Why am I paying more interest on my life of balance transfer?

scorpio2

Hi all...I transfered a balance to another credit card last yr, It was life of balance transfer 6.5% my interest ws approx £4 per mnth...now! 12 months later my interest is approx£10!! per month I did have one lat payment a few months ago..has this anythingt to do with it although i did pay the late payment charge?? I am confused I have spoke to man at customer service but didnt understand what he ws explaining thanks...:rolleyes:

jinky67

A lot cards now, if you make a late payment rescind the LOB rate, so you are probably paying the standard rate:cool:

scorpio2

right so just because I ( supsoe its classed as a default) which ws £12 charge I am now suffering grrrrrrr:mad: oh dear my own fault I know..so much for trying to save money..tut

Dabooka

then there's no harm in ringing up and politely ask for them to reconsider. They can only say no!

Moggles_2

scorpio2 wrote: »

I suppose it's classed as a default.

One late payment would not amount to a "default"
May I ask which credit card is involved?

dfh

Credit Card companies do reserve the right to withdraw any promotional offers if you make a late payment.You could write to them explaining it was a one off and you paid the late fees and asking them to re-instate the offer as a gesture of goodwill.