Comments on: Sneaky Credit Card Trick http://www.howisavemoney.net/credit-cards/sneaky-credit-card-trick/ Tips and tricks to save money, manage credit and reduce debt Fri, 10 Feb 2012 17:53:29 +0000 hourly 1 http://wordpress.org/?v=3.1.2 By: rama http://www.howisavemoney.net/credit-cards/sneaky-credit-card-trick/#comment-17353 rama Fri, 12 Feb 2010 15:22:38 +0000 http://www.howisavemoney.net/?p=2852#comment-17353 Thank you for a very informative blog. If there was a list for top 10 most irresistible temptation, the credit card should make it there. LoLz Yes, the credit card is such a temptation for both young & old. IMO, it takes a lot of discipline to resist the urge to shop to our hearts delights. And once we get ourselves caught in that sticky web of debt, that's when our nightmares begin. A mountain of financial liabilities can be such a nerve-wracking experience. I know the feeling well having been in that harrowing predicament before. It sure was a difficult climb to get over that mountain. What I did was took extra part time work, scrimped, saved, paid my bills, even consulted a <a href="http://www.debteliminationamerica.com/" rel="nofollow">debt elimination group</a>! But, tell you what, the most important resolution I made was to never ever get myself into a sticky debt situation all over ever again! Being debt free now, I feel lighter and definitely HAPPIER!!!! Thank you for a very informative blog.

If there was a list for top 10 most irresistible temptation, the credit card should make it there. LoLz

Yes, the credit card is such a temptation for both young & old. IMO, it takes a lot of discipline to resist the urge to shop to our hearts delights. And once we get ourselves caught in that sticky web of debt, that’s when our nightmares begin.

A mountain of financial liabilities can be such a nerve-wracking experience. I know the feeling well having been in that harrowing predicament before. It sure was a difficult climb to get over that mountain. What I did was took extra part time work, scrimped, saved, paid my bills, even consulted a debt elimination group! But, tell you what, the most important resolution I made was to never ever get myself into a sticky debt situation all over ever again! Being debt free now, I feel lighter and definitely HAPPIER!!!!

]]> By: Link Round-Up: April 20, 2009 | Debt Reduction | http://www.howisavemoney.net/credit-cards/sneaky-credit-card-trick/#comment-16309 Link Round-Up: April 20, 2009 | Debt Reduction | Thu, 30 Jul 2009 09:14:58 +0000 http://www.howisavemoney.net/?p=2852#comment-16309 [...] A Sneaky Credit Card Trick – LuluGal writes about how a recent change at her credit card company almost caused her some late fees. Worse, the credit card company didn’t bother telling her of the change. (Important to know if you use online bill pay services that mail checks on your behalf.) [...] [...] A Sneaky Credit Card Trick – LuluGal writes about how a recent change at her credit card company almost caused her some late fees. Worse, the credit card company didn’t bother telling her of the change. (Important to know if you use online bill pay services that mail checks on your behalf.) [...]

]]> By: Link Round-Up: April 20, 2009 - Articles, tips and advice on how to become debt free in 2009 (and beyond…) - Debt Free in 2009 http://www.howisavemoney.net/credit-cards/sneaky-credit-card-trick/#comment-16291 Link Round-Up: April 20, 2009 - Articles, tips and advice on how to become debt free in 2009 (and beyond…) - Debt Free in 2009 Sun, 26 Jul 2009 13:07:29 +0000 http://www.howisavemoney.net/?p=2852#comment-16291 [...] A Sneaky Credit Card Trick – LuluGal writes about how a recent change at her credit card company almost caused her some late fees. Worse, the credit card company didn’t bother telling her of the change. (Important to know if you use online bill pay services that mail checks on your behalf.) [...] [...] A Sneaky Credit Card Trick – LuluGal writes about how a recent change at her credit card company almost caused her some late fees. Worse, the credit card company didn’t bother telling her of the change. (Important to know if you use online bill pay services that mail checks on your behalf.) [...]

]]> By: MoneyEnergy http://www.howisavemoney.net/credit-cards/sneaky-credit-card-trick/#comment-15893 MoneyEnergy Tue, 21 Apr 2009 17:19:57 +0000 http://www.howisavemoney.net/?p=2852#comment-15893 From what I've read it makes sense to pay more than once a month because of the way interest is calculated. So as per Staci's comment above, I'd check with your card agreement to see when they calculate interest fees. If it's based on an average daily amount, then it makes more sense to make more frequent payments and keep that average down, something that MoneyNing had an article on not too long ago too. <abbr><em>MoneyEnergy’s last blog post..<a href="http://www.getmoneyenergy.com/2009/04/how-should-you-spend-your-tax-refund/" rel="nofollow">How Should You Spend Your Tax Refund?</a></abbr></em> From what I’ve read it makes sense to pay more than once a month because of the way interest is calculated. So as per Staci’s comment above, I’d check with your card agreement to see when they calculate interest fees. If it’s based on an average daily amount, then it makes more sense to make more frequent payments and keep that average down, something that MoneyNing had an article on not too long ago too.

MoneyEnergy’s last blog post..How Should You Spend Your Tax Refund?

]]> By: LuLuGal http://www.howisavemoney.net/credit-cards/sneaky-credit-card-trick/#comment-15883 LuLuGal Mon, 20 Apr 2009 16:45:00 +0000 http://www.howisavemoney.net/?p=2852#comment-15883 Well DRF, I pay all bills via credit card so I don't even bother to check mailing addresses. I also get my credit card statements BOTH online and in paper...but since I use ING to pay the cards I only use the paper statements to look for charges I did not make since it is easier to read paper than the screen. I never check the mailing address on the CC statement because I pay it online. Now ING sends some cards electronic payments but some places only accept paper checks from ING. I noticed on the statement that it reads 'miscellaneous payment' or 'payment at New York (or other state) branch' on the ones that were changed. I guess they eventually got sent to the right place....but that just makes me happy that I pay multiple times and always more than the minimum so that I do not get late fees for crazy stuff like that. Well DRF, I pay all bills via credit card so I don’t even bother to check mailing addresses. I also get my credit card statements BOTH online and in paper…but since I use ING to pay the cards I only use the paper statements to look for charges I did not make since it is easier to read paper than the screen.

I never check the mailing address on the CC statement because I pay it online. Now ING sends some cards electronic payments but some places only accept paper checks from ING.

I noticed on the statement that it reads ‘miscellaneous payment’ or ‘payment at New York (or other state) branch’ on the ones that were changed. I guess they eventually got sent to the right place….but that just makes me happy that I pay multiple times and always more than the minimum so that I do not get late fees for crazy stuff like that.

]]> By: Link Round-Up: April 20, 2009 | Debt Reduction Formula http://www.howisavemoney.net/credit-cards/sneaky-credit-card-trick/#comment-15882 Link Round-Up: April 20, 2009 | Debt Reduction Formula Mon, 20 Apr 2009 15:44:59 +0000 http://www.howisavemoney.net/?p=2852#comment-15882 [...] A Sneaky Credit Card Trick - LuluGal writes about how a recent change at her credit card company almost caused her some late fees. Worse, the credit card company didn’t bother telling her of the change. (Important to know if you use online bill pay services that mail checks on your behalf.) [...] [...] A Sneaky Credit Card Trick – LuluGal writes about how a recent change at her credit card company almost caused her some late fees. Worse, the credit card company didn’t bother telling her of the change. (Important to know if you use online bill pay services that mail checks on your behalf.) [...]

]]> By: Debt Reduction Formula http://www.howisavemoney.net/credit-cards/sneaky-credit-card-trick/#comment-15881 Debt Reduction Formula Mon, 20 Apr 2009 15:41:26 +0000 http://www.howisavemoney.net/?p=2852#comment-15881 Crazy. I pay some bills online and some by mailing a check. So if an address changes, it would automatically change on the slip of paper I have to mail back with my check. I just sent my first check using Wells Fargo's online bill pay... so I guess I would have to be careful about address changes if I start using this service more. Ryan <abbr><em>Debt Reduction Formula’s last blog post..<a href="http://www.debtreductionformula.com/blog/what-did-they-do-100-years-ago/" rel="nofollow">What Did They Do 100 Years Ago?</a></abbr></em> Crazy. I pay some bills online and some by mailing a check. So if an address changes, it would automatically change on the slip of paper I have to mail back with my check.

I just sent my first check using Wells Fargo’s online bill pay… so I guess I would have to be careful about address changes if I start using this service more.

Ryan

Debt Reduction Formula’s last blog post..What Did They Do 100 Years Ago?

]]> By: Meeting rooms http://www.howisavemoney.net/credit-cards/sneaky-credit-card-trick/#comment-15844 Meeting rooms Tue, 14 Apr 2009 09:44:29 +0000 http://www.howisavemoney.net/?p=2852#comment-15844 @Online TV, it's not always the case, --I guess it depends on what you mean,obviously having/using a debit card should be the first option but having a credit card can be more convenient when you don't have money on your DC. @Online TV, it’s not always the case, –I guess it depends on what you mean,obviously having/using a debit card should be the first option but having a credit card can be more convenient when you don’t have money on your DC.

]]> By: Online Tv http://www.howisavemoney.net/credit-cards/sneaky-credit-card-trick/#comment-15831 Online Tv Fri, 10 Apr 2009 13:15:58 +0000 http://www.howisavemoney.net/?p=2852#comment-15831 I think that using a debit card would be much easier than using a full serviced credit card. I think that using a debit card would be much easier than using a full serviced credit card.

]]> By: Becky http://www.howisavemoney.net/credit-cards/sneaky-credit-card-trick/#comment-15823 Becky Thu, 09 Apr 2009 11:40:51 +0000 http://www.howisavemoney.net/?p=2852#comment-15823 I have paid my bills online for years so it wouldn't even occur to me! How crazy! I too pay my CCs a couple times a month. I'm kind of weird, but yes, I think it's a form of self control. Plus, paying over $1,000 a month most months on my credit card - it makes me feel better to do a couple $300 payments than one big bang! Stupid really, but just something I do. <abbr><em>Becky’s last blog post..<a href="http://bargainbecky.blogspot.com/2009/04/free-sample-of-huggies-pure-and-natural.html" rel="nofollow">Free Sample of Huggies Pure and Natural Diapers!</a></abbr></em> I have paid my bills online for years so it wouldn’t even occur to me! How crazy!

I too pay my CCs a couple times a month. I’m kind of weird, but yes, I think it’s a form of self control. Plus, paying over $1,000 a month most months on my credit card – it makes me feel better to do a couple $300 payments than one big bang! Stupid really, but just something I do.

Becky’s last blog post..Free Sample of Huggies Pure and Natural Diapers!

]]> By: Current accounts http://www.howisavemoney.net/credit-cards/sneaky-credit-card-trick/#comment-15820 Current accounts Thu, 09 Apr 2009 09:05:43 +0000 http://www.howisavemoney.net/?p=2852#comment-15820 I had a similar problem in the past but I suggest people to stop using credit cards. Pay cash for everything, even for big purchases. Sadly that won't work for most of us who shop online for almost everything. Credit cards are an extremely convenient tool for shopping and comes with several protections and rewards. We'd like to avail these benefits won't we? hope you're fine Lulu.. I had a similar problem in the past but I suggest people to stop using credit cards. Pay cash for everything, even for big purchases. Sadly that won’t work for most of us who shop online for almost everything. Credit cards are an extremely convenient tool for shopping and comes with several protections and rewards. We’d like to avail these benefits won’t we? hope you’re fine Lulu..

]]> By: LuLuGal http://www.howisavemoney.net/credit-cards/sneaky-credit-card-trick/#comment-15819 LuLuGal Thu, 09 Apr 2009 01:31:49 +0000 http://www.howisavemoney.net/?p=2852#comment-15819 Ha ha Shawn. Ha ha Shawn.

]]> By: LuLuGal http://www.howisavemoney.net/credit-cards/sneaky-credit-card-trick/#comment-15818 LuLuGal Thu, 09 Apr 2009 01:25:47 +0000 http://www.howisavemoney.net/?p=2852#comment-15818 I don't physically go and pay the bill 4 times. The payment is split into 4 and sent off automatically by ING. I only check on the last payment, which is the one just before the due date to make sure that it is paid in full. I buy groceries for example and while my budget is set at $150 I might not actually spend that amount for the month. So I have 4 payments of $30 (adds up to $120) going out automatically and then if I spent more than $150 I check the difference....I have other things on the card as well so the amounts fluctuate. I have 4 payments going out to cover things like the billing address changing, due dates changing, payment glitches etc. Plus I update my finances in Money, Quicken and Mint weekly so this system works for me. I don’t physically go and pay the bill 4 times. The payment is split into 4 and sent off automatically by ING. I only check on the last payment, which is the one just before the due date to make sure that it is paid in full.

I buy groceries for example and while my budget is set at $150 I might not actually spend that amount for the month. So I have 4 payments of $30 (adds up to $120) going out automatically and then if I spent more than $150 I check the difference….I have other things on the card as well so the amounts fluctuate.

I have 4 payments going out to cover things like the billing address changing, due dates changing, payment glitches etc. Plus I update my finances in Money, Quicken and Mint weekly so this system works for me.

]]> By: staci http://www.howisavemoney.net/credit-cards/sneaky-credit-card-trick/#comment-15816 staci Wed, 08 Apr 2009 18:22:14 +0000 http://www.howisavemoney.net/?p=2852#comment-15816 So why do you pay your bill 4 times? Is it a way of forcing self control or something? Cause for interest earnings sake wouldn't it be better to wait and pay it in one lump sum just before it is due? I know that remembering to pay your bill can be a lot of pressure, but you are going through it 4 times every month. I thought ING also allowed you to schedule payments, so then you don't even need the pressure of remembering. Unless of course you are worried about spending more than what you have... <abbr><em>staci’s last blog post..<a href="http://noiwasntsleeping.blogspot.com/2009/04/ive-got-pair-troopers-no-make-that.html" rel="nofollow">I've got a pair-a-troopers, no, make that three</a></abbr></em> So why do you pay your bill 4 times? Is it a way of forcing self control or something? Cause for interest earnings sake wouldn’t it be better to wait and pay it in one lump sum just before it is due?
I know that remembering to pay your bill can be a lot of pressure, but you are going through it 4 times every month. I thought ING also allowed you to schedule payments, so then you don’t even need the pressure of remembering. Unless of course you are worried about spending more than what you have…

staci’s last blog post..I’ve got a pair-a-troopers, no, make that three

]]> By: Shawn Knight http://www.howisavemoney.net/credit-cards/sneaky-credit-card-trick/#comment-15813 Shawn Knight Wed, 08 Apr 2009 17:18:29 +0000 http://www.howisavemoney.net/?p=2852#comment-15813 What, you mean a credit card company did something that would effect you, without notifying you in advance (or ever)?? SHOCKING!! ;) <abbr><em>Shawn Knight’s last blog post..<a href="http://www.shawn-knight.net/tv-back-from-the-shop/" rel="nofollow">TV Back From The Shop</a></abbr></em> What, you mean a credit card company did something that would effect you, without notifying you in advance (or ever)?? SHOCKING!! ;)

Shawn Knight’s last blog post..TV Back From The Shop

]]> By: Discover http://www.howisavemoney.net/credit-cards/sneaky-credit-card-trick/#comment-15812 Discover Wed, 08 Apr 2009 13:02:07 +0000 http://www.howisavemoney.net/?p=2852#comment-15812 I always pay online so don't have to worry about mailing addresses, but they really should make it more noticeable when changing address because I doubt you are the only one doing it this way. Maybe a way for them to make some profit from late fees. I always pay online so don’t have to worry about mailing addresses, but they really should make it more noticeable when changing address because I doubt you are the only one doing it this way. Maybe a way for them to make some profit from late fees.

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