest even on a small balance). They were pretty cold, even though I've never failed to pay off my balance every month on time. I know they prefer people who are regularly late and who pay the minimum. Maybe that's why.

Paying off your credit card bill in full every month does not make you a good customer.

You all are back to talking about credit card companies as if they are good people. They are not good and it is doubtful if they can be considered human if they have no soul.

What I said before is true-- the industry term for someone who pays their bills in full every month is "deadbeat".

They want to bleed you of your money and you aren't obliging them. Don't expect to treat you politely. If you make yourself obnoxious enough so that it costs them money, they will be more helpful.

Please don't pay the bastards them a single cent. Not in late fees or anything else.

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AAAAAAAAA....THE SOPRANOS IS COMING ON!!!!

zzzzzip....

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MBNA has unbelievably bad people working their customer service lines, which probably reflects a management problem. They seem to survive by cutting deals with various merchants and organizations involving the so called vanity cards. Really. LL Bean, Amazon, NRA, and so forth don't really issue credit cards. MBNA does.

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Can you request a change in your monthly service date? I used to have payments due around the 10th of the month but because Mr B is paid bi-weekly I asked that the payment date be moved beyond the 15th. My payment is now due around the 17th. I was told they can only make a change of service date once and that it would be permanent, but it might work out for you.

If they won't do a one time, permanent change of your service cycle then I'd consider getting a new credit card company. It can be a pain if you have a lot of automatic charges but it doesn't sound like they are doing you any favors. Does your bank offer a regular Visa or Mastercard in addition to your debit card? If they have a no annual fee card and will give you a credit line that is high enough to cover the needs of your trip, then I would get a new card. You can decide whether to keep the MBNA card or not when you get back.

Unless there is a real deal that comes along with this card, it doesn't sound like you're getting much from it.

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It might be that it's really totally different: I pay all my bills either online or using debit entries.

Cheques aren't used here since decades.

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Me too, Walter, and I don't feel unsafe in doing so.

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Just to be clear paying bills online is completely safe-- on a computer you can trust (meaning you know who has used it and pretty much what has happened to it).

The issue I am raising is that on a public computer in a cafe, you don't know who has used it, or what spyware they have inadvertantly or intentionally put on it.

There is a big difference.

I am a software geek and am completely comfortable banking, paying bills and a bunch of other stuff online. I don't do these things on public computers, and I especially wouldn't recommend it for someone who doesn't have a firm technical grasp of how computer security works.

And think of it this way. Providing someone with your account number and you password, all the information you need to transfer money from you account to parts unknow... is much more of a problem than someone getting a credit card number.

Be careful.

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ebrown_p wrote:

And think of it this way. Providing someone with your account number and you password, all the information you need to transfer money from you account to parts unknow... is much more of a problem than someone getting a credit card number.

Be careful.

You have to log in with your passwort and account number here.
Than, to verify the action, you are asked for a TAN - randomly chosen (by the software) out of a list of one hundred (or more), which you usually keep at home or at least at a safe place.

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Right.

I pay most of my bills online.

electric
gas
credit card

anything really.

I don't use the automatic withdrawl option because I like the control of keeping track and choosing the date of arrival of the payment.

It's just so much faster than writing checks.

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(I don't think, I ever wrote a cheques besides signing a traveller ages back Embarrassed

)

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Walter Hinteler wrote:

ebrown_p wrote:

And think of it this way. Providing someone with your account number and you password, all the information you need to transfer money from you account to parts unknow... is much more of a problem than someone getting a credit card number.

Be careful.

You have to log in with your passwort and account number here.
Than, to verify the action, you are asked for a TAN - randomly chosen (by the software) out of a list of one hundred (or more), which you usually keep at home or at least at a safe place.

Right Walter,

That would make me feel safer. These measures can provide security, so I wouldn't be as worried.

Just be aware that if there are minimal security measures (as is the case in the public computers near me) sensitive information (like passwords) are extremely easy to steal. There are plenty of cases of this happening.

I am just saying that there are risks involved with public computers. You should be very aware, especially with information that would interest thieves.

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Quote:

Paying off your credit card bill in full every month does not make you a good customer.

It doesn't improve your credit rating either.

Cool

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Wow!

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ebrown_p wrote:

Credit card debt almost always means you are making unplanned purchases that you can't afford.

Nonsense! When I use my credit card to buy LLBean jeans online, I'm buying the jeans because I know I need them and I also know that with my LLBean credit card I'll get free UPS/FedX delivery to my home. I'm making a planned purchase, that I can afford.

By the way, you can't pay off "college loans" or buy a house with a credit card.

Confused

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JLNobody wrote:

Wow!

Ditto!

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Roxxxanne wrote:

roger wrote:
Dump. Too many can hurt the score, but canceling them yourself does not.

Wrong! I am a Licensed Mortgage Broker. Closing the accounts can only hurt your credit, the lower your debt to available credit ratio is the better. My FICO is 825, I have 12 cards with over 100k in available credit and 3k in debt. I just opened three new accounts in the last 2 months, all offering 0% for 12 months. I am using those to finance my upcoing cosmetic surgery.

Smart move! I used mine, in part, to pay for law school ( books etc ).
Surprised

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Quote:

Ifyou are worried about buying a house or getting a school loan (or some other of the few good uses to get credit)
.

I used a loan from Sallie Mae to finance law school and they don't perform a credit check!

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