Balance transfer CC - Now charged interest

Alkiezrus · 26 January 2017 at 2:41PM

Hi all,

I'm just posting on here to see if there is anything I can do about a situation I got myself into.
I applied & got accepted for a 0% interest for 3 years credit card nearly a year ago. Everything was going well & I was making the regular payments for it but stupidly hadn't set up the direct debit for payment. So it came to a point around March last year when I was admitted to hospital & I completely forgot about getting the money taken into the bank to pay that month's payment. So I received a letter saying that I had defaulted on the payment due to late payment. I set up the Direct Debit after that but I hadn't realised that they were charging interest until I looked on my usual bank account transactions.
So now, from making the minimum payments, I am near the credit limit & actually owe more money than the original transfer was for. Is there anything I can do to try & reduce the interest payments?

January2015 · 26 January 2017 at 2:53PM

I would phone the company and speak to them, explain what happened and ask if they would refund the charges and put it back to 0%. If the adviser you speak to says no, ask to speak to their supervisor/someone with more authority. Explain you know you missed a payment but it was exceptional circumstances.

You can but try, as the saying goes.

Alkiezrus · 26 January 2017 at 2:54PM

Thank you, I will try that.

EssexHebridean · 26 January 2017 at 3:47PM

Presumably you can produce evidence of being admitted to hospital if they ask for it - it's to be hoped that they wouldn't argue with your request in the circumstances.