0% CC - Missed Payment

neb51

Hi,

Unsure if anyone can or is able to offer friendly advice.

I have a 0% CC with the terms stating a late payment and the 0% is gone.

Short story - I missed a payment date by 1 days and have subsequently lost the 0%.

This is the first time I have missed the payment date since having the card (1 year). Is there much hope of me getting back my 0%? Are there any measures I can take to aid this?

Many thanks in advance.

Oakdene

neb51 wrote: »

Hi,

Unsure if anyone can or is able to offer friendly advice.

I have a 0% CC with the terms stating a late payment and the 0% is gone.

Short story - I missed a payment date by 1 days and have subsequently lost the 0%.

This is the first time I have missed the payment date since having the card (1 year). Is there much hope of me getting back my 0%? Are there any measures I can take to aid this?

Many thanks in advance.

How was the payment made? What was the reason for being late?

neb51

Payment by card.

If I'm honest, it was human error.

Ebe_Scrooge

I'll say it before anyone else does - here we see the value in setting up a Direct Debit


That aside, phone them up and ask them very nicely. Tell them you know it's your fault entirely, you've always paid on time thus far, it was a genuine oversight, etc. etc. Very often they'll "overlook" it if it's just one occasion in an otherwise blemish-free history. It's definitely worth a phone call.

neb51

Much appreciated for your advice.

I always was uneasy on a direct debit for some reason (I don't actually know why!)... now I see the very, very clear benefits.

Thank you

jonesMUFCforever

OP have you phoned the card lender - say how sorry you are and is there any way they can reinstate the 0% offer?
Sometime politeness works.

chattychappy

Experience here is that you have a good chance of the offer being reinstated, or at least some compromise deal being offered.

CCs make money out of people making mistakes - especially those that don't check statements, but at the same time they don't want to upset people and lose otherwise good customers. So often it's worth doing a deal to keep them sweet. It can save them money too if the disgruntled would otherwise keep phoning up and make official complaints that have to be dealt with.

I also think that the practice of removing a 0% deal in a situation like this is legally dubious, it is effectively a disguised form of penalty for breach of T+Cs, and a rather disproportionate penalty at that. I doubt whether it would stand up if properly challenged. But we're not at that point yet.

Anyway, keep it polite and friendly. Just say you messed up and could they reinstate it. I don't do DDs either. Twice I was late with a penalty during an offer. The first time they never took away the offer. The second time, it was just reinstated and they refunded the late fee (though I didn't actually mention that).

If they won't reinstate, then you can either go the formal complaints route and say it's all very unfair (along the lines I suggested above) or just do the maths to see if it's worth just paying whatever the interest rate they are charging, or whether it's worth paying a fee to BT elsewhere if you can get another card. With BT fees of around 3%, it's usually worth transferring anything you can't pay back in a couple of months.

chattychappy

Ebe_Scrooge wrote: »

I'll say it before anyone else does - here we see the value in setting up a Direct Debit

All depends. For every thread we get like this, there is a thread from someone who missed the first payment because although they set up a DD, they hadn't realised that it was too late for the first payment to be taken that way.

Then there are people who "forget" the DD is being taken and have insufficient funds - so end up with charges on both the CC and the bank account.

Or people who, having set up a DD, don't feel the need to check statements anymore and only months later realise that the deal they thought would happen didn't happen or there is some other problem on the account which has cost them. Plenty of threads of this kind.

Horses for courses!

neb51

Thank you very much for the great response/s

I'll be giving them a call today to have a chat and see what can be done - hopefully following the given advice will bring some good news!

neb51

Thank you for all of your responses and help - They reinstated my promotional offer.

Ebe_Scrooge

neb51 wrote: »

Thank you for all of your responses and help - They reinstated my promotional offer.

That's a good result.


And how pleasantly refreshing for a poster to come back and update us on the outcome :beer: