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0% transfer offer on letter but transfer refused
rubble2
Posts: 570 Forumite
in Credit cards
Hi,
As the title says, I got a letter through the post offering a 0% transfer deal on a Lloyds TSB credit card. I rang the number given today to take up the offer but it was refused due to an 'external issue' not with the Lloyds account.
Wasn't best pleased as it seemed pontless sending an offer by post only to refuse it once I requested the transfer, the operator asked if I had any missed or late payments which could have affected things - I said no because to the best of my knowledge there wern't any.
This got me thinking though and I checked my other payments and found that a 'Faster payment' made to Virgin on a Friday didn't clear until the Monday making it one day late (the account was paid in full) I rang virgin and they have refunded the late payment fee.
So, assuming that this is what screwed up the balance transfer, and given that Virgin have refunded the late payment fee, is it worth me going back to Lloyds again and explaining?
Also, again assuming that this is wahtthe problem is, what are the wider implications re my credit rating, will the fact that Virgin have refunded the payment clear any negative impact on my credit score?
Thanks
As the title says, I got a letter through the post offering a 0% transfer deal on a Lloyds TSB credit card. I rang the number given today to take up the offer but it was refused due to an 'external issue' not with the Lloyds account.
Wasn't best pleased as it seemed pontless sending an offer by post only to refuse it once I requested the transfer, the operator asked if I had any missed or late payments which could have affected things - I said no because to the best of my knowledge there wern't any.
This got me thinking though and I checked my other payments and found that a 'Faster payment' made to Virgin on a Friday didn't clear until the Monday making it one day late (the account was paid in full) I rang virgin and they have refunded the late payment fee.
So, assuming that this is what screwed up the balance transfer, and given that Virgin have refunded the late payment fee, is it worth me going back to Lloyds again and explaining?
Also, again assuming that this is wahtthe problem is, what are the wider implications re my credit rating, will the fact that Virgin have refunded the payment clear any negative impact on my credit score?
Thanks
0
Comments
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Hi,
As the title says, I got a letter through the post offering a 0% transfer deal on a Lloyds TSB credit card. I rang the number given today to take up the offer but it was refused due to an 'external issue' not with the Lloyds account.
Wasn't best pleased as it seemed pontless sending an offer by post only to refuse it once I requested the transfer, the operator asked if I had any missed or late payments which could have affected things - I said no because to the best of my knowledge there wern't any.
This got me thinking though and I checked my other payments and found that a 'Faster payment' made to Virgin on a Friday didn't clear until the Monday making it one day late (the account was paid in full) I rang virgin and they have refunded the late payment fee.
So, assuming that this is what screwed up the balance transfer, and given that Virgin have refunded the late payment fee, is it worth me going back to Lloyds again and explaining?
Also, again assuming that this is wahtthe problem is, what are the wider implications re my credit rating, will the fact that Virgin have refunded the payment clear any negative impact on my credit score?
Thanks
Other posters may know better, but I think Virgin only register you as one payment down on the bureau if you are unpaid when the statement is produced, which is a few days after the payment is due. Also they only update the bureau once a month, so you'd be unlucky either way.
The fact that Virgin have refunded the payment will itself make no difference to your credit file.
Its probably Lloyds credit scoring - they will have decided after sending you the mailing that they no longer want to offer the service, and this will be a combination of your behaviour on the credit card and your bureau file. When I mean behaviour, I dont mean missing payments, but maybe something as simple as taking out lots of small amounts at the ATM etc. It might be worth checking back with them in a week or two to see if the situation has changed.:xmastree:POMDB Xmas 2013 Board - Paid off £12k in 2012 :j:j :xmastree:
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Just found out I have a 0% transfer offer on my Barclaycard so have used this without any problem being flagged0
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The Virgin card is operated by MBNA so check that MBNA haven't blocked the transfer for some obscure reason.
This happened to me yesterday:
I have held an MBNA Visa for over five years with a balance currently of £1100. Six months ago MBNA replaced my Visa card with a platinum Visa and additional Amex card that I neither asked for or wanted and have never used. Both credit card numbers now appear on my monthly statements.
I have recently taken on a Halifax card with a 20 month 0% tansfer rate in order to move the MBNA £1100 but yesterday the Halifax wrote to me saying "unfortunately I am unable to perform the balance transfer to this issuer."
I telephoned Halifax who made a number of checks before informing me that they were quite prepared to undertake the tranfer but the request had been refused by MBNA. I was both surprised and annoyed at this so I contacted MBNA who explained that whilst my Visa was linked to my Amex, the Amex is the primary card on the account. Despite never having used the Amex and having a balance of £0, I had to supply this card number to Halifax in order that the £1100 Visa transfer could take place.
It seems that MBNA are deliberately making transfers difficult so if your request is declined then make sure that you query the decision.0 -
Faster payment doesn't always work. My Lloyds TSB Credit Card payment was due on a Saturday. I made a faster payment on the Friday and this showed in my online statement as 'available' on the Friday afternoon, but was not actually showing on the statement. It did not appear on the Statement until the Monday and I was charged a £12 late payment fee!!!! On checking back I found this had happend once before (so twice in 3 years) and, because of this my limit was reduced. Lloyds are not interested at all, saying tough, thats' how it works!!!0
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I have held an MBNA Visa for over five years with a balance currently of £1100. Six months ago MBNA replaced my Visa card with a platinum Visa and additional Amex card that I neither asked for or wanted and have never used. Both credit card numbers now appear on my monthly statements.
That's stupid - you must be earning some form of reward for using the card, and the Amex accumulates reward points faster than the Visa card, so by not using it where possible you're losing out.I telephoned Halifax who made a number of checks before informing me that they were quite prepared to undertake the tranfer but the request had been refused by MBNA. I was both surprised and annoyed at this so I contacted MBNA who explained that whilst my Visa was linked to my Amex, the Amex is the primary card on the account. Despite never having used the Amex and having a balance of £0, I had to supply this card number to Halifax in order that the £1100 Visa transfer could take place.
The cards are on the same account so the Amex doesn't have 'a balance of £0' at all, it has the same balance as the Visa card.It seems that MBNA are deliberately making transfers difficult so if your request is declined then make sure that you query the decision.
Unlikely, you have now provided Halifax with the correct card number and the transfer has gone through, I don't see the issue?0
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