Nationwide Failure to notify of accruing cusrges

[Deleted User]

phillw said:

born_again said:
Why is it unfair? 

I'd say it could be unfair because a £3 debt transformed into a £51 debt. I would like to see how nationwide justify that.

It doesn't matter if it's in the T&C, they aren't supposed to make a profit out of you missing a payment.

They clearly didn't pick up a phone, so what did they do for their money? Having the computer send a letter out every month doesn't sound enough.

Not to mention that even if the OP is unsuccessful with a complaint, it's also unfair to revel in someone else's mistake for the sake of it. I'm convinced some people only come on here because they get some weird kick out of lording it over people who have messed something up.

[Deleted User]

phillw said:

born_again said:
Why is it unfair? 

I'd say it could be unfair because a £3 debt transformed into a £51 debt. I would like to see how nationwide justify that.

It doesn't matter if it's in the T&C, they aren't supposed to make a profit out of you missing a payment.

They clearly didn't pick up a phone, so what did they do for their money? Having the computer send a letter out every month doesn't sound enough.

There is no obligation for them to ring up the OP to tell them to pay a bill. £3 and £51 aren't huge amounts, hyperbole doesn't change the fact it's a small amount and didn't "transform" into anything, it simply accumulated. They would justify it by pointing to the Ts & Cs agreed by the OP which allow for a fee for missed payments as well as the requirement to tell them if they move house. They didn't make a profit. A letter may not sound enough but it's 100% all that is required.

born_again

phillw said:

born_again said:
Why is it unfair? 

I'd say it could be unfair because a £3 debt transformed into a £51 debt. I would like to see how nationwide justify that.

It doesn't matter if it's in the T&C, they aren't supposed to make a profit out of you missing a payment.

They clearly didn't pick up a phone, so what did they do for their money? Having the computer send a letter out every month doesn't sound enough.

£12 missed payment charge X3 & interest on payment or £!2 missed payment charge x4 & no interest. Standard charge for missing payment at pretty much every card provider.

Not sure where any profit comes into the equation. As costs are not even covered by the £12.

They won't pick up the phone till it reaches a certain amount. 

IvanDP

I was under the impression that you had to have a Nationwide current account to hold one of their credit cards
Or am I mistaken?

ItsComingRome

IvanDP said:

I was under the impression that you had to have a Nationwide current account to hold one of their credit cards
Or am I mistaken?

You need to be a member, which could mean having a mortgage or savings account with them.

[Deleted User]

born_again said:

Deleted User said:

SuperAllyB said:

ItsComingRome said:

SuperAllyB said:

Not got a Nationwide CC but do you not get an email or text when a new statement is available?

Yes but I'm registered for paperless statements, it's very possible that they don't do this for those with paper statements.

Surely easier to keep track with paper statements.  I know I open statements even if I think I haven't spent anything.

They don't generate statements if there has been no transactions and it has a zero balance.

Except the OP had a transaction & outstanding balance.

That is my point...They would have been sent correspondence at least once per month, possibly more if they sent a letter about the late payment fee too but nothing was redirected? Very odd.

phillw

born_again said:
Not sure where any profit comes into the equation. As costs are not even covered by the £12.

What are their costs for sending out a missed payment letter?

The interest on £3 is not going to be huge (~60p for a year on most credit cards), so what other costs are there?

Thrugelmir

phillw said:

born_again said:
Not sure where any profit comes into the equation. As costs are not even covered by the £12.

What are their costs for sending out a missed payment letter?

The interest on £3 is not going to be huge (~60p for a year on most credit cards), so what other costs are there?

Letters don't create themselves. Requires a whole business structure. Using your logic Starbucks should be selling a cup of coffee less than 10p.