Excessive VISA fees

I don't understand... $78 for a finance charge PLUS the late fee?
What is the finance charge for? What was your balance? I mean, I
know you pay it off in full every month, but how big does the balance
have to be in order to incur $78 in interest (is "finance charge"
interest?) in just a month? That's nuts!

You are asking for a policy to be broken, and there just isn't a good
reason to demand that it is done. You were late and you admit it.
This is kind of like insisting a police officer let you go without a
ticket you deserve.

I thought you might ask for the late fee to be credited. But, since
you say you were late, I can see why you didn't.

The problem is, since you agree that you were late, the clause in your
contract regarding the assessment of finance charges kicks in. So if
you get one, you get the other.

In the old days, when payments were sent by mail, you could get away
with calling the bank *before* the due date, to let them know you were
going to be late (a day or two) They could put a note on your
account, and you wouldn't be charged. But today, when things can be
done over the phone or internet, the delay of the mail is eliminated
and it is logical they would stop forgiving true lates. Regardless,
you called after the fact.

The thing about finance charges is this - it looks huge, because you
think "I was just a day late". But the way the bank looks at it is
"You had our money ever since the purchase and then for the grace
period, and you paid no interest at all. The benefit of the grace
period is totally withdrawn if you pay your bill late." So you really
had the money for up to 1-1/2 months. If you carry a balance, my
guess is you are actually further penalized, with some interest on the
outstanding balance as well.

The moral is, pay your credit card bill on time, and in full (every
month). From the interest you were charged, unless your monthly
purchases were around $4000-5000, I think you must be carrying a
balance.

First, be advised that RowdyRetailer states his philosophy to every
credit card letter, don't let it throw you off.

Second, you were clearly in the wrong in this situation. Remember that
we as humans always make mistakes, and sometimes there are negative
consequences in the process of doing so.
You admit to being late, it's not their problem, it's yours. Chalk it
up, pay the fee, be more diligent in the future when paying your bill
on time, and move on with life. $120, while inconvenient, is not the
end of the world.

Credit card companies care nothing about people or their situation,
they are a bunch of snakes, and you go bit by them. When you play
their game, they always win. You may be able to go for years playing
their rewards game, but in the end, they win, you lose.

I see that you always paid off the entire balances. Some people that
play with the snakes, do the exact same thing, and sing the praises of
their card. They hoot and holler and say how smart they are and how
they are beating the system, but unfortnately, the snakes won, you
were bit.


Its time to break free of the credit card companies, and do something
radical, pay cash, cut up your cards. You will no longer be slaves to
them. Some disagree with that statement, but it is from the good
book. When you sign the dotted line to them, you are held to the
agreement, in essence, they own you, you are a slave.

Some will say, oh you need to be responsible with your debt, that is
like a responsible drunk, you can sqeek by for a while, but in the
end, you lose.


Cut up your cards, and consider cutting the lifestyle to get rid of
your home equity debt, every debt is a noose around your neck. In
this economy, it is wise to not have any debt.

Good Day