Overlimit fee

SarahR77

Tixy wrote: »

Ah if its a new agreement then it definitely should - have a read of this article - The rules are new EU rules.

On that basis you would seen to have a good case for them refunding the charge - and rectifying your credit file if you wouldn't otherwise have gone over the limit.
Next months minimum payment looks right and calculated in a proper way - the £5 one would seem to be an error on their behalf.

Thank you for that. I will have a careful read of it. When I last spent I was under my limit. The November payment of £5 and the interest of £21.40 came out on the same day. It was the interest that put me over my limit as I was expecting the payment would cover the interest. I was stupid to be so close to my limit though but hopefully they will refund the charge.

SarahR77

c-m wrote: »

Best bet is just to call them and have them explain what is going on. Your minimum fee should cover the interest (and probably does). Interest is probably added at the end of the statement date, before payment is taken. So if say your limit is £120 (and you are at the limit) and APR is 10% then a month's interest of £1 added at the end of the month would take you over the limit until payment is collected.

That is what has most likely happened.

If you call and plead your case they might drop the charge this once.

I'm sure many will be along and tell you that you really shouldn't be using that card for spending at 35.95% - but really that's your decision

Thank you, the payment and the interest came out on the same day and there wouldn't be another payment until a month later. This is why I was confused as on other cards the payment always covers the interest for that month even if it was just the minimum. I know it is high interest card and will be aiming to pay off as soon.