Save Kroger's from thier 123 Credit Card Partner

[Chuck 22373]

We usually stay current with whatever credit card we are using, and have reached the nice time of life when we are retired and finance nothing. The credit card is used as a convenience, and record keeping device. Occasionally I will forget to send a check on time. Recently I was a couple days late in sending payment to Krogrer's 123 card and was amazed at the penalty charges. Looking into it further, I find that this banking partner of Kroger,s contractually defines the term "average daily balance" to mean something unrelated to this simple english phrase to virtually non-understandable fine print which is used to generates large finance charges. After a little fussing I paid off the billed balance as well as charges on their web sited not yet due. So I owed them zero money, in fact prepaid them some BUT, through the use of their formulas I continued to have a rather large "average daily balance" for the next two months genrating additional penalties

This kind of sneaky business practice (probably legal, but possibly not) is completely out of character to a fine old firm like Kroger's -- a firm we have dealt with for many many years

I wonder if others out there in web world have had poor experiences with "Kroger Personal Finance," who would like to join me in saving Kroger's from their greedy partner. Heavens knows, Kroger,s is having enough trouble with the inroads into their market share by WalMart

[big_rock]

I think you're tilting at windmills here. Like yourself, I'm retired and have no time payments, and I pay my credit cards in full. Recently, by mistake, I scheduled a payment to Citi Card a few days late, and got stuck with a $35.00 late fee plus interest. My bad, but the banks are making too much money on late fees, interest, and whatever else they can tack on to quit now. Kroger is no different than any other credit issuer, if you screw up, you pay, big time. Try being late with a WalMart payment and see how badly you get stuck.
Big_rock