Recently I have been reading numerous posts concerning credit card float. By this I am referring to when you purchase a knife, via the internet, or phone, and your card is charged but you don't receive the knife for 2,3,4 months or more.
I am somewhat confused about this. One of the services a credit card company offers is "protection". If a card is stolen, you are not usually charged for any charges after the theft. Likewise if you make a purchase, and you don't receive the product by the time your next credit card statement arrives, simply write a letter to the card company advising them of the situation. Deduct the amount of the charge, from your payment. Make sure to tell them that you are not canceling the order, but you simply have not yet received it yet, and will not pay until you do (otherwise you might be charged interest on the unpaid amount). I have done this and it works fine. Let the credit card company do the work.
On the other hand, many times you have agreed with a seller to pay for the purchase "up front" (partial or full payment). This is a completely different situation.
I am somewhat confused about this. One of the services a credit card company offers is "protection". If a card is stolen, you are not usually charged for any charges after the theft. Likewise if you make a purchase, and you don't receive the product by the time your next credit card statement arrives, simply write a letter to the card company advising them of the situation. Deduct the amount of the charge, from your payment. Make sure to tell them that you are not canceling the order, but you simply have not yet received it yet, and will not pay until you do (otherwise you might be charged interest on the unpaid amount). I have done this and it works fine. Let the credit card company do the work.
On the other hand, many times you have agreed with a seller to pay for the purchase "up front" (partial or full payment). This is a completely different situation.
