"Variable Grace Periods Suck"
The REI® Visa Signature® Card Review
Written by: jbb on 2009-04-02
Overall Satisfaction
Customer Service
Rewards
Account Management
Delivery Time
jbb's review: 
US Bank handles this and they change the grace period based on payments
payments in full... The next grace period is 20 days
payments late or partial... Next payment is due in 25 days.
This has burned me 3 times on getting my payments to them, each generating a late fee... I got 2 of them reversed, but can't any more untill 2010.
So they get the late fee plus interest on the balance.
I've stopped trying to epay my bill on a regular reminder, and instead, have to read my bill each month and pay it manually.
I typically charge 10K per month on the card, so I'm a pretty hefty customer.
I love REI, but I hate US Bank's card policies.
US Bank handles this and they change the grace period based on paymentspayments in full... The next grace period is 20 days
payments late or partial... Next payment is due in 25 days.
This has burned me 3 times on getting my payments to them, each generating a late fee... I got 2 of them reversed, but can't any more untill 2010.
So they get the late fee plus interest on the balance.
I've stopped trying to epay my bill on a regular reminder, and instead, have to read my bill each month and pay it manually.
I typically charge 10K per month on the card, so I'm a pretty hefty customer.
I love REI, but I hate US Bank's card policies.
3 Comments
Comment 1 by interjack
Variable Grace Period 
on 2009-04-02
I have not heard of another creditor doing this. I am glad that Discover got rid of Dual Cycle interest computation.
on 2009-04-02 I have not heard of another creditor doing this. I am glad that Discover got rid of Dual Cycle interest computation.
Comment 2 by rockin35
Try AMEX on 2009-04-10
If you are spending 10,000K a month on this card, if I were you, I would try American Express. The benefits would far out way this card.
Just a thought... Rockin35
on 2009-04-10 If you are spending 10,000K a month on this card, if I were you, I would try American Express. The benefits would far out way this card.Just a thought... Rockin35
Please login or register for free to view your stats, add reviews and card application results, or post comments.
Credit card reviews and comments are posted by user submission and do not warrant the opinions of Finance Globe.
Disclaimer: This content is not provided by U.S. Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by U.S. Bank. Review content is powered by Finance Globe.
Disclaimer: This content is not provided by U.S. Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by U.S. Bank. Review content is powered by Finance Globe.
