Missed payments - how do I deal with it?

mantle_2

Hi

I'm looking for a bit of advise. I've had a credit card with this one company for about 7 years. At times I've had quite a bit of cash on it and at other times not a lot, but I've always paid on time and paid more than the minimum amount due. A couple of months ago they sent through some balance transfer stuff, and I had some debt elsewhere that it made sense to shift to them for 6 months to benefit from the promotional rate. That went through fine, but last month I made a mistake (the first time ever) and made a late payment on the card. I only found out when I looked at this months statement and noticed my minimum amount due was 3 times what it was before and queried it on the phone. When I spoke to customer services they told me that because I was late with a payment I forfit the promotional rate for the whole balance now. I totally admitted that it was my error, but as I had been a customer for ages and had a good history with them, could they cut me some slack. The woman on the phone couldn't help but gave me a number for their rates department and said I should speak with them. I figure I only have one stab at this and want to get it right, so I'm looking for some advise on how to handle it before I call - or perhaps I should write?

I know it's totally my fault and I've little doubt credit card companies are just waiting for people to slip up like this, but in reality I'm hoping my history with them will work in my favour. I don't want to play my ace card unless my back's against the wall with them, but if it is then they might be stupid to try and make what will be an additional £600 in interest out of me over what would have been the promotional term, as I'll only shift the entire balance elsewhere if they do.

Any advise appreciated.

bengal-stripe

It is always a bad idea, not to have a DD in place to take the minimum on the day due.
Then this slip-up could not have happened.

mantle wrote: »

.....but as I had been a customer for ages and had a good history with them, could they cut me some slack.

Whether or not the card will re-instate your no-interest deal is entirely up to them.
Phone them up, eat humble pie and promise to set up a DD. Just mention the same things, as in your postings.

mantle wrote: »

....play my ace card..... as I'll only shift the entire balance elsewhere if they do.

You don’t really have an ace card.

Threatening to move you debt (even if you have another card to move it to),
will not cut much ice. After all, the current no-interest deal, costs the CC money.
So, the earlier you move your debt elsewhere, the better for the CC.

mantle_2

Thanks for the advise. I called them up, told them that I'd made a total mistake and that it was entirely my fault and that, given my excellent history with them, could they extend me some goodwill. No arguements at all from them and they confirmed my excellent payment history - all reinstated and I have now set up a direct debit.

Lesson learned!!!

cos_2

That's great news! I made a similar booboo with Bank of Scotland when I thought I'd set up a Direct Debit and hadn't. The person on the call centre said I'd probably lost my 15 month 0% on purchases, but he'd pass on my explanation to the appropriate department. I'd explained that all my payments are by DD and, since my current account is with them, it could all be checked.

Next statement showed everything was ok: no charge for missing payment and 0% back.

Cheers, BoS!!!

/Edit - meant to say I set up the DD on the same phone call!