Halifax - Standard practice?

bigozz

My grilfriend has just discovered that her card statements have been sent to her old address for about 4 years.

She contacted the Halifax and discovered that she'd been paying their minimum payment throughout the 4 year period.

Despite this, her debt has ballooned from £500 to near £1800.

I've examined the statement and it seems that the £40 minimum payment has had a £12 overlimit and a £13 repayment cover fee deducted each month so the debt has risen due to these deductions.

My question is, should the bank have taken these deductions into account when calculating the minimum payment?

Ta in advance.

lic

No, I don't think they should have.
But 4 years sending the statements to the wrong address, suggests that the card holder did not inform them of an address change. Surely the card has been re issued as for a cc to last 4 years seems too long to me.
Why did your gf not check her bank statements, and spot the dd?

bigozz

She claims she informed the bank of the address change.

I'm astounded that a CC company can set a minimum payment which will increase the debt.

It's not a reissue, nothing has been spent on the card during the 4 years.

So it looks like she'll have to lump it then.

Thanks for the response.

johnmoney05

That doesn't make sense. A credit card doesn't valid for 4 years? The most would have been 3 years, some 2 years. The new replacement card sent to the registered address. Maybe your girlfriend can explain this?

jonesMUFCforever

Yes she can but then she will look stupid to OP so strung him a line.

~Beanie~

How can she not realise that she hasn't been receiving statements for 4 years?