Lloyds and Halifax change credit card repayment rules - make sure you don't overpay - MSE News

This morning I discovered the damage of this credit card rule change. Personally, it couldn't have come at a worse time for me. In the past I've often made big purchases on my credit card, waited until the statement arrive (which is often up to a month later), by which time I've been paid by my workplace, then I pay off the big purchase on my credit card. The remaining balance comes out of my direct debit at the start of the next month.

Well this month, out of the £1100 on my credit card, £700 was spent on big purchases, an unusually high amount for me. As a result of carrying out the usual paying process outlined above I paid £700 4 weeks ago, and today I've paid £1100 on my direct debit which would usually have been £400, meaning I've shelled out £700 more than I expected I would.

When you consider I only received notification of this rule change 3 days ago in the post, I feel very hard done by. There was nowhere near enough notice!

I'm going to complain to Halifax now, but if this doesn't go anywhere, are there any suggestions for someone else I should contact?

northwalesd wrote: »

I've still had no notification from Lloyds about the change.

I don't think I got one either but I read about it on here and got a text as soon as I made a payment. Unfortunately my card is about 750 in credit now but Halifax are refunding it to my account shortly

I got text message on 26/09 and it said reminder. Can't remember seeing actual information anywhere. It doesn't bother me, because I have 0% BT on it and pay set amount each month.

But I woud expect 2 months notice at least for such change.

Really interesting reading people's experiences above. I once complained to Capital One because my card did reduce the DD, leaving me with a balance and meaning I was charged interest. I've always assumed the DD would stay the same and any manual payments would be additional, but then I have generally always paid off my balance in full when not stoozing.

I have changed the direct debit payment setting to minimum payment temporally, as I don't want to cancel the DD with Halifax to lose Reward (2 pound).

I received a letter from Halifax to notify my change, Yes, Halifax actually intends to collect 9 pound against 0 pound outstanding. How odd they are! I will change back to payment in full again, (and they will send me another letter to notify me again !? What a waste.. )