If I make a credit card payment today and is due today at bank of america, will it be charged as late fee?
Sep 30, 2009
in
Mobile Credit Card Processing
My credit card payment is due today. If I make a payment today on the phone and it will be process tomorrow will I be charged late fee? How much will I be charged for late fee? How much interest will Bank of America charge me in the future? p.s Bank of America haven’t been charging me interest.
I already made the payment and it say it will be posted tomorrow. HOW MUCH FEE WILL I BE CHARGED AND HOW MUCH INTEREST WILL I BE CHARGED IN THE FUTURE?
Don’t say ask them by phone when you make payment because it is automated.
Like this post? Subscribe to my RSS feed and get loads more!
8 comments
Educated woman on September 30, 2009 at 4:14 am
Yes if you pay it on the phone and it says it wont go through until tomorrow then they will add a late fee and interest to your bill, most likely. You should pay online. It should be free. Go sign up at their website and give them your checking account bank number and pay online and that might avoid the late fee.
If you get assessed a late fee call and complain because the due date fell on a sunday.
bdancer222 on September 30, 2009 at 4:14 am
Yes, you will charged a late fee — probably $39. And you will be charged interest — your monthly rate times the average daily balance.
Now if this was a 0% interest special, you will still get hit with the late fee and the 0% interest deal is gone. You will be billed whatever the default interest rate listed in the terms of your contract.
txteacher on September 30, 2009 at 4:14 am
so… What happened? I am going through the same thing right now. I can’t speak to a human and my payment goes through tomorrow but the due date is today!
______________________________________
I called the number on the back of the card and spoke to a human. The rep said to go to https://www.myeasypayment.com/ and I could pay by check and it would go in the same day as long as it was paid by midnight. (Not sure what time zone he was talking about). But it saved a late fee and a hike in APR.
rebeli812 on September 30, 2009 at 4:14 am
i dont know about boa. in my experience with other banksits usually a late fee of 35 plus the phone transaction fee. both will be on your next bill added to the minimum payment due. they may raise interest to the highest percent allowed by law. also universal default goes into effect so any other cards you have will all raise interest rates. gotta love that ay.these are all things that obama wants to fix. welcome to the club. if you can find your original card agreement and any change notices they have sent since you got the cardfind a magnifing glass and a dictionaryand read it over. you should be aware that harvard law school students could not understand most of the agreements. but it should show fees and rate increases.
Outlaw Woman on September 30, 2009 at 4:14 am
Ask these question when you call in your payment by phone. It is their job to know.
vanguardfan on September 30, 2009 at 4:14 am
Depend on what time you paid.
If you pay your personal Bank of America credit card account from a Bank of America checking or savings account any funds transferred as a payment to the credit card account before 11:59 p.m. Eastern Time, including weekends and holidays, will be credited with the date the payment is made. However, updates to account balances and funds availability may take up to 2 bank business days
There is no fee to make a payment by phone using a Bank of America account. However, there is a $15.00 fee if you use an account from another financial institution to make a payment by phone.
CatDad on September 30, 2009 at 4:14 am
Probably…..credit card companies have many, many tricks up their sleeves to get late fees from you…One of them is to tweak the due dates every month so that the due date falls on a Saturday or Sunday….Online payments made on Sunday are not processed on Sundays (for almost all banks)…but rather on the next business day (Monday). This would cause you to be one day late so that they’ll get their late fee of around $35-39…..
Even worse, they’ll use this as an excuse to raise your interest rates.
MSAD on September 30, 2009 at 4:14 am
BOA will let you make the payment on line.
The only thing I can tell you to do is log in to the account on line in the next few days - the late fee will show up.Usually a credit card late fee is about 35.00.
You will have to watch your interest rate. 1 late payment will give them an excuse to jack the rate up really high. If that happens- call them. If you have been a good customer - had the card a long time and this is the first time you’ve made a late payment - usually if you call them and threaten to transfer the balance to a lower rate card, they will put the interest rate back down.
You really have to watch BOA - they are jacking interest rates up on every one - even their good customers.