I carry a U.S. Bank credit card because I like the rewards it offers. As with any credit card I use, I am careful to pay the balance in full every month and avoid finance charges. That’s why I was surprised when I discovered an interest charge on my current statement.
I called U.S. Bank’s customer service line for cardholders and pointed out that I’d paid my bill in full well before the due date. After reviewing my account, the customer service representative discovered what had triggered the interest charge on my account. Although I’d entered the dollar amount of my payment correctly, I made an error in the cents column: instead of paying the dollar amount plus 98 cents, I’d entered 68 cents when sending my payment electronically. So, I’d underpaid my bill by 30 cents.
Even though I missed the mark by a tiny amount, U.S. Bank was allowed to charge me interest on my average daily balance for the entire statement period. The total interest charge was more than a few dollars and a painful penalty for such a small mistake. Thankfully, U.S. Bank was gracious about my error. The representative could see that I always pay my bill in full each month, so it was clear to her the 30-cent shortage was the result of a typing error. She credited back the interest that had been charged to my account.
U.S. Bank’s decision to refund the interest charge is a mark of a company that cares about its customers. Instead of taking a hard line on its policies, the company gave its customer service representative the flexibility to erase my mistake. In doing so, it increased the likelihood it will keep me as a customer.
Please learn from my experience and triple-check your entries when paying bills online. While U.S. Bank was gracious to me this time, I don’t expect it to erase similar mistakes I might make in the future. In fact, I may just start rounding up my bill payment to the next dollar to minimize errors.
Have you experienced a gracious response from a creditor or other business who overlooked an honest mistake you made? Please leave a comment to share your experience.