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Is this the new norm for credit cards?

D

DeadByDawn

Platinum Member
Admittedly, I haven't paid much attention to changes in policy or finance charges on my credit cards. I just paid them both off recently. But I just noticed that they now charge a % for purchases made during the month, instead of having a grace period. Is this the norm for CC's now? I thought I remembered that most have a 30 day grace period for you to pay before any interest or fees. If you pay before that then it is really not costing you anything to use the CC as long as you have a zero balance.
 
Wouldn't surprise me.

Keep in mind that if you are carrying a balance from the previous month the grace period goes out the window.
 
Originally posted by: acemcmac
not for any of mine. If that ever happened to me, the card would go right in the shredder.
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Guess I need to lay the smack down on them then. I have superb credit, if they won't treat me right somebody else will.
 
if you got a citi card, did they convince you to sign up for "credit protector" bs? cuz that's what it does. it charges you % of balance throughout the month.
 
Originally posted by: akubi
if you got a citi card, did they convince you to sign up for "credit protector" bs? cuz that's what it does. it charges you % of balance throughout the month.
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No, I've always junked that stuff.
 
Most cc's still have a grace period.

Make sure that you didn't carry over a balance from the previous statement and definitely paid your COMPLETE balance.

Something just isn't adding up. Call CitiBank customer service and ask them why were you charged interest?

Did you do any cash advances, wire transfers or balance transfers?
 
Originally posted by: RossMAN
Most cc's still have a grace period.

Make sure that you didn't carry over a balance from the previous statement and definitely paid your COMPLETE balance.

Something just isn't adding up. Call CitiBank customer service and ask them why were you charged interest?

Did you do any cash advances, wire transfers or balance transfers?
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Nope, never done any of those. I'll call them at lunch and have them explain.
 
Originally posted by: DeadByDawn
Originally posted by: jpeyton
DeadByDawn, what card and what company?
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AT&T Universal Card, it's a Citibank card. I've been with them for about 12 years.
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I had that card a while back and hey didn't charge me anything when i have a zero balance.
 
Maybe your card uses the two-cycle daily balance method of computing finance charges. In short, it means that if you sometimes carry a balance and sometimes don't, they can charge you interest in the previous month's balance.
 
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