Halifax random 50p interest charge

cappy

OK, no massive money saver but after speaking to Halifax Credit Card Services it appears there is a glitch in their system which is randomly applying 50p interest to credit card accounts.

The first time it happened to my account I just ignored it and assumed it was something I'd done or spent, not the second time though ... makes you wonder how many people this affects, how many people actually check it out and just how much extra money Halifax have the potential to make!


I'll have my £1 back thank-you Mr Halifax

knowledgeman

cappy wrote: »

OK, no massive money saver but after speaking to Halifax Credit Card Services it appears there is a glitch in their system which is randomly applying 50p interest to credit card accounts.

The first time it happened to my account I just ignored it and assumed it was something I'd done or spent, not the second time though ... makes you wonder how many people this affects, how many people actually check it out and just how much extra money Halifax have the potential to make!


I'll have my £1 back thank-you Mr Halifax

Im pretty sure halifax have recently applied a minimum charge of 50p interest on certain types of accounts so it may be you were due some obscure amount rounded to the minimum

youknowwho

cappy wrote: »

OK, no massive money saver but after speaking to Halifax Credit Card Services it appears there is a glitch in their system which is randomly applying 50p interest to credit card accounts.

The first time it happened to my account I just ignored it and assumed it was something I'd done or spent, not the second time though ... makes you wonder how many people this affects, how many people actually check it out and just how much extra money Halifax have the potential to make!


I'll have my £1 back thank-you Mr Halifax

This is not a glitch in the system at all. I hava a Halifax CC and they sent a letter to saying that from your august statement if your interrest is lest than 50p I.E 1p or 12p then Halifax will round this interest up to 50p.

It's a little way to make some extra profit with all the ppl who can't run their accounts properly claiming their charges bk, so the ppl like me who don't get charged any penalty's have to subsidise all those others.

If you ring thjem up and ask, they will kindly give you the same answer.

cappy

No, sorry folks, it is a glitch in their system, having spoke to them twice both people have said the excately the same thing.

True in what you say about minimum interest charges being applied however as I pay the full balance every month I will never ever have had to pay interest! ... perhaps I should have said that in the inital post!?

knowledgeman

cappy wrote: »

No, sorry folks, it is a glitch in their system, having spoke to them twice both people have said the excately the same thing.

True in what you say about minimum interest charges being applied however as I pay the full balance every month I will never ever have had to pay interest! ... perhaps I should have said that in the inital post!?

Maybe you had a "cash" transaction were interest is charged from the day of the transaction and regardless if your balance is cleared

youknowwho

It's not a glich in the system, it maybe a glitch on your accout, where you should not be getting charged any interest at all. The op is right in saying you may have taken cash out, this will result in the interest being added and its totally legit and the interest will need to be paid.

But i know for fact that Halifax are charging a 50p interest charged if the initial interest is less than 50p. Obviously if you pay off your balance in full every month this will not apply.

cappy

Yawn ... OK I give up, you two obviously know better than I?? Yes I know they are now charging a minimum interest ... it says so on the statement! And no I don't get cash out on it, I'm not daft, like I said I NEVER EVER PAY INTEREST!! All I'm doing is reporting what Halifax have told me ... twice!!

jonesMUFCforever

But have you had any ''cash'' transactions - this could include any kind of transaction to an online bookie, bingo etc etc.
Some even charge now for using your card to buy gift vouchers.

Dylanwing

It's a little way to make some extra profit with all the ppl who can't run their accounts properly claiming their charges bk, so the ppl like me who don't get charged any penalty's have to subsidise all those others.

Yep, overcharge customers, who cares as long as you personally are not affected? If everybody ran their account like you, the CC company would make no money and you'd get charged even more.

swayze

This is not a glitch with the system.

Halifax do have a minimum interest of 50p. Egg also has 50p. Barclays has a minimum of £1. I'm sure there are a couple of others but can't remember which ones they are now. Anyone know what they are again?