Fingerhut / WebBank Late Payment when Prepaid More than enough to cover 2 months! Salt Lake City Utah
I am curious as to why my 5/13/17 statement shows a 'Late Fee' of $20.99 when by this date I have paid more than enough to cover 4 months of payments. I called and emailed Fingerhut and received only rude people, no direct answer to my question, and am always referred to the website, which does nothing but back up MY claim ! I'm sorry, this is so confusing to me too, but in an effort to let people know their unfair practices? Here goes:
FIRST Purchase: 2/21/17 amount $656.55 received items, chair was broken in the box, so I returned it.
Statement Date 3/13/17: payment $46.99 due 4/9/17. By this date, I had paid 100.00 and they had received my returned chair, credit $269.99 - both shown received by them on 3/15/17. Return credit + payments received equals $369.99. Fine. The $100 payment received on 3/15/17 should have covered payments due April 9 AND May 9 total of $67.98. NOT COUNTING the return credit of $269.99 !!
I sent $40 more to try and pre-pay my payment due 5/9/17, which they received on 4/12/17. Fine. I'm caught up. I think. As OTHER FAIR creditors practice, this payment plus this return should make my May 9, 2017, payment = $0.00
Statement Date: 4/13/17 payment $20.99 due 5/9/17. Balance $251.77.
Payments I have made+credits acknowledged BY FINGERHUT/WebBank ALL by 4/12/17= $409.99
Statement Date: 5/13/17 payment $67.98 due 6/9/17. Balance $667.00 as I had ordered another chair.
5/15/17 they received payment from me of $30.00. I sent $70 which they received 5/30/17.
ALSO THE 5/13/17 STATEMENT SHOWS $20.99 LATE FEE which was the amount due for 4/9/17 ! Why?
Payments expected by 4/9/17 = $67.98. Payments I made - credited by THEM by 4/9/17 = $100.00.
The $40 they received on 4/12/17 - after the 4/9/17 due date - but before the 5/9/17 due date? DID NOT COUNT towards my payment due for 5/9/17 !! WHY NOT? I called them and asked, "Can we not pay our payments early?" The answer? "No, you can pay your account down, but these early payments will not apply towards your monthly payments."
WHAT?
| $70.00 | 5/30/2017 | Paid | |
| $67.98 | 5/20/2017 | Paid | |
| $30.00 | 5/15/2017 | Paid | |
| $40.00 | 4/12/2017 | Paid | 17041252374552 |
| $100.00 | 3/15/2017 | Paid |
THIS is an incredibly unjustifiable and unfair creditor practice to KID us and RUIN our credit, because payments that we make early do not count towards our payments due, nor do credits from returned merchandise? NAW! HOW IN THE WORLD are we supposed to know if the payments we make early - because we get paid once a month - are going towards our payment due or NOT?
2 Updates & Rebuttals
Fingerhut/WebBank
#3Author of original report
Mon, June 19, 2017
I have had about 30 credit cards in my lifetime and yes, I have always been able to pay my 'monthly payment due' at ANY time I chose. I get paid once a month. I pay ALL my bills on that date. Every other one of my credit cards accepted this as my monthly payment, and posted it as so WITHOUT charging me a 'late fee'.. So, I'm not sure what world you are from, but in my world? Yes, I can pre-pay my credit cards.
FloridaNative
Palm Beach Gardens,Florida,
USA
You can't pre-pay months ahead on a credit card
#3Consumer Comment
Sun, June 18, 2017
Credit cards are different than installment loans. Credit cards have a payment due each month by the due date. You can't pre-pay in advance on a credit card.
When you make your payment, it applies to the outstanding balance. You have a minimum amount due but can pay more than the minimum up to the total balance shown. Your payment will not apply to future months like an installment loan. it applies to the current outstanding balance. Then the minimum payment is due next month by the due date if you have a remaining balance. That is how credit cards work.
Learn all about credit card payments on a legitimate website so you don't continue to have late payments. Payments have to be made each and every month until the balance is paid off to zero. Otherwise you are late.