The truth is most people don’t pay attention to the finance charges that have been added to their credit card bill. They don’t pay attention to them because they don’t think about them. If you think about it, you can probably guess how they work. You add the finance charge when you make a payment, and the finance charge is deducted from the next bill when you pay the last credit card bill. This is how it works.
The idea behind finance charges is to encourage you to pay more than you need to. However, if you pay your credit card bill on time, you dont really have to worry about the finance charges. That was the case for many people when they first started using credit cards. It was very easy to go shopping and pay for things like gas, so the finance charges were not a big deal.
A little over a year ago we started a discussion about this issue of finance charges. We wanted to make it so that a creditor can add finance charges to a bill if the amount is lower than the finance charge, even if your payment was late. We were so excited to start the discussion that we wanted to make sure that our research was legit.
The research led us to several articles on the web, but we did find that there were a few cases where creditors were actually allowed to add finance charges in this situation. In these situations, the creditor would simply add a finance charge to the bill. Our case is the first time we have heard that a creditor could actually remove your payment from a bill if it was late.
We have no idea how this is legal but we do know that our credit card company may have changed their definition of late, so we can’t make a firm determination. However, we can say that this is a very rare example of the creditor removing your payment and adding a charge on top. This is in fact one of the few exceptions we’ve seen where the creditor is allowed to do this.
This is one of our least favorite cases of this type of charge. It is so rare that we dont see it with other companies, even if it is a common occurrence. A creditor trying to get you to cough up a payment on a bill is usually a red flag for us. The only time we have seen it is when a creditor is trying to collect a disputed check.
The way it works is that you make a payment and then the creditor removes the last payment. Of course, you then have to make the second payment to make up the difference. But if you have a large balance for some reason, the second payment can be a big deal, like $800 or more.
If you had a large amount owing, and you were forced to pay in installments or at gunpoint, you may find yourself in that situation where you feel like the bank is trying to rob you. Or, you may have just realized that you simply lost money on a deal you should have gotten, and that’s the reason you’re in the situation you are.
When you owe someone money, you have to pay and pay and pay, sometimes with all your money in at once, sometimes with just a little bit. It might not be much, but if it’s a big enough amount that you feel like the bank is trying to rob you, then you might need to be in a hurry. Especially if you owe more than you can afford or need to pay, you may just want to take the money and run.
One way to get a lender to reduce your debt is to add finance charges and tell him to add them to the back of the check. That way, the lender is allowed to reduce your debt, but at the same time, you reduce your payments to the bank. It’s like a good debt collection agency, but without the guilt. Also, it’s an easy way to make sure you’re not overpaying.