Tescobank missed payment

robinsonad86

Hi all and happy new year just after some advice


I have missed my minimum payment with Tescobank by 1 day. What with Christmas and New Year I got the payment dates mixed up logged in a few hours ago and sure a late payment charge (it was due on Jan 1st) I made the payment straight away and have set up a DD so it doesn't happen in future.


My concern is this is a fairly new account maybe 5/6 months old and I did have 40months interest free on BT's. Will I now have lost this offer due to being late with the payment? Will Tesco contact me to inform me if this happens and if so can I appeal or ask them to reconsider as it was a total genuine mistake I have never missed a payment on any card ever up until now.


Thanks in advance for any help

Arleen

Call them?

robinsonad86

Cant get through to relevant department until tomorrow

YorkshireBoy

robinsonad86 wrote: »

Will I now have lost this offer due to being late with the payment?

Almost certainly.

Will Tesco contact me to inform me if this happens

Possibly, by letter. However, you may well find out first on your next statement...due in a week or so?

and if so can I appeal or ask them to reconsider

Yes, and you should.

as it was a total genuine mistake I have never missed a payment on any card ever up until now.

More by luck than judgement? After all, you've had around 3 weeks in which to make the payment. As you've now realised, a DD is a good insurance policy against forgetfulness...and best of all it would have been collected tomorrow, 3rd January, some 2 days after the actual due date, and still classed as paid on time.

How did you set the DD up? I'm presuming online? Because if you'd done it by phone you'd have asked them your question wouldn't you? Best to ring back first thing in the morning and plead for 0% reinstatement (tell them what you've done re the DD). You may get it going forward, but have to 'pay' for your failure to make the payment by accepting some interest for last month...which will run from your last statement date (so 3 weeks worth). Good luck with the financials, but I suspect you'll struggle to prevent a missed payment marker being placed on your credit file.


EDIT: Just to add, because you're now very close to your January statement date, the DD almost certainly won't be set up in time to collect automatically on 1st February. So check the next statement...if it doesn't say payment will be collected by DD, it won't be!

robinsonad86

Managed to get through not long after posting message turna out I was using wrong option when going through. No affect to promo interest rate late fee waived and no affect on cresit score. Feel so relieved and know how lightly i have got off

Shakin_Steve

Thats a good result, well done Tesco.

chrissy3634

Same sort of thing happened to me - I rang Tesco Bank and they dropped the fee because they could see from my records that I always paid my credit card bill in full usually as soon as I got it
Very understanding guy on the phone!

oldagetraveller

Presumably you will now set up a Direct Debit to ensure it doesn't happen again?

robinsonad86

Oh yes already done lesson learned. Have to agree with the comment above even at gone 11pm on a bank holiday the gentleman was amazing very understanding and helpful a credit to the company