Last summer, I wrote a blog about TD sending me a monthly statement for the balance of 24 cents. Yesterday, I received a monthly statement that was showing a balance of… drum rolls please…. 21 cents!!! Hot diggety damn, I’m in debt! How on earth am I going to pay this off? Anyone got any change they can spare me?
Sometimes I wonder if it is even worth their while to send me a monthly statement for a balance that low. I’m sure the cost of buying a stamp for that mail is about 52 cents or so. It’s costing them more money to send me the statement than it would to just hold on to it. So I don’t know why they even bother. I just hope they don’t get the collection agency after me for that amount of money.
I did some research and I found that they’re not even supposed to send me a statement for this amount.
“We will provide you with a monthly statement (i) if there have been transactions during the last month, or (ii) if you owe us $20 or more on the Account. If you owe us less than $20 on the Account and there have been no transactions for over one month, we will not send you statements and we will not charge you interest.“
They sent me a blank invoice showing the 21 cents interest with no transactions made. I was trying to pay off that credit card so I didn’t use it to buy anything. I made all the transaction on my RBC Visa.
Since they took the time to send me a statement for a whole 21 cents, I feel obligated to make payment on this current balance. I’m willing to spend 52 cents on a stamp to send them a payment… in pennies. I may have to tape each penny to the envelope so the mailman won’t know that I’m sending money. If they find out, I think they might steal my money. I can’t afford to have them steal my 21 cents. And while I’m at it, I might as well send along some coupons I got from McDonald’s.