WARNING: Sainsbury's Sting for Double Interest

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Having just received my Sainsbury's Visa statement today I was shocked to find that they had charged me 2 lots of interest! The second transaction was apparently for Interest Accrued in June 2010.

Now here is where the fun begins, because I natually phoned up Sainsbury's Bank to query this and asked why we did not get any sort of notification that this had happened. The responce was that as there was a comptuer failure in June, a lot of accounts did not get charged interest and are being done so retrospecitvely this statement. When I queried further stating that I have not been informed of this in advance I was told that they DON'T!

Now obviously you would think that Sainsbury's, knowing which accounts are affected, would at least post a letter explaining that due to..... etc etc. I hope nobody with a dicky ticker has a heart attack when they open their statement and see that they are being charged double the mount of interest all of a sudden (the first page you see of course being the summary.

Additionally, Sainsbury's have calculated the interest based on the previous balance from the last statement. Surely if there are extra costs during the previous month this will mean that they are stinging customers who have a higher balance this month that last?

So anyway If you have a Sainsbury's Statement and you see they have screwed you for 30-odd% interest this month... thats why!
Signaller, author, father, carer.

Comments

  • premierfella
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    You forgotten to mentioned the jubilation you felt previously when you were charged (I presume, based on your references to double interest) 0% interest on your June statement.*

    *But I agree that a letter from Sainsbury's Bank wouldn't have gone amiss in the circumstances you describe.
  • Dabooka
    Dabooka Posts: 839 Forumite
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    Did you ring up when you weren't charged in June? And it's not 30%, that's the APR, the actual monthly interest will be on the statement.

    But yes, I'd be cheesed off with no letter warning, but that would be mitigated if I didn't flag up teh problem in June. Incidently you could work out form June's statement the expected interest and see if it's more or less what they've charged you retrospectively. If you've paid some off since, you may find you're a couple of quid in....
  • TwistedPsycho
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    I think you have got the wrong end of the stick. I am not contesting the extra interest charges now I KNOW what has happened - I had not actually noticed the lack of interest previously. I posted more as a warning in case anyone else on here starts getting overly concerned at seeing to interest payments like I got.

    However the way that they have said "we are not liable for anything as a result, we will not say sorry, hell, we won't even let you know we knackered up" is hardly a professional approach.
    Signaller, author, father, carer.
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