Pumps' Perplexities

No, this will not be about the massive credit debt in the
United States today.....No, this will not be about how to
use a Credit Card properly and being frugal......This is
about the billing cycle of the credit card companies.......

When credit cards first became popular......The credit
card company allowed you thirty (30) days to pay the
bill before any late charges occurred.......The same does
not hold true today.........

Today, the credit card company will have a "monthly
closing" date for charges, then proceed to print your bill
and place it into the hands of the United Postal Service
for delivery......Upon the receipt of the bill, you are
required to provide payment prior to their "monthly
closing" date for the next bill.......And that "date" is
usually 7 days prior to the initial "closing date"......

Closing date 20th - bill in the mail......
Receipt of bill 27th
Payment by 8th (of following month)

Now considering 7 days in the mail, for your payment,
you have to pay the bill in three to four days, in order
to have it received on the 8th.........

Do not "sneeze" while trying to pay a credit card bill.....
It will cost you $30-35 in late payment fees......

What happened to the 7 days USPS in and 7 days out?.....
This left you with 15-17 days to get your remittance
"off"....

Oh, when will they teach this in their Money Management
class in school?........Pumps