Thursday, February 12, 2009

Payment Due Dates

Now, the Deacon does not work in the financial industry, but cannot imagine that there is not a software program out there that determines credit card payment due dates. The Deacon also thinks it is plausible to believe that this software knows to bypass Saturdays, Sundays, and bank holidays. It is surprising that Bank of America doesn't seem to possess this software, maybe, in these harsh banking times, they can't afford it. Bank of America not only will set a due date on a weekend or holiday, but will not allow you to make a payment online on those days - you must make the payment on the business day that precedes your due date. BOA, why the punishment of your valued cardholders, why can't/won't you use the proper software?

The Deacon wonders what happens in those 3 days - if your payment is due on a Monday that is a holiday, you have to make it on the Friday before. The Deacon would not be surprised if interest accumulated twice on that account - the first payment period that occurs until that Monday, and then Saturday, Sunday, and Monday on the 2nd period that begins on Tuesday. Or, maybe, BOA gives you those days interest free? Yeah, right.

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