I made an electronic payment on 10-19-2009 on my Home Depot account. My bank gave me a confirmation number showing the funds had been transfered. On the same day, Home Depot charged me a late fee of $39.00, so I called them and they tried to blame my bank. They agreed to remove the late fee, but they refuse to remove the record of a late payment from my account and they say it will be reported as a late payment to the credit reporting companies. I called my bank and they told me Home Depot and received my payment and confirmed it on 10-19-2009 which was the payment due date. My bank added that they could not have given me a confirmation number unless and until the payee had acknowledged the receipt of the funds. Home Depot is penalizing me for their failure to post my payment in a timely fashion. I made my payment on the due date, received confirmation of it, and they still refuse to remove the late payment notice from my account. I also found out they have been charging me $46.69 a year for what they call a "Balance Protection Fee" (Credit Life) which I never signed up for or authorized. Of course, they couldn't do anything about that, I have to call another number to address that issue.

I know my credit score will be damaged or I will be denied credit in the future, based on what they report to a credit reporting agency. Even if I'm not denied credit in the future, I'll have to pay a higher interest rate because of this.