charged late fee for early payment

takman

GingerBob wrote: »

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.

Yes I know I'm making assumptions based on little information but that's all you can do on a forum such as this. So with the information you have provided it definetly points towards you not being good at managing money. If you have a credit card to get 1% cashback then how come you don't have multiple current accounts to take advantage of cashbook on your direct debits, contactless cashback, switching bonuses and interest.

The person who had the phone was actually credit checked!. They showed me their credit report after they got the contract. The funny thing is since they have had the contract 3 months ago they haven't missed every payment!.
I also know another person who had multiple payday loans over the years and an overdraft that was never paid back. They were then able to get a sim only contract a few years after. A few months after that they got a £1000 wonga loan and a credit card with a £200 limit. They spent all the money and never paid it back, they even told me they had no intention of paying any of it back when they took them out.
It's these types of people that credit reporting Is required!.

Yes I'm not denying mistakes are made by the companies and the credit reference agency's. But show me a system that involves millions of people and hundreds of companies inputting data where mistakes arnt made!. The most important point is that mistakes are rectified and suitable compensation is given. Dont forget their is a set procedure to raise financial complaints and escalate them as needed. Every thread on here where someone has followed this procedure has ended up with it being resolved and they usually receive some compensation.
Even you admit after you have made mistakes and missed payments they have been resolved!.

Ellen_Dalton

You have to put pre pay meters/methods.I would be like to pay for my shopping expence (on time!) by doing credit payment.

m4rc

GingerBob there is so much more to it that you really don't want to consider. The reason it's bad to pay 'just one day late' is because it helps lenders see a potential pattern of risk. There is a huge difference between a £250 starter limit on a credit builder card and a £250,000 mortgage, but people who start with the first are so often chasing the second.

If you want the mortgage you have to prove you are good for it, and failing to meet a teeny obligation like paying a bill on time shows you simply don't take debt seriously and are a risk. It's that simple. Anyone who doesn't check their statement (online or on paper, they make it very easy) and note the day they need to pay and then make sure hey pay in plenty of time should not be trusted with a large mortgage. That goes for any bill, I don't see why you think it's ok to not pay your utility bills or mobile phone bills considering they are the easiest forms of credit to get. And yes, paying your energy bills over a 12 month period with estimated usage and trust that your readings are honest is credit, you are having something and paying for it later.

Anyway, you can rant on about it being unfair all you like but it's not changing, it's more likely to tighten up even further, and people who don't take it seriously are making that happen. People who can't pay their bills on time and go into debt cost everyone else money, just look at the amount of people on these forums who can't pay their bills and want to get out of paying their credit cards back for one reason or another. It's not free money, sure the credit companies will get their money back and make a profit, if not they wouldn't bother to exist, but to make that happen they charge everyone else more in fees and interest.

And you feel everyone should just be able to do as they please! Personally I think it's too easy to get credit, those who have messed it up before can get credit cards after a short time and do it all again and again. I was bankrupt a very long time ago (a business failed) and I didn't apply for any credit for the next ten years, back in those days I was bankrupt for 3 years and had to regular report my income and expenditure and had money taken off me, it was a punishment. Now it's too easy. I learnt my lesson, so many don't, and I don't want to pay for their irresponsibility.

Not being able to check a statement is a huge warning sign that the person probably isn't ready for more credit, let alone a mortgage, I'm glad those people are not allowed to hide it all away.

saver861

m4rc wrote: »

GingerBob there is so much more to it that you really don't want to consider.

I'm guessing if GingerBob was loaning out 'his own money' to borrowers then he would have a different viewpoint!!

redpete

GingerBob wrote: »

Take the refund. Then, if they won't de-blacklist you at the CRAs close the card. And tell them why.

A single late payment marker does not make it a blacklist (being marked down for punishment or exclusion).