Should I pay this unexpected credit card interest?

redmower3

exel1966 wrote: »

Your posts above are not clear in that they don't give the neccessary detail for anybody to give correct advice or to infact tell whether the company have charged you mistakenly. From what I've read, it seems SKY have no case to answer to to you or the FOS and you are the one who is in error here. Not what you want to hear, but unless you elaborate ................

When exactly did you apply for the card ?
What is the date on your acceptance letter ?
What date did you receive the card or BT to the card ?
You mentions purchases only at 0% - What about BT's ?
Did you have different 0% periods ?
On what exact date did interest start accruing on the account ?
In your accounts above you have 'presumed' and 'assumed' - Did you not think to check ?

Thank you for your input.

As explained in ealier posts some of the information you request is not to hand as a result of a house move.


As far as prsuming rathing than asking...hindsight is wonderful...however seeing "estimated interest = zero" seemed totally unambiguous to me so I paid the minimum as in previous months. If I had seen 'interest next month = £100" I would have paid off the balance in full.

I also believe that the promotional period was in fact 9 months rather than the six I origianlly thought, making the March statement the 8th statement.

I started this post as I had, after months of inaction from Skycard, just received the 'final letter' from them.

I stated earlier that the only transactions were purchases.

I stated in post #1 that interest of ~£100 appeared on the April statement, in spite of the March statement showing estimated interest of zero.

In the final letter Skycard state that "Your interest free period of 0% was withdrawn on 1st March 2008. After this time your interest rate was revert to standard rates. ...blah blah blah.... I can confirm that the interest on your unpaid balance is charged at £19.99% on purchases on your outstanding balance from 1st March 2008 , at that time your interest was £101.10. Therefore the interest...."

And this is the crux of the matter...

Skycard state that int free period ended 1st March so why on the mid March statement did the estimated interest appear as zero????????


And why do I keep getting logged off of this board if I take more than a few minutes to post a reply?

Moggles_2

The "estimated interest next month ..." statements were designed to help consumers. Unfortunately, they lull some into a false sense of security. Even when this message changes to £X, you won't necessarily know the exact expiry date of your 0% deal.

Rather than rely on your own calculations (mine have been hopelessly adrift in some cases), best practice IMO is to check the expiry date when you phone to activate the new card. (There's often a dedicated, Freefone number for this ) That way you know exactly where you stand.

Stardust77

Hi,

I haven't got a skycard but my cc statements also have the estimated interest box with a note on the back of the statement indicating the estimated interest doesn't take in to account any introductory offers that may be due to expire.

If you phone them up and ask for the date of account opening and add the 6m from that specific date, that's usually when you need to have paid the full balance by to avoid any interest.