Natwest overlimit charges

vet8

Due entirely to my own crass stupidity I went over my limit on my Natwest Credit Card.

They sent me a letter telling me of the £12 charge they would be adding, fair enough. I paid the minimum immediately, then calculated that I would need to pay a bit more to cover the charge they were going to add on so I made another payment. These were received before the due date and at no time from then to the date of my October statement have I been over the limit, but they have charged me another £12 fee on this month's statement and sent another letter.

I know there is some rational explanation for this, but I cannot understand it. Can some banking whizz explain it to me please as to my simple brain it seems I am being charged twice for being over the limit once.

Thanks.

hax_2

Here is a possible explanation:

You were overlimit on your September statement - £12 charge
You were overlimit between the date of your September statement and the date of your payment - £12 charge

Its unfair isn't it? Two charges for going overlimit once, just because the time period spans two different statement dates, as you quite rightly said. It seems like they've found a way to effectively charge £24 even though the OFT says the maximum before they take action is £12.

The same thing happened to me with my Vanquis card, but luckily I contacted them to get the charges refunded. I think you should do the same.

jonesMUFCforever

The secret is to not go anyway near your limit.
Not trying to be a smart !!!! here but IMO leave the last 10% of your credit limit well alone to prevent things like this.

vet8

I agree, in the ideal world, but unfortunately c**k ups happen to those of us who are not perfect.

jonesMUFCforever

Only if you let them happen.

akisd28

NatWest did the same to me recently: they charged me interest that made my balance go over the limit and therefore charged me the £12 overlimit fee. I paid what I was due and didn't use the card till the next statement, yet they charged me another overlimit fee. Their explanation was that it spanned two statement cycles, hence the double charge.

A few not very kind words later, they took the second fee off and admitted that the policy is under review, as 'lots of customers feel the same' as I do. How long is this ridiculous policy going to be 'reviewed' for? It's absurd!

opinions4u

akisd28 wrote: »

NatWest did the same to me recently: they charged me interest that made my balance go over the limit and therefore charged me the £12 overlimit fee. I paid what I was due and didn't use the card till the next statement, yet they charged me another overlimit fee. Their explanation was that it spanned two statement cycles, hence the double charge.

A few not very kind words later, they took the second fee off and admitted that the policy is under review, as 'lots of customers feel the same' as I do. How long is this ridiculous policy going to be 'reviewed' for? It's absurd!

It's also absurd to operate so close to your credit limit.

jonesMUFCforever

.................and why resurrect an old post from 2009?