Late Payment Charges.

johnllew

exel1966 wrote: »

I've nothing to be weary about regarding the procedure and Mint cards. Four years experience without a single late payment charge and without a late payment being registered to the CCA's is proof enough to me !

Times change; I've been at this game for 14 years and if I'm warned by CS that the procedure has changed, I take note. Look at it this way: my Lifeboats balance is usually around £8k. I used to pay it off by DC the day before the due date (never a good idea to always leave till the last day in case their systems are down, which has happened). So by paying it 3 days early, I lose maybe 2 days interest, perhaps £2.50. Compare that with the cost of paying late: interest on £8k from the transaction date to date of payment @ 16.6% = £200 plus a late payment charge? Why take the risk?

exel1966

johnllew wrote: »

Times change; I've been at this game for 14 years and if I'm warned by CS that the procedure has changed, I take note. Look at it this way: my Lifeboats balance is usually around £8k. I used to pay it off by DC the day before the due date (never a good idea to always leave till the last day in case their systems are down, which has happened). So by paying it 3 days early, I lose maybe 2 days interest, perhaps £2.50. Compare that with the cost of paying late: interest on £8k from the transaction date to date of payment @ 16.6% = £200 plus a late payment charge? Why take the risk?

I hear what you're saying John, but I'm probably advised by Mint c/s agents ( + Amex when I had one) approx 30% of the time when I call to make my DC payment that my payment is too late and I will probably get charged interest/a late payment fee, BUT I know exactly how their system works and know that there is NO chance of this happening as the past 4 years have shown.
Believe me I wouldn't risk the damage on my credit record let alone my pocket If I thought for a minute I was leaving myself open to these problems. Obviously you have to do what you think is right for you.

One thing I ALWAYS do after chatting to any c/s agent in general is to call back and double check, even triple check. I learn far more from this/associated sites than ANY c/s agent could possibly tell me.

chuckley

your fault for paying by cheque. u never know when they will bank it and when it'l clear. u shoulda just done it at the bank if you dont do online banking or d/d.

jessielou_2

If you read my original post correctly I did pay at the bank with cash
the second time.