Credit Card Payment Question
I'm working to pay off my credit card completely and that should be a reality next month. Here's my question:
Every 3-4 months, if I have extra money, I send in an extra payment. This month I sent in an extra payment two weeks ago, but my extra payment didn't cleared so I called the credit card company and asked if they had received my check but just hadn't processed it. They told me "no."
Now, I've been debating whether or not to put a "stop check" payment on this check. I hate to do that if somehow they do have it or get it in the next few days.
I mentioned this problem to a friend of mine who told me that, in this economy, some credit card companies hold off applying payments to peoples' balances so they can gain as much interest on the money as possible. My friend thinks my credit card company will apply my extra payment when my next payment is due. Have you heard of this?
Mind you, I will still send in my next payment when it's due, BUT then if they cash both of my checks I will overpay them. I'm really not sure what to do.