Have I lost my 0%?

Rav3n

Hi everyone,

A while ago I noticed that my bank (RBS) was offering a credit card with 0% on purchases. I applied, got the card and then left it in my wallet unused. The plan was to use it to buy my car insurance next month when it is due. A friend pointed out to me that my insurance company is charging me 29.9% interest to pay monthly!

Last month I got some petrol and found that I had left my debit card at home so I used this credit card to pay for it with the intention that I would pay it back as soon as I got home.

I completely forgot about it and remembered when I was making payments to various accounts yesterday. I had been hit with a £12 late payment charge. I paid the card off and called RBS to see if I still had 0%.

The man on the phone said that the 0% would be cancelled. I explained my situation and said that I was planning to make a large purchase next month with the card, which I wouldn't do if the 0% was cancelled. He said he would appeal and I would be able to see if I still had the 0% offer next month on my statement.

Will I easily be able to get the 0% offer back or should I try and get another 0% card before my car insurance is due?

[Deleted User]

Phone again, apologise, grovel, set up a DD and see if they relent. But be prepared for the fact they may not.

gglaze

In the past card companies were more lenient about this kind of stuff, and willing to give some goodwill/benefit of the doubt if you explained the situation nicely. Recently in the last couple of years, my experience has been that companies have become more ruthless about sticking to the rules, and no amount of groveling/threats can get your precious 0% rate back after a simple misstep like this.

But as some on this forum will tell you, that's their right. You agreed to their rules and broke them, so why shouldn't they follow through?

Good luck though!

YorkshireBoy

Rav3n wrote: »

A while ago

This may work against you. Card companies are more lenient if you miss the first payment on a newly set up card. MBNA are known to extend this leniency to 3 months according to reports on this board.

A friend pointed out to me that my insurance company is charging me 29.9% interest to pay monthly!

Surely you already knew this when taking out the policy?

I completely forgot about it

If you're prone to not checking your online accounts and/or e-mails regularly you need to opt out of paperless billing and get a paper statement posted each month.

He said he would appeal and I would be able to see if I still had the 0% offer next month on my statement.

I think he was fobbing you off. You should be able to find out there and then whether you've lost the rate or not. Call them back again.

...should I try and get another 0% card before my car insurance is due?

Depends on their answer next time you call them. Call them now, and if you get the answer you want take their name and extension number and make a note of the date and time of your call just in case.

SCO

Phone them and tell them if you dont get the 0% back you want to close the card you will know then if they want your custom.