PC credit card finance charges?

[babywings76]

I've had the credit card since June. Every month I make payments. It's always way more than the minimum, but not exactly paid in full. This month I received a finance charge for the first time. I called them and they said it's because I didn't pay in full. Huh? I hadn't paid in full the other months? Is this a new policy? Anyone know more about this? The girl wasn't too helpful. I just went online again, to double check things, and to see if there was a way to contact customer service online, but I couldn't find a link to that. I'm going to call them again today and hopefully someone will know more than the previous girl, but I thought I'd see if anyone here knew anything.

[pamperedlinda]

Maybe you just been lucky. I've always had a finance charge on the months that I didn't pay in full.

[sklay723]

I don't have that card, but most credit cards give you an introductory "0% interest for the first 6 months" kind of deal...maybe it was something like that? All of my credit cards (unfortunately) tack on a finance charge if I don't pay in full each month.

[DebbieJ]

If you don't pay in full, you will get charged. Maybe you were just lucky. I wouldn't ask again or they will charge you interest for the months you missed.

[babywings76]

Okay, thanks for letting me know. I'll go find my intro statements and see if it was a trial period or something. Great...now I feel guilty!

[pattikake]

Amanda - the same thing happened to me. I had a finance charge last month.. nothing before that, and none this month.

[wadesgirl]

Sometimes if your purchases are within the "grace period" they don't charge you until the next month. Let's say your previous balance was $300 and you have current charges at $250 that are within the grace period (usually 28-30 days after the purchase). If you pay $300 on the card, then you don't owe any finance charges because the only amount left is within the grace period. Hope that makes sense, you may not be paying the FULL balance but the full previous balance before any current charges.

[gailz2]

Most obvious (hopefully not too obnoxious) advice -- pay it off in full or don't make the charges.

[jbdowd0798]

Sometimes if your purchases are within the "grace period" they don't charge you until the next month. Let's say your previous balance was $300 and you have current charges at $250 that are within the grace period (usually 28-30 days after the purchase). If you pay $300 on the card, then you don't owe any finance charges because the only amount left is within the grace period. Hope that makes sense, you may not be paying the FULL balance but the full previous balance before any current charges.

Unfortuately for us- PC VISA does NOT have a grace period of ANY KIND! I complained when I got hit with a $35 late fee because pay day was the 1st and the payment was due the 30th. Okay fine, BUT my other credit cards have a 5 day grace period (USAA & Citicards). I explained this to the woman and she was rude and could careless about me. I asked for her to take it off as a courtesy and she sighed and said fine this one time. I said fine and I wanted my due date changed since the military only gets paid on the 1st & 15th of the month and my date was like the 28-29-30th. I was so angry with the women that I wish we could just close the account. Plus the rates are DOUBLE and almost TRIPLE what my other cards are but of course PC wants us to use it and doesn't allow us to use anything but it or our TPC so that totally locks us into the card!!! ARGH!!!!

Okay enough of a rant!

[babywings76]

See what happened is that I bought a bunch of office supplies and things for my fair booths. I figure it leads to profits in the future, but since nothing came in right away of a high commission, I couldn't pay it off in full. Then I made a large supply order of a ton of holiday minis and catalogs and such for all my upcoming November shows. So hopefully my next commission check will help cover them. I'm really not trying to be extravagant in my spending, just trying to be all prepared and investing in what I'm hoping is sound, now I just hope to have success and pay things off and hope to have a profit.

[wadesgirl]

Unfortuately for us- PC VISA does NOT have a grace period of ANY KIND! I complained when I got hit with a $35 late fee because pay day was the 1st and the payment was due the 30th. Okay fine, BUT my other credit cards have a 5 day grace period (USAA & Citicards). I explained this to the woman and she was rude and could careless about me. I asked for her to take it off as a courtesy and she sighed and said fine this one time. I said fine and I wanted my due date changed since the military only gets paid on the 1st & 15th of the month and my date was like the 28-29-30th. I was so angry with the women that I wish we could just close the account. Plus the rates are DOUBLE and almost TRIPLE what my other cards are but of course PC wants us to use it and doesn't allow us to use anything but it or our TPC so that totally locks us into the card!!! ARGH!!!!

Okay enough of a rant!

Not grace period on payments but there is always a grace period on your charges, they cannot start charging you until so many days after the purchase which is why you can pay it off in full every month if you choose with no finance charges. Let's say you charge something on Oct 20th and your next billing cycle is November 15 and your grace period is 30 days. You won't get charged on the Oct 20th stuff until December because of the grace period.

[BethCooks4U]

Unfortuately for us- PC VISA does NOT have a grace period of ANY KIND! I complained when I got hit with a $35 late fee because pay day was the 1st and the payment was due the 30th. Okay fine, BUT my other credit cards have a 5 day grace period (USAA & Citicards). I explained this to the woman and she was rude and could careless about me. I asked for her to take it off as a courtesy and she sighed and said fine this one time. I said fine and I wanted my due date changed since the military only gets paid on the 1st & 15th of the month and my date was like the 28-29-30th. I was so angry with the women that I wish we could just close the account. Plus the rates are DOUBLE and almost TRIPLE what my other cards are but of course PC wants us to use it and doesn't allow us to use anything but it or our TPC so that totally locks us into the card!!! ARGH!!!!

Okay enough of a rant!
Most credit cards are due on the stated date. I know of none that allow you to pay later than that date without penalty. The interest rate is dependent on your credit score. You do not have to use it. You can use the PC debit card instead. Many consultants don't get the CC and solely use the debit.

[DebbieJ]

Cash is king.

[DebbieJ]

Many consultants don't get the CC and solely use the debit.

That would be me!

[jwpamp]

I ssem to recall that there was a 3 or 6 month "0%" finance charge incentive with it when I signed.

I pay it off every month, so there is no finance charge for me....and the credit is a nice bonus (I got $40 last month).

[BethCooks4U]

I ssem to recall that there was a 3 or 6 month "0%" finance charge incentive with it when I signed.

I pay it off every month, so there is no finance charge for me....and the credit is a nice bonus (I got $40 last month).

I do the same thing but in a recent month I wasn't able to pay it all. As it happened, the bonus was more than the interest!

[janetupnorth]

Cash is king.

Debt is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice. :D






I made the MISTAKE of getting the card for conference gas and stuff and now I'm working to get rid of it. I put shows on there and then the money went to vehicle repairs...dumb, dumb... It will be gone SOON though! Already not in use along with every other CC I have active! :D

[crystalscookingnow]

PC does NOT require consultants to use a credit card. If that was the case, I would not be a consultant any longer. You most certainly can use the DEBIT card for your shows & supply orders. Granted, that means you have to have the money first... but...

I had to sit down with my 7 yo dd last week & explain to her what debt was & why we didn't have credit cards. She sees me use a debit card & gets confused. I explained the difference between the two so now she knows.