If you have high interest rate cards...

[Valerie in WA]

my heart goes out to you.

I recently made a CC payment one day too early. The system credited it as a 2nd payment in the same billing period and charged me a late fee for the next period when I didn't "make a payment". They also increased my APR from 3.99% to 19.99. Don't worry though, I called them and explained and they are reversing the fee and the interest charge, retroactively.

However, in looking at my statement, I was SHOCKED at the interest charge!! And some of you face these every month. For my balance of $4,100, the interest was $70! Typically (at 3.99%), my interest charge is only $18.

No wonder so many people struggle with CC's and feel so desperate and impotent and frustrated. We've had this good rate for so long, I had forgotten.

I want to encourage those of you who are struggling. Yes, maybe you ran your card up on purchases you now regret, but the rates & fees these guys charge are just ridiculous! Keep plugging away, find little ways to put more money toward your debt, and don't let them win! You can do it! (And after you've made ontime payments for 6 months or so, call them and negotiate a better rate!) Go get 'em!

[SHOPGIRL]

Oh, I totally know what you mean. I have a credit card that I use for my expenses, and I always pay it off entirely each month. I recently noticed that my due date was different. This caused a problem with my online bill pay. So, I was able to make the minimum payment on the due date, but the remainder got credited for the next day. In my next statement, I was charged $38 in interest charges, which totally annoyed me. I called up the credit card company and they did credit the $38 to my account.

The lady said since I usually pay my balance in full, I only have a 20 day billing cycle, but if I didn't pay my balance in full, I would have a 30 day billign cycle.

I did the same thing Valerie did, paying another bill too early. So, I had two payments credited for the same month. Luckily, I noticed it and I was able to make another payment so the current bill would be credited.

You really have to pay close attention to the due dates, etc...