A warning to Bank of America credit card holders.

[Blue_In_AK]

Be careful not to make your payment too SOON.

My husband had about a $1200 balance on his BOA credit card. The minimum payment was around $15. Being a very conscientious Virgo-type person, he always pays his bills when his pension check is direct-deposited into his account on the 1st, and he always pays more than the minimum. Thus, on December 1 he made a $300 payment to BOA. Checking his records a couple days later, he discovered that BOA was saying he had a payment due. He called them on it and was informed that their billing cycle ended on the 1st, and so his $300 had gone towards his November balance. They made it very clear that he shouldn't pay until after the 1st.

Fine. So he sent them another $300 for the December payment around the 7th. Yesterday, the 4th of January (three days after the 1st), he went online to make his $300 payment, assuming it would be for January. Today he checks his account to make sure that everything's okay, they show receipt of the $300 yesterday, and show a minimum payment due of $15. Apparently, this month their billing cycle ended on the 4th, instead of the 1st. Last month a 28-day billing cycle, this month a 34-day billing cycle. Go figure.

Very upset, of course, having now paid $900 on his December balance, he called them again and was told that he just really needs to not pay his bill so promptly, that it's his fault for not paying closer attention to closing dates -- despite the fact that he was told specifically last month that the billing cycle closes on the first. Except when it doesn't, I guess.

Anyway, he's going to pay the thing off and cut it up. He only got the credit card because it offered companion fares on Alaska Airlines anyway, and we can live without it. I just wanted to warn everyone to watch the billing cycles very carefully.