Do you think all credit card statement should have to show a "last date to pay at a bank" date on it....

...ie: should it be up to the customer to have to work out..[-what with weekends complicating the maths etc]..the last day on which they can pay the bill, and therefor avoid incurring a late payment charge...


or should the bank statement clearly state what date that day falls on?





do you think that the only reason a credit card company would not include that information on the stements it sends out, would be that the c.c.c would be be expecting to reap a harvest of late payment charges from its customers, and to include the info would be to lose an opportunity to extract more cash from its cardholders?|||Yes credit card companies should be mandated by law to show in clear bold large font:





1) a payment must be received by mm-dd-yy hh:mm:ss date


2) total interest charged (annual rate not a stupid confusing per day rate per $100 balance)


3) how long it will take to reduce the loan balance to zero if only minimal payments are made.


4) total interest paid to date for the year





and also provide an easy way for a consumer to opt out of overdraft protection (and the excessive rates that banks rob the customer for this service). Better yet, the customer should opt-in for this service.





Credit cards are a cancer in our society - hate 'em.





Note: I can't believe there are so many credit card lovers out there. You guys must be up to your neck in debt. And despite the thumbs down I still think credit cards do more harm than good to most people.|||It tells you very clearly on the statement when payment should be received. They cannot tell you when to send it, they have no idea how you propose doing that. It's your responsibility to work that out, it isn't terribly difficult . . .|||I do not believe it is a "big conspiracy" to try to "reap the harvest' of late fees. I think they are saying that they issued you a credit card with the expectations that you are responsible enough to send the payment in a timely matter so they get paid by the date noted on your statement.





The easiest way to avoid paying these late fees is to send off a payment when you receive the statement. It should get there in plenty of time, and there will be late fees added the following billing cycle.|||I understand what you are saying in regard to card issuers having many ways to rip you off. I generally pay of my bills in full for the most part so I did not notice for quite some time that my APR (interest) went from %11 to 23. Apparently it had been so for a year and when I called they said "oh, our mistake". Its a huge issuer so I wonder how much money they made from people who carry a balance and did not notice.





But the payment date thing? The date on there is when they need to recieve it and have the payment cleared. There is no way to factor in bank holidays, how fast checks clear, how fast a paycheck clears, the mail, etc. etc.





I have set up the online account thing with all of my cards. I also have a debit card for my bank account. It could be the last day something is due but I can pay it online using my debit. You can even call on the phone and pay.|||Easy. Send your payment 7 working days before the due date.|||The company doesn't care when you send it. They care when they recieve it. You could send it by carrier pidgeon for all they care. No business entity is going to tell someone when to send the payment because it is meaningless to them. If you find it to difficult to figure out when to send it to avoid the late charges, send the payment as soon as you get the bill and you will be fine.|||No. Not everyone banks that way and most responsible people leave a few days extra anyway.





It's not rocket science or complicated to work out. I would feel insulted if they did put such patronising information.





I believe there should be consequences in being bad at managing your money. Without them there is no reward for being good at it.|||I agree with Colin M and it's simple to work out, it even tells you on the back of the statement approximately how long each payement method takes|||If you can't figure this out on your own you are not smart enough to have a credit card.|||They have the "due by date" if you can't figure out when to send the payment, maybe you shouldn't be using a card. Besides, they can't calculate that because it also depends on the post office, and since they can't control the post office, they can't control when they will receive the payment.|||If you cannot read the agreement you shouldn't have a card.|||You want to send at least 7 business days before the due date. Business days are Monday, Tuesday, Wednesday, Thursday, and Friday. It's really not complicated at all.


When you receive your statement in the mail look at the due date and right then and there figure out the date it needs to be sent by to arrive on time. This way you will have it already figured out what date you need to send it by and you won't send in a late payment and get late fee's.|||You are so right...we once incurred a late payment charge when we sent the cheque off to pay the full amount 8 days before the due date.....it turned out they said we should have sent it at least 10 working days before...which is ridiculous....so I agree they should say that...not everyone realises how long the Banks say it takes for the money to clear....in this day and age it should be almost instantaneous, certainly not ten days...that was with Nat west Access...we tore up the card and changed to another provider.|||yes there should be a pay by date ,we are ripped off enough in this country. its just another way of grabbing our money.