charged late fee for early payment

BlondBoy

GingerBob wrote: »

Exactly my point. Unintentional. A mistake of the most trivial kind that involved no loss whatsoever to the card company. Nevertheless, they've put the punter on a CRA blacklist.


The problem we have with the current CRA regime is that it doesn't differentiate between trivial mistakes and borrowing malpractice. And it's worse where utility companies are concerned. All sorts of issues there can cause unjustified blacklisting.

While I'm no big fan of CRAs either, I'm not sure what you expect them to do.

The OP, albeit unwittingly, didn't made a payment within the terms and conditions they agreed to. That fact has been recorded. That's all. Hopefully it won't happen again.

What else would you suggest as an option? CRAs creating and banks supplying additional reporting codes, perhaps? Maybe like:

CDNRTC - Customer didn't read terms and conditions so missed payment
CWBATT - Customer was busy at the time so didn't get round to it
DACH - Dog ate customers' homework?

GingerBob_3

BlondBoy wrote: »

While I'm no big fan of CRAs either, I'm not sure what you expect them to do.

The OP, albeit unwittingly, didn't made a payment within the terms and conditions they agreed to. That fact has been recorded. That's all. Hopefully it won't happen again.

What else would you suggest as an option? CRAs creating and banks supplying additional reporting codes, perhaps? Maybe like:

CDNRTC - Customer didn't read terms and conditions so missed payment
CWBATT - Customer was busy at the time so didn't get round to it
DACH - Dog ate customers' homework?

Ha, ha. Very funny.



It's simple. CRAs should not be permitted to record trivia, which is what they seem to spend most of their time doing. A one-day "late" payment or an obvious mistake such as this one should not be recorded.


So here goes: three consecutive late payments overdue for 10 days or more gets recorded. One offs don't.


Utility companies and mobile phone operators banned from reporting.


Debt collection agencies no access to CRA files.


Government departments (local and national) no access to CRA files except to investigate serious crime and with a warrant.


A single, government-issued licence, to run a single UK credit reporting agency.


Lots more changes are needed in addition to the above. And before anyone points out that punters could then regularly make two late payments in a row without being blacklisted. Yes they could, but one might expect the CC company to then close the account.

MABLE

With me I have a dd set up on my credit cards account but often pay manually and provided paid in time stops the dd being activated for that month. Often I pay manually to MBNA and just get them to suspend it that particular month.




As we know the situation the OP found themselves in could have easily been avoided by setting up a dd.

YorkshireBoy

GingerBob wrote: »

A one-day "late" payment or an obvious mistake such as this one should not be recorded.

Who would pay for the 'code' to be re-written? Or maybe you think all CRA data reporting should be done manually/checked/verified by a human? (which, after all, will be the only realistic way of applying 'common sense' as I imagine you'd call it)...in which case, same question to you.

Utility companies and mobile phone operators banned from reporting.

That would mean we'd all be put on pre-pay meters/methods. Me?...I'd like to pay for my gas (on time!) on credit.

saver861

GingerBob wrote: »

Exactly my point. Unintentional. A mistake of the most trivial kind that involved no loss whatsoever to the card company. Nevertheless, they've put the punter on a CRA blacklist.

Not sure what you mean exactly as being on the CRA black list. It may go down as a missed payment, and the OP has the option to record an explanation for that.

I once missed a payment for a CC some years ago (I simply forgot), and the CC notified me instantly and reduced the credit limit, stopped the card etc. I contacted them, made the payment by Debit Card and I can't recall any issues about it. I play the Stoozing Game and have had several cards at any one time.

Another time, around 20 years ago I recall trying to switch my mortgage but was turned down and they advised I contact the CRA for a report. Sure enough it showed a default for over £400 for a mobile phone bill.

What had happened was my phone had been cloned and someone rang up the bill. I contacted O2 at the time and it was no problem. The gave me a new number and wiped the bill. However, as I found out some years later O2 had inadvertently allowed it to go through to the CRA as a default. I was still getting Credit Cards so I was oblivious to the problem at the time!

When it came to light, O2 rectified the problem, I got my mortgage and I got over £400 from O2 for their mess up ( after a deal of haggling with them).

I've never had a problem with the CRA's really - that is not to say there are not problems and they can make it difficult for people to build up a credit history etc. - however, consumers need to learn too and the OP has learned a lesson and hopefully others on here will benefit from reading the thread also.

takman

GingerBob wrote: »

Ha, ha. Very funny.



It's simple. CRAs should not be permitted to record trivia, which is what they seem to spend most of their time doing. A one-day "late" payment or an obvious mistake such as this one should not be recorded.


So here goes: three consecutive late payments overdue for 10 days or more gets recorded. One offs don't.


Utility companies and mobile phone operators banned from reporting.


Debt collection agencies no access to CRA files.


Government departments (local and national) no access to CRA files except to investigate serious crime and with a warrant.


A single, government-issued licence, to run a single UK credit reporting agency.


Lots more changes are needed in addition to the above. And before anyone points out that punters could then regularly make two late payments in a row without being blacklisted. Yes they could, but one might expect the CC company to then close the account.

I really can't believe how you continue to spout this nonsense even when you have been told countless times how wrong you are.

I personally have told you at least twice there are NO BLACKLISTS and yet you continue to believe their are. Do you also believe in Santa Clause and refuse to listen to anyone who tells you otherwise :rotfl:.

Also if people were allowed two late payments like you said and then its up to the credit card companies to close their account. This won't stop them doing the exact same thing to other credit card companies.


It's pretty obvious you are just terrible at managing your money and every time you make a mistake you blame the system and how it works. This means you never learn and continue to make mistakes!.

I have never made one late payment in my entire life or incurred any bank charges ever!, even though i have alot more accounts than the average person. There is no excuse for making a late payment when there are many options available to make a payment. So if i can do it then so can everyone else!

[Deleted User]

GingerBob wrote: »

Utility companies and mobile phone operators banned from reporting.


Debt collection agencies no access to CRA files.

So people like you can get away with not paying their bills? Is that why you spout all your nonsense? So you can feel better about the fact you can't manage your own money properly?

GingerBob_3

takman wrote: »

I really can't believe how you continue to spout this nonsense even when you have been told countless times how wrong you are.

I personally have told you at least twice there are NO BLACKLISTS and yet you continue to believe their are. Do you also believe in Santa Clause and refuse to listen to anyone who tells you otherwise :rotfl:.

Also if people were allowed two late payments like you said and then its up to the credit card companies to close their account. This won't stop them doing the exact same thing to other credit card companies.


It's pretty obvious you are just terrible at managing your money and every time you make a mistake you blame the system and how it works. This means you never learn and continue to make mistakes!.

I have never made one late payment in my entire life or incurred any bank charges ever!, even though i have alot more accounts than the average person. There is no excuse for making a late payment when there are many options available to make a payment. So if i can do it then so can everyone else!

Well bully for you. I'm immensely impressed by the level of perfection you've achieved. :beer:

And as I've also told you: the blacklist is what you and the rest euphemistically refer to as "your" credit file. One trivial error from either side and it's a blacklist, becoming greyer as time marches on. The present case is a good illustration. How do you think a mortgage provider would have viewed this case had the OP applied for a mortgage immediately after having been blacklisted by the CC card company for this incredibly trivial incident? I'll tell you. At best they would have asked a truck load of further questions and required a much greater proof of financial probity, but more likely, they would have rejected the application.


"Your" credit file is your personal blacklist from which there's often no escape if it contains erroneous data (see the VERY many cases concerning npower on this board). It also typically contains data that's all too easy to misinterpret by lenders. People like the OP are flagged up as bad payers when they're nothing of the sort. As I've said on numerous occasions, and will continue to do so; the credit reporting system is dysfunctional. The CRAs continue to publish lies about large numbers of people, there are too many CRAs, and they are in dire need of PROPER regulation.


As for your comments about me being terrible at managing my money. Bu11shit! How the hell could you possibly know that! I run 12 credit cards, ONE current account and various investment vehicles including a substantial pension fund. However, unlike you I'm not perfect and over the years have made the occasional late payment - always due to a misunderstanding and always refunded.


I see CRAs for what they are. Most punters here don't.

takman

GingerBob wrote: »

Well bully for you. I'm immensely impressed by the level of perfection you've achieved. :beer:

And as I've also told you: the blacklist is what you and the rest euphemistically refer to as "your" credit file. One trivial error from either side and it's a blacklist, becoming greyer as time marches on. The present case is a good illustration. How do you think a mortgage provider would have viewed this case had the OP applied for a mortgage immediately after having been blacklisted by the CC card company for this incredibly trivial incident? I'll tell you. At best they would have asked a truck load of further questions and required a much greater proof of financial probity, but more likely, they would have rejected the application.


"Your" credit file is your personal blacklist from which there's often no escape if it contains erroneous data (see the VERY many cases concerning npower on this board). It also typically contains data that's all too easy to misinterpret by lenders. People like the OP are flagged up as bad payers when they're nothing of the sort. As I've said on numerous occasions, and will continue to do so; the credit reporting system is dysfunctional. The CRAs continue to publish lies about large numbers of people, there are too many CRAs, and they are in dire need of PROPER regulation.


As for your comments about me being terrible at managing my money. Bu11shit! How the hell could you possibly know that! I run 12 credit cards, ONE current account and various investment vehicles including a substantial pension fund. However, unlike you I'm not perfect and over the years have made the occasional late payment - always due to a misunderstanding and always refunded.


I see CRAs for what they are. Most punters here don't.

One of your big mistakes is thinking that making all your payments on time makes someone "perfect". I would consider making all your payments on time to be a pretty standard expectation and should be considered the norm.

You don't seem to understand what a Blacklist is; a blacklist is a list of people who are to be excluded, aka refused credit.

So you seem to think that someone with a late payment would be refused all credit, WRONG!.
I know someone who has defaulted on 5 mobile phone accounts and a credit card with loads of missed payments leading up to the default. Yet have just been accepted for a new mobile phone contract with a £600 phone.
So that one example proves its not a Blacklist at all. Plus I can give you many other examples of this happening.

Now let's look at it from another point of view. By having Credit Reports this let's the banks to determine who is high and low risk very easily. This means people who make payments on time like me can get much better deals (such as 0% credit cards) and higher limits. Plus very low interest loans. You couldn't get such good deals before everyone had a credit report!.

So this means the only people who are negatively affected by credit reports are people who can't manage their money well. Therefore because you are the biggest critic of them I know it would be logical to assume that you are bad at managing your money.

Also you say you have 12 credit cards. If you were using them for stoozing, cashback or for foreign currency you would only have about 5 at the most. But by having 12 indicates you must be in debt and carrying balances on these cards.
You also say you have only one current account. Considering that the best (guranteed) interest rates are available in current accounts then you must have little or no savings. Also this shows you are bad at financial management because only having one account isn't very sensible and you should always have a backup.

GingerBob_3

Also you say you have 12 credit cards. If you were using them for stoozing, cashback or for foreign currency you would only have about 5 at the most. But by having 12 indicates you must be in debt and carrying balances on these cards.

Mainly wrong. Five active ones. Cashback of 1% on the main household expenditure card. All paid off in full, monthly. Except BOS which has 0% BT that I got for 20 months (or thereabouts) without a fee. I'd call that good management. You're right about the current accounts, though. I'm getting a backup, but not for investment. Don't make assumptions on how people manage their finances.

The guy with the phone - I can only assume he wasn't credit checked. I'm guessing you think that as well?


People who are negatively affected by credit reports - well, if what you say was right there would be no need for the thread about credit reporting on this board. I'd estimate half the complaints in that thread are justified; i.e. raised by people who have been shafted by the overall credit reporting regime and not at fault themselves.