Sharing Daily Discoveries About Personal Finance And Business Topics

Headaches of A Credit Card Outside of Your Main Bank

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This was a little silly experience for me. There was one domain registration company that I used where I decided to use my Visa one time which was a very tiny payment. The reason being is because it was told to me before that if I didn’t use the credit card once a year I would be charged a small fee. Since this is simply a backup card I rarely ever use it and this seemed simple enough. Sure enough I did and paid for it.

Now there were domains that were set on automatic renewal and I got the pdf bill where everything seemed right. It doesn’t indicate what form of payment you used though and for the most part I was waiting for the transaction to pop up on my MasterCard bill. As it turned out, it never appeared. The only way I found out eventually was that the Visa got frozen as that same domain company tried to bill it again and so I got a declined message.

Immediately I was stunned as I realized the charges had been continuing to be charged on that Visa. The end was I didn’t end up paying the bill on time where I had to pay like a dollar interest. As well, most likely that will blemished my virtually perfect credit history huh? Even though it is a measly one dollar. Imagine that, a financially savvy person like me failing to pay like a $10 bill and getting dinged with interest.

I was close to not signing up for that card before because of that stipulation interestingly enough. Should have went with my gut instinct. I am probably just going to end up cancelling the card now to prevent that from happening again. Guess it kind of shows why sometimes it’s better to deal with just one bank as that way I can truly just concentrate all my finances in one place. Or another reason why I usually don’t do automatic payments.




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