Credit card balance from emergency replacement account

Hevans_2

When I was abroad in September 2011 I lost my credit card and was issued an amergeny replacement with natwest. I received a letter today from the credit card company to say that it has just come to their attention that they forgot to transfer the £502.05 used to my origional credit card and have therefore now charged it nearly 2 years later. As a way of apology they have given 12 months interest free. Are they able to do this after such a long length of time? Any feedback would be appreciated.

Dirk_Gently_2

2 years isn't very long in financial/banking terms - statute of limitations on debts is 6 years.

So I think they're perfectly within their rights - and probably didn't need to make the gesture of giving you an extra year's free interest on this debt in addition to the 2 you've already had.

Did you not know this existed when the card was transferred? What did you think had happened to it?

Hevans_2

Thanks for your reply. I didn't want to dispute it with them without asking for advise first.

I lost the card towards the end of travelling and settled the origional card in full once I returned. I had presumed that it had been credited to the origional account which is what the bank advised me would happen when I requested an emergency replacement.

New lesson learnt - don't presume and always check the statements.

grumbler

Hevans wrote: »

I ... settled the origional card in full ...

New lesson learnt - ...always check the statements.

How could you have settled it without checking the statement?

Hevans_2

I called them and asked for the final balance and paid with debit card!

grumbler

It is absolutely unclear then where £502 come from. Are you sure that you do owe this money?

Dirk_Gently_2

From the OP, I'm presuming that was the balance on the old card when lost, and the replacement card started with a zero balance and a different account number, so the debt on the lost card has been lying dormant for 2 years and now been found.

dalesrider

Strange as its a automatic process when a card is reported lost it opens the new account and then transfers the balance over.

If I was the Op I would be asking for statements from both the old card and also the new covering the period. Just to prove that the balance was not transferred over.

Hevans_2

Thanks for all your advice .

I'll contact Natwest tomorrow any request the statements of the original and the emergency account.

izools

Indeed.

They're probably right that you owe the £502 but there's always the chance that you did indeed pay it back and there's been an administrative error on their part.

Unlikely but worth checking the statements