am I being unreasonable?

233sqn

Hello folks

I have a Tesco credit card, I spend £2500-£3000 per monthevery month on it but always clear the balance in full so do not incur anyinterest. I have been a customer for about 10 years I guess.

However this month I screwed up and forgot to make the payment,I now see that I’m being charged £12 missed payment charge and £72 interest; fairenough I knew the rules.

However as I consider myself to be a pretty good customer I contactedthem and polity asked for a goodwill gesture, they agreed to waive the £12 but notthe £72 interest. I escalated it to a line manager who also refused. I explainedthat I felt hard done by and as result would take my business elsewhere, and assuch they would win the £72….. but loose the commission they make on my monthlyspend which would put them on a looser by month 2…. Not a very wise business decisionbut they wouldn’t budge.

I will write to their complaints department pointing thisout, but am I being unreasonable? Am I wasting my time?

BTW…. Anyone recommend a good reward card??

custardy

why do you think interest rates shouldnt apply to you?

spadoosh

You know your being unreasonable. However your perfectly entitled to do what you like so long as they get their £72.

Personally i do believe in loyalty when its appropriate and in this situation tesco would have given me no reason to feel hard done by. If theres something you think any other bank would have done differently to your benefit you should go with them.

sharpy2010

233sqn wrote: »

Hello folks

I have a Tesco credit card, I spend £2500-£3000 per monthevery month on it but always clear the balance in full so do not incur anyinterest. I have been a customer for about 10 years I guess.

However this month I screwed up and forgot to make the payment,I now see that I’m being charged £12 missed payment charge and £72 interest; fairenough I knew the rules.

However as I consider myself to be a pretty good customer I contactedthem and polity asked for a goodwill gesture, they agreed to waive the £12 but notthe £72 interest. I escalated it to a line manager who also refused. I explainedthat I felt hard done by and as result would take my business elsewhere, and assuch they would win the £72….. but loose the commission they make on my monthlyspend which would put them on a looser by month 2…. Not a very wise business decisionbut they wouldn’t budge.

I will write to their complaints department pointing thisout, but am I being unreasonable? Am I wasting my time?

BTW…. Anyone recommend a good reward card??

Yes, you are being unreasonable.

By way of example, how do they know that just because you've always paid the bill in full so far, that this month you aren't having a short month and just trying your luck.

You know you have the money to pay it, but they don't.

Interest rates apply to people who don't pay the bill on time, in full. By your own admission, you didn't do this.

So why shouldn't they apply interest? That is how the system works.

StuC75

Dont forget that next month will also have the trailing interest as well..

Sampong

You can't expect Tesco to waive the interest. Otherwise, anybody could phone up customer services and say "I forgot to pay the bill, cancel my interest thanks".

You agreed to the terms and it is your responsibility to make payments when due.

_Andy_

"I have been a customer for about 10 years I guess." - not relevant



"I felt hard done by" - you weren't.

"but loose" - lose, not loose

"I will write to their complaints department" - there is no complaint.

"but am I being unreasonable?" - Yes

"Am I wasting my time?" - Yes

Wobblydeb

I don't think you're being unreasonable - nothing ventured, nothing gained. You may be wasting your time however. If the policies and procedures manual doesn't allow the customer services team to write off the interest, then they won't do it.

However, don't allow it to become personal. They are free to conduct business however they like. Whether you choose to remain a customer is the one thing within your power.

I would recommend Capital One as a reward card. I tried AMEX but got sick of it not being accepted in places. Capital One pays me 1% cash back month in / month out. (And that is an old deal for existing customers that they continue to honour, even though it is better than the current offer).

spadoosh

Wobblydeb wrote: »

I don't think you're being unreasonable - nothing ventured, nothing gained. You may be wasting your time however. If the policies and procedures manual doesn't allow the customer services team to write off the interest, then they won't do it.

However, don't allow it to become personal. They are free to conduct business however they like. Whether you choose to remain a customer is the one thing within your power.

I would recommend Capital One as a reward card. I tried AMEX but got sick of it not being accepted in places. Capital One pays me 1% cash back month in / month out. (And that is an old deal for existing customers that they continue to honour, even though it is better than the current offer).

Bad attitude, businesses are their to offer a service/product and charge money for that service. Your suggesting a business should provide a service without being paid. how about you go to work and not get paid?!

This is where places like MSE hit rock bottom. Its not about consumer rights and consumer power, its about equality in business and retail. Paying a fair price for a fair product. Business benefit aswell as customer benefit. People like you scuff this up! When only one party gains you srcew up the system.

Please educate yourself on how business should work.

MT90

I thought interest/charges is how credit card companies made money? So for 10 years you have made them no money?

sharpy2010

MT90 wrote: »

I thought interest/charges is how credit card companies made money? So for 10 years you have made them no money?

The card company make a *small* percentage of the amount the customer spends, so he would have been making them *some* money, but not a huge amount.

Whether it would have been enough to offset the cost of the card company operating his account, is another matter.