My credit card company takes 7-10 business days to post a payment by mail from the time they receive it. This means I have to pay the bill before I receive it. Is this Legal?
How long can a credit card company take to post a payment that is mailed to them?
#1 by Peter on October 16, 2009 - 7:22 am
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Most Credit card Company have a 10 Day Grace Period. You might wanna check on their Policy. If my memory serves me correct they go by the Post Office Date of stamp the moment you mailed it.
So for example your payment is due by the 15th of the month, you mailed your payment also in the 15th. It will have a stamp from the post office in which you mailed your payment on time. But why deal with the post office? Pay your bills on line!
#2 by NEed Help ? Do you ? on October 16, 2009 - 2:13 pm
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No No NO u have a grace period of 14 to 24 days depends u have enough time u pay.
#3 by mang_kiko on October 19, 2009 - 7:59 pm
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In the United States, under Truth and Lending Act, a creditor must post payments on accounts on the date the payment was received. They can only delay posting if the delay does not increase finance charges on your account.
#4 by heybulldog on October 20, 2009 - 2:32 am
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Credit card companies are snakes. if you dont play with snakes. You won’t get bit.
Pay as you go and live on less than you make and you will have money.
Of course the credit card people and their loyal followers are gonna tell you different.
Debt free is the way to be!