Credit Card payments

funschine

I have recently tranfered by credit card balance from a Royal bank card to Intelegent Finance.3 working days before my payment was due to IF I phoned IF to pay over the phone using my Debit card, only to be told that I can only use this method of payment if my payment is late.! As a online transfer takes a week how can these credit card companies NOT accept Debit card payments over the phone! Surely they would be happy to accept payments no matter how the payment is made! I had no problem making my payments with Royal bank this way. Grrrr!:mad:
phew...needed to get that off my chest.

Thanks
Funschine

Call_Centre_Monkey

IF cards never advertise the fact they accept debit cards. There are at least 5 other ways to pay that spring to mind straight away.

1. Cheque in the post
2. Payment in bank with cheque/cash
3. Bill payment from bank account
4. Set up a standing order from bank account for fixed amount
5. Set up Direct Debit from bank account for minimum or full payment.

These methods, along with anothers will be shown on the back of your monthly statement.

VenuS

You would think they would be bending over backwards to accomodate customers. But no, they want us to be late,(I believe they do!) so make it difficult to pay over the phone.

I normally pay by bank transfer each month, very easy to set up, and less hassle to be honest. I don't normally pay my CC's with direct debit, normally due to the fact I pay the balance in full at the end of the month, but everyones perogative to do as they wish.

There is other alternatives though,(as pointed out by CCM above) so don't worry

Astaroth

If they take debit cards then they have to pay a processing fee where as for a bank the other methods are basically free - could be why they dont want to accept debit cards

funschine

Thanks all
I know there are other ways to pay but as I am with another bank, it takes at least 5 working days for each other method of payment to reach IF.
I used to work in a shop and we where told that the shop was only charged for credit card transactions if the transaction is under £5.

poppy_f1

i've fought with IF for ages since they cant accept my rbos debit card (they will only accept halifax or bos)for any payment (inc late payments) when its perfectly fine for any other cc i've had

Call_Centre_Monkey

Why is it so hard just to phone the bank instead and get them to transfer the funds over? The payment timescales are still 3-4 working days.

And any credit/debit card can be accepted if it is a late payment (provided your new statement has been produced).

King_Of_Fools

With a Halifax credit card you can pay the bill by debit card online. It would be surprising if IF did not offer the same facility.

bengal-stripe

I pay my Abbey (MBNA) by debit card on-line.

Payments taken before 5pm Monday to Friday will be credited to your credit card account on the next working day. Payments made after 5pm or weekends or bank holidays will be credited to your account in two working days.

In all cases, you will see your payment on your account the day after it is credited.

Astaroth

funschine wrote:

we where told that the shop was only charged for credit card transactions if the transaction is under £5.

All cards carry a charge to the person accepting payment. Debit cards are a flat rate where as credit cards are a proportion of the transaction amount (which is one of the key reasons why shops only give cashback on debit cards as it doesnt cost them anything more to do it and helps them get rid of cash where as a credit card would increase the costs for them - there are other reasons before people point them out )

Stores will sometimes pass on the fee to customers overtly by charging for card payments - the most common are travel agents who charge for credit card payments (unless you negotiate on it)