Credit cards - credit card due date rules - Brief Article - Statistical Data Included

Kiplinger's Personal Finance Magazine, Nov, 2000 by Joan Goldwasser

You still have to pay attention to due dates to avoid a late fee

If the coming holidays will be supercharge season for your credit cards, it's more important than ever to know when payments are due. Card issuers have hair triggers when it comes to assessing late fees, so if your check arrives even one day late, you'll probably be slapped with a $29 penalty.

Not only do you need to know the due date, you also need to be sure the issuer' will post a payment to your account on the day it arrives-and not the next business day. Fortunately, you may now get some breathing room. When Citibank recently acquired 13 million Universal card accounts, it declared that payments would never be due on holidays or weekends. That's the same policy it has for its other cards. If you normally cut things close, check with your card issuers about their policies.

Low-interes premium cards Best if you carry a balance

                               RECENT       CASH-ADVANCE    ANNUAL
ISSUER                         RATE(*)      RATE/FEE(C)     FEE

Pulaski Bank & Trust (G)        8.75%       8.75%/none        $50
Simmons First National (P)      9.95        9.5/none           50
USAA Savings Bank (G, P)       10.50       10.5/none           45

                              LATE/         TELEPHONE
ISSUER                        OVER LIMIT       NUMBER

Pulaski Bank & Trust (G)      $20/$20        800-980-2265
Simmons First National (P)    20/none        800-636-5151
USAA Savings Bank (G, P)      20/none        800-922-9092

No-fee premium cards Best if you usually pay the balance each month

ISSUER                         RECENT       CASH-ADVANCE    GRACE
                               RATE(*)      RATE/FEE(C)    PERIOD

Capital One (G,P)               9.90%       19.8%/2.5%      25 days
Wachovia (G)                   10.90        19.99/4         20 days
AFBA Industrial (P)            12.40        12.4/2          25 days

                              LATE/         TELEPHONE
ISSUER                        OVER LIMIT       NUMBER

Capital One (G,P)             $29/$29         800-822-3397
Wachovia (G)                   29/29          800-842-3262
AFBA Industrial (P)           15/none         800-776-2265

Rebate cards Best of the gasoline cards

                               RECENT       CASH-ADVANCE    ANNUAL
ISSUER                         RATE(*)      RATE/FEE(C)     FEE

Shell MasterCard               15.99%       18.89%/3%       $20
                               ([dagger])                  ([double
                               17.99%                       dagger])
Exxon MasterCard               19.34        19.34/4         none
Amoco Visa                     20.40        20.4/5          none

                               REBATE            TELEPHONE
ISSUER                         GAS/OTHER         NUMBER

Shell MasterCard (P)            5%/1%            800-373-3427
Exxon MasterCard                3/1(#)           800-554-6914
Amoco Visa                      3/2([sections])  800-462-6626
                                                 ([sections])

(*) As of Sept. 8; rates are adjustable, often tied to the prime rate.(C) Cash advances often have no grace period; additional fees may be charged. (G) gold card (P) platinum card ([dagger]) with $2,500 balance ([double dagger]) waived first year (#) expires after six months ([sections]) maximum of $70 a year SOURCE FOR LOAN RATES AND CREDIT CARDS: Bankrate.com. N. Palm Beach, Fla.