Wednesday, October 8, 2008

Don't Forget to Schedule Your Credit Card Payments Before the Bank Holiday (Columbus Day)


I know some of you guys wait until the last moment to schedule your credit card payments. For those of you who do like to procrastinate, don't forget that we have a holiday coming up this Monday, October 13 (Columbus Day). (Thanks to my girl, Centex, for the reminder.)

You'll want to schedule your payments accordingly. If your payment is due on Monday, be sure that your payment is scheduled (and payable) for no later than this Friday. You don't want to give banks any more of your money than absolutely necessary. Therefore, avoid late payments by scheduling your payment on time.

In the meantime, here is a schedule of every banking holiday for the next four years (I'm using the Atlanta Fed's site because it also includes the day of the week): The Federal Reserve Bank Schedule. Bookmark the site so that you don't forget when banking holidays are approaching.

Meanwhile, I will make it a practice to remind my readers of each upcoming holiday (just in case someone forgets).

If you have Monday off (I don't), enjoy a great three-day weekend (Virgil, take a much-deserved rest, pal). For the rest of you, get back to work!!

6 comments:

Marilie said...

I'm not off on Monday, either. Thanks for the reminder!

GlobCredit.com said...

M, you are welcome for the reminder.

Virgil TheVibeRAIDER said...

Why, thank you, Sir! for the reminder of the banking holiday as well as my much-needed break from work! LOL!

A reminder, if I may, when posting payments, some creditors have a disclaimer, such as this from WAMU:

"We attempt to debit your checking account the day you specify the payment to be made however it usually takes three to five business days to debit your account."

Quote/Unquote.

Keep in mind that not all transactions can be made "on time."

I used to be a bank teller in my previous incarnation, and I believe this has always been the case. (It has been a long time since, after all!) I'm surprised that the advent of the Internet does not necessarily make everything faster, especially when it comes to payments.

Try not to play it safe and give a little more leeway on DUE DATES.

:-)

GlobCredit.com said...

Virgil, I pay my bills the day the statement cuts. In a perfect world, everyone would do that. It gives people a lot of leeway when you pay earlier rather than later. It gives you some flexibility if a payment gets lost or there is a technological problem with a payment.

Some banks, like Wamu, suck when it comes to payments. In fact, of all my relationships, Wamu is the worst.

TheVibeRAIDER said...

I'm not sure when "the statement cuts." I noticed the term, but is that when the statement for that month is shown on the creditors' website? I usually wait for the statement to arrive by mail.

GlobCredit.com said...

Virgil, I am talking about the day your billing cycle closes and the bank sends your bill in the mail.

You can go online and see when your billing statement cuts. I keep a spreadsheet with all of those dates.

For every bank that allows it, I pay online. I don't like take chances with the U.S. mail (Ha!).

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