MBNA (AA) credit card sleight of hand

bengal-stripe

prowla wrote: »

Ah - that is my mistake........but I interpreted that......

That's your problem! Everything gets interpreted to suit your (erroneous) perceptions.

redpete

prowla wrote: »

Ah - that is my mistake; it does say refund, but I interpreted that as repayments. I have no idea what a refund would have to do with the context of this topic.

Because, using your example dates, even if a refund between the 9th and 27th had brought the balance to zero I would still have to make a payment equal to or greater than the minimum payment to avoid charges. This is, IMNSHO, wrong even though in accordance with the rules, whereas your situation is unfortunate but a legitimate and understandable application of the rules by the CC company.

YorkshireBoy

prowla wrote: »

The point was and remains that the published T&Cs do not cover the situation where a payment is made before that month's staement is issued

That's because such a 'coverage' would be pointless.

At the risk of repeating what has already been said:

You get a statement
It tells you how much to pay and by when
You pay it

You then sit back and wait for the next statement to come
It will then tell you how much to pay and when

In doing the above you have met your contractual obligations. If you want to pay any more, then that's up to you. The benefit of doing so, as has already been explained to you, is that for a revolving balance your interest charges on the next statement will be reduced.

They do tell you that you can pay what you like when you like (as additional payments) and that these will reduce your balance. However, the fact remains that each and every month you must make the payment shown on your statement by its respective payment due date.

prowla

YorkshireBoy wrote: »

Let me try and explain.

People are showing little sympathy for your plight because, despite everyone telling you how things are, and some of us even quoting T&Cs, you still won't accept you're wrong and/or misunderstood/misread your account T&Cs...preferring instead to rely on your own (mis)interpretation of the T&Cs applying to your account.

'redpete' was saying that he would have had some sympathy if you had, what he would call, a genuine grievance.

Nobody has quoted the T&Cs that cover this.

The T&Cs do not state what happens when a payment is made after one bill's due by date and before the next bill is issued. Can you show me where it covers that, so that I will have something to accept?

The T&Cs do state that a payment must be made each month, but they do not state that it must be after that month's bill is issued. Can you show me where it states that?

YorkshireBoy wrote: »

That's because such a 'coverage' would be pointless.

At the risk of repeating what has already been said:

You get a statement
It tells you how much to pay and by when
You pay it

You then sit back and wait for the next statement to come
It will then tell you how much to pay and when

In doing the above you have met your contractual obligations. If you want to pay any more, then that's up to you. The benefit of doing so, as has already been explained to you, is that for a revolving balance your interest charges on the next statement will be reduced.

They do tell you that you can pay what you like when you like (as additional payments) and that these will reduce your balance. However, the fact remains that each and every month you must make the payment shown on your statement by its respective payment due date.

It would not be pointless, and I have made payments in the month by the due by date. However, the CC company chooses to silently define "month" as the period between the day after the bill is issued and the day before the due date.

YorkshireBoy

prowla wrote: »

Nobody has quoted the T&Cs that cover this.

The T&Cs do not state what hapopens when a payment is made after one bill's due by date and before the next bill is issued. Can you show me where it covers that, so that I will have something to accept?

The T&Cs do state that a payment must be made each month, but they do not state that it must be after that month's bill is issued. Can you show me where it states that?

You've already posted the relevant conditions earlier in the thread (maybe page 3 or 4?).

They rely on correct interpretation though, ie

You must make a payment after the statement is produced by the date shown, and

Anything else paid will act to reduce the balance, not be taken as a pre-payment for the next statement...whenever it may be produced.

prowla

redpete wrote: »

Because, using your example dates, even if a refund between the 9th and 27th had brought the balance to zero I would still have to make a payment equal to or greater than the minimum payment to avoid charges. This is, IMNSHO, wrong even though in accordance with the rules, whereas your situation is unfortunate but a legitimate and understandable application of the rules by the CC company.

Thanks for the clarification; as I said, I mis-read your reply as referring to a repayment (because that is the context of the thread), so hopefully we can set that to one side.

(Actually the T&Cs cover that specific situation anyway: "If you receive a refund or credit to your account after your statement date, you must still pay at least the minimum payment that we have asked for.".)

prowla

YorkshireBoy wrote: »

You've already posted the relevant conditions earlier in the thread (maybe page 3 or 4?).

They rely on correct interpretation though, ie

You must make a payment after the statement is produced by the date shown, and

Anything else paid will act to reduce the balance, not be taken as a pre-payment for the next statement...whenever it may be produced.

The quoted T&Cs do not say that - you are adding words that are not there.

The quoted terms actually say that they will tell you how much you must pay in that month "We will show the amount you have to pay, the date by which you must make the payment and how you can pay, on your statement." and they tell you that you must pay it by a given date "You must pay at least the minimum payment each month and this must reach your account by the payment
due date.".

They do not say that you cannot make that month's payment the day before the bill is issued, and actually doing so fully meets all criteria stated in the T&Cs.

meer53

Why do you need to see t & c's ?

The card issuer isn't saying that you can't make any payments between statement dates. You bill states the payment amount and the date you should pay, stick to that and you won't have any problems.

You made a mistake but seem to want to blame the card issuer.

YorkshireBoy

prowla wrote: »

The quoted T&Cs do not say that - you are adding words that are not there.

I prefer to think I'm interpreting them correctly.

They do not say that you cannot make that month's payment the day before the bill is issued...

They don't need to!

They say you make the payment after the "bill" is issued. You won't know how much you have to pay until you get the "bill".

prowla

meer53 wrote: »

Why do you need to see t & c's ?

The card issuer isn't saying that you can't make any payments between statement dates. You bill states the payment amount and the date you should pay, stick to that and you won't have any problems.

You made a mistake but seem to want to blame the card issuer.

It is a financial contract, not a chat between mates, and the card issuer did not state the relevant conditions up front. I made payments that met their stated criteria and they chose to penalise me for it, according to ad-hoc unpublished subtleties.

(As I mentioned, I don't have to stick to anything any more, as I don't owe them any money.)