Interest added during payment holiday

dmbalf

cymruchris said:

dmbalf said:

I currently have an issue where Aqua credit card company have added three months of interest to my account just recently. I queried this as my last letter stated that no interest would be added during the holiday. The payment holiday ended on June 22nd, however I had some money from a relative that enabled me to pay the balance off in full, which I did on the 19th June. Fast forward to today and they now want £480 in interest because I paid it off three days too early, what do I do? 

Do you have a copy of the letter so that we could see the actual wording?

dmbalf

Here is the letter, thanks. 

maxximus75

"We will not charge your fees or interest ******** payment holiday.  Which means your balance will not increase during ***** holiday."

Guessing at the missing words obscured by the camera flash... from that statement, I would not expect that if you pay in full, the balance as of the start of the payment holiday and before it's expiry.... that would clear your account.

dmbalf

Missing words are during and the.
When i phoned them they stated that because I paid too early, I was classed as not in financial difficulty and therefore liable. They will check their original phonecall to me on Wednesday to confirm I was told this or maybe give me some leeway on the interest,here's hoping. 

Coveredinbees!!!!

Where does it state you have to be in finacial difficulty.

adamp87

Coveredinbees!!!! said:

Where does it state you have to be in finacial difficulty.

Fair point I can’t see that on that letter but the idea of a payment holiday is to only apply if in difficulty isn’t it? 

happy_hazelnuts

Seems that the letter does seem to support the fact that they will not  charge you any interest during the payment holiday

perhaps the best way forward is to raise a formal complaint with the card company and give them the required time to respond

that will get your case looked at by the complaints team

Malkytheheed

More and more we are seeing people in a pickle who opted for the various payment holidays, when they didn't really need them! 

phillw

dmbalf said:

They will check their original phonecall to me on Wednesday to confirm I was told this or maybe give me some leeway on the interest,here's hoping. 

Did you phone them before making the payment to discuss it? Or even make the payment over the phone?
If so then I would certainly make a complaint that they didn't advise you not to make the payment until three days later.
I would always ask ahead of time what the date to phone them to make the payment to avoid interest would be, then phone them back and get them to confirm that you won't be charged any interest.

dmbalf

I remember originally them saying you can't make a full repayment, but not why and when. I was in financial difficulty and still am until my wife goes back to work as a hairdresser next week. I just paid one card off as aqua have ridiculous Apr (40%).