Navy Federal Credit Union - NFCU Unfair VISA Credit Card Financial Practices - Unfair Late-payment Penalty-fee Charges Assessed Merrifield Virginia

I have made a late payment once or twice with NFCU and I have been charged a few fees. I have learned that if it is a random occurrence, they are generally willing to credit it back. Sometimes it takes hanging up and calling back to get a nice rep. Alternately, it might be easier to ask them through the online service.

I haven't received a statement or bill in the mail from NFCU in years (I get it all online). I highly recommend setting up an automatic payment for the minimum due each month. If you decide to pay part of it or all of it early, they won't debit it from your account. Just be sure you are setting up a minimum payment and not a fixed payment. I had a fixed payment and they changed the terms. I saw the change but didn't think it would affect me because I had the auto-pay. The change had to do with not being able to carry over a paid balance (like if you pay double one month you dont have to pay the next) anymore. I didn't realize but I was paying enough from time to time that the amount they were auto-paying + what I was manually transferring was adequate. When they made that change, I was about $15 short for a month. They did credit the fee but it took 3 calls and a little sternness.

I agree with the other guy... with their rates and how easy it can be to get a loan... you might as well stay with them. They do recognize loyalty and history.

What you missed is that payments are required by you as a borrower. If you didnt get the bill, that does not relieve you of your obligation.

late charges are never prorated based on how much of a payment was missed. (Real estate loans typically will do this, not consumer loans)

It has been my experience unless you have a history of late or poorly paid accounts, (ie, nsf, overdrafts) almost all lenders allow you the favor of a fee reversal. So I would suppose that you have had several things happen on your account that indicate your missed payment was not a one time event.

With the low loan rates and high deposit rates they have, you probably are better off staying put and putting your bills on auto pay,