Royal Bank of Scotland Gold Card Rip-off!! Beware!!!

harrygrout_3

I recently applied for a RBS Gold Credit Card which gives 0% on Balance transfers for 12 months, which i duly took advantage of. I also set up a Direct Debit payment, which I was informed that i would have to make the first payment manually as the DD would not be set up in time to make the next payment due. Unfortunately due to being busy, I forgot to make this payment, and so incurred a £12 late payment fee. I contacted RBS on the phone to find out the options to pay the installment and they told me that they could take double on the next payment, which seemed reasonable so I accepted that option.
However, I got a letter a few day's later informing me that I needed to make the payment manually as the DD was not going to make the payment, so I phoned them again, and was clearly told that the DD was set up and that the payment would be made.
The following month I got another letter informing me that the payment had not been made and that i would incur another late payment fee. I phoned again, and was informed that I had missed another payment, and that the Direct Debit had only paid for the previous month and that the current month's payment had not been made, and that somehow it was my fault because I should have paid it manually! I was getting pretty cheesed off by this time and gave them a piece of my mouth at the confusion they had created. Anyway the upshot was that the payment was made and I had to suffer two late payments because of their inefficiency. Thanks very much RBS!:mad:
The following month I received my statement and finally the DD was making the payment, but I noticed that there was a charge being made for interest. So I phoned them yet again to ask why they were charging me interest on a balance transfer that had 0% for 12 months? They told me that because I had made 2 late payments, this disqualified the interest free period!!!!!:mad: :mad:
Well you can imgine my reaction.... I went ballistic! It was their fault that the payments were late, they had charged me twice for late payments, and were now charging me the full interest on the transfer. I informed them that I would be reporting their actions on this website and that people would know how they treat their customers.
So be warned to be very careful when applying for one of these cards to double and triple check if the DD is making the payment or else you will be hit for extortionate charges like I was.
My latest statement has arrived and I notice that they have reinstated the interest free period, so they were obviously worried about my intentions to report their actions here. They did not refund the interest charged last month though.
If you were cynical, which I am, you might think that this was no accident, how else are they going to make any money on the account, because as soon as the interest free period has ended I will transfer the money out of the account?

System

why is it rbs at fault ? you forgot the 1st payment the subsequent problems could have been avoided if as told origionally you made a manual payment.

MABLE

harrygrout wrote: »

I recently applied for a RBS Gold Credit Card which gives 0% on Balance transfers for 12 months, which i duly took advantage of. I also set up a Direct Debit payment, which I was informed that i would have to make the first payment manually as the DD would not be set up in time to make the next payment due. Unfortunately due to being busy, I forgot to make this payment, and so incurred a £12 late payment fee. I contacted RBS on the phone to find out the options to pay the installment and they told me that they could take double on the next payment, which seemed reasonable so I accepted that option.
However, I got a letter a few day's later informing me that I needed to make the payment manually as the DD was not going to make the payment, so I phoned them again, and was clearly told that the DD was set up and that the payment would be made.
The following month I got another letter informing me that the payment had not been made and that i would incur another late payment fee. I phoned again, and was informed that I had missed another payment, and that the Direct Debit had only paid for the previous month and that the current month's payment had not been made, and that somehow it was my fault because I should have paid it manually! I was getting pretty cheesed off by this time and gave them a piece of my mouth at the confusion they had created. Anyway the upshot was that the payment was made and I had to suffer two late payments because of their inefficiency. Thanks very much RBS!:mad:
The following month I received my statement and finally the DD was making the payment, but I noticed that there was a charge being made for interest. So I phoned them yet again to ask why they were charging me interest on a balance transfer that had 0% for 12 months? They told me that because I had made 2 late payments, this disqualified the interest free period!!!!!:mad: :mad:
Well you can imgine my reaction.... I went ballistic! It was their fault that the payments were late, they had charged me twice for late payments, and were now charging me the full interest on the transfer. I informed them that I would be reporting their actions on this website and that people would know how they treat their customers.
So be warned to be very careful when applying for one of these cards to double and triple check if the DD is making the payment or else you will be hit for extortionate charges like I was.
My latest statement has arrived and I notice that they have reinstated the interest free period, so they were obviously worried about my intentions to report their actions here. They did not refund the interest charged last month though.
If you were cynical, which I am, you might think that this was no accident, how else are they going to make any money on the account, because as soon as the interest free period has ended I will transfer the money out of the account?

Please accept responsibility for causing this problem to begin with. If you had a 0% offer with MBNA and failed to make the min payment on time no way would the preferentail rate have been reinstated. They are in effect giving you free money and you just could not be bothered to make the payment on time because you were too busy. No doubt the further complications were caused because the bank were too busy and we all know what happens in those circumstances!

Zebedee69

Ye, I think although the bank were naughty.... You were naughty too.....

Sorry!

jamalfatty

harrygrout wrote: »

......which I was informed that i would have to make the first payment manually as the DD would not be set up in time to make the next payment due. Unfortunately due to being busy, I forgot to make this payment,

It was their fault that the payments were late,

So run that by me again?.........

..... so they were obviously worried about my intentions to report their actions here.

I would very much doubt that

They did not refund the interest charged last month though.

And why should they?

If you were cynical, which I am, you might think that this was no accident, how else are they going to make any money on the account, because as soon as the interest free period has ended I will transfer the money out of the account?

They make money by people spending on card, taking business away from competitors, BT Fees, oh yeah, and people being complacent and not making the payments

harrygrout_3

CHRISSYG wrote: »

why is it rbs at fault ? you forgot the 1st payment the subsequent problems could have been avoided if as told origionally you made a manual payment.

They were at fault because I contacted them after the first payment was missed, and arranged to set up the payment, at their suggestion, by paying double with the next Direct Debit, but they didn't do this, and despite the fact that I phoned them when I was sent the letter saying the Direct Debit was not going to make the payment and was clearly told that it was set up and would make the double payment, they did not do that and subsequently hit me with another late payment charge and cancelled the 0% interest rate. That was why they were at fault, and if you had read the original message properly in the first place, I would not need to write this reply.
They have obviously realised their error by reinstating the 0% interest, but only after I made such a fuss.
The purpose of this message was to warn others in case something similar happens to them, not to take criticism from people who do not take the time to read entries properly and jump to incorrect conclusions.

harrygrout_3

MABLE wrote: »

Please accept responsibility for causing this problem to begin with. If you had a 0% offer with MBNA and failed to make the min payment on time no way would the preferentail rate have been reinstated. They are in effect giving you free money and you just could not be bothered to make the payment on time because you were too busy. No doubt the further complications were caused because the bank were too busy and we all know what happens in those circumstances!

If you read my post you will see that I did accept responsibility for missing the first payment, and contacted them immediately to arrange the payment. The further complications were caused by their inefficiency not mine, and it was only after lengthy phone calls and continual complaints that they reinstated the interest rate, which is an acknowledgement of their error.

I also resent the implication that I could not be bothered, insinuating that i knew the payment was due, but did nothing about it. I explained quite clearly that I forgot, and unless you learned a different kind of English than the rest of us, "being forgetful" does not mean "not being bothered".:rolleyes:

harrygrout_3

Zebedee69 wrote: »

Ye, I think although the bank were naughty.... You were naughty too.....

Sorry!

Not naughty!! Forgetful!! What is wrong with you people? Have you nothing better to do than criticise??:mad:

harrygrout_3

jamalfatty wrote: »

"It was their fault that the payments were late"

So run that by me again?.........

When I called them they told me that the letter was wrong and that the DD would make the full payment, but it didn't, and I was penalised for it wrongly.

[quote=jamalfatty;6781598]..... so they were obviously worried about my intentions to report their actions here.

I would very much doubt that[/quote]

Do not underestimate the importance of public opinion, although with the dumb responses i have had from some of the readers, a lot of them don't seem to get the point.

jamalfatty wrote: »

They did not refund the interest charged last month though.

And why should they?

Because of the first reason above. The second payment not being made was their fault, yet I still had to pay the interest. If they had taken the full payment by DD in the second month, like they told me they would on the phone, then none of this would have happened.

jamalfatty wrote: »

If you were cynical, which I am, you might think that this was no accident, how else are they going to make any money on the account, because as soon as the interest free period has ended I will transfer the money out of the account?

They make money by people spending on card, taking business away from competitors, BT Fees, oh yeah, and people being complacent and not making the payments

My quote referred to my own situation, namely I opened the account to take advantage of the 0% balance transfer fee. Sure they make from the BT fees, but only 2%. Regarding complacency, that may well be the case, which is the reason of my original message in the first place, to warn others not to make the same mistake that i did, but also to watch out for "errors" not of your own doing, for which you could also be penalised.


I hope that this is the end to the pointless and trivial criticism of my post. The purpose of the post was to try to help other readers not to fall into the same trap, and not to have to take a barrage of attack by people who do not even take the time to read the post properly.
Constructive criticism is always welcome as are questions to clarify any points not clear, but petty sniping is not welcome. If you have nothing constructive to say, better to say nothing.

Iamthesmartestmanalive

OP if you read the terms and conditions it will state late payment ends the 0%

You made a late payment because you forgot

You breached the terms and they did what they stated

Your post is irrelevent after the first few lines as subsequent problems are irrelevent to your main argument the interest

Transfer off or pay the interest

Its your own fault, it isnt a scam or a rip off

caver

^^^^^^^^^^^ what he said.

You miss one payment you lose the 0% promotion.
By phoning up RBS you should easily be able to set up a minimum payment on a direct debit as long as you give the correct account number and sort code.