Question about "losing" credit card payments en cuotas mensuales

[steveinbsas]

Many years ago there was a comment in the forum by a member who had Argentine friends that, if I remember correctly, were "seriously stressed" if they could not pay the balance due in full on their credit card each month because, if they failed to do so, the total of all future payments due for purchases made in cuotas would be combined and the total added to their next month's bill.

This happened to me in January. I paid more than the minimum due on the fecha de vencimiento, the first of December, but I had to wait until the 3rd to make a WU transfer and pay the balance in full.

I went to the bank after I recieved the January statement showing the addition of all of the future monthly cuotas to the current nd the suddenly much higher balance, unless paid in full by the February due date, would be subject to an annual interest rate of about 80%.

The CSR at the bank told me that he thought it was strange that this happened. Remembering the old post about losing cuotas sin interés if the CC balance wss not paid in full by the due date each month, I asked if that was the reason. He didn't think it was, but he works for Banco Santander, not Visa.

Before I left the bank he sent a message to Visa to ask that the payments in cuotas to be reinstated. He also gave me a phone number in CF to call and make the request myself.

A few days later I a friend in Punta Alta made the call for me. She undestood what had happened and could explain it over the phone much better than I could. She called many times, and always got a recording. She was never able to speak with anyone in person.

Can anyone here shed more light on this subject? I don't want it to happen again, and I will have to resort to some "creative" financing in the next ten days if paying more than the minimum on the first of September, but less than the full balance, before the fecha de vencimiento on the third will result in a repeat of the loss of the monthly cuotas sin interés adicional.

 

[nikad]

Many years ago there was a comment in the forum by a member who had Argentine friends that, if I remember correctly, were "seriously stressed" if they could not pay the balance due in full on their credit card each month because, if they failed to do so, the total of all future payments due for purchases made in cuotas would be combined and the total added to their next month's bill.

This happened to me in January. I paid more than the minimum due on the fecha de vencimiento, the first of December, but I had to wait until the 3rd to make a WU transfer and pay the balance in full.

I went to the bank after I recieved the January statement showing the addition of all of the future monthly cuotas to the current nd the suddenly much higher balance, unless paid in full by the February due date, would be subject to an annual interest rate of about 80%.

The CSR at the bank told me that he thought it was strange that this happened. Remembering the old post about losing cuotas sin interés if the CC balance wss not paid in full by the due date each month, I asked if that was the reason. He didn't think it was, but he works for Banco Santander, not Visa.

Before I left the bank he sent a message to Visa to ask that the payments in cuotas to be reinstated. He also gave me a phone number in CF to call and make the request myself.

A few days later I a friend in Punta Alta made the call for me. She undestood what had happened and could explain it over the phone much better than I could. She called many times, and always got a recording. She was never able to speak with anyone in person.

Can anyone here shed more light on this subject? I don't want it to happen again, and I will have to resort to some "creative" financing in the next ten days if paying more than the minimum on the first of September, but less than the full balance, before the fecha de vencimiento on the third will result in a repeat of the loss of the monthly cuotas sin interés adicional.

You need to speak to your bank and ask then to change your fecha de vencimiento to a different bracket ( for some reason they keep changing this and it has been a headache at some point ,as I was used to xx card due in the beginning of the month, and credit card zz was due in the middle of the month, etc. ). I am not sure how quickly it kicks in once they do it though. Hope this helps. You can also try online:

Centro de ayuda Santander

Centro de ayuda

ayuda.santander.com.ar

Cómo modificar la fecha de vencimiento de la tarjeta de crédito​

Podés modificarlo desde Online Banking y elegir en qué semana pagar tu tarjeta. Esta solicitud solo la puede hacer la persona titular de la tarjetas de crédito, sea Visa, American Express o Mastercard.

El cambio puede tardar en impactar hasta dos cierres de resúmen. No vas a poder realizarla si contas con planes de financiación o si registras demoras de más de 30 días en el pago de tu resumen.

Tené en cuenta que para volver a solicitar la modificación, deberás esperar 3 meses desde la fecha de aprobación de tu último pedido de cambio.

Seguí el paso a paso para hacerlo desde Online Banking

1. Ingresá con tus datos para operar
2. Abrí el Menú principal, ubicado en la esquina superior izquierda
3. Buscá la sección ‘Solicitudes y trámites’.
4. Elegí la opción ‘Tarjetas’ y seleccioná ‘Modificar la fecha de vencimiento’.

Vas a necesitar tener tus datos actualizados para que podamos enviarte por email la información sobre la resolución de esta gestión.

 

[Rich One]

Many years ago there was a comment in the forum by a member who had Argentine friends that, if I remember correctly, were "seriously stressed" if they could not pay the balance due in full on their credit card each month because, if they failed to do so, the total of all future payments due for purchases made in cuotas would be combined and the total added to their next month's bill.

This happened to me in January. I paid more than the minimum due on the fecha de vencimiento, the first of December, but I had to wait until the 3rd to make a WU transfer and pay the balance in full.

I went to the bank after I recieved the January statement showing the addition of all of the future monthly cuotas to the current nd the suddenly much higher balance, unless paid in full by the February due date, would be subject to an annual interest rate of about 80%.

The CSR at the bank told me that he thought it was strange that this happened. Remembering the old post about losing cuotas sin interés if the CC balance wss not paid in full by the due date each month, I asked if that was the reason. He didn't think it was, but he works for Banco Santander, not Visa.

Before I left the bank he sent a message to Visa to ask that the payments in cuotas to be reinstated. He also gave me a phone number in CF to call and make the request myself.

A few days later I a friend in Punta Alta made the call for me. She undestood what had happened and could explain it over the phone much better than I could. She called many times, and always got a recording. She was never able to speak with anyone in person.

Can anyone here shed more light on this subject? I don't want it to happen again, and I will have to resort to some "creative" financing in the next ten days if paying more than the minimum on the first of September, but less than the full balance, before the fecha de vencimiento on the third will result in a repeat of the loss of the monthly cuotas sin interés adicional.

Here's my 2 cent XP (may be pertinent ?). Payments made via Pago Facil or Rapipago or other intermediaries may not be credited, on the same day, of the payment, to the beneficiary namely Movistar or Edesur, etc. Resulting in late fees, desconeccion, or other penalties. Specially if made late during the day. I figure there's a clearing hour..? To be safe pay a few days in advance. if able.

 

[steveinbsas]

Here's my 2 cent XP (may be pertinent ?). Payments made via Pago Facil or Rapipago or other intermediaries may not be credited, on the same day, of the payment, to the beneficiary namely Movistar or Edesur, etc. Resulting in late fees, desconeccion, or other penalties. Specially if made late during the day. I figure there's a clearing hour..? To be safe pay a few days in advance. if able.

Thanks Rich for the suggestions. My Western Union transfers are deposited directly into my Santander Rio account and with only one exception have been credited to the account in the late afternoon of the same day I initiate the transfer.

As soon as I see that the deposit has been credited I can immediatly make a credit card payment and the payment is credited within minutes...as I can log in ten minutes later and see that my "available credit" has been increased by the exact amount of the payment.

My problem is getting the funds into the account before the due date, and extending the due date to the fifth of the month will solve that nicely, thanks to Nikad.

 

[steveinbsas]

I am not sure how quickly it kicks in once they do it though. Hope this helps. You can also try online:

It looks like it takes up to two billing cycles for the change to take effect:

"El cambio puede tardar en impactar hasta dos cierres de resúmen. No vas a poder realizarla si contas con planes de financiación o si registras demoras de más de 30 días en el pago de tu resumen."

 

[nikad]

It looks like it takes up to two billing cycles for the change to take effect:

"El cambio puede tardar en impactar hasta dos cierres de resúmen. No vas a poder realizarla si contas con planes de financiación o si registras demoras de más de 30 días en el pago de tu resumen."

Ugh, maybe in person they can speed it up (?)

 

[steveinbsas]

Ugh, maybe in person they can speed it up (?)

Based on my experience in January, they don't appear to have much influence on Visa...and the CSR at the bank wasn't able to tell me exatly why all of my outstanding installment payments were consolidated and the total was due on the next fecha de vencimiento.

Even if they are able to speed up the process of changing the payment due date, I seriously doubt that it could be accomplished for this cycle, which closees tomorrow at midnight