Posted by Paul
I, like the rest of you, hate credit card companies. I hate the fact that I have a credit card (okay, three) and have to use it. I’d like to say that Citibank is especially nefarious, but I’m not sure there’s a point in playing favorites.
Their latest attempt to bend me over a barrel comes by way of changing due dates. From August 2005 to January 2006, my statement closing date varied no more than two days from month to month. It was 8/26, 9/27, 10/26, 11/28, 12/28, 1/26.
However, my due dates varied as many as 9 days from one month to the next (9/15 to 10/24), and as many 11 days over the course of that time period (9/15, 12/26, 2/15). Here’s how they went, in order: 9/15, 10/24, 11/21, 12/26, 1/17, 2/15.
So I finally called to call them on this. “Yeah, that is a tremendous amount of variation,” Niki in Customer Service exclaimed. “Why does that happen,” I ask coyly. “Oh, well, you know, the computer just automatically chooses a date.” “So why doesn’t my statement closing date vary as wildly?” “Oh, because the computer recognizes when you pay your statement, and if you pay quicker one month, it assumes that you’d prefer to have your due date earlier than it was.”
But this account doesn’t fly. In September, my payment (9/8) posted 7 days before the due date (9/15), but my October due date wasn’t moved closer to the 8th of the month, but to the 24th! In October, my payment (10/11) posted a full 13 days before the due date, but my November due date was moved to only 3 days earlier, 11/21. In November, my payment posted three days before the due date, but my December due date was pushed to the 26th, five days after the November due date. (This is clearly so that I would spend spend spend on Christmas presents and have nothing left to pay
Joe Biden Citibank by the 26th.) And then, between December and February, my due date moves 11 days, from the 26th to the 15th.
Thanks to all you Democrats who voted for the Bankruptcy Bill. You were right after all: there’s just no way that so many bankruptcies aren’t the result of irresponsible debtors. People should know better than to do their bills on the same day each month.
A single voice crying in the wilderness (1)