AMEX Lloyds air miles card

Chris-M_7

I got well and trully stitched up by this crowd... My own fault for not reading the small print, but I bet they make a pile of cash out of this one...

My October statement was 1700.85p So I did my usual online transfer, but I only paid £1700.... It didnt occur to me to pay the odd coppers..

Today the Novemeber statement arrived and it has an interest charge of £28 !! I phoned and queried this and was told that if the account was not paid in full, then they charge interest on the whole of the months transactions..

Sounds like daylight robbery to me... £28 charge for a debt of less than a quid.

bitterSTAR

All credit cards do this but that's the t&c's that we all agree to when getting a credit card. You have to pay the full statement amount, otherwise you get charged interest on the full statement amount.

jonesMUFCforever

How can you say that you have been stitched up?
Why did you not pay the bill in full?

As previous poster has said it is clear in the T&C that if you do not pay in full by due date you will be charged on the whole sum owing.

Chris-M_7

jonesMUFCforever wrote: »

How can you say that you have been stitched up?
Why did you not pay the bill in full?

As previous poster has said it is clear in the T&C that if you do not pay in full by due date you will be charged on the whole sum owing.

I realise it was my own fault...but if you cant see those kind of charges as being blatant theft then you must live on a different planet to me ...

JimArnold

As previously posted all credit cards do this - although if you talk to the right person they may agree a one off refund

Even if its in the terms and conditions small print that doesn't make it a fair practice - like lots of bank charges

exel1966

Chris-M wrote: »

I got well and trully stitched up by this crowd... My own fault for not reading the small print

Isn't that a little contradictory ? Maybe it should have been phrased differently ?

I stitched myself up when I made a costly assumption about how credit cards actually work because I chose to ignore the smallprint/T&C's which are put there for my benefit and to help me understand how my account operates.

[Deleted User]

Chris-M wrote: »

if you cant see those kind of charges as being blatant theft then you must live on a different planet to me ...

Um... it's not blatant theft. You agreed to pay the fee if you broke the agreement.

Did you pay what you had to?

YES - No fee
NO - Pay a fee

Simple.

jonesMUFCforever

I can see why OP is annoyed.
He thought he would be clever and pay the £ off but leave the P. He didn't either read the T&C or understand them and of course its the card lender's fault!

There is no theft here but OP has got it wrong and got it off his chest.
A D/D for the whole amount would have saved him of course.

I live on the planet Zoig of course! LOL