Over my Limit by £3 + min pay increased?

SnowTiger

Lith wrote: »

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.

You've told us you're stills spending on the card.

Doesn't your statement list transactions?

£28 + £3 overlimit + £12 overlimt fee = £43. Meaning there's only a £7 dependency.

The minimum payment isn't fixed. It's based on your outstanding balance, interest, fees, etc.

chattychappy

Lith wrote: »

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

It would be a weird coincidence if the minimum payment really was always exactly £28. £25 would be understandable since some cards have that as a "minimum" minimum balance when the outstanding balance is small.

I wonder if the OP has set up a fixed DD (or standing order) so that £28 is always taken?

I'm struggling with this.

Lith

chattychappy wrote: »

It would be a weird coincidence if the minimum payment really was always exactly £28. £25 would be understandable since some cards have that as a "minimum" minimum balance when the outstanding balance is small.

I wonder if the OP has set up a fixed DD (or standing order) so that £28 is always taken?

I'm struggling with this.

No no no,

every statement for the past several months just says 'min payment £28'

but now it's 50? i never have a DD set up i always pay around 580+ each month to the card, but just find it odd that a min payment is bumped up to 50...

it's no biggy on my part, but they just didn't tell me a reason why they increased it.

i think in jan, it will go down.

glentoran99

Because you have gone over limit have you lost any promotional offers thus increasing interest?

Lith

glentoran99 wrote: »

Because you have gone over limit have you lost any promotional offers thus increasing interest?

promotional offers ended a long time ago.

over the limit by 3 pound slams me with a 50 quid min payment?

Ahh well you live and learn, the cards half paid back anyway, so no fuss on my end.

all is well.

solentsusie

The minimum payment probably increased to take into consideration that the fee would also take you further over your limit.

People have incurred problems in the past where fees have taken them over their limit and then this has compounded month on month with more fees as you stay over your credit limit, if you only make the minimum payment each month, and then you end up in financial difficulties with a trashed credit report.

Think of it as them doing you a favour!