What’s in my wallet? FRUSTRATION.
With merging of lives comes the merging (or not) of finances. Lately I’ve been on a ‘PAY EVERYTHING OFF’ binge and have been teetering on neurotic keeping everything perfect, on time, filed, etc. So imagine my surprise when I checked an account and saw that I was 60 days delinquent on a charge of…wait for it….$9.31.
Here’s the backstory:
Back in August, I had a credit card that I rarely used but was carrying a modest balance on. I was just on the starting edge of PAY EVERYTHING OFF bliss and decided to…pay the whole balance off in one click. So I did. Paid off the entire thing. The exact amount that the website showed I owed. Go me! I paid it and then didn’t check it again until last night. So last night, on a whim, I decided to check out my account balance so I could feel good when I saw ‘Balance: $0.00’ But it showed that I owed $9.31 and not only that, I was 60 days late! In a panic, I paid it off and then kept panicking with dreams of bad credit for all of eternity dancing through my head.
When The Fiance came home, I told him what had happened and he said that it had once happened to him. He called the company and they were able to get it taken off his credit report. He recommended I do the same.
Which led to another level of agony: talking with the credit card company. The photo below explains succinctly how I felt during my entire lunch break today:
After being transferred to 6 people and explaining my situation to all 6 of them, I FINALLY got ahold of someone who could help. She was able to waive the late fees and remove the blemish from my credit report since I’d never had a late payment and clearly didn’t know I owed them money. Phew.
Here’s what happened and thus begins my PSA to all of you:
Yes, I paid off the entire balance but I didn’t pay it off close enough to the start of the billing cycle which meant that interest on that balance was being charged to me but hadn’t been applied to my account yet. So, I paid off the balance but I owed them a whole $2.00 in interest after the fact. I didn’t know this so I began to rack up late fees (which only ever amounted to $7.31, but still) and was 60 days over due.
Moral of the story: If you are paying off entire balances on credit cards (yay for you!) CALL YOUR CREDIT CARD COMPANY. They will be able to tell you the exact amount that you owe, including interest, and can make sure that your account closes out at $0.00.
Who knew giving the credit card companies money would be so hard?!