About a week ago, I linked my CitiBank Platinum Dividend Rewards credit card to my ING Direct account with the intent of keeping more of my cash in an interest-bearing account. I knew from the last time I made a change to my CitiBank card, I had to wait some time before paying my bill — obviously a “scheme” to try to get people to pay (more) interest charges and perhaps miss their payment deadline.
I planned for this and made the addition of the ING Direct link with enough time to spare. Today is the first day I’d be able to pay my balance of a little under $1,700 (mostly expenses from the vacation), due September 27, using my savings account rather than my checking account.
Alas, there is another limitation. The payment limit for a new linked account is $1,000. Also, after I make that first payment of no more than $1,000, I can’t make another payment for 15 days. Obvisouly, waiting is not an option because my payment is due within a week and I refuse to pay interest charges. These unnecessary restrictions cut into the usability of the online payment systems, at least for an initial period. Next month should be smoother, but it is a pain. Now I will have to transfer more money to my checking account to pay CitiBank via snail-mail.
Updated February 6, 2012 and originally published September 21, 2005. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.