Tesco credit card policy change

Twiglet03_2

Be aware of Tesco credit Card policy change, they used to allow payment on very last due day, as long as before midnight and no charges would be applied, had this card for several years always been the same. they now charge late payment charge if done on that day, no notice given for this change, typical of greedy companys!:mad:

Paul_Herring

Of course, paying by direct debit, or allowing the usual three days, as you should be doing, is too much of a hassle?

It appears you've been using an undocumented loophole, and are now peeved that it's been closed.

no notice given for this change, typical of greedy companys!

Was this behaviour actually documented in the T&C's of the card? If not, then you have no grievance. Most cards require you to allow for the vagaries of the banking system. Tesco were just unusual in that most of the time they weren't affected.

(In reality, what's probably happened is that something behind the scenes has been changed, without realising that it was closing this loophole.)

Twiglet03_2

Thank you for your comments, Direct Debit as I should be doing? Where does it state that in theT&C's. Direct Debit is all well and good but as my card is paid off in full every month this is probably not practical. And yes you could say I was peeved a little, however, I was told by a call centre operative we would be notified should this change. I suspect you are right that it was probably a behind the scenes change or a deliberate attempt to get those of us from whom they don't make any money out of!

Paul_Herring

Thank you for your comments, Direct Debit as I should be doing? Where does it state that in theT&C's.

It's implied under the 'allow sufficient time for the money to arrive' section. Direct Debits will always arrive on time. Standing orders and paying over the counter less so if you're relying on a processing time less than 3 working days (as you have been doing.)

Direct Debit is all well and good but as my card is paid off in full every month this is probably not practical.

It's eminently practical. Once set up it's guaranteed to be taken at the latest opportunity to allow your bill to be paid off in full every month, on time. If it's late then Tesco will be to blame, not you.

I suspect you are right that it was probably a behind the scenes change or a deliberate attempt to get those of us from whom they don't make any money out of!

Do Tescos sell tin-foil hats?

Twiglet03_2

Thank you for your comments, Tin Foil hats!!!!!! you tell me as you sound like you work for them.

Paul_Herring

No - I don't work for them, thankfully.

Just pointing out an alternative common-sense approach instead of thinking the whole financial industry is out to get you.

Just set up a direct debit for either
a) the whole amount if you are guaranteed to be able to cover it each and every month (which, from what you've said, you should be able to.)
b) the minimum amount, in which case you can 'overpay' the difference between the minimum amount and the balance.

I'd avoid (b) if possible however, since you're likely to run into timing problems again which may result in your not 'technically' paying the balance off in time, and end up with an interest bearing balance.

The direct debit will typically come out of your bank account on the date given on your statement (or the previous or next working day - depends on how Tesco works,) and will require no further input from you (apart from checking that they've taken the amount out you expected them to.) [Note - do not mistake being unable to 'draw' on those funds a couple of days prior with your bank removing the money early - they'll have just 'earmarked' it for the DD to come.]

Further, you have the DD guarantee if they do screw up (take on wrong day/take wrong amount.)

Twiglet03_2

Once again thank you for your comments, relevant action now taken on both Tesco credit cards, won't be caught again!!!!! Trust nobody.

neverdespairgirl

Hi - just to let you know, a direct debit can be for the full amount. I pay my Amex by direct debit, and it takes the full balance owing. It doesn't have to be for the minimum payment only.