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  • FIRST POST
    • mccristo
    • By mccristo 22nd Sep 16, 3:56 PM
    • 84Posts
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    mccristo
    Very £3.50 missed payment!! Result: Poor credit score...
    • #1
    • 22nd Sep 16, 3:56 PM
    Very £3.50 missed payment!! Result: Poor credit score... 22nd Sep 16 at 3:56 PM
    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.
Page 1
    • zx81
    • By zx81 22nd Sep 16, 3:59 PM
    • 8,706 Posts
    • 8,536 Thanks
    zx81
    • #2
    • 22nd Sep 16, 3:59 PM
    • #2
    • 22nd Sep 16, 3:59 PM
    I'm left in the situation that £3.49 in delivery charges have effectively cost me thousands of pounds in mortgage interest.
    Originally posted by mccristo
    What rate did your mortgage to as a result of the charge?
    • A4445
    • By A4445 22nd Sep 16, 4:53 PM
    • 383 Posts
    • 174 Thanks
    A4445
    • #3
    • 22nd Sep 16, 4:53 PM
    • #3
    • 22nd Sep 16, 4:53 PM
    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.
    • takman
    • By takman 22nd Sep 16, 5:05 PM
    • 1,305 Posts
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    takman
    • #4
    • 22nd Sep 16, 5:05 PM
    • #4
    • 22nd Sep 16, 5:05 PM
    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.
    • SnowTiger
    • By SnowTiger 22nd Sep 16, 5:18 PM
    • 2,734 Posts
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    SnowTiger
    • #5
    • 22nd Sep 16, 5:18 PM
    • #5
    • 22nd Sep 16, 5:18 PM
    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 hasnít 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.
    • molerat
    • By molerat 22nd Sep 16, 5:29 PM
    • 14,627 Posts
    • 9,010 Thanks
    molerat
    • #6
    • 22nd Sep 16, 5:29 PM
    • #6
    • 22nd Sep 16, 5:29 PM
    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.
    www.helpforheroes.org.uk/donations.html
    • GingerBob
    • By GingerBob 22nd Sep 16, 8:13 PM
    • 2,683 Posts
    • 1,047 Thanks
    GingerBob
    • #7
    • 22nd Sep 16, 8:13 PM
    • #7
    • 22nd Sep 16, 8:13 PM
    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.
    Originally posted by A4445

    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.
    • Bogalot
    • By Bogalot 22nd Sep 16, 8:43 PM
    • 173 Posts
    • 331 Thanks
    Bogalot
    • #8
    • 22nd Sep 16, 8:43 PM
    • #8
    • 22nd Sep 16, 8:43 PM
    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.
    Originally posted by GingerBob
    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.
    • GingerBob
    • By GingerBob 22nd Sep 16, 8:57 PM
    • 2,683 Posts
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    GingerBob
    • #9
    • 22nd Sep 16, 8:57 PM
    • #9
    • 22nd Sep 16, 8:57 PM
    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.
    Originally posted by Bogalot

    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.
    Last edited by GingerBob; 22-09-2016 at 8:59 PM.
    • mccristo
    • By mccristo 22nd Sep 16, 9:18 PM
    • 84 Posts
    • 29 Thanks
    mccristo
    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.
    • takman
    • By takman 22nd Sep 16, 9:26 PM
    • 1,305 Posts
    • 990 Thanks
    takman
    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.
    Originally posted by GingerBob
    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.
    Originally posted by GingerBob
    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!
    • takman
    • By takman 22nd Sep 16, 9:28 PM
    • 1,305 Posts
    • 990 Thanks
    takman
    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.
    Originally posted by mccristo
    How exactly has it been a costly mistake and who has screwed you out of more money?. How much money has this actually cost you?.

    From reading your first post i can't see how this incident has caused you to loose any money?.
    • YorkshireBoy
    • By YorkshireBoy 22nd Sep 16, 9:30 PM
    • 27,886 Posts
    • 15,758 Thanks
    YorkshireBoy
    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.
    Originally posted by mccristo
    That's incorrect. All it means is that you'll fail all automated credit scoring systems (they work with numbers only, not text), meaning the application is processed manually. I believe they're bound (by regulation/legislation?) to process them, rather than binning them.

    You admit you didn't read the T&Cs, and you now accept this was a mistake. However, did they not also send you a statement (in addition to the other contact they made)? If they did it would appear you also didn't read that either?
    • GingerBob
    • By GingerBob 22nd Sep 16, 9:41 PM
    • 2,683 Posts
    • 1,047 Thanks
    GingerBob
    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!.



    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!
    Originally posted by takman

    LOL! For what it's worth I assume my credit history is pretty much immaculate. I can't be certain because I never check, but if it isn't it will down to malicious reporting. Have you somehow managed to determine who I am and then hacked Experian's files? Or perhaps you're just making an assumption?
    • takman
    • By takman 23rd Sep 16, 12:16 AM
    • 1,305 Posts
    • 990 Thanks
    takman
    LOL! For what it's worth I assume my credit history is pretty much immaculate. I can't be certain because I never check, but if it isn't it will down to malicious reporting. Have you somehow managed to determine who I am and then hacked Experian's files? Or perhaps you're just making an assumption?
    Originally posted by GingerBob
    You've mentioned before that you atleast have the odd missed payment on your credit history.

    I don't understand why you wouldn't check considering that you can get your reports free from two of the credit agencies (soon to be all three).
    but then again you do have a irresponsible attitude on the forum and like to spread misinformation so I suppose it's logical you also have an irresponsible attitude towards your finances!.
    • mccristo
    • By mccristo 23rd Sep 16, 9:45 AM
    • 84 Posts
    • 29 Thanks
    mccristo
    A lower credit score means worse products. With a mortgage this means thousands of pounds in interest, that is fact. If you are referred to the underwriters you are far more likely to get a revised mortgage product or rejected outright. That is also fact. So yes, missing this one payment has cost me a lot of money. So, rightly so, I'm annoyed and I DO feel screwed over by Very. Why the hell isn't the delivery part of the total sum if they're not trying to squeeze money from customers who do miss that line?

    To be perfectly blunt, judging someone because they missed a block of regular sized text at the bottom of a large marketing site is idiotic and a sheer case of jumping on someone who came here looking for help.

    I came here for advice and, instead, get told I shouldn't be getting credit products as I'm incompetent? If you don't have anything useful to say please kindly jog on.
    • zx81
    • By zx81 23rd Sep 16, 9:51 AM
    • 8,706 Posts
    • 8,536 Thanks
    zx81
    A lower credit score means worse products.
    Originally posted by mccristo
    Not really. Your score is not seen or used by anyone and plays no part in underwriting.

    Lenders will look at your credit file and use the data on there to make a decision. That's not to say that a late payment may not have an impact - it could, particularly if you are borderline.

    But your score plays no part in the process whatsoever.
    • MEM62
    • By MEM62 23rd Sep 16, 10:12 AM
    • 886 Posts
    • 591 Thanks
    MEM62
    A lower credit score means worse products. No is doesn't. Credit scores are randomly generated numbers. They are meaningless and lenders do not see them. With a mortgage this means thousands of pounds in interest, that is fact. If you are referred to the underwriters you are far more likely to get a revised mortgage product or rejected outright. That is also fact. Is it? How do you know when you haven't even applied yet? So yes, missing this one payment has cost me a lot of money. It has not cost you a single penny so far. So, rightly so, I'm annoyed and I DO feel screwed over by Very. Why the hell isn't the delivery part of the total sum if they're not trying to squeeze money from customers who do miss that line?

    To be perfectly blunt, judging someone because they missed a block of regular sized text at the bottom of a large marketing site is idiotic and a sheer case of jumping on someone who came here looking for help.

    I came here for advice and, instead, get told I shouldn't be getting credit products as I'm incompetent? If you don't have anything useful to say please kindly jog on.
    Originally posted by mccristo

    I am sure that, when you actually come to sort your re-mortgage, you will find that this will have no impact. As for Very, from the posts on here they are known to be less than sympathetic in these situations and are probably not the best of companies to deal with if you have an issue. Either way I doubt that you will be impacted by it.
    • takman
    • By takman 23rd Sep 16, 11:02 AM
    • 1,305 Posts
    • 990 Thanks
    takman
    A lower credit score means worse products. With a mortgage this means thousands of pounds in interest, that is fact. If you are referred to the underwriters you are far more likely to get a revised mortgage product or rejected outright. That is also fact. So yes, missing this one payment has cost me a lot of money. So, rightly so, I'm annoyed and I DO feel screwed over by Very. Why the hell isn't the delivery part of the total sum if they're not trying to squeeze money from customers who do miss that line?

    To be perfectly blunt, judging someone because they missed a block of regular sized text at the bottom of a large marketing site is idiotic and a sheer case of jumping on someone who came here looking for help.

    I came here for advice and, instead, get told I shouldn't be getting credit products as I'm incompetent? If you don't have anything useful to say please kindly jog on.
    Originally posted by mccristo
    So there you go you haven't lost any money and your just assuming you will!. Instead of just reading what people on this forum are saying and understanding how credit scoring works you are just assuming how it works. Just like you did when you took out credit with Very your not reading and just assuming.

    If you think telling you to read the conditions of a financial product before you sign up to it is not useful then this won't be the last financial mistake you will make!.
    • GingerBob
    • By GingerBob 23rd Sep 16, 12:17 PM
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    • 1,047 Thanks
    GingerBob
    You've mentioned before that you atleast have the odd missed payment on your credit history.

    I don't understand why you wouldn't check considering that you can get your reports free from two of the credit agencies (soon to be all three).
    but then again you do have a irresponsible attitude on the forum and like to spread misinformation so I suppose it's logical you also have an irresponsible attitude towards your finances!.
    Originally posted by takman
    Some advice: if you concentrate on the issues being discussed, rather than commenting on the people involved in the discussion, you might be taken more seriously.
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