Dave (courier_iii) wrote,
Dave
courier_iii

"Danger Will Robinson, Danger......,"

I have multiple pieces of plastic in my wallet.
I'm careful about them.
It's been more then six years since I've been late even a day on any of them.
It happens that I have an extra ordinary expense coming up in a couple of weeks, so I sat down yesterday and did a projected budget for the next month to be sure there would be enough cash at the right time to cover everything.

At least three of my companies moved the "due date" forward by four to five days this month. One of them put it on a "non-business" Sunday, which means that it really needs to be paid two day before that on the Friday to avoid being late.

The new law means that companies will have to give advance notice on a rate change.
Your billing cycle remains the same as well.
However, they are free to change the due date within that cycle at will, and without advance notice!

It would be very easy to miss this, especially if you've gone "paperless" as they keep encouraging us to do.
The potential penalties on this trap are huge.
The first of course is a late payment fee.
But it would also allow them to do a rate increase to as much as 29%, even for a first occurrence.

It will not happen to me.
But I'm very glad that I looked - carefully.
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