Paying Too Early?????

chattychappy

Curt. wrote: »

But make sure they ammend any missed payment mark too, otherwise the goodwill gesture is worth nothing - what is £12.00/a few pounds of interest compared to a permanent mark on his credit file?? If any record has been made, that is...

Actually I see it the other way around. Cash is cash. I think in the OP's case could be quite significant if he takes their offer to pay the interest/charge but continue with the promotional offer.

On the other hand, a single late payment isn't really going to wreck his rating.

Curt.

Case could be significant in what sense?

In regards to the late payment, as i understood it, for the time the payment stays on his record it would be pretty severe...but i could be wrong of course.

redordeadtom

chattychappy wrote: »

On the other hand, a single late payment isn't really going to wreck his rating.

Depends how late is late. Upto 30 days and it won't be reported?

izools

Curt. wrote: »

But make sure they ammend any missed payment mark too, otherwise the goodwill gesture is worth nothing - what is £12.00/a few pounds of interest compared to a permanent mark on his credit file?? If any record has been made, that is...

And if a DD was set up, what date would it have been taken? 7th June.

I think this should be the basis for OP's argument and case - the payment was made on, and cleared on, the same date that a Direct Debit would have cleared on, but the DD wouldn't have been deemed to have been early or late.

Good luck OP

YorkshireBoy

izools wrote: »

And if a DD was set up, what date would it have been taken? 7th June.

It would have been taken on the 25th June (the 7th June was the statement date ).

chattychappy

Curt. wrote: »

Case could be significant in what sense?
.

I meant in the OP's situation it's more than £12/a few pounds of interest because as I understand it they were offering to re-instate the BT offer that he'd just started if he agreed to pay the £12/interest they've already charged him. Since he has £9000 at 0% until May 2011, if the offer is cancelled and he hasn't got another one, that could be over £1000 interest at 15% APR.

So I agree the offer to cancel the £12/interest already charged isn't huge, but the offer to reinstate the offer if he pays those charges is a valuable offer, IMHO.

Curt. wrote: »

In regards to the late payment, as i understood it, for the time the payment stays on his record it would be pretty severe...but i could be wrong of course.

redordeadtom wrote: »

Depends how late is late. Upto 30 days and it won't be reported?

I'm assuming in the timescales given, it might well be reported. Perhaps these days a single reported missed payment is a problem. A friend of mine misses a payment about every 6 months because he is so disorganised. Also gets cash out on his credit card because he's forgotten the PIN for his debit card and "can't be bothered" do get it re-advised. But he seems to have no problem getting a new phone card or occasional new credit card. So I don't think the odd late payment is a problem if that's all that is wrong, it's too normal. In the OP's case, if he continues with the deal until May 2011 and doesn't need new credit until then, I don't think the late payment will be a problem.

izools

YorkshireBoy wrote: »

It would have been taken on the 25th June (the 7th June was the statement date ).

Ooooooh. I misread. Damn - there I was thinking we had them by the danglies