Regular Payments off a Credit Card Discussion

kevansandra

can anybody explain to me how I go about using new legislation to claim back interest charges or even wipe out outstanding balances on credit cards issued before 1st april 2007.
I have been approached by a legal firm who garauntee successful claims for a fee

Flyingbanana_3

MBNA have now increased my interest rate to 34%. My interest per month is more than my min payment. Hows that for ROBBERY

kitkat84_2

Flyingbanana wrote: »

MBNA have now increased my interest rate to 34%. My interest per month is more than my min payment. Hows that for ROBBERY

In MBNA's t&c's it states that the minimum payment will always be more than any interest and fees charges - i would call them to challenge this as it is obvioulsy not being calculated correctly.

Flyingbanana_3

Wow this is good info & i admire you for reading T's & C's. i will look into

crain82

Hi, my credit card has been taken over its limit by interest charges despite me paying the prescribed minimum payment, I have been charged £12.
Is the credit card company obliged to suggest a minimum payment that will ensure I do not go over my limit and therefore avoid charges? Or is this fair play and I should have been on the ball and calculated that this would happen?
does anyone know if I can claim the charge back and how would I do that please?

Crain

Ray_Tray

This is a nice forum to know the regular Payments off credit card division. This is very useful.
..............................
Edward

poker_face

Ray_Tray wrote: »

This is a nice forum to know the regular Payments off credit card division. This is very useful.
..............................
Edward

Welcome to the Forum:beer:

Nolly_2

I am currently in dispute with Barclaycard.

I received my car insurance renewal from Post Office insurance in the summer, and rang them to tell them I was not renewing. They had my credit card details on file but the card they referred to had expired, so I thought I was safe.

The numpty on the phone failed to put in my non-renewal and they took £393 from my card. I complained and, upon investigation, they refunded it.

I have also lodged a complaint with Barclaycard, as it authorised a transaction on card details that had expired. They initally said that merchants had 6 years and one day to process old transaction, but I informed them it was a new transaction.

I then received an email on 18th October saying I would hear from them within 5 days. I rang them today to be told they had written to me on 22nd October, which I had not received. Then I was told that, as the insurance company had my details, they had special dispensation to authorise it.

I explained that I was still extremely unhappy at Barclaycard's disregard for my account's security.

They are still investigating my complaint. I am holding the FSA in reserve, but would be grateful for any advice.

Rich_Richmond

If you set up a regular payment on your credit card you have no automatic right to cancel. In some cases, it can be practically impossible to end the agreement and disputes can take up to six months to resolve.
The problem is occurring because most people do not understand the difference between normal direct debit and the credit card equivalent.
Continuous payment authorities are becoming more common due to the internet.
By simply entering your card details, regular subscriptions to content providers can be set up immediately.
But while setting up these payments is easy, stopping them can be a nightmare.

To cancel a continuous payment authority, you must first contact the retailer.
If the retailer does not reply, cannot be contacted or refuses to stop collecting the payment, contact the card company.

Regards

airconman

The point remains this is a bad way of paying regular bills - I have been fighting with a internet fax service who simply didn't want me to cancel and just kept taking the monthly fee (fortunately not a vast amount)
I think I may have managed it this time but WHAT A HASSLE!