Credit Card receipt expiry | GTAMotorcycle.com

Credit Card receipt expiry

nobbie48

Well-known member
Site Supporter
OK So you regularly consolidate your credit card statements and a receipt doesn't show. How long before it is no longer valid? Can they come after you after a year or two or forever?

I know cheques are stale dated after 6 months if the person hasn't cashed them. However if the cheque was cashed in the allowed time frame and lost / delayed in the bank system the payer still pays, forever.
 

Lightcycle

Motorcycle Nomad
Site Supporter
I assume this is a card not present transaction.

I've had transactions that did not show up until weeks after I made the order. A motorcycle part that took some time to be fabricated was not charged on my card until long after it was delivered (I think it was close to 6-7 weeks after the order). Seems as if there is no statute of limitations for the charge if you agreed to it in the first place.

Kind of a pain if it's a large purchase item because you have to always be mindful of your credit limit until the charge shows up.
 

Mad Mike

Well-known member
OK So you regularly consolidate your credit card statements and a receipt doesn't show. How long before it is no longer valid? Can they come after you after a year or two or forever?

I know cheques are stale dated after 6 months if the person hasn't cashed them. However if the cheque was cashed in the allowed time frame and lost / delayed in the bank system the payer still pays, forever.
If they are late in billing you for something your used or bought, then that's their prerogative. The statute of limitations is 2 years from the time they bill you, after that unsecured debt is noncollectable through the courts. That doesn't mean the debt is gone, the creditor can still try to collect, and in many cases will muck with your credit score.

Be careful on stale dated cheques -- that 6 month thing is not the law, it's an individual bank's rule. Banks are not prohibited from clearing a stale dated cheques, they just don't like doing it for cost reasons.
 

GreyGhost

Well-known member
Site Supporter
If they are late in billing you for something your used or bought, then that's their prerogative. The statute of limitations is 2 years from the time they bill you, after that unsecured debt is noncollectable through the courts. That doesn't mean the debt is gone, the creditor can still try to collect, and in many cases will muck with your credit score.

Be careful on stale dated cheques -- that 6 month thing is not the law, it's an individual bank's rule. Banks are not prohibited from clearing a stale dated cheques, they just don't like doing it for cost reasons.
So the two years started the day on his receipt, but ultimately this sounds like it will be decided by mastercard/visa/whoever as they decide whether to process the transaction when it is submitted. It won't be near the courts unless it is contested.
 

Mad Mike

Well-known member
So the two years started the day on his receipt, but ultimately this sounds like it will be decided by mastercard/visa/whoever as they decide whether to process the transaction when it is submitted. It won't be near the courts unless it is contested.
If he has a receipt, the bill has been paid. If the payment bounced or was never processed, the statute starts from the date of invoice, or the first day the charge appeared on a statement.
 

Baggsy

Well-known member
Site Supporter
There's an easy and honest solution: phone them up and ask them. It could be someone messed up and billed someone else, or they billed your old card, or something else. If you received something, there's no sin in paying for it.
 

Mad Mike

Well-known member
There's an easy and honest solution: phone them up and ask them. It could be someone messed up and billed someone else, or they billed your old card, or something else. If you received something, there's no sin in paying for it.
That is good advice, the last thing you want is to have it show up as a charged off debt on your credit report. Derogatory remarks are long lasting and very hard to correct.
 

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