Late payment by one day

joshuaasmith

Basically what happened was I paid my MBNA credit card late by one day. They charged me both a LATE FEE and interest.

I understand the LATE FEE although I have sent them a letter(taken from a website) to contest this as £12 is a disportionate amount for paying late by one day when they have sent me no letters/phone calls about the late payment etc.

I had a balance of £411.23 on the card and I pay it off in full every month, this month I just forget that one of the days before it was due was a weekend.

The interest that I was charged was £8.18 which seems ridiculous for being late one day. Is there anything I can do? I am normally good with my credit card, hence the paying it off every month(apart from this month)

jonesMUFCforever

They played by the rules you did not. You lose I'm afraid.
Why should they send you a letter in addition to a statement on the reverse which states what will happen if your payment is late or bounces?

Take responsibilty for your own shortcomings on this and learn from it.
Always have a D/D for the minimum payment.
You are not being charge for being one day late but on the outstanding balance for the month.

jonnyb

Joshua, at least you didn't use the word "illegal" in your post, like every other muppet that pays late and is surprised by the charges incurred.

Mr Jones is right - DD is the way forward.

fesdufun

Is is always worth ringing them and asking them to consider waivering the charge. It has worked for me in the past when a cheque got lost in the post. I now do as the other posters have suggested and use DD.

bengal-stripe

When MBNA reduced the penalty charges down to £12 (maybe 6 months ago)they also removed the days grace they used to give.

Until then, your payment was in time if it arrived no more than one day late.
Obviously, they acted according that old maxim: "What one loses on the roundabouts, one gains on the swings."

Phoenix79_2

If its a first offence then they may waive the fee. Ring up and be nice to them

Plus if you pay off your balance in full every month have you thought of a cashback credit card?

johnmoney05

joshuaasmith wrote:

The interest that I was charged was £8.18 which seems ridiculous for being late one day.

The interest they calculated on the basis from the day you spent that amount, not from the day you missed your payment. Try call them, although I don't give much hope for you. Sorry.

virgin_moneysaver

the #12 you paid is the figure recommended by the ombudsman, the charge has been reduced to this from around #25 which was deemed disproportionate so I don't hold out much hope, as previous posters states, its written on every statement the action they'll take for late payments. Unfortunately you're not the 1st (or the last) to leave it to the last minute to pay when you've had the statment for over 2 weeks - put it down to experience, set up a d/d & move on

wolvesinwales

bengal-stripe wrote:

When MBNA reduced the penalty charges down to £12 (maybe 6 months ago)they also removed the days grace they used to give.

Until then, your payment was in time if it arrived no more than one day late.
Obviously, they acted according that old maxim: "What one loses on the roundabouts, one gains on the swings."

That is very interesting because looking on their terms and conditions on their website it still states the following under the heading 'Why have i been charged a late fee' :

"As detailed in our terms and conditions, we may charge a fee each time a payment has not been credited on to your account, within one day after its due date "

I queried this with them after i got a hefty charge due to be a day late and having my interest free offer withdrawn, they claimed that the above statement means they will make a charge within a day which sounds like rubbish to me.

KidNeStonez

I have just been hit with a similar situation. On my Nat West credit card statement, they requested payment by 4th of Feb. I use internet banking to set up a payment when I receive my statement....and made the payment to go out on the 2nd of Feb. This morning I've now got a new statement with interest and charges because I failed to realise that the 4th was a Sunday! I've tried calling and they will not back down. I believe that Nat West are in the wrong for requesting payment by a weekend day. Do I have a case?

YorkshireBoy

KidNeStonez wrote:

Do I have a case?

No.

NatWest wanted payment BY 4th Feb. Despite your statement advising you to allow 4 or 5 days, you chose to send your payment on Friday 2nd Feb.

Just how on earth did you expect it to arrive on time?