Credit Card Late Payment????

beebop23

HIya

I was hoping someone could maybe help me understand credit card billing.

My partner has a credit card and has never ever missed a payment - he gets paid weekly and religiously pays in money to the card. However they are saying he has a late payment- has been hit with a charge and creditlimit revoked.

His billing cycle runs from 6th-6th of each month and payment usually due at the end of the month. so his last statement was 6th dec-6 jan £60 min payment due paid on 31st January - he paid £240 in january. The statement prior was due paid by 2nd January which he also made minimum payment. The next statement isnt due paid until 3rd March which i assume covers cycle period 6th jan-6 feb and he has already paid £25 and was going to pay £60 today to cover the minimum payment

I am not sure how he has been charged and the CC company wasn't very helpful this morning.

We would really like any help with this.

Regards

Caz3121

you can sometimes receive a late/missed payment charge if you pay the bill too early.
For the payment to count it need to be made in the period after the statement is produced and before due date. If he made the payment before receiving the statement then it would have counted towards the previous month's bill

Herbalus

beebop23 wrote: »

His billing cycle runs from 6th-6th of each month and payment usually due at the end of the month. so his last statement was 6th dec-6 jan £60 min payment due paid on 31st January - he paid £240 in january. The statement prior was due paid by 2nd January which he also made minimum payment. The next statement isnt due paid until 3rd March which i assume covers cycle period 6th jan-6 feb and he has already paid £25 and was going to pay £60 today to cover the minimum payment

A little more clarity here would be useful. So his statement was on 6th Jan - is this the period he got the late payment charge for? What was the total amount on the statement?

Importantly, when was this £240 paid, and how?

beebop23

Thanks although I still don't get why there is a late payment. I need to look at the statements more closely and look at thebilling dates and payments he has made. I think this is the problem which is a shame becaue he has always paid and pays regularly. Don't get me wrong we will need to manage without the card but it was good security blanket. We are more concerned about his credit rating and the charges and I just wanted to understand the billing cycle a bit better.

beebop23

Herbalus wrote: »

A little more clarity here would be useful. So his statement was on 6th Jan - is this the period he got the late payment charge for? What was the total amount on the statement?

Importantly, when was this £240 paid, and how?

The statement was the 6th January and the current one is the 8th Feb. he paid the £240 over a couple of weeks. I am not sure exactly the dates. Iwill check once he comes back from work. I think it was after the 6th January though. On the statement received for 8th Feb it says late payment fee so I assume this was for the 6th Jan statement.

Thanks

Aquamania

beebop23 wrote: »

HIya

I was hoping someone could maybe help me understand credit card billing.

My partner has a credit card and has never ever missed a payment - he gets paid weekly and religiously pays in money to the card. However they are saying he has a late payment- has been hit with a charge and creditlimit revoked.

His billing cycle runs from 6th-6th of each month and payment usually due at the end of the month. so his last statement was 6th dec-6 jan £60 min payment due paid on 31st January - he paid £240 in january. The statement prior was due paid by 2nd January which he also made minimum payment. The next statement isnt due paid until 3rd March which i assume covers cycle period 6th jan-6 feb and he has already paid £25 and was going to pay £60 today to cover the minimum payment

I am not sure how he has been charged and the CC company wasn't very helpful this morning.

We would really like any help with this.

Regards

I can only advise based on the information you have given, but if he really "has never ever missed a payment" I don't know why he has a late payment charge.

I would suggest he contacts his credit card company asap for an explanation.

Once he has done this, please feel free again to post if he needs further advice

beebop23

I really apprecaiate the help - Im the one with the bad credit so i cant really help but trying to understand credit cards is a minefield. It just doesnt seem right so I am going to get his statements and go through them comparing payments to payement billing cycles and payment dates. See if we can work it out. I don't think the bank has it wrong but i just want to understand how it works and try to avoid it in future. Seeting up the Direct debit for the minimum payment is something we will need to arrange to try and avoid problems in future but its more convenient to pay weekly. ah well. Lessons learned i guess.

Leonhard

Usually the bank wouldn't make a mistake for the system may have run for many years...why not connect the bank account to the credit card so it pay automatically?

Herbalus

beebop23 wrote: »

The statement was the 6th January and the current one is the 8th Feb. he paid the £240 over a couple of weeks. I am not sure exactly the dates. Iwill check once he comes back from work. I think it was after the 6th January though. On the statement received for 8th Feb it says late payment fee so I assume this was for the 6th Jan statement.

Thanks

If you have the February statement it will say on there, as that will have a list of all transactions from 6 January to 8 Feb.

Essentially, you need to look at the 6 Jan statement to know how much the minimum payment is and when it was due by, and look at the 8 Feb statement to see whether this amount was paid by the due date in January. If that's the case then the bank has made a mistake.