Minimum Payment: £0 on Internet Banking but £25 on Statement

edited 30 November -1 at 1:00AM in Credit Cards
5 replies 974 views
Hutchy96Hutchy96 Forumite
23 Posts
10 Posts Second Anniversary
edited 30 November -1 at 1:00AM in Credit Cards
I've been tidying up old photos from my phone and came across a screenshot I took of my online account for my BA Amex card back in February 2015.

I remember that at the time, I was new to credit cards and I took the screenshot, because I had a balance to pay for the month, yet the online account was telling me my minimum payment was £0. Even though the card was not a 0% card, I believed this figure and therefore (incorrectly) assumed that therefore I didn't have to pay.

A few days later, I logged back into my account and noticed I have been charged a late payment fee and charged interest. I immediately cleared the balance and put it down to stupidity.

However, when I came across the old photo yesterday, I decided to check on my old statements. On checking my credit card statement from January 2015, it did say a minimum payment of £25 was required, but I never checked this, relying instead on the online account figure stating £0.

My question is, why would the statement from a few weeks prior to the payment date state the minimum payment was £25, yet 2 days before payment was due, the online account stated £0?

I can't seem to upload any screenshots, as I am a "New User".

Thanks
Adam

Replies

  • zx81zx81 Forumite
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    System or user error.

    There is always something to pay if you are carrying a balance.
  • brisbris Forumite
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    Why would you think there was nothing to pay if you had a balance? You had two option, trust the statement or the onscreen balance, you chose poorly.
    Considering you owed them money it was a no brainer really.
  • If the statement hadn't been generated bit you had just made the minimum/full payment for the previous month then online it would show up as:

    Minimum Payment: £0

    Once the statement is generated it should then show the following months required until you pay that off. If you looked at it on the day the statement was generated there may have been a timing mismatch.

    Edit: noticed you said 2 days before payment was due... may have just been an IT error in that case...
  • callum9999callum9999 Forumite
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    bris wrote: »
    Why would you think there was nothing to pay if you had a balance? You had two option, trust the statement or the onscreen balance, you chose poorly.
    Considering you owed them money it was a no brainer really.

    I have a crazy theory about this, bear with me...

    I'd say they thought there was nothing to pay because........ their account said there was nothing to pay and, being new to credit cards, they didn't know not to trust that.

    I'm fairly confident that's correct - mainly because it's clearly stated by them...
  • Hutchy96Hutchy96 Forumite
    23 Posts
    10 Posts Second Anniversary
    I have a crazy theory about this, bear with me...

    I'd say they thought there was nothing to pay because........ their account said there was nothing to pay and, being new to credit cards, they didn't know not to trust that.

    I'm fairly confident that's correct - mainly because it's clearly stated by them...

    Exactly. This was over 3 1/2 years ago now. Never missed a payment or paid any interest on cards since. In fact, made quite a bit of money from them. Guess it was an early lesson :)

    Maybe it was an IT error, or whatever, but yes I should have known that a payment would've had to have been made. I just put things down to timing issues, but obviously much wiser now.
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