Victory!

pearsonow

Hi all,

I rely on my banks online system for my credit card statements as I am away from home a lot. I had a DD set up but my bank cancelled this in error, and I never got round to resetting it.

As a result of this I missed a statement having been sent and therefore got a late payment fee and entry on my credit record.

The following month I paid the amount shown on the online system as the min payment. Checking this month I noticed I had been charged again, and an entry had gone onto my credit report.

I contact the CC phoneline and made a complaint - I had paid the amount they wanted!

They apologised, checked and realised while the paper statement shows the correct amount, the online system doesn't! The online system assumes you haven't missed a previous payment and calculates the minimum amount on this basis!

I was refunded my fee and had the second entry removed from my credit file as a bank error.

If in doubt then fight it!

jonesMUFCforever

You might see it as a Victory but who is getting interest and charges from you as you are paying the minimum every month?

pearsonow

Indeed, I do see it as a victory. I managed to get a fee and entry placed on my accounts/files removed as it was a bank error.

Regards the minimum payments I tend to make these when I am away on Duty and unable to get full access to my accounts. This keeps my credit file happy and avoids fees.

When I have full access to my accounts I will pay a significantly larger amount off depending on circumstances - for example last month I paid the mionimum amount as my car insurance was due which swallowed up most of my spare cash. This month however I have paid significantly more of my balance off.

And I forgot to say this card is interest free

YorkshireBoy

pearsonow wrote: »

I managed to get a fee and entry placed on my accounts/files removed as it was a bank error.

Have you verified this by viewing your credit reference agency files (all 3 of them), or have you just taken them at their word?

for example last month I paid the mionimum amount as my car insurance was due which swallowed up most of my spare cash.

If you're unable to 'pay up front' with savings, 0% on purchases cards are ideal for things such as car insurance. Maybe next year?

pearsonow

1) I have verified on my credit files.


2) I paid with my 'spare funds' i.e. the stuff not already allocated to other things, but this meant I have only made a min payment on my card. either way interest is the same i.e. 0%