lost 0% rate due to late payments...

cornholio

hi all,

my first 2 payments were late on a Virgin card and it looks like the standard interest rate is now been charged. i know its my fault, had set up a DD but to late it looks like given that the cash took 4 days to get from one account to the other - lesson learnt.

my question is have i got a chance of getting the 0% rate back if i phone them, or will they just say tough ? anyone had experience of this ?

cheers

Stu

marksandsparksgal

Given the large amount of posts on here from people that have had the same situation, I'd say probably not, as you've broken the terms and conditions of the special offer, i.e. making minimum payments on time.

It might be worth a begging phone call to the card provider, espeially if you've previously not had any issues running the account, but I wouldn't hold your breath.

YorkshireBoy

cornholio wrote: »

anyone had experience of this ?

Many, many people, judging by the number of times the question is asked. Heres the latest (but no outcome reported yet)...

http://forums.moneysavingexpert.com/showthread.html?t=636557

It's very sad really. 15 months 0% & ridiculously low minimum payments is a very good offer to anyone trying to become debt-free (or make money from stoozing). Shame that people can't make that extra special effort to comply with the repayment schedule.

There have been many instances of people being successful in getting the 0% re-instated, but two things are working against you here...

1. You have missed two payments, and

2. MBNA are about to change the T&C's wording from "we may withdraw the 0% rate" to "we will withdraw the 0% rate" in January.

I suspect you're going to have to grovel like you've never grovelled before to get any success here.

Good luck!

cornholio

thanks for the replies. i thought i was been good setting up payments from a DD so i wouldn't have to remember. as i said, lesson learnt.