OtherGround Forums Advice on Odd Situation

11/13/12 5:53 PM
4/13/03
Posts: 4289
Back in 2003 I consolidated student loans with a kick-ass apr (3.50%). It was put in writing, by Citibank (now SallieMae), that if I made the first 48 payments on time that I would have 0.25% knocked off of my apr as a bonus.

I contacted Citibank after 50 or so payments and asked if the apr would be knocked down. They informed me that 3 of my payments were received late. I asked how late the payments were and they stated that it was not enough to incur a late fee, but that they were received 3 or 4 days late.

I don't remember sending out any payments within less than three days of the due date. I know that with an apr that low, I shouldn't even blink, but it doesn't sit right with me, I really believe that it's a screw job. Any advice?
11/13/12 6:32 PM
3/12/07
Posts: 7736
New2MMA - Back in 2003 I consolidated student loans with a kick-ass apr (3.50%). It was put in writing, by Citibank (now SallieMae), that if I made the first 48 payments on time that I would have 0.25% knocked off of my apr as a bonus.

I contacted Citibank after 50 or so payments and asked if the apr would be knocked down. They informed me that 3 of my payments were received late. I asked how late the payments were and they stated that it was not enough to incur a late fee, but that they were received 3 or 4 days late.

I don't remember sending out any payments within less than three days of the due date. I know that with an apr that low, I shouldn't even blink, but it doesn't sit right with me, I really believe that it's a screw job. Any advice?

Check your bank account statements and look to see when the payments cleared. If they cleared before all of the due dates then go to the next step. If not, then at least you know they aren't lying to you.