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Troubleshooters: Store credit card winds up costing more

READ MORE: Troubleshooters: Store credit card winds up costing more
Penni Jordan bought a prom dress for her daughter at Camille La Vie in Independence Mall. She signed up for a store credit card to get a discount on the dress, but she says that credit card ended up costing her much more than she saved. Penni Jordan bought a dress her daughter fell in love with at Camille La Vie. She went to the store in person on the day her store credit card payment was due only to be told they only accepted payment by phone or by mail. "I’ve never been to a store where I could not make a payment on my credit card at the store. I could go to Kohl's tomorrow to make a payment on my card, at Sears, Penny's, any of them,” said Penni Jordan. Frustrated, Penni called TD Bank, the company that processes credit card payments for Camille La Vie. She paid a $10 convenience fee to pay by phone, so the payment would post on time, and thought things were taken care of. But that wasn't the case. “And then since I did it on a Sunday, they didn't credit my account until Monday the 4th, and then I get another bill two weeks later saying I had a $29 late fee.” If you read the fine print, TD Bank has a policy that they only accept payments Monday through Friday. Penni says that seems unreasonable, since her payment was due on a Sunday. She thinks it seems like an underhanded way to ding people for more fees, but local financial experts we spoke to say there probably isn't anything sinister about this policy. "It is not a blatant attempt to take any more money. What they're doing is trying to keep it as simple and straight forward as possible,” said financial planner Ross Marino. Since credit card companies have a standard contract they use with all customers, Ross Marino says they try to keep things simple by making payments due 30, 60 or 90 days from the beginning of each billing cycle. That means your due date could potentially fall on a weekend, or even a holiday. Marino says it's up to the customer to make sure their payments are in early if payment isn't accepted on the due date. "Credit is a risk no matter how you look at it. If you will not have too many cards, and you will make sure you pay it off on time, then maybe you won't get hurt, however, every time you go into one of these deals, and you are one day late on the payment, it may cost you much more in interest than you ever saved on the product.” While TD Bank is separate from Camille La Vie, the dress store managers intervened on Penni's behalf, and convinced the bank to waive her $29 late fee. Even though she appreciates their efforts, Penni said the card wasn't worth the trouble, and she's since cut it up and thrown it away. While current law does not prohibit banks from making payments due on days they don't accept payments, the practice will not be permitted under new federal credit card laws that take effect next year.

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For Petes sake folks

Why don't you all find someone else to blame because you can't make your payment ontime. They are not in the business of handholding. Do you wait till the last minute to go to the bathroom to only to find you went down your leg. Who do you blame for that?

No one is placing blame. It

No one is placing blame. It comes down to a simple fact, if the due date is on a Saturday or Sunday the credit card should accept the payment. I pay all my bills on time, most on the computer. So waiting til the last minute or scheduling it on the due date, what does it matter? It is on time.

Store Credit Card Scam

Cut them all up. Especially the ones issued through HSBC such as at Best Buy. Those cards will cost you a fortune in late fees and penalties. You got to be a genius to understand the rules. Google "HSBC and Best Buy"

No, you just have to be able to read

If you pay late, don't gripe about the late fee. As far as I'm concerned, if you can't abide by the terms YOU AGREED TO WHEN YOU APPLIED FOR THE CARD, the bank should be able to charge you whatever they want to. How about a "Late Fee Dart Board?" $100? $50? "Ooh, this is a bad day for you, Mister Smith - Martin is VERY good at darts, and he just hit a bullseye. Your late fee this month is $500. So sorry!" After one billing cycle you should have a thorough knowledge of how your card works. You should know when the cycle ends, when the statement is cut, and when your payment is due. If you can't manage your finances to make the minimum payment by the due date, do yourself a favor and cut up every credit card you have.

I have a great way to avoid

I have a great way to avoid late fees and penalties. PAY YOUR CARD ON TIME! I have a Best Buy card that we use for large purchases where we can get no payment/no interest for such & such a time. (say 12 months) Then we divide the cost by that 12 months and make equal monthly payments to cover it. Then we don't get a big bill in a year, and we don't have to pay any interest. Works great!

Retail Services is another

Retail Services is another company that does the same thing!!! If the due date falls on a weekend date, they will not accept the payment. If you try to make your payment online, it does not accept it on those days. Come on, if your website can be set not to accept payments on weeekend dates, then obviously my payment sent to me should have those same blocked days!! Seems to me these companies have found a way to get more money out of their customers, so I disagree with Marino.


This is why people are in dept up to their eyeballs. READ the fine print or do not buy it if you do not have the cash !! Its not like prom just pops up like an emergency, you had months to save for it.

will NEVER sign up for one

I am sorry for what this company did to Mrs. Jordan, But I'm glad she made it public. I will never sign up for their card. I will be sending this story to everyone I know that has a Camille's in their area.Even though they stood up for her.. It is dishonest and they should stop using TD Bank. At times like this thank god for the Internet..