Barclaycard default

iamphill

Hi,

I have a Barclaycard which has a limit of £600. Currently just below the limit. When my statement came it went over the £600 limit & I got a default notice - but I paid this as soon as possible & will be closing the account in the next month or so.

Will this affect me at all? Even though I paid the default asap?

[Deleted User]

It will appear on your credit file, for lenders to take into account.

fermi

iamphill wrote: »

Hi,

I have a Barclaycard which has a limit of £600. Currently just below the limit. When my statement came it went over the £600 limit & I got a default notice - but I paid this as soon as possible & will be closing the account in the next month or so.

Will this affect me at all? Even though I paid the default asap?

Depends.

A 'default notice letter' under s87 or 'notice of default sums' is NOT the same thing, legally or procedurally, as a default on your credit file.

Depending on when you paid you may get away with something like a late payment etc.

grumbler

Why 'default', not just going over the limit?

AFAIK, for a default there have to be few missed payments first.

fermi

fermi wrote: »

Depends.

A 'default notice letter' under s87 or 'notice of default sums' is NOT the same thing, legally or procedurally, as a default on your credit file.

Depending on when you paid you may get away with something like a late payment etc.

Thinking on this, I think a notice of default sums is the more likely.

http://help.barclaycard.co.uk/brochure/paying_bill/notice-default-sums

Which as said, should be a late payment marker at most.

iamphill

I can't remember of the top of my head what the letter said. But it was the first time it has happened.