It was one of the tools that allowed me to maintain healthy credit card usage habits. In my idle time when messing around on my phone I’d gotten into the habit of just transferring money from my checking account to my credit card, often in excess of my actual balance.
Not only will my bank no longer let me do that, just to twist the knife a bit, they will let me make multiple payments totaling the pending total due so long as no individual payment exceeds my actual balance.
So it’s not that they can no longer handle negative balances on the card, it’s just that they’ve half-ass made the interface disallow it.
SpaceNoodle@lemmy.world 21 hours ago
What’s the issue with paying the balance when it’s due? Interest will not accrue.
mushroommunk@lemmy.today 21 hours ago
A lot of people either forget or don’t carefully track the money as spent when it’s still in their back account so they spend it again. It’s just generally a hassle and more work vs just having a habit of paying off as you go and being able to see exactly what’s still in your bank account.
starlinguk@lemmy.world 16 hours ago
Pay it automatically with a direct debit. I can’t remember the last time I paid a bill manually.
SpaceNoodle@lemmy.world 21 hours ago
Sounds like these people want to use debit cards then.
paraphrand@lemmy.world 19 hours ago
Some people get really judgemental about credit cards. Either about not using them, or about using them wrong.
This poster clearly explained how they were maintaining a healthy relationship with one, and you came in to argue with people about how they are “doing it wrong” and shouldn’t be part of the people using credit cards.
Did you know that credit card rewards disproportionately punish the poor? The rewards come out of the credit card terminal fees. And stores increase their prices appropriately to cover credit card fees. If you insist on someone not using credit cards when they are managing it fine, you may be suggesting that they be forced to pay more for their purchases.
ChimpChamp22@reddthat.com 19 hours ago
Nobody said anything about OP doing it wrong, cool your jets. The bank changed their policy. At that point your options are either take the advice of the parent comment, complain to the bank (which will likely get you nowhere), or find a new bank. Don’t get bitchy at people offering advice.
MangoPenguin@lemmy.blahaj.zone 18 hours ago
Am I missing something? There’s no mention of doing it wrong or insisting they not use credit cards. Just a suggestion that would solve the issue from the bank changes…
SpaceNoodle@lemmy.world 19 hours ago
What I’m seeing in the comments of this post is that people expect a good credit score, which is supposed to track how reliable you are at paying bills, without simply paying bills on time.
dohpaz42@lemmy.world 21 hours ago
It really depends on your bank or credit card issuer. Some places will accrue interest from the day of purchase until the day of repayment. It might be pennies for me and you, but I’m sure they make bank on their collective customer base. And deliberately making it difficult to pay off debt that causes additional charges should be illegal.
SpaceNoodle@lemmy.world 21 hours ago
I’ve never encountered a bank or card issuer like that in the US. Can you provide any examples?
Suck_on_my_Presence@lemmy.world 21 hours ago
The way I use my credit card is that I purchase everything in a month on it and then when all of my bills come in at the end of the month, I pay it off. However, my credit card payment isn’t actually due until the 15th or something.
If I waited, I would 100% end up missing a payment because it’s not part of my routine.
SpaceNoodle@lemmy.world 21 hours ago
I’ve never met a credit card which wouldn’t allow you to move the due date. Even if it can be accomplished online, you should try calling customer support.
Onomatopoeia@lemmy.cafe 21 hours ago
So… Pay it on the 15th?
Or, get a different card that permits this?