Credit card penalties

Sparky101_2

Hi,

New here....

I have a Virgin Credit Card with x months interest free on balance transfers that is due to finish in Apr 2011.
I regularly make payments around the 20th of each month when I get paid. I have just noticed that they (Virgin) have charged me for a late payment and reinstated the interest charges on the account.
Looking back I have made all of the payments.
Spoke to Virgin and they state that I made the payment too early. i.e. I paid on 20/10/2010 and they requested the money on 21/10/2010.
I have not kept the email payment request to prove otherwise.
I do have the requests for Nov and Dec which were requested on 18th and 20th respectively.
I do not read the emails regularly and just pay around the 20th of each month. All it states on the statements is that payment has to be made by a certain date, usually around the 08th / 09th of the month. I am clearly well inside this.
I have previously made an error in payment, because of the time it takes for an electronic transfer, I was a day late in payment. They "forgave me" and I changed the payment date to a few days later to cover me. Because of this error they are refusing to be flexible here.

Any advice would be very welcome...
many thanks
Andy

molerat

Payment is due between statement date and due date. This is the same with all credit cards. Any payment made before the statement is a payment against last month's statement. You have broken the t&c's of the account and it is not the first time so they are unlikely to be helpful. Not reading the e-mails and statements is not a good idea. Ideally you need a DD set up for minimum payment so that you do not miss, a fixed payment date when statements are variable always ends in tears.

bengal-stripe

If the payment is booked before the statement is compiled, that payment will appear in the previous month as an additional payment.
How is the bank supposed to know that the second payment in November was supposed to be the December payment? It is very clear on the statement, November’s statement will show two payments that month, and if no more payment arrives before the ‘Payment due’ date in December, than you have failed the December payment.

Why don’t you check your statements? You would have instantly seen there is a problem.

Phone the CC, they might (or they might not) re-instate that no-interest promotion.

Sparky101_2

Thanks for the above. I have checked my statement. The staement date is the 20/10/2010 and the payment date is 20/10/2010 ???

What do you think ????

danothy

On my card transactions occurring on the statement date are included in the statement (as it's draw up for the end of play that day), so if I were to pay on the same day it would be an interim payment. If this statement procedure applies to you then you have unfortunately missed a payment due to this technicality.

I feel for you and agree with the advice others have given, try to appeal to Virgin and demonstrate that it was intended to be a payment for the subsequent period. Also be careful in future to pay after you actually get the statement and before the due date.

Good luck.

YorkshireBoy

Sparky101 wrote: »

I have checked my statement. The staement date is the 20/10/2010 and the payment date is 20/10/2010 ???

Credits are applied to the account at the start of the day (00:01), and debits are applied to the account at the end of the day (23:59).

What do you think ????

Try customer retentions/loyalty on 0800 783 1116 during office hours. They may be more lenient (although possibly not, with it being your second transgression) if you ask to set up a direct debit there and then.