Missed minimum payment on HSBC card

I have missed the minimum payment on my 18 month 0% hsbc credit card (thought I set the dd up when applying but it seems somethings gone wrong).  Do I lose the 0% interest for the whole of the 18 months -  ie I smay as well pay the whole balance off now?

Comments

  • Call them, they may not remove the promotion for a simply mistake is asked.
  • DullGreyGuy
    DullGreyGuy Posts: 9,184
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    I have missed the minimum payment on my 18 month 0% hsbc credit card (thought I set the dd up when applying but it seems somethings gone wrong).  Do I lose the 0% interest for the whole of the 18 months -  ie I smay as well pay the whole balance off now?
    Normally you would but if this is your first offence and you contact them and are contrite they will often reinstate it if you immediately correct the error
  • Brie
    Brie Posts: 9,345
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    Be quick about it contacting them!!  If you realised no payment was made mid November then you're probably going to lose the deal.  But if it was needed yesterday sort it today and you might be ok.  
    "Never retract, never explain, never apologise; get things done and let them howl.”
  • OK thanks, I contacted them but not possible to pay over the phone by debit card.  Have now paid by bank transfer to cover last month and this months min payment plus a bit more.  Payment was due Monday, statement issues yesterday has a late fee of £12 but still says interest 0%, so I think I may be ok for the deal - they'd have to advise me if they start charging higher interest? 
  • Not necessarily as it's standard protocol in the T&C's of any card issuer.
    I've had this happen, in the past, and they wouldn't budge from their stance of late equalling a forfeit of the interest free period.
    Be prepared to pay it all off if they won't agree to let you stay on the promotion.
  • Phoned them this morning, they could see the payment pending, and said they'd suppress all late fees and interest and refund the £12 late fee.  :)
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