Bill D -

As described, "religious devotion to regularity in payments" doesn't help if you don't receive the statement before the "due date."

1. Several years ago, I got a statement, minimum payment due about $60. I mailed a $300 payment within two days of receipt of the statement. Looking back later, I found that the "mailing date" on that statement was 11 days prior to the date on which I received it. Metered mail has no real postmark date. It only shows when they ran it through the meter.

2. Next statement showed no payment, a $35 late fee. Minimum payment due about $62. I mailed another payment of $300 within two days of receipt of the statement. The #2 statement was received approximately 10 days after the "mailing date" shown on the statement.

3. Next statement showed the first $300 payment, but since it wasn't accompanied by the statement "for the current payment period" they again imposed a $35 "late payment penalty. The $300 payment that was posted was not entered until 17 days after I mailed it. The payment I'd mailed with the current statement "hadn't been posted yet."

4. Next statement was taken directly from the hand of the postman who delivered it, and was mailed at the post office window within one hour of receipt with another $300 payment (min due was still about $60.)

Guess what. Still late. Statement #4 was recieved 14 days after the "mailing date" shown on the statement. It ultimately was posted to the account 23 days after I mailed it back.

By that time I'd made arrangements to pay off and cancel the card, and on my threat to take "unspecified legal action" they agreed to cancel all the late payment fees "to keep the account." (They probably weren't impressed by my threats, but may have been impressed by my "assertiveness.") Then I told them the payoff check's in the mail. I had already authorized the balance transfer to a "more efficient" source.

Unfortunately, if the same thing happened now, I would probably not be able to get a new card or other credit to pay off any significant balance, since a complaint from the one you have a dispute with will be used by all the rest of them to charge you the same extortionate rate.

You may not be able to terminate business with the extortionist who's screwing you.

John