New Luma credit card ?

lisyloo

these are a absolute joke of a company charging intrest when you have paid the remaining balance ( beware )

Are you sure this isn't residual interest?
i.e. interest that occured between your last statement and you paying it off?
If you had an interest bearing balance then it will still acrrue interest AFTER you statement. Luma (or any other company) cannot tell you this in advance because they don't know when you are going to pay and hence how much interest there is.
Be careful making allegations if you might be wrong.

molerat

Did you pay the full statement off for 2 consecutive months, you were probably carrying a balance so there would be residual interest charged from statement date to payment date. The same would apply to any credit card.

drinkduffbeers

Well it looks like I've climbed into bed with the devil

I received my first ever mailing from those parasites at Wonga today

Coincidence?

lisyloo

Well it looks like I've climbed into bed with the devil

Complete overeaction to one email/snail mail.
You don't have to pay anthing at all to Luma - zero, nada, zilch
No-one is holding a gun to your head.

Atidi

Anth121 wrote: »

these are a absolute joke of a company charging intrest when you have paid the remaining balance ( beware )

You dug up this thread that was first started over 12 months ago to post this?

Well I did post in the more recent thread about the Luma cashback card that the card is operated by Capital One.

(Edit: Actually I see the OP of this thread also said it's from Capital One)

I'm not saying they are bad (multi millionaire Dr Lewis often recommends Capital One) but their target market is usually the poor creditworthy. I know at one time Cap1 even offered a card to those with such a bad credit history that there was no interest free period (i.e. you got charged interest even if you always paid the bill IN FULL and ontime every month. Not sure if they still do that one.

Lets just say for me it's a case of once bitten, twice shy.

They ventured into a different target market at one time (trying to attract those with good credit history, I think it was with a Platinum card) and I think that was their mistake. I know it's not offered today, so perhaps they've learnt from that mistake.

And at the time they were not signed up to the Financial Ombudsman Scheme, so the FOS were no help either.

Only the real threat of legal action against Cap1 got someone in their Ivory Towers to see sense.

drinkduffbeers

lisyloo wrote: »

Complete overeaction to one email/snail mail.
You don't have to pay anthing at all to Luma - zero, nada, zilch
No-one is holding a gun to your head.

Talking of overeactions

lisyloo

Talking of overeactions

Why is it an over-reaction.
I haven't claimed anyone is the devil.

What I have said is completely factual.

spinningsheep

Well after a 2 week wait I received the "computer says no" letter....yet in the same post was a letter from Aqua increasing my limit to £1900......oh well, no cashback for me

[Deleted User]

I do wonder if Luma will raise limits above the maximum £1500 in time, or whether that'll be the standard for life.

sirwiggum

My defaults recently fell off my credit report, though Luma still have me on a 500 limit.

Might look in the new year if I can get a higher card. Occasional business expenses mean travelling - several hundred pound flight plus a few hundred on hotels, eating etc.