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 Victoria Secret's Insane Fee
Posted Thu May 21, 2009 5:17 pm, by Mia L. written to Victoria's Secret
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I went online to the Vicotria Secret credit card site to make a payment on the date that my bill was due and imagine my "suprise" when I discovered that there is a $10 fee for making a payment "on the due date"! What in world is that about.
I contacted the company to inquire as to why this is and a customer service representative told me, and I quote:
"The fee applies only to payments made "on the due date", if you make your payment prior to the due date or the day after, there is no fee AND if you select the "pay next day" option online you will not be assessed a late penalty because Victoria Secret's offers a one day grace period on their due dates. So consumers actually have until midnight on the day following their due date to make payments at no cost and without a late fee being charged."
My question is,then why charge the fee at all? It makes absolutely no sense! And nor does the explanation that I received.
But,based on this explanation, I obviously selected the "pay next day option" to avoid the fee especially since my balance was under $50 and I just wanted to pay it off.
Whether or not I will be charged a late fee remains to be seen. And that makes me uncomfortable. It's not as though I was trying to avoid payment. I have an excellent credit score and now I'm concerned that this company's ridiculous policy may place a black mark on it.
Stop charging your customers this fee! We're all in a bind these days given the state of the economy but this is just plain WRONG!
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Does seem silly, doesn't it. The fact that you're concerned about a
late fee suggests to me (as I don't have a VS credit card) that the
one day grace period might not be a hard-and-fast rule? Unless the
terms say that you're allowed to pay one day late without penalty, I
can see this being the sort of thing where they do charge, but if you
call and beg, they might let you off the hook once. But, like I said,
I don't have the VS card, so I have no idea what the actual rules
are.
What you found, however, is not uncommon. There are also little
tricks that some people figure out to work around things. In this
case, paying on the due date, but scheduling payment for the next day
might just avoid any sort of fees. Brava to you for figuring this out
and being able to take advantage.
Most likely, your letter will not eliminate the $10 fee. Instead, it
will close this loophole. Which means that smart folks like you, who
figured this out, will lose out on the trick.
"Stop charging your customers this fee! We're all in a bind these days
given the state of the economy but this is just plain WRONG!"
But, if I understand you correctly, this fee is only charged for
payments exactly on the due date. I'm not sure that paying one day
before the due date is going to break that many people. The only ones
that are affected by this are those that get paid on a schedule that
exactly coincides with the due date. How does the state of the
economy prevent most people from paying before the due date?
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by Donno Posted Thu May 21, 2009 @ 7:46 PM
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I believe it is quite common with banks (and utilities), that if a
card holder waits until the due date to initiate a payment, there is a
"same day" payment fee.
With Chase, I schedule the payment ahead of time, and always specify
the due date as the payment date. Even if it is Sunday, it works.
But, if I go in ON the due date to schedule the payment that day, I
think I would get zapped with a fee. This is the bank's "we're the
big guy, and we're shoving you around" fee.
What I don't understand, is that if your payment is made a day late
there is no fee at all. I've never heard of that, and I join you in
wondering what is up there. Good luck. In the future, just schedule
your payments before the due date to avoid this problem.
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Paying Cash would have prevented this, and would be my suggestion for
all purchases.
Credit card companies are out to make money off of you, and if you
play their games, you will eventually get bit.
Good Day
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