Interest charges on closed account

Delree

The word assume is being used a lot here. Always trouble with this word.

eskbanker

Surely if the DD was set up to collect the minimum payment only then it wouldn't have taken care of the entire balance of £14 anyway?

molerat

eskbanker wrote: »

Surely if the DD was set up to collect the minimum payment only then it wouldn't have taken care of the entire balance of £14 anyway?

Why not, MBNA minimum is

1% of your borrowing plus the range of other factors that make up your monthly credit card bill (for example, interest, card (i.e. annual) fees and late, overlimit or other default charges)

StuC75

Most accounts have a 'minimum amount' which is made up of interest plus X % to ensure the balance does get clear..

Its more likely that the payments were made outside of the Statement and DD Timings, and maybe the handler put a stop on that months DD from claiming..

Following which the trailing interest was applied. The handler wouldn't have really given a settlement figure but only confirmed the balance at that time.

eskbanker wrote: »

Surely if the DD was set up to collect the minimum payment only then it wouldn't have taken care of the entire balance of £14 anyway?

Jensmile1

Update

Just received the call back from a ?manager who immediately apologised for the poor management and incorrect information back in December, he said the possibility of a future charge for trailing interest should have been properly explained to me and I should never have been given a refund before that charge was applied. He has scrapped all charges and assured me the account is CLOSED :j:T

What a difference from the horrid unhelpful guy on the phone yesterday, I'm so glad I asked to speak to someone more senior rather than just paying up without question.

Herbalus

Jensmile1, the change of username makes me curious. What happened?

Jensmile1

I joined yesterday and after I posted I logged out, but the site would not allow me to log in again with jensmile saying my password was incorrect, so I asked for a password reminder and it said my email was not recognised? Even tho I had just received an email to the same address with the set up link that day? So I went back to the start/join up page and made a new name, used the same password with the same email and that has been working? Lol

I retyped the email address about 5 times to make sure the spelling was correct but kept getting the same not recognised message.

Don't know what happened with the original log in....

chattychappy

People are a little too quick to push responsibility onto the cardholder in cases such as this. Ie they should have known that a DD wouldn't be taken if it didn't say so on the statement that they should have checked when they didn't (etc.)

The OP did a reasonable thing - phoned up saying they wanted to close the account and pay off what was due. They should be able to rely on the answer given, regardless of what was in the agreement.

Nice to see there was a good outcome.