Late payment charge, is this correct?

izools

oliveoil99 wrote: »

Well I contacted my provider they would not move company policy and all that. Cost me another £6 on the phone call as I only have pay as you go mobile and those minutes soon add up. In future will always make sure I pay it at the beginning of the week and not a Thursday. Thanks all.

I understand having paid this way for 20 years you feel comfortable doing it this way, and it's what you're familiar with, but the times have changed and it's really time to consider a more reliable form of payment.

If you clear the balance in full each month, call your credit card provider and ask them to set up a direct debit against your bank account to take the full amount each month.

If you don't clear it in full, ask them to set up a direct debit for the minimum payment each month, and pay extra as and when you see fit, either by cash if that's what you're comfortable with or via your online banking which is more reliable and faster, not to mention much less time consuming...

bigadaj

No matter who you are it now seems essential to set up a direct debit for the minimum payment. This not only saves a late payment fee but also a marker on your credit file which is more important for most.

oliveoil99

Wheres_My_Cashback wrote: »

FP/cash payments over the counter/debit card payments over the phone are all as quick as each other...............depending on the card company.

OP, what's the card company and how exactly did you pay ?

PO Card/Lloyds pay in cash at a PO/lloyds branch and the account is marked as paid immediately.
AMEX/Mint pay over the phone with a debit card and it's marked as paid immediately.

Loads of cards except FP's too.

In ALL cases accounts are marked as paid immediately so you can pay on the due date without fear of being late. However, you're account transactions will not be updated for 2-3 days.

Mbna, and paid by cash at the Co-op bank.

ICHAPMAN

stephane wrote: »

If the credit card provider accept Faster Payments then it will be credited on the same day...but might take an extra day to appear on your credit card account.

Not exactly true. MBNA (for example) state that even with a Faster Payment, it must be received by 4pm for it to be credit to your account on the same day. After 4pm it will be by 10am on the next business day.

Iain

Wheres_My_Cashback

oliveoil99 wrote: »

Mbna, and paid by cash at the Co-op bank.

There's your answer. You've used a non-connected 3rd party to make the payment. This is why card companies sometimes require up to 5 days to process payments.

If you'd paid via your online banking before 4pm direct to MBNA it would have gone via FP and been credited that day.

There are numerous ways to avoid charges. The safest and most reliable is DD, but i know that doesn't suit everyone.