Capital One / Unfair information on Credit Report

Frontera2

Hi :-)

I have set up a standing order payment from my bank to pay the minimum payment to my capital one account which is usually around £110 a month, so I have opted for a payment of £115.00

Last month, due to being overseas and not seeing the bill in time, the minimum payment on my account was £117.25 so I ended up underpaying my £2.25. A sitiuation I correct immediately upon returning home and seeing the next statement showing this.

However, Capital One have recorded this as a "Missed Payment" with the Credit Reference agenices.. Naturaly I am not at all happy with this, having spent the last 18 months trying to restore my credit history to a good level, but wonder if I would be wasting my time trying to get them to change it, bearing mind the rediculously small amount of the underpayment and the circumstances.

Would be greatful for any ideas / comments.


John

Stonk

You would be wasting your time, because you certainly did miss the payment! The facts that you did not mean to, that you are normally a good payer, and that you rectified it as soon as you realised, are irrelevant. Normally one can appeal to their kind nature with respect to fees because all they have to do is click a button to remove the fee, but reversing a credit file entry is gonna mean work for somebody.

Tell the CC company to take your minimum payment by direct debit. It is so much easier than you pushing it to them by SO. It is always for exactly the right amount, on exactly the right day. And if it isn't, then it's their fault not yours.

Frontera2

Stonk wrote:

You would be wasting your time, because you certainly did miss the payment! The facts that you did not mean to, that you are normally a good payer, and that you rectified it as soon as you realised, are irrelevant. Normally one can appeal to their kind nature with respect to fees because all they have to do is click a button to remove the fee, but reversing a credit file entry is gonna mean work for somebody.

Tell the CC company to take your minimum payment by direct debit. It is so much easier than you pushing it to them by SO. It is always for exactly the right amount, on exactly the right day. And if it isn't, then it's their fault not yours.

But my argument is that I DIDNT miss the payment, I underpaid by a measly two pounds and twenty five pence. If I'd only paid half of the payment due I could understand but underpaying by £2.25 and getting back to square one on trying to sort out my credit history seems harsh to the extreme!

steve!_10

Frontera, I think this debate could get quite pedantic.

Look at it this way: The card company wanted payment of £117.25, did you, or did you not, make a payment to the sum of £117.25 or more? As with anything to do with banking, there is no "sort of", only absolutes.

Frontera2

I agree but then it doesn't mean you can't challenge it!

After all, there must be loads of people (myself included) who have, for example, indavertently gone overdrawn and managed to get the fees refunde for doing so. What's the difference??

steve!_10

You never mentioned that they charged you a fee though, did you? In which case, yes, you might have some joy in getting any fee back, but the fact still remains: You didn't meet the minimum payment.

I think it sucks that it's over a tiny amount, but don't ever expect a gesture of goodwill from a bank/credit company. If you ever do get any, I'd suggest purchasing a lottery ticket too.

Jaydee_3

I know this is no good to you now, but may help you and others getting done over in a similar way......

You should be able to set up a direct debit with them so that the minimum always goes out every month. I did this and because of this there is always a payment on time (albeit the minimum). My record shows 3.5 years of on time payments as a result.

I have also setup a standing order that I can pay on top of this whenever I have spare funds to knock it down as and when.