Standing orders being cancelled by my credit card company.

SJHSpaffrow

Hello Everyone

Over 15 months ago I was moved overseas with work, I rang my credit card company to up my payments to double my minimum payment set it all up as a standing order only to have returned from my tour of duty overseas, to find they have only taken one payment out of my account at the set rate by myself the customer, am I wrong in saying this is illegal ? and only the customer can change a standing order. I am new at all this any help/advise would be much appreciated.

Thank you Stephen

Eydon

First off, you wouldn't set up a standing order with your credit card company. A standing order is something that you would set up on your bank account, to pay a set amount at regular intervals to someone. In this case you would be responsible for the amount and interval, and only you could change it (via your bank).

If you have arranged something directly with your credit card company, then it should be a direct debit. In this instance it would be up to them to request payments as and when required. You would have signed up to either a full balance payment, a minimum payment or possibly a fixed monthly payment. In this instance the responsibility lies with the credit card company, and they are free to change the amount or interval of the payments, provided they notify you first.

Have you experienced problems because they have not taken payments?

lisyloo

I rang my credit card company to up my payments to double my minimum payment set it all up as a standing order only

You could not have done this because standing orders are an instruction to your bank and NOT the credit card company.
It sounds like there has been some misunderstanding.
Could you have possibly set up a one-off transfer?

But I certainly think you didn't do what you thought you did because it's not possible.