i've been stupid,anything i can do?

pope_acute

ok opened up mbna credit card last jan 2014. long 0% balance as recommended at the time by mse email. i've been making the minimum payment every month haven't missed a payment. So i never though to check. I was trying to clear £10k of debt.(house and wedding), i knew the payment was being made so i never checked.

But today i did and noticed i have been late with every payment, they expected payment on 20th and i've been making the payment as soon as i got paid monthly 28th,29th,30th each month. So i have been getting charged for late payment and charged interest for the amount as well. So i tallied it up £1700 in interest or there abouts and £144 in late payment fees?

i know it's my fault but is there anything i can do?:(

Candyapple

Why has it taken almost 15 months for you to notice your error? :think:

Why did you not set up a direct debit for the minimum payment?

Perhaps give them a call and see if they would reduce the charges/fees as a gesture of goodwill, however for the amount of time that has passed, I think you might just be left to suck it up and pay and learn a lesson from this going forward to always set up a DD to avoid this eventuality from happening again.

MisterBaxter

Did they not contact you at any point to ask why you were always paying late and to notify you of the charges? I would have thought that they would have written or called to inform you of the issue. Don't they have to notify you of charges they are applying to the account.

Caz3121

MisterBaxter wrote: »

Did they not contact you at any point to ask why you were always paying late and to notify you of the charges? I would have thought that they would have written or called to inform you of the issue. Don't they have to notify you of charges they are applying to the account.

I would expect that this would all have been on the monthly statements that would have either been sent or available online to view/print etc. The issue is that the OP thought everything was fine and did not look at the statements for 15 months

pope_acute

waiting on a call from a manager over the next 48hrs. A goodwill gesture is what i'm hoping for but it' s unlikely i know...
statements are online, but not once did i get a email stating charges are being applied like i do get with other cards and banks. If i got that i would have noticed a lot quicker. As i'm only paying it off and not spending on it i never looked at the statements....until now.

[Deleted User]

The damage will be twofold - the charges, and the impact to your credit file.

You've done the wise thing by admitting it's your fault, rather than trying to blame MBNA. The best advice I can give is to play nice with them, admit your error, and ask for a way to work together going forward to resolve the issue.

It's unlikely that they'll make changes to your credit file (after all, it's factually correct), but there is a chance that they may be lenient on charges.

Best of luck.

Semple

Yeah i think you can only hope for some form of goodwill gesture here. As MBNA will just say the onus is on you to check your monthly statements.

Hope you get something sorted.

David301

OOOOFFF!!! Thats a nasty oversight!!

You will be at their mercy, 1 month they usually wipe the charge as a mistake but you are asking for over a years worth of mistakes. If you pay online and access your account that way i imagine it will be pretty hard to convince them that you didn't see it!

On the other hand if you only look at the minimum repayment amount then pay what it states a few days after the due date their system would have no reason to notify you because it would see that the payment was made.

Was your minimum payment increasing each month?

JJ1974_2

What a nightmare, I've got real sympathy for you. One of my rarely-used credit cards is online statements only and I often go several months without logging in, relying on a minimum payment direct debit to cover it.


Really hope you get to speak to a sympathetic customer service rep and get a goodwill gesture - worth explaining (as you have in your OP) that it was a genuine oversight and you were making the minimum payments in good faith.

pope_acute

David301 wrote: »

OOOOFFF!!! Thats a nasty oversight!!

Was your minimum payment increasing each month?

looking at it now it was fluctuating up and down each month £232, £224, £235, £227..etc

stator

Does the 14 day notification apply to credit cards, or will a message on the credit card statement suffice?