Credit Card Payment

My credit card payment was due October 6; balance was $500. Minimum payment is $15. I use my credit card for EVERYTHING so I can earn points, but I pay off the balance in full each month. I always pay on time or early, but never late.

Until this month. On Sept 20, I sent out my check for $1K (I was planning to pay the balance due plus the amounts of charges not on the statement) using the pre-addressed payment envelope they sent with my statement.

I continued using my credit card, thinking nothing was amiss, but then it would get denied at some stores & restaurants. So I check my credit card account online and discover that my payment was never received! So my payment is late (even tho I sent it on time) and I've got the $39 late fee to prove it. On top of that, because my check was never received, I'm at my credit line limit!

I'm worried what happened to my $1000 check I sent. And of course, worried about my credit score and how to go about fixing this. What to do?
I want to talk to my bank. This is really bothering me! Unfortunately, today is a freakin' Federal Holiday! Guess I'll have to wait til tomorrow. And thanks to all of you for suggesting I pay online. Most of my other bills I pay online; I just never got around to setting this one up.

About your credit, if you've had this card a decent amount of time and have shown the unblemished history you report, you should calll their customer service and throw yourself at the mercy of the person who answers. Tell them honestly what happened, and ask them to look at your payment history and see that it is completely out of character for you. Ask that they accept another payment, and tell them you are cancelling the original check. If you can pay them immediately by debit or other means, do so. They really might take the blot off your credit rating if you do it once and never again. It worked for me. Don't forget to cancel that check at the bank. I feel for you, I have been there, but my credit card company was surprisingly nice about it. Good luck!

2007-10-08 19:35:03 by babybug74

CNN "American Morning" hosted by Miles O'Brien and Soledad O'Brien, interview with Scott Bilker

If I charge $1000 on a business credit card for my LLC, and I make a payment of $200 for a monthly payment and $150 goes toward the balance and $50 goes toward interest, how do I categorize the credit card payment?

Do I claim the $1000 that I spent and also claim each payment I make on the credit card?

When you make the purchase you debit the appropriate expense or asset account for $1,000 and credit current liabilities. As you make payments, you debit current liabilities for the principal portion of the payment, debit interest expense for the interest portion, and credit cash for the amount of the payment.

If this is all Greek to you, consider a consultation with a CPA or EA who specializes in small business accounting and taxation to get set up on a bookkeeping system.

2009-01-25 19:28:49 by Troy L

Price: $1.95

I currently have a website and I would like to sell my services on there. I would like to accept credit cards as payment. How do I incorporate this into my website. Who can I use to process my credit card payments?

There are many things to consider in making that decision.

Do you have a shopping cart?
How fast do you want the funds into your acount?
Would you process the card over the internet or by phone?

You can get a complete package for the shopping cart and credit card processing. However, you need to consider a few things.

First. If you want the credit card sales to be automatically put into your bank account within 48hrs, PayPal is a bad option. It can take a few days for the transaction to hit your account and you must manually transfer the funds. A traditional merchant account will get the funds there quicker.

Second. PRICE. Make sure you are on the right pricing program. Will you be selling to businesses or individuals? You need to make sure and clarify the difference with the processor you choose.

Third. If you are taking your orders via the phone with just a informative website, all you need is a Virtual Terminal. Do not get a machine!

You can get more information here:

http://www.omnitranz.com

Good Luck!

2007-09-06 16:18:05 by pokerstar

Price: $79.95

Credit card data is immediately encrypted once the card is scanned via your iPhone; you'll get authorization in seconds
Low-profile, soft-touch case allows you to process any major credit card by swiping along the bottom of the case
Works with free Intuit GoPayment iPhone app; low monthly service fees

I am behind on my credit card payment by two months this last payment was due the fourth, and I am planning on making a payment when I get paid this week. . . Is there anything else I need to do? I ran into some hard time financially.

Call the credit card company and let them know that you realize you've missed two payments, but you're sending one in now. They'll be happy you called (if not, hang up on her) and even more happy that you now have to pay the added late fees and finance charges.

2008-01-07 18:31:52 by BT_1999

My boyfriend is freaking about because his credit card payment was 3 days late (and the one time it was late before, his credit went down 100 points! We just recently checked his report). Will this late payment effect his score, or does it usually have to be a certain number of days late before they report it to the credit beuraus?

As long as it is not 30-days or more late they will not report it as late.

2007-12-10 13:41:25 by emileegiles