by a.b.

So my husband has a great new BofA credit card with 0% interest for the next seven months, hopefully. Since it was a new card, I hadn’t put it in automated bill pay yet. Unfortunately, this particular bill is due on the Columbus Day holiday. I set it up so that it would pay by today, but at last check it’s been pulled from my checking account, and not applied to the credit card.

After having a minor panic attack, I tried to cover my bases by setting up a transfer to the credit card as well. According to the bank, no matter how long it takes for the transfer to occur, it will post effective today.

I know that I’m panicking, but I don’t want to pay the ridiculous interest rate because of this mistake, that isn’t even a mistake. When I enter a request into BofA BillPay and it says it will deliver by today, I expect that to happen. I really only expect it to happen because it’s a BofA credit card. I know it’s not as simple as someone walking down the hall and saying, “Hi George, here’s a payment from Mrs. B,” but since the money is never leaving the BofA system, it darn well better be handled or I’m going to be severely peeved.

Even though they declare the Deliver By date an “estimate,” I did feel better when I read this:

If we fail to process a payment in accordance with your properly completed instructions, we will reimburse you any late-payment-related fees. Please contact Online Banking Customer Service to request that the fees be reversed.

So there is something that can be done in house to make it all come together. I will continue to panic until I see the payment post on the credit card bill. Something similar happened once before, and when the payment posted it did have the correct effective date, but a balance transfer wasn’t on the line. I just can’t see BofA wasting an opportunity to jack our interest rates up to 20%.

So I have learned my lesson, I’m just praying it doesn’t turn out to be an expensive one.

Update: It appears my payments posted as advertised, and two days before my due date. I’m grateful my mistake did not become bigger.