First and only CC (Tesco)

ironed_out

I got a Tesco cc in February this year, as I wanted to use it for paying off my Avon account each campaign, whilst customers cheques are clearing, and also to earn some points.
I paid it off each time so as to make sure I didn't get any charges, unfortunately today I went online to make another payment and found a £12 charge on there for a missed £5 payment.
I phoned Tesco to query this as I made my payments as usual, but it seems that as I didn't make a payment between 2 particular dates, (I paid 1 day earlier than the date he quoted me) then I have been cherged even though I paid it off 'early'
I still can't get my head round this as we were going round in circles...him saying I should have known, and me saying if I had known, then I would have paid it a day later. So basically am I being charged for making an early payment?
I've never had a cc before and this has really put me off. It seems I can do anything right

Mikek_3

This is why I hate credit cards and will never have another one.The places and people giving out these cards have no morals will do anything to make money.

They are changing payment dates aswell so when you miss that they charge you late fees +intrest

I have being told on the fourm that I am an idiot ,troll and unhelpfull because of my views but the more of these stories I read the more I hate credit cards.

Mike

Sneezy

Set up a DD for the minimum payment and then pay extra on top of that, that way it won't make a difference when the rest will be paid...

Mikek_3

Some of them are starting to change pay by dates every month so that you are late and you get charged late fees.This is happening in the states every day

Mike

speedbird1973

You have a statement period (lets pretend it's a calender month) you need to make at least the minimum repayment each period. So if you're statement date is the 1st of the month and your pay by day is 30th. The min payment must hit your account once in the month. If you payment hits the account the day before you've paid twice in the preceeding month. It needs to be thought about, but isn't rocket science once you understand.

Ignore Mike, he's not clever enough to have a credit card

jakesuk

Time and time again this issues arises. There are two options:

1) Take care to make the payment in the right period relating to the statement. If you are in any doubt about the "right period" which should be outlined in your Ts and Cs and on your statement then phone up and ask.

2) Set up a direct debit and you will NEVER be charged a late payment fee. (as the other poster said).

Why people don't just set up a DD and avoid this problem I will never know.

Mikek_3

speedbird1973 wrote: »

You have a statement period (lets pretend it's a calender month) you need to make at least the minimum repayment each period. So if you're statement date is the 1st of the month and your pay by day is 30th. The min payment must hit your account once in the month. If you payment hits the account the day before you've paid twice in the preceeding month. It needs to be thought about, but isn't rocket science once you understand.

Ignore Mike, he's not clever enough to have a credit card

So you think you need to be clever to have a credit card, explain please
I don't have to worry about the bill comming ,the fees,the interest, and Iam not clever!!!!

Can you tell me why op was charged extra so?

heloid

He was charged a fee because he put in his next month payment before he got the statement for it. Unfortunate but thats the way it works.
You just need be aware of when your statement date is and how many days after it is due and make sure you pay in between.
You should be checking this month anyway for fraudulent transactions...

speedbird1973

Mikek wrote: »

So you think you need to be clever to have a credit card, explain please
I don't have to worry about the bill comming ,the fees,the interest, and Iam not clever!!!!

Can you tell me why op was charged extra so?

They were charged extra because they didn't operate within the terms of their contract. It's not the end of the world, it's easily done and they won't do it again! A DD will solve the problem altogether, but the "die if you don't pay by DD" doomsayers are almost as annoying as you!

I don't worry about my bills coming, I don't pay interest or fees. I also get airmiles, clubcard points and cashback. I'm protected under Section 75 of the consumer credit act, I save hundreds of pounds a year on my mortgage. I can borrow interest free from one payday until the next if anything comes up without breaking into the money offset against the mortgage. Trust me Mike, you're not clever!

marksoton

Mikek wrote: »

This is why I hate credit cards and will never have another one.The places and people giving out these cards have no morals will do anything to make money.

Only if, as a consumer you allow them to !

They are changing payment dates aswell so when you miss that they charge you late fees +intrest

Which is why it is important to read anything they send you !

I have being told on the fourm that I am an idiot ,troll and unhelpfull because of my views but the more of these stories I read the more I hate credit cards.

Well you are being unhelpful because you are not offering a balanced or objective viewpoint, only the sullied experience you yourself have had.

The fact remains if you conduct your account in a responsible manner then you can make money from these companies. It's one of the main ethos's of this site.

Mikek_3

marksoton wrote: »

The fact remains if you conduct your account in a responsible manner then you can make money from these companies. It's one of the main ethos's of this site.

Why is there so many horror stories on this fourm so?