Very £3.50 missed payment!! Result: Poor credit score...
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mccristo
Posts: 95 Forumite
Hey All,
I've been carefully building my credit score up as I'm due a remortgage in 3 months time. I've been purchasing many things on credit and paying them off in full a few month later just to try and show some good money management.
I recently bought a phone from Very.co.uk on a BNPL deal. I signed all the forms and everything went through fine. I then started receiving texts saying your payment is due but when I logged in I could only see the phone. I, foolishly, thought this was just bad programming on the automated text alerts. However, I was actually £3.49 in debt due to delivery charges NOT being added to the total balance. I was totally unaware that I had to pay the delivery charge off separately.
I got an important message alter through a few weeks later with a late payment charge and a warning that this may appear on my credit report. I immediately phoned them up and paid the £3.49 and explained what had happened.
My account is now closed but I have a UC mark on my credit report. This has knocked my score down by nearly 70 points. I'm now poorly scored again.
I complained, explained and ask Very to take pity on me and have this mark removed but they have flat out refused to do so. I'm left in the situation that £3.49 in delivery charges have effectively cost me thousands of pounds in mortgage interest. Any advice would be greatly appreciated.
Note: I was told to add a mark of correction to my credit file but this apparently caused you to be automatically forwarded to the underwriters which can cause even more problems apparently.
I've been carefully building my credit score up as I'm due a remortgage in 3 months time. I've been purchasing many things on credit and paying them off in full a few month later just to try and show some good money management.
I recently bought a phone from Very.co.uk on a BNPL deal. I signed all the forms and everything went through fine. I then started receiving texts saying your payment is due but when I logged in I could only see the phone. I, foolishly, thought this was just bad programming on the automated text alerts. However, I was actually £3.49 in debt due to delivery charges NOT being added to the total balance. I was totally unaware that I had to pay the delivery charge off separately.
I got an important message alter through a few weeks later with a late payment charge and a warning that this may appear on my credit report. I immediately phoned them up and paid the £3.49 and explained what had happened.
My account is now closed but I have a UC mark on my credit report. This has knocked my score down by nearly 70 points. I'm now poorly scored again.
I complained, explained and ask Very to take pity on me and have this mark removed but they have flat out refused to do so. I'm left in the situation that £3.49 in delivery charges have effectively cost me thousands of pounds in mortgage interest. Any advice would be greatly appreciated.
Note: I was told to add a mark of correction to my credit file but this apparently caused you to be automatically forwarded to the underwriters which can cause even more problems apparently.
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Comments
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It clearly states when you use Very BNPL that delivery and installation are not included in BNPL and your bill would have stated you needed to make a minimum payment of £3.50 it's not Verys fault, unfortunately it seems to be an oversight on your part.:(0
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Well if you read this forum you will see thay credit scores don't mean much so if your paying for it STOP right away.
Also I think it's a fair mark on your credit report considering that you took out a BNPL offer without understanding it and didn't act on any texts they sent you, which is poor money management. Luckily it has only resulted in 1 late payment marker which won't really count for much or affect you. So just take it as a lesson to not sign up for credit unless you fully understand the terms.0 -
What does UC mean? On credit reports U usually means no data was supplied by the creditor that month.
Very has littered my Noddle credit report with UCs. I rarely use the account and they appear to relate to months when my statement was £0.
Noddle defines UC as:The lender hasn’t been able to give the account a status or this month. This will usually be at the start of a credit agreement when your account is being set up; where your account is open but payments are not due to start immediately; where you have a dispute over the payments due or the goods received; or when your account is not being used."
This doesn't seem to have had any affect on me.0 -
I have got a row of UCs on my MBNA account. I believe they stopped reporting as I wasn't using the card. Not affected my "score" at all nor my ability to get more cards. Th e box is coloured green so not a negative.The lender hasn’t been able to give the account a status or this month.0
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It clearly states when you use Very BNPL that delivery and installation are not included in BNPL and your bill would have stated you needed to make a minimum payment of £3.50 it's not Verys fault, unfortunately it seems to be an oversight on your part.:(
Yes, we are constantly informed on this board that delivery charges (perversely) are not included in the BNPL scam operated by Very. I'm betting that it's only T&C train-spotters, many of whom hang out here, who notice this unusual trap. Clearly there is an issue with Very. This board is littered with complaints about Very in general terms and the BNPL scam in particular. It obviously causes great confusion and yet the blighters at Very persist with it. For heavens sake why don't they just include delivery charges in the option?
OP, when you get it sorted, or even if you don't, close the Very account and send a strongly worded letter to them telling them what a bunch of t****ers they are.0 -
Yes, we are constantly informed on this board that delivery charges (perversely) are not included in the BNPL scam operated by Very. I'm betting that it's only T&C train-spotters, many of whom hang out here, who notice this unusual trap. Clearly there is an issue with Very. This board is littered with complaints about Very in general terms and the BNPL scam in particular. It obviously causes great confusion and yet the blighters at Very persist with it. For heavens sake why don't they just include delivery charges in the option?
OP, when you get it sorted, or even if you don't, close the Very account and send a strongly worded letter to them telling them what a bunch of t****ers they are.
I've never used Very so I took a look at the website to get a view of what you call a "scam". Having viewed the site, I can't see how anybody capable of placing an order can fail to see the information regarding paying the delivery charge. On the BNPL page it states:Get what you need today, take up to a year to pay it off and avoid interest. HowGo shopping as usual and when you get to the checkout simply select the Buy Now Pay Later option.Key features
Pay nothing for 6 months when you spend £100 or more - 1 month = 28 days
Pay nothing for 9 months when you spend £150 or more - 1 month = 28 days
Pay nothing for 12 calendar months when you spend £200 or more
Pay in full before the end of the Buy Now Pay Later period and avoid interest
If you're not ready to pay at the end of the Buy Now Pay Later period you can choose to Spread the Cost.
Find out more
Just so you know, delivery, installation and insurance products cannot be placed on Buy Now Pay Later, exclusions will be confirmed at the point of order. These charges will appear on your next statement. The payment free period will start from the date of order, including pre-orders and items not ready for immediate despatch. The interest will be added to your account at the end of the payment free period.
All in a normal size font - it's the main text on the page.
It then repeats the information in the next box:Any delivery charges need to be paid in full up-front and will appear on your next statement.
We'll remind you when the payment is due!
I also went through the buying procedure, to be sure the information is clear. Details about the delivery charge are written in full size font at the point at which you apply for credit.
Perhaps you could view the site yourself. You appear to be making ill founded judgements without checking your facts.0 -
I've never used Very so I took a look at the website to get a view of what you call a "scam". Having viewed the site, I can't see how anybody capable of placing an order can fail to see the information regarding paying the delivery charge. On the BNPL page it states:
All in a normal size font - it's the main text on the page.
It then repeats the information in the next box:
I also went through the buying procedure, to be sure the information is clear. Details about the delivery charge are written in full size font at the point at which you apply for credit.
Perhaps you could view the site yourself. You appear to be making ill founded judgements without checking your facts.
The only fact to check is that this topic is constantly raised here. It is always catching people out. Anyway - I did just look at the site and the element of text you mention is not bulleted as a "key fact" and is just included as additional information. There is obviously a customer relationship problem here. I can easily see how people would skim that section without really taking it in. What Very need to do is put a statement up like this.
"Please note that delivery charges ARE NOT included in the 'buy now pay later' option and must be paid separately and when invoiced. If you fail to make delivery charge payments we will place you on a credit reference agency blacklist, even for small amounts"
OP, I stand by what I say. Very's approach to this issue seems to be geared towards causing confusion; f 'em off.0 -
It is marked as "1" sorry not "UC" I thought it was "Uncollected" but just 1 missed payment.
I admitted I misread/missed the part about the delivery not being included. I ordered in a rush, as I usually do when buying things not expecting to be screwed over by a large company. It was a mistake, a costly one for £3.50. The system should be able to differentiate between an oversight and poor financial management.
Yes, I was stupid to not read it quickly but I always pay my debts and rectified the probably the moment I realised. Very should be able to do something about this and the system should allow it. I can't help but feel like it's a way for the financial system to screw yet more money out of people.
/lesson learned...annoyingly.0 -
Yes, we are constantly informed on this board that delivery charges (perversely) are not included in the BNPL scam operated by Very. I'm betting that it's only T&C train-spotters, many of whom hang out here, who notice this unusual trap. Clearly there is an issue with Very. This board is littered with complaints about Very in general terms and the BNPL scam in particular. It obviously causes great confusion and yet the blighters at Very persist with it. For heavens sake why don't they just include delivery charges in the option?
OP, when you get it sorted, or even if you don't, close the Very account and send a strongly worded letter to them telling them what a bunch of t****ers they are.
That must be the reason that you have such a bad credit history and have so many problems with companies because instead of sorting out problems you just send them abusive letters!.The only fact to check is that this topic is constantly raised here. It is always catching people out. Anyway - I did just look at the site and the element of text you mention is not bulleted as a "key fact" and is just included as additional information. There is obviously a customer relationship problem here. I can easily see how people would skim that section without really taking it in. What Very need to do is put a statement up like this.
"Please note that delivery charges ARE NOT included in the 'buy now pay later' option and must be paid separately and when invoiced. If you fail to make delivery charge payments we will place you on a credit reference agency blacklist, even for small amounts"
OP, I stand by what I say. Very's approach to this issue seems to be geared towards causing confusion; f 'em off.
I really don't see how putting up a big notice which mentions "blacklists" that don't exists is going to help anyone?.
I've just looked at the BNPL page and the information is very to the point and if someone can't read such a small amount of information before agree to a contract then they shouldn't be taking out financial products without help!.
You may support the hand holding and spoon feeding of information that is becoming more and more common these days but most* adults are capable of reading information and making decisions on their own and.
*I say most but logical people will soon be in the minority if people like you have their way!0
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