evan9381 Posted September 18, 2009 Report Share Posted September 18, 2009 i think theres a few of you here, but i dont know what dept youre in...i dont know if i just got someone today that was dumb, or what. new credit card law went into effect 8/20, right? the one they made a big deal of.. basically now states that any extra payment, goes towards the balance with the higher rate FIRST. so if i have a card with 0% on a purchase i made for 36 or 48 months, and then i just used it for a $150 purchase last week, if i make a payment for $150, that should go to the purchase i just made, right? then i go back to my old balance on my 0% purchase and continue as i was? i called today to see if i needed to do anything different about making the payment to pay off the balance that is now carrying an intrest rate, and the girl told me that it goes to the lowest rate first, ie, my 0%...when i mentioned something about the new law that passed, and just got enacted last month, she goes "oh no, that doesnt take effect until febuary or march" now thats the part that got me. i would think if you're in CC CS, you would know about this. sounded like BS to me, and everything im reading confirms what ive said. anyone? Quote Link to comment Share on other sites More sharing options...
SRTurbo04 Posted September 18, 2009 Report Share Posted September 18, 2009 i dont belive any one does the cc directly. i know that justinwebb or what ever does customer service. but most others do collections or therse buck with is a computer dork sorry for the useless post lol goodluck i didnt even know any thing about a new law...? Quote Link to comment Share on other sites More sharing options...
wnaplay1647545503 Posted September 18, 2009 Report Share Posted September 18, 2009 i dont belive any one does the cc directly. i know that justinwebb or what ever does customer service. but most others do collections or therse buck with is a computer dork sorry for the useless post lol goodluck i didnt even know any thing about a new law...? My gawd that place must be all sorts of fucked up. Quote Link to comment Share on other sites More sharing options...
Buck531 Posted September 18, 2009 Report Share Posted September 18, 2009 You're probably fucked. I work there and they don't give me shit. And no, I do computer shit. no where near the credit card department/collections. Quote Link to comment Share on other sites More sharing options...
SRTurbo04 Posted September 18, 2009 Report Share Posted September 18, 2009 My gawd that place must be all sorts of fucked up. you have no idea collections alone has me nto brian an luviathon ahahha funny shit then across the hall is jsutin webb guy ha You're probably fucked. I work there and they don't give me shit. And no, I do computer shit. no where near the credit card department/collections. my little teddy bear! lol ok back on topic sorry for um the off topic Quote Link to comment Share on other sites More sharing options...
evan9381 Posted September 18, 2009 Author Report Share Posted September 18, 2009 You're probably fucked. I work there and they don't give me shit. And no, I do computer shit. no where near the credit card department/collections. im not taking it like it should be a perk (ie, "they dont give me shit), im taking it as 'this is the new law', but im being told different by them. oh well...i made a payment for the amount i charged last week...if they keep hitting me with interest, ill go from there. Quote Link to comment Share on other sites More sharing options...
AudiOn19s Posted September 18, 2009 Report Share Posted September 18, 2009 if you read the fine print that's how all the 0% offers work. You always pay off the lowest interest rate first if there are multiple rates in effect on a card. You'll get charged interest on that $150 until every last cent is paid off. Quote Link to comment Share on other sites More sharing options...
wnaplay1647545503 Posted September 18, 2009 Report Share Posted September 18, 2009 http://www.azcentral.com/12news/consumer/articles/NEWcreditcardLAWscript05282009-CR.html This is a big one: Any payments you make over the minimum due would go to your highest interest balances first. The industry practice of applying excess payments to the lowest interest rate balances first is now illegal. Quote Link to comment Share on other sites More sharing options...
dakotart Posted September 18, 2009 Report Share Posted September 18, 2009 only part of the law took effect. the rest takes effect next year. Quote Link to comment Share on other sites More sharing options...
justinwebb Posted September 18, 2009 Report Share Posted September 18, 2009 sounds odd but a lot of the card services reps dont know shit they always transfer a ton of people to me. I work in the online services dept and help dumbasses figure out the interwebs. I would call back and ask for a supervisor and make sure you got the right info. I can ask today for ya. Quote Link to comment Share on other sites More sharing options...
LJ Posted September 18, 2009 Report Share Posted September 18, 2009 If you look at the law, only the ones that specifically say "August 20 2009" went into effect that day. The rest go into effect Feb 10 2010. The Payment portion falls under the latter Quote Link to comment Share on other sites More sharing options...
Smokey Posted September 20, 2009 Report Share Posted September 20, 2009 If you look at the law, only the ones that specifically say "August 20 2009" went into effect that day. The rest go into effect Feb 10 2010. The Payment portion falls under the latter This is correct. Quote Link to comment Share on other sites More sharing options...
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