NatWest dubious late payment charges - do I have to pay?

Froggy_GTF

I had a platinum Mastercard with Natwest. Until I got fed up with them always seeming to put their repayment dates on non-working days, which kept catching me out. I know a bit better attention to the dates would have been in order, but none of my other cards did this, so what with balancing the usual work and family thing, it caught me out a few times. But I'd finally had enough of this, and cancelled the card, as they refused to offer any goodwill gesture in the light of my being a longstanding (and long suffering) customer. So, they levied the usual late payment fee, pluss one month's interest. Which I had expected. But they seem to have set up their late payments such that you end up paying interest on the account (despite having been only a day late in paying the FULL amount) for a second month as well. So, for being one day late in paying my account off in full, I have ended up paying two months' interest.

I am sorely tempted to call their bluff on this one and refuse to pay the second interest charge. But does anyone have any advice for doing this. The first thing I've thought of is to ask that the amount be marked "disputed" using the Consumer Credit Act in which case, as I understand it, it will not accrue any interest charges during the dispute. But can I do that? I don't like bank charges, but I'm prepared to accept they exist, but to levy interest over a two month period does seem to be extortionate. So, are any of you out there able to offer some help?

Thanks, Jo:mad:

YorkshireBoy

You would be extremely foolish indeed to adopt the approach you're proposing.

The two months interest thing is standard with all cards and is detailed in (and forms part of) your credit agreement/T&C's.

If you're carrying an interest bearing balance you need to clear two consecutive statement balances in full by their respective due dates in order to stop the 'residual' or 'trailing' interest.

When you apply for your next card, set up a direct debit mandate...and put an end to late payments ONCE AND FOR ALL.

normanmark

Theres nothing to dispute, you paid late & thus should accept the charges that come with the terms and conditions ie. the interest.