How knowing the law meant crandc $25, credit card company $0

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crandc

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A small victory but the last 2 weeks have been so abundantly shitty that I'll take anything.

I get my credit card bill and it has a $25 "late fee". Being a tad OCD, I track when I receive and pay bills. I got this one August 10. I paid it August 17; this is one of the bills I pay by mail. The bill said the payment was processed August 24 and their due date is August 23. Aside from the fact that something mailed Aug. 17 should have arrived 6 days later, I had a better argument.

I called and waited on hold an incredible amount of time while a machine told me my call was of no importance whatsoever. Finally get a human and politely explain there was an error on my statement. She asked what and I said the $25 late fee. She explained my payment arrived Aug. 24 and the due date was Aug. 23. I said politely "yes, ma'am, but under the Federal Credit Card Reform Act of 2009 which went into effect Jan 1 2010, credit card companies are required to give customers 21 days to pay the bill and you only gave me 13." Dead silence for a minute, so I then politely informed her that she can look it up on the appropriate federal government web site, which also contains a link for filing complaints against credit card companies that do not comply.

She told me she was immediately reversing the $25 charge. I thanked her politely and hung up.

Most laws are written by and for the 1%. There are a few that benefit us and, ladies and gentlement, it helps to know them. I wonder how many customers have without questioning paid them $25 they do not owe because they didn't know the law?
 
I would guess that most people just pay them without a second thought.
 
A small victory but the last 2 weeks have been so abundantly shitty that I'll take anything.

I get my credit card bill and it has a $25 "late fee". Being a tad OCD, I track when I receive and pay bills. I got this one August 10. I paid it August 17; this is one of the bills I pay by mail. The bill said the payment was processed August 24 and their due date is August 23. Aside from the fact that something mailed Aug. 17 should have arrived 6 days later, I had a better argument.

I called and waited on hold an incredible amount of time while a machine told me my call was of no importance whatsoever. Finally get a human and politely explain there was an error on my statement. She asked what and I said the $25 late fee. She explained my payment arrived Aug. 24 and the due date was Aug. 23. I said politely "yes, ma'am, but under the Federal Credit Card Reform Act of 2009 which went into effect Jan 1 2010, credit card companies are required to give customers 21 days to pay the bill and you only gave me 13." Dead silence for a minute, so I then politely informed her that she can look it up on the appropriate federal government web site, which also contains a link for filing complaints against credit card companies that do not comply.

She told me she was immediately reversing the $25 charge. I thanked her politely and hung up.

Most laws are written by and for the 1%. There are a few that benefit us and, ladies and gentlement, it helps to know them. I wonder how many customers have without questioning paid them $25 they do not owe because they didn't know the law?

You should report the company, since they are deliberately breaking the law and most people are being illegally coerced to pay that $25 fine. Better yet, write a letter to the editor of the Wall Street Journal naming the company and see if they dare to publish it (betting they won't).
 
Maris's comment is worth pursuing. Thank you.

A class action suit would require I know others in the same "class", that is, customers charged late fees by this company when they should not have been.
 
It really isn't any different than writing a bunch of letters to people saying they need to pay a $25 "air tax" and seeing if anyone will bite.
 
Maris's comment is worth pursuing. Thank you.

A class action suit would require I know others in the same "class", that is, customers charged late fees by this company when they should not have been.

Maris's comments usually are the kind that can and will be used against him in a court of law during his murder trial.

If only they changed the minimum wage to $25, it wouldn't be worth your hour of wasted time to fight the $25 fee.

All tongue in cheek.
 
I said politely "yes, ma'am, but under the Federal Credit Card Reform Act of 2009 which went into effect Jan 1 2010, credit card companies are required to give customers 21 days to pay the bill and you only gave me 13."

This was one of the Obama consumer reforms which riled companies which fund Republicans. This is what Republicans are talking about when they accuse Obama of being anti-business, anti-deregulation, and socialist.

In 2012 when he would mention this on the campaign trail, no one knew what he was talking about because the media hadn't mentioned it since 2009, and then only barely. If the media would similarly detail the cost savings of Obamacare, a lot of myths spread in the funded media by the Koch Bros. et al would be laid to rest.
 

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