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From: Ian Gregory on 31 Jan 2010 08:48
On 2010-01-31, John McWilliams <jpmcw(a)comcast.net> wrote:
> Michael Vilain wrote:
>>
>> Yes, they are charging for people who pay in full. So far, Citibank
>> hasn't pulled that on my card or I'd cut it up and cancel in a
>> picosecond.
>>
>
> Yes, Tim posted a link, so thanks, Tim.
> Yeah, I'd bail in a minute or pay within a dollar to avoid such a fee.

According to the link Tim posted that would not help you avoid a fee.
The article mentions annual fees but doesn't say that they would be
triggered by paying off your balance in full every month - only that
doing do would not necessarily exempt you from such a fee.

Also, paying within a dollar could cost you a lot more in interest
because, as I understand it, your borrowing is only interest free if you
pay in full each month. If you pay off 999 dollars of a 1000 dollar bill
you could still end up being charged interest on 1000 dollars.

Ian

--
Ian Gregory
http://www.zenatode.org.uk/ian/
From: Warren Oates on 31 Jan 2010 09:54
In article <vilain-695C22.22151230012010(a)news.individual.net>,
Michael Vilain <vilain(a)NOspamcop.net> wrote:

> Yes, they are charging for people who pay in full. So far, Citibank
> hasn't pulled that on my card or I'd cut it up and cancel in a
> picosecond.

I don't think they're allowed to that in Canada. We use a President's
Choice mastercard, paid off in full every month, and we get these
"shopper's points" every time we use the thing that we can spend in
their grocery stores. You'd be surprised how much it can add up to. We
use that card for everything we can.
--
Very old woody beets will never cook tender.
-- Fannie Farmer
From: Frank P. Eigler on 31 Jan 2010 12:03
Ian Gregory (foo(a)prdetfanaaeextna.invalid) wrote:
[snip]
: Also, paying within a dollar could cost you a lot more in interest
: because, as I understand it, your borrowing is only interest free if you
: pay in full each month. If you pay off 999 dollars of a 1000 dollar bill
: you could still end up being charged interest on 1000 dollars.


Absolutely right - and then you're charged for the month after that on
the outstanding balance (in this case, the dollar) *and* on the
interst that was owed. Typically, if you're only paying the full balance
afterwards, it takes two more months to pay off the charges. Nice scam,
huh?
--
Non Illegitimi Carborundum
From: George Kerby on 31 Jan 2010 13:43



On 1/31/10 11:03 AM, in article 4b65c5df$1(a)news.victoria.tc.ca, "Frank P.
Eigler" <ws917(a)vtn1.victoria.tc.ca> wrote:

> Ian Gregory (foo(a)prdetfanaaeextna.invalid) wrote:
> [snip]
> : Also, paying within a dollar could cost you a lot more in interest
> : because, as I understand it, your borrowing is only interest free if you
> : pay in full each month. If you pay off 999 dollars of a 1000 dollar bill
> : you could still end up being charged interest on 1000 dollars.
>
>
> Absolutely right - and then you're charged for the month after that on
> the outstanding balance (in this case, the dollar) *and* on the
> interst that was owed. Typically, if you're only paying the full balance
> afterwards, it takes two more months to pay off the charges. Nice scam,
> huh?
> --
> Non Illegitimi Carborundum
THAT was the very reason I told Chase to stick their cards up their
collective asses. Scumbags all!

From: John McWilliams on 1 Feb 2010 01:13
Michael Vilain wrote:
> In article <C78B2B77.3D86C%ghost_topper(a)hotmail.com>,
> George Kerby <ghost_topper(a)hotmail.com> wrote:
>
>> On 1/31/10 11:03 AM, in article 4b65c5df$1(a)news.victoria.tc.ca, "Frank P.
>> Eigler" <ws917(a)vtn1.victoria.tc.ca> wrote:
>>
>>> Ian Gregory (foo(a)prdetfanaaeextna.invalid) wrote:
>>> [snip]
>>> : Also, paying within a dollar could cost you a lot more in interest
>>> : because, as I understand it, your borrowing is only interest free if you
>>> : pay in full each month. If you pay off 999 dollars of a 1000 dollar bill
>>> : you could still end up being charged interest on 1000 dollars.
>>>
>>>
>>> Absolutely right - and then you're charged for the month after that on
>>> the outstanding balance (in this case, the dollar) *and* on the
>>> interst that was owed. Typically, if you're only paying the full balance
>>> afterwards, it takes two more months to pay off the charges. Nice scam,
>>> huh?
>>> --
>>> Non Illegitimi Carborundum
>> THAT was the very reason I told Chase to stick their cards up their
>> collective asses. Scumbags all!
>
> Another solution is to overpay the credit card by a couple bucks. It
> will force them to send you a refund check costing them way more than
> the amount of the check in time and labor.
>

Hmmmm. I usually round up to the nearest dollar or five anyway. But I
am one who pays off monthly in full.

--
john mcwilliams
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