Leah
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you answered your own question.... you skipped a payment.... did you call them first and work out this arrangement that you decided on, or did you just decide to do it and not tell them? Every delinquent or charged off account starts with ONE missed payment.
Put yourself in the company's shoes.... what would you do if your employer decided to not pay you this payday, but "doubled up" your pay next payday... without telling you??
Hopefully, they won't change your interest rate because you skipped a payment. |
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Boo Too
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It's a big deal because you're supposed to pay every month. Most of these 0% cards will now back charge interest or raise you to a high interest rate from now on because of this missed payment.
Make sure to read the fine print for your account. Not paying for a month may have cost you a lot of money. |
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foobarred
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0% interest means just that. It doesn't mean that you can skip your monthly payment - just that you pay no interest on your debt. Kiss 0% goodbye if you missed a payment |
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rtharp8
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you still have to pay the min. payment every month. Some card issuers will stop the 0 % when you default. |
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familyof404
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you still have to pay your minimum. now you were hit if a late fee. 33% of your credit score is making payments on time. good luck |
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Johanna B
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Just because you have 0% interest doesn't mean that you don't have a minimum payment due each month. If you are late on a payment or "skip" a month they CAN raise your interest up to 35%. I had one company not send me a statement and I didn't make a payment that month. They raised my interest to 33.9%. I had been a customer for 7 years. |
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kassy kemp
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If you are late on a payment or "skip" a month they CAN raise your interest. read more from: http://www.credit-card-gallery.com/0_apr_credit_card.html |
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Ginger
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You had zero interest for 4 years, not no monthly payments for 4 years. Those terms are vastly different. If you miss a payment they believe you may not pay the balance. The computers are set to automatically dial customers that are late.
Since this is the first time (you just got this credit card?), you may consider yourself very lucky that they didn't raise the APR and charge a late fee since you violated the terms of the agreement.
Check your loan documents to read their terms and conditions. If you have already lost them, have them send another copy. |
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bri89
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They just want their money |
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Andie
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You can only keep that 0% if you make payment on time every month. When you late on your payment, you loose that promotional rate and perhaps you're paying the default rate right now which is 32.24% not to mention a late fee. They may not reinstate that promo rate for you since the agreement was 4 years, no interest only if you make at least minimum payment EVERY month.
I'm surprised that some bank would offer 0% for 4 years. How can they stay in business?
Credit card company doesn't take advance payment. If you think you pay 2 payments in one month, actually you only pay one larger payment. Credit card company doesn't have time to sort it out to see if you make double payment. They deal with million customers and process million of dollars each day. As long as you make payment within one billing cycle regardless how many times, all of the payment will apply in that same billing cycle. I make 3 payments in one month because I want to pay down faster. That doesn't mean I can skip next month. If I don't make payment next month, I certainly will get a late fee.
IT'S NOT THE CREDIT CARD COMPANY's MISTAKE. You just didn't read their terms and conditions. |
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Jill S
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They just want to make sure you didn't forget about them. There is no way for them to know you were going to give them double next month. These credit card companies just can't wait to give us extra fees . They can now technically get rid of the 0 interest rate and go up to any amount they want to because you broke your agreement with them, even though you were an excellent customer to them. They just don't care!! |
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Janelle H
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Did you actually answer the phone or just see the number on the caller id? my companies have recorded calls to let me know when my next payment is due..or if a payment is late..even if it doesn't push it over the limit or anything..they still let you know. |
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bubiandme
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Unfortunately it is s credit card & they expect you to make a payment of 3% every month. |
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Brave
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Talk to the card company. They have to update the account and correct their mistakes. |
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CAR0LINE! :]
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Contact the card company and complain! |
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