Do you agree with reclaiming CC charges?

ictmad

Fungas wrote:

Fine if your payment is lower than £100; not relevant if your payment is above £100. If your payment is for £101 and you're at 0, then you'll go over your overdraft limit and, in my bank, get stung for £30 even if a) it's over a weekend, b) you could do nothing to stop the payment going out, even though it was early.

In my mind, the direct debitting system has been a license for banks to print money; no wonder they want everyone paying by direct debit, and no wonder they have financial interests in utility companies. More defaulting direct debitors that they can prey upon.

well then u should either make sure u alaways have a overdraft ,more thna £100 just incase or make sure u have enough cash,why if u knew u had say £125 coming out wuold u have no money at all in ur account?? that seems like very,very poor financial sense to me

Fungas

ictmad wrote:

well then u should either make sure u alaways have a overdraft ,more thna £100 just incase or make sure u have enough cash,why if u knew u had say £125 coming out wuold u have no money at all in ur account?? that seems like very,very poor financial sense to me

As I explained, the money was due out on the Monday after a weekend. (I didn't explain that my wages were due on the Monday too). The money was actually taken on the Friday prior to the weekend. Basically, under the direct debit scheme, any payee can take anything out of your account at any time - and sometimes do.

Also, always making sure you;ve got an overdraft is half the reason why people go into further debt; they start with a small OD that gradually grows over a period of time. One of the reasons for needing an OD is to cover excessive bank charges! Getting stung for £90 in one month because one charge affected another and another is not funny, but more importantly, not legal.

bengal-stripe

Fungas wrote:

One of the reasons for needing an OD is to cover excessive bank charges! Getting stung for £90 in one month because one charge affected another and another is not funny, but more importantly, not legal.

I thought this thread was about credit cards, not current accounts. It’s the nature of the beast, every CC comes with a pot of credit attached to it. Only once you’ve spent that lot, you’ll come into trouble with late payments, or going over the limit. You’ve already had a good time spending all that dosh. Nobody has forced you, to apply for the card in the first place.

Yes, the banks are partly to blame, by lowering the required minimum payment to those ridiculously small percentages. When I had my first card (limit £ 200) in the late 70s, if I remember correctly, the minimum payment was 25% of the outstanding balance.

MPH80

Thank you Bengal-Stripe. I'd even allowed myself to be dragged off topic here onto C/A charges.

When we're dealing with credit card charges - we're talking about two situations which can cause a charge:

1. You pay late
2. You go over your limit

So let's deal with number 1 ... well ... setting up a direct debit sorts that.

Number 2 ... well ... let's see ... you are spending more than your limit in any given month ... I think it's time you spent £1 of that limit on a little notebook and pencil so that you can track your spending.

It's not rocket science.

M.

lewt

i think its great getting them back, all of them. how many times a bank took all the weeks money when i was a student and left me eith nothing and showed no mercy. i will do the same when i get offers of half and so on. if they had a legal limit to them in the first place then people wouldnt be able to claim them back now. with interest. the person who said anyone who is claiming back more than 250 would be blacklisted if it was her bank needs to get down fron the high horse i think. people can change as i have and lead a long and fruitfull relationship with the bank. but people have rights too. i have a choice to pay my bills when they come with bank charges they take them coz they controll the money. and thats not fair. i wondered why a particular bank let me off 225£ when i said i didnt have it and they would have to take me to court. now i now they were asking for money ilegaly.

tom188

ilegaly

This is misspelled and incorrect. The argument that people are using involves the size of charges being unlawful not illegal.

ictmad

Fungas wrote:

As I explained, the money was due out on the Monday after a weekend. (I didn't explain that my wages were due on the Monday too). The money was actually taken on the Friday prior to the weekend. Basically, under the direct debit scheme, any payee can take anything out of your account at any time - and sometimes do.

Also, always making sure you;ve got an overdraft is half the reason why people go into further debt; they start with a small OD that gradually grows over a period of time. One of the reasons for needing an OD is to cover excessive bank charges! Getting stung for £90 in one month because one charge affected another and another is not funny, but more importantly, not legal.

strangley enough i have a overdraft and never use it or get charged,just have it incase of emergency,maybe iam just careful with money