m&S credit card, paid late by 1 day. No late payment fee, still paid before statement was generated

seatbeltnoob

skinnish said:

i missed a payment of £6. I had a notification on my phone from the Halifax app but by the time is saw it was past midnight and therefore the next day. I paid it there and then and rung them next day. the lady on the phone said she will credit some pennies to cover the interest for 1 day and there will NOT be a late payment but the interesting thing she said was that if it is paid within the same calendar month it is not reported as a late payment. not sure how correct this information is or whether to believe them only time will tell or i could ring back and ask someone else

I just re-read the t&cs. M&S bank are not levying any late fees.

I think the thing about late payment before the statement is printed may be correct. Like I said earlier I've had the same happen to me with tesco bank. I had a few late payments that were paid before the statement date (many years ago). I thought my credit report is destroyed for sure. But low and behold, when I looked up the credit report the payment reports were spotless. All recorded as paid on time.

cymruchris

seatbeltnoob said:

skinnish said:

i missed a payment of £6. I had a notification on my phone from the Halifax app but by the time is saw it was past midnight and therefore the next day. I paid it there and then and rung them next day. the lady on the phone said she will credit some pennies to cover the interest for 1 day and there will NOT be a late payment but the interesting thing she said was that if it is paid within the same calendar month it is not reported as a late payment. not sure how correct this information is or whether to believe them only time will tell or i could ring back and ask someone else

I just re-read the t&cs. M&S bank are not levying any late fees.

I think the thing about late payment before the statement is printed may be correct. Like I said earlier I've had the same happen to me with tesco bank. I had a few late payments that were paid before the statement date (many years ago). I thought my credit report is destroyed for sure. But low and behold, when I looked up the credit report the payment reports were spotless. All recorded as paid on time.

Have you thought about asking them to move the due date to a more convenient day to synchronise with your salary - and then setting up a direct debit to collect the minimum - that way if you want to make an additional overpayment you can, but then there'll be no last minute panics of late fees and black marks. It might take a bit longer to arrange right now because of a lack of staff - but seems a straightforward solution to reduce your stress in future. 

seatbeltnoob

cymruchris said:

seatbeltnoob said:

skinnish said:

i missed a payment of £6. I had a notification on my phone from the Halifax app but by the time is saw it was past midnight and therefore the next day. I paid it there and then and rung them next day. the lady on the phone said she will credit some pennies to cover the interest for 1 day and there will NOT be a late payment but the interesting thing she said was that if it is paid within the same calendar month it is not reported as a late payment. not sure how correct this information is or whether to believe them only time will tell or i could ring back and ask someone else

I just re-read the t&cs. M&S bank are not levying any late fees.

I think the thing about late payment before the statement is printed may be correct. Like I said earlier I've had the same happen to me with tesco bank. I had a few late payments that were paid before the statement date (many years ago). I thought my credit report is destroyed for sure. But low and behold, when I looked up the credit report the payment reports were spotless. All recorded as paid on time.

Have you thought about asking them to move the due date to a more convenient day to synchronise with your salary - and then setting up a direct debit to collect the minimum - that way if you want to make an additional overpayment you can, but then there'll be no last minute panics of late fees and black marks. It might take a bit longer to arrange right now because of a lack of staff - but seems a straightforward solution to reduce your stress in future. 

I've never had insurance/credit card/benefits ever syncronise their dates for me in the past. For them it's more trouble than it's worth so I never asked again.

In any case. I'm cancelling this card, so it doesn't matter any more.

They didn't post a default on account so I'm happy.

jpsartre

seatbeltnoob said:

cymruchris said:

seatbeltnoob said:

skinnish said:

i missed a payment of £6. I had a notification on my phone from the Halifax app but by the time is saw it was past midnight and therefore the next day. I paid it there and then and rung them next day. the lady on the phone said she will credit some pennies to cover the interest for 1 day and there will NOT be a late payment but the interesting thing she said was that if it is paid within the same calendar month it is not reported as a late payment. not sure how correct this information is or whether to believe them only time will tell or i could ring back and ask someone else

I just re-read the t&cs. M&S bank are not levying any late fees.

I think the thing about late payment before the statement is printed may be correct. Like I said earlier I've had the same happen to me with tesco bank. I had a few late payments that were paid before the statement date (many years ago). I thought my credit report is destroyed for sure. But low and behold, when I looked up the credit report the payment reports were spotless. All recorded as paid on time.

Have you thought about asking them to move the due date to a more convenient day to synchronise with your salary - and then setting up a direct debit to collect the minimum - that way if you want to make an additional overpayment you can, but then there'll be no last minute panics of late fees and black marks. It might take a bit longer to arrange right now because of a lack of staff - but seems a straightforward solution to reduce your stress in future. 

I've never had insurance/credit card/benefits ever syncronise their dates for me in the past. For them it's more trouble than it's worth so I never asked again.

Must depend on the lender. I've changed the payment date of my creditcards several times in the past. The date is always moved forward though.