Should I apply for a new account?

Rolphy95

I applied and was granted a credit card with 0% interest recently as was told it would last for 24 months approx if i stayed within the agreement.

My first two bills were due on the same day of each month, so i assumed the third would be on the same day. My mistake. The third bill was due about a week earlier and i ended up being late to pay for it, now I have been told the promo offer of 0% is void and i have been charged and informed that if i withdraw cash, I am going to be charged around £30 (Withdrawing cash was the main reason I needed the card in the first place).

Just asking for opinions, is it worth me applying for a new card elsewhere and paying off the original account with the new one and closing the original one down? Should i apply for a balance transfer account? Will I even get one now?

Any info is appreciated.

Thanks, Harry.

jonesMUFCforever

Give us a little clue please what card is it?

Have you phoned them to explain (as they can see you have made the payment albeit late) to ask if they will reinstate the promotional offer?

Nebulous2

There is a lot of learning for you in there - what has been an expensive mistake!

First of all credit card companies will often reinstate 0% offers and remove excess fees if you plead with them. The key is to be civil, admit your mistake and ask - don't demand or get annoyed - you are asking for a big favour after all.

Secondly, set up a minimum payment by direct debit, particularly if you aren't going to read your statement and keep track of the dates. Then as long as there is money in your current account you should be covered.

Finally try the eligibility checker on here. A missed payment might go against you, so I would be careful with an application - maybe avoiding difficult to get cards. Don't make repeat applications, if you are rejected for one call it a day.

Rolphy95

I wasnt aware they could reinstate the promo offer, spoke to them and they have informed me the purchase promo offer will be reinstated. Thankyou very much!

dresdendave

Rolphy95 wrote: »

I applied and was granted a credit card with 0% interest recently as was told it would last for 24 months approx if i stayed within the agreement.

(Withdrawing cash was the main reason I needed the card in the first place).


Thanks, Harry.

Does the 0% interest rate actually apply to cash withdrawals or is it just applicable to purchases?

fozmcfc

dresdendave wrote: »

Does the 0% interest rate actually apply to cash withdrawals or is it just applicable to purchases?

I don't know of any credit card 0% deal, that includes cash withdrawals.

I hope Rolphy comes back and reads your post, or I guess they'll be back in a month or so, saying they have been charged a lot of interest.

jonesMUFCforever

fozmcfc wrote: »

I don't know of any credit card 0% deal, that includes cash withdrawals.

I hope Rolphy comes back and reads your post, or I guess they'll be back in a month or so, saying they have been charged a lot of interest.

This is why I wanted to know which card the OP had - I too can't see a card with free cash promotinal rate unless it is a money transfer card.

Ben8282

It is VERY UNSUAL for there to be such a large difference between statement dates. Are you sure the statement was issued ONE WEEK earlier. If correct and not initiated by yourself, this is unacceptable behaviour on the part of the card issuer for a number of reasons including the fact that it would significantly reduce any potential interest free period. Please name this issuer.
Even so, you would have known well in advance of the payment due date. You could have questioned it then rather than paying late.
Cash withdrawals are NEVER included in any 0% offer that I have ever heard of. Why do you want a credit card for cash withdrawals? 3% fee and interest from day 1.