- Report: #19420
Complaint Review: Fleet Credit Card - Wilmington Delaware
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Fleet Credit Card
www.fleetcards.com Wilmington, 19850 Delaware, U.S.A.
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Fleet Credit Card finance charges after paying statement balance Wilmington Delaware
Fleet sends statements that show your "new balance" and you pay the entire balance off and think, alright that account is paid, not. Fleet adds finance charges until they receive the money.
You get your statement on April 1 and it is due April 15, they receive full payment on April 14. You still own finance charges from April 1 until April 14, so you get another bill.
I have never had Citibank, Chase, Sears, SunTrust, or any of the other credit cards I use send me a bill after I sent the complete balance that was listed on my statement. What a screw job. Glad to cancel that account!
Judi
Lady Lake, Florida
You get your statement on April 1 and it is due April 15, they receive full payment on April 14. You still own finance charges from April 1 until April 14, so you get another bill.
I have never had Citibank, Chase, Sears, SunTrust, or any of the other credit cards I use send me a bill after I sent the complete balance that was listed on my statement. What a screw job. Glad to cancel that account!
Judi
Lady Lake, Florida
1 Updates & Rebuttals
donald
colorado springs,Colorado,
credit 101
#2Consumer Comment
Fri, July 19, 2002
I am a consumer who deals with the credit industry on a daily basis. Fleet is not the only bank that charges residual fin charges. I will now educate you on this policy: Yes, Fleet as well as most unsecured lenders will charge you for each day the balance is on revloving accts. The only way to avoid fin charge is to pay your full statment balance each and every month. Example: one month you decide to pay only the min payment, now your acct becomes "revolving" that means interest will accrue on a daily basis. Next month you decide to pay the balance in full. The very next stmnt will have a residual fin charge due to the acct revolving the previous month. The next stmnt will be free of fin charges because by paying it in full you have stopped the revolving of the acct for future charges. So basicly if you do not pay the balance each month you excceed the grace period to avoid fin charges, which is usualy about 25days.
