Watch Those Credit Card Billing Envelopes
We often preach the value of close examination of your credit card statements each month. But what if you can’t find your credit card statement?
The New York Times’ Haggler column shares a story about how the credit card envelope change resulted in numerous late fees.
After not seeing a credit card bill for months, the columnist called up his credit card company. They replied that they never stopped sending a bill:
It just was sending the bill in a restyled envelope, with no trace of “Bank of America.” In other words, it looked like junk mail, and the Haggler kept throwing it away.
Now, the Haggler can’t prove it, but this seemed like a brilliant, low-cost way to pocket a fortune in late fees.
Those fees could come from you if you’re not careful. Even if you did not receive a bill, you could still be responsible for any late fees assessed because of a late payment. If you haven’t received a bill at your typical time don’t assume your credit card company is giving you a month off for good behavior.
At the first sign of anything out of the ordinary with your statement, contact your company right away.
If you routinely have struggles with receiving your mail then you may want to consider automatic bill payment services, which may be available through your bank.
And always pay attention to those details. From the outside of the envelope to the last line of the statement.