So given that a missed payment can create havoc with interest rates one may opt to setup autopay offered by several banks. Then you can sit back and relax thinking that as long as you have money in your checking account all is set. WRONG!
Some banks change the due dates and the automatic payment kicks in the same day each month. So if you are off by 2-3 days you can easily be off your payment too thus making a late payment. That is when the party begins.. late fees and of course the dreaded default rate of 29.99%. Now this is not Chase but yours trully Bank of America!
The kicker is when you try to get an explanation and they throw you to some Gold Option sign up for a credit line application who is part of some new intelligent scheme to "save you money" because the goal of the banks is to "save you money" not make money...
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I just made a payment for July on July 4th and Juniper credited it to my June payment even though I had already paid my June payment.
In turn, Juniper charged my account a $39 late fee which put my account over the limit and then charged me another $39 for overlimit fee.
I got $78 in fee's for making an early payment on my account.
Stay away from Juniper who is not mentioned in the other credit cards here.
They are all playing the same game. Play with the timeline of your payment to charge you extra fees. At the end they may also increase your APR due to late payments...
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