By mistake, I took a cash advance on my MasterCard. I'm not going to go into how that happened because I don't want you all to laugh that hard and have such a fine day at my expense.
I got my credit card bill today, thinking I would be happy as a lark because I had paid off my roof shingles by not driving my Hummer to save gas, eating oatmeal and other interesting sundry dinners and by pure shameless discipline.
I opened my credit card bill to find a $2.16 interest charge on it. I checked to make sure that the credit card company had received their money by the due date... yes they had. Then, I was too mad to look at the rest of the bill and I was on the phone to the Philippines (I didn't really know that I was calling the Philippines but I like to ask when I get these people on the line... the world is really weird and small right now).
So, back to my story... 'Fenced Settlement' was very patient as he explained that... I had taken a $200 cash advance on September 1 by mistake darn it ( I know my own mistake), and my bill, which was due on September 24, and paid on time and in full only had the interest and service charges... and charges for the maintenance fees of the upkeep of the Ferrari tires that the loan sharks of MasterCard probably drive, ( I don't really know, I'm just guessing),... Sorry! Still mad!
... for September 1 to September 24 on it. Until your credit card is paid in full, i.e., you don't make any other purchases for a month at least to clear your account, you will keep paying them interest on that cash advance until you have advanced them all your cash I'm guessing or until their Ferrari (s) are paid off!
So, the interest and or service charges on this $200 cash advance from September 1 to September 24 was a whopping $7.69. Now, that is criminal!
That is close to the amount I paid, in interest, on a $3,000 bank loan last month... and let us not forget that this bank is doing fine, even great I'd say... somehow still making payments on that Aston Martin.
So, if we add the $7.69 to the $2.16 we will find that $9.85 is the total of my own stupid mistake that has created this tirade.
To be fair, 'Fenced Settlement' told me that he would take off the $2.16 charge that came on the bill this month, as a courtesy. He wanted me to be very sure though that I knew that they were within their legal right to charge that fee. Let's all bow our heads in gratitude for the magnanimous gift of this financial institution. As if that hasn't made me mad enough, I am now recalling how the bank I deal with... when I was trying to get set up to take credit card payments from my customers, gave me the well you haven't really proved yourself in the world of business banking so we'll need you to come up with... of your own money...
It is no use talking to the devil... I ended that conversation in a hurry.
So... I asked 'Fenced Settlement' if he had ever taken a cash advance on his credit card. He said yes but only once... after that he borrowed money from his mother when he needed to.
We are all learning!
Teach your children before you have to lend them money all the time!
Oy!
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