Over my Limit by £3 + min pay increased?

Lith

Alright:

Was stunned to find this out today.... the credit card was pending payments on various things during the past week (thought they was all paid for by now)

Anyway logged into see my limit but 3 pound added to it.... saw my bank statement and it said min payment now 50 pound? it was 28 before... whats up with that?


anyway just paid like 50 towards it now the timescale was just 1 day well around 7 hours before i saw the extra 3 pound.




but i'm not sure whats gonna happen? why is the min payment 50 not 28 ? this a one off or what? i seriously doubt this will effect anything as the payment was fixed within several hours yeah?

Thoughts?


Cheers
Lith

20aday

I'd hazard a guess that your credit card company is charging you the minimum payment plus an over limit fee of £12.00.

If it's the first time you've gone over limit you could speak to them (nicely) and offer to reduce the balance to back under your credit limit and see if they'll waive the £12?

grumbler

Well, 28+12=40, not 50, but yes, fees and charges normally increase the minimum payment.
E.g. for Barclaycard:

The highest of:
1....
2. 2.5% of your main balance plus any purchase plan instalments due for that month
3. An amount equal to any interest, default fees or account maintenance fees that have been added to your account since your last statement, plus 1% of the rest of your main balance plus any purchase plan instalments due for that month

20aday

grumbler wrote: »

Well, 28+12=40, not 50, but yes, fees and charges normally increase the minimum payment.
E.g. for Barclaycard:

My bad. I can't catch a train on time (!) let alone work out the most basic of sums :rotfl:

Lith

20aday wrote: »

I'd hazard a guess that your credit card company is charging you the minimum payment plus an over limit fee of £12.00.

If it's the first time you've gone over limit you could speak to them (nicely) and offer to reduce the balance to back under your credit limit and see if they'll waive the £12?

Well i've never gone over the limit.... this is a one off, and it's 3 pound.


could be they charge me? i'll give em a bell tmr see whats up. but i've been paying of my card for a long time and min payment is always 28 now this time next month it will be 50 0_o? robbing b/\stards.

Cheers for the info/help guys

ViolaLass

Of course they could charge you, it's in the T&Cs. Up to you to ask nicely.

SnowTiger

Aren't credit card customers advised of charges on the following month's statement?

OP appears to be suggesting their statement minimum payment was for £28, but shot up to £50 by the time the payment was due.

However OP's message is a bit muddled.

Lith

SnowTiger wrote: »

Aren't credit card customers advised of charges on the following month's statement?

OP appears to be suggesting their statement minimum payment was for £28, but shot up to £50 by the time the payment was due.

However OP's message is a bit muddled.

My bad,

I'm saying it's been 28 for a LONG LONG TIME but now next month min payment is 50? 0_o

is this because of the 3 pound over the limit thing?

grumbler

Lith wrote: »

is this because of the 3 pound over the limit thing?

Is the statement not supposed to explain everything?
Is this not time to check it and the summary box at last?

Lith

grumbler wrote: »

Is the statement not supposed to explain everything?
Is this not time to check it and the summary box at last?

Checked, doesn't say anything about an increase in min payment.


Just it told me you've gone over by 3 pound pay it within 7 days.... paid it within 7 hours go figure?


But i think the min payment for jan will go down or back to normal.

this 50 thing is just odd, but it's fine.

redpete

Lith wrote: »

robbing b/\stards.

Worth remembering whose money it is that they are asking for.