I got my Aspire card in April of '06. Even though the interest is obnoxious, I have poor credit, so this seemed like a decent way to rebuild credit. I recieved the card, and then a statement the next day.
When I got the card, I made the $20 payment to activate it, via bank transfer. The card was activated, and I made certain to ask about the statement closing date. I was told that my closing date is the 27th of each month.
In May, I made a payment of twice the monthly payment amount, and put the card in a drawer. On the 29th, I realized that I would be short the next month, so I figured that since my closing date is the 27th, I will go ahead and make part of the next months payment.
I made the payment, via bank transfer, and then 2 weeks later, made another payment that should have put me over my monthly payment by half. Again, the card goes back into the drawer.
I recieved my June statement, and in bold letters, it reads "YOUR ACCOUNT IS PAST DUE $10.00. FAILURE TO PAY MAY RESULT IN REVOCATION OF YOUR CHARGING PRIVILEGES."
Being confused, I checked my bank book and statements. It was then that I saw the sly trick they pulled.in April and June, my statement closing date is listed as the 27th, on the May statement, it is listed as the 30th. So, the payment I thought was going towards Junes payment, was applied to a previously satisfied monthly payment. There was, of course, a $35.00 late payment charge on my account.
Is there anyway to put the fear of God into these people? This practice seems predatory to me.
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