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Report: #1113912

Complaint Review: Applied bank - Wilmington Delaware

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  • Reported By: Onelove — Silver spring Maryland
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  • Applied bank Applied Bank, P.O. Box 17120 Wilmington , Delaware USA

Applied bank High fees and scam fees Wilmington Delaware

*Consumer Comment: When did you pay?

*General Comment: Last day is late

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Made an on time payment via a checking account the due date was on the 7th and I paid on the seventh . The next day I log in I see they have charged me a late fee. I call and asked why is it there and they said it will fall off when the check clears. I see this as border line theft . Yea it will fall off but in the mean time they are charging me interest on a late fee that ain't late. I tried to ask them to take it off and they give the lame excuse about the computer can't be overridden . Beware !!! Borderline theives! They charge 10 dollars to pay your bill and the list goes on with there extravagant fees. There are a lot of card companies that will help you build and rebuild your credit but these guys make it very expensive to do so ! You've been warned

This report was posted on Ripoff Report on 01/08/2014 12:51 PM and is a permanent record located here: The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#2 Consumer Comment

When did you pay?

AUTHOR: Robert - ()

POSTED: Wednesday, January 08, 2014

A very important detail you left out is WHEN and HOW did you pay your bill?

Every credit card company has a "cut-off" time for receiving payments.  This cut-off time can vary by payment type.  If your payment is received after the cut-off time it is processed as the next business day and if that is past your due date you are late.  So for example if you paid it on-line and their cut-off time was 5PM EST.  If you paid it at 5:01EST you are late and the late fee is assessed.  This is how EVERY credit card works.

As for the fee again that depends on  how it is paid.  If you mail in a check there is most likely no fee.  Most(but not all) credit card companies will not charge for web payments.  But if you have to do a phone or talk to a customer service person with just about every company you are charged a fee.

There are also cases where if you pay AFTER the cut-off time but still on the same day you are charged a fee, but it is less than a late fee and keeps your payment on-time.

But with all of that if your late fee was legitimate and they are going to refund it when the payment clears, consider yourself lucky and the small amount of interest you are paying on that a tiny lesson.

For the heck of it let's calculate it out though.  You are a Sub-Prime borrower who is considered "high risk" as high risk means higher interest and fees.  Let's figure your late fee was $50 and you are paying an interest rate of 29%.  Let's even give them 10 days to clear the check.   The total Interest you are paying is a grand total of $0.40(actually $0.397).

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#1 General Comment

Last day is late

AUTHOR: Tyg - ()

POSTED: Wednesday, January 08, 2014

 If you waited until the last day then youre already late as MOST companies will accept the payment but it is not processed completly until the NEXT day. SO if you wish to avoid any fees pay it a day early.

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