Statement Definition

NickX

Mozette wrote: »

I have a Virgin card, my statement date is the 13th of the month. I have the 16 months at 0% until the 13th of this month, i.e., my November statement

Yep Virgin is part of the MBNA stable. I'm sure you know what your doing, but I would ensure the balance was zero by 12th November to avoid interest.

jonejon

Thanks everyone for your answers,

Your right it is an MBNA card, I've just got off the phone to them, the operator said that it means the statement "released" in October and that it states released in the T&C, I explained that it only says "Your October Statement" in the T&C's, and asked for the section in which it says "released" in October, which she couldn't give me as there isn't one.

They admitted that the phrasing "Your October Statement" is ambiguous and could be interpreted in different ways and credited me back all the interest.

So on 1 Feb you received your February statement, which covered dues for the whole of January.

I still consider a statement covering the whole of January as a January Statement not a February. As whenever I request copy statements / remittance advices from banks/suppliers, or my customers request copy invoices/statements for a certain month it is universally considered that you mean a statement which covers the months period not the previous month, unless me, my customers and suppliers have been running our businesses incorrectly, even my ACCA qualified account agrees.

I'll just have to remember in the future that credit cards don't run the same as other account departments.

NickX

jonejon wrote: »

They admitted that the phrasing "Your October Statement" is ambiguous and could be interpreted in different ways and credited me back all the interest.

Result :beer:

You have managed to get October interest free aswell then which was the aim of my suggestion about moving Statement Dates back to the end of the month.

You know for next time anyway and can move the Statement Date to your benefit if you wish.

Credit Card Providers do use every trick in the book (including ambiguous Terms and Conditions) to get us to pay interest, but there are many on here who are masters at playing them at their own game.

Well Done on getting it sorted.