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  • FIRST POST
    • EmmaEggbeer
    • By EmmaEggbeer 14th May 18, 4:14 PM
    • 3Posts
    • 0Thanks
    EmmaEggbeer
    ignore
    • #1
    • 14th May 18, 4:14 PM
    ignore 14th May 18 at 4:14 PM
    closed post.
    Last edited by EmmaEggbeer; 14-05-2018 at 5:32 PM. Reason: accident
Page 1
    • zx81
    • By zx81 14th May 18, 4:18 PM
    • 17,716 Posts
    • 18,841 Thanks
    zx81
    • #2
    • 14th May 18, 4:18 PM
    • #2
    • 14th May 18, 4:18 PM
    You could ask for goodwill, but it's unlikely.

    The late payment will quickly diminish in importance as long as you don't miss further payments. Consider setting up a DD for at least the minimum.

    Don't worry about the pretend drop in the fake credit score.
    • BoGoF
    • By BoGoF 14th May 18, 4:19 PM
    • 3,263 Posts
    • 2,595 Thanks
    BoGoF
    • #3
    • 14th May 18, 4:19 PM
    • #3
    • 14th May 18, 4:19 PM
    Ignore the score for one.

    Regardless of the reasons the credit card company are obliged to report the facts. Unfortunately for you the facts are you haven't met the minimum payments for 2 consecutive months.

    Set up a direct debit so that it doesn't happen again.
    • EmmaEggbeer
    • By EmmaEggbeer 14th May 18, 4:33 PM
    • 3 Posts
    • 0 Thanks
    EmmaEggbeer
    • #4
    • 14th May 18, 4:33 PM
    • #4
    • 14th May 18, 4:33 PM
    I did have a DD set up for the minimum payment each month but it went up by 1 which is how this all started.

    My main worry was because I was literally about to apply for a new balance transfer credit card as my current one is only a 250 limit as I got it when I was 18. Now this is happened I'm guessing credit card companies are going to be reluctant to give me a new one?
    • msallen
    • By msallen 14th May 18, 4:35 PM
    • 853 Posts
    • 937 Thanks
    msallen
    • #5
    • 14th May 18, 4:35 PM
    • #5
    • 14th May 18, 4:35 PM
    I did have a DD set up for the minimum payment each month but it went up by 1 which is how this all started.
    Originally posted by EmmaEggbeer
    I think you must be getting confused between a direct debit and a standing order. Set up a direct debit so that the minimum is taken regardless of what the minimum is.
    • spadoosh
    • By spadoosh 14th May 18, 4:39 PM
    • 5,280 Posts
    • 7,182 Thanks
    spadoosh
    • #6
    • 14th May 18, 4:39 PM
    • #6
    • 14th May 18, 4:39 PM
    I did have a DD set up for the minimum payment each month but it went up by 1 which is how this all started.

    My main worry was because I was literally about to apply for a new balance transfer credit card as my current one is only a 250 limit as I got it when I was 18. Now this is happened I'm guessing credit card companies are going to be reluctant to give me a new one?
    Originally posted by EmmaEggbeer
    Direct debits are requested by the company who take them, you give them authorisation to take what they request. So if youve got a late payment because they didnt request the right amount you need to complain to them.
    Don't be angry!
    • Gary_Dexter
    • By Gary_Dexter 14th May 18, 4:40 PM
    • 1,487 Posts
    • 847 Thanks
    Gary_Dexter
    • #7
    • 14th May 18, 4:40 PM
    • #7
    • 14th May 18, 4:40 PM
    I did have a DD set up for the minimum payment each month but it went up by 1 which is how this all started.

    My main worry was because I was literally about to apply for a new balance transfer credit card as my current one is only a 250 limit as I got it when I was 18. Now this is happened I'm guessing credit card companies are going to be reluctant to give me a new one?
    Originally posted by EmmaEggbeer
    A Direct Debit will take the statement balance or the correct minimum payment amount - this sounds more like a Standing Order you have setup.

    Yes an application may be affected - but then again only making the minimum payments rather than the full balance will also be a hinderance
    • molerat
    • By molerat 14th May 18, 4:47 PM
    • 18,934 Posts
    • 13,118 Thanks
    molerat
    • #8
    • 14th May 18, 4:47 PM
    • #8
    • 14th May 18, 4:47 PM
    Why are you only paying minimum payments on a card with only a 250 limit, who is going to give you more credit when you cannot pay off even that low an amount ? As for destroying the paper statements - do you not have on line access to the account ?
    www.helpforheroes.org.uk/donations.html
    • Dobbibill
    • By Dobbibill 14th May 18, 4:50 PM
    • 3,209 Posts
    • 4,106 Thanks
    Dobbibill
    • #9
    • 14th May 18, 4:50 PM
    • #9
    • 14th May 18, 4:50 PM
    Speak to the company - they may refund the charge as a goodwill gesture but it's doubtful they will amend your credit file.
    After a few months, it will become less significant.

    The score will rise and fall with the slighest activity so try not to focus too much on it, it's the data on the file that other lenders see.

    The DD should resolve the problem going forward. Whether you will be accepted for a new card with the limit/length of deal you want will only be clear when you apply. Maybe try an eligibility checker first so it's a soft search to give you a guideline.
    I'm a Board Guide on the Energy, Student Money Saving, UK Armed Forces and
    Local Money Saving - Wales boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.


    It's not about being the best -
    It's about being better than you were yesterday.
    • EmmaEggbeer
    • By EmmaEggbeer 14th May 18, 5:21 PM
    • 3 Posts
    • 0 Thanks
    EmmaEggbeer
    Why are you only paying minimum payments on a card with only a 250 limit, who is going to give you more credit when you cannot pay off even that low an amount ? As for destroying the paper statements - do you not have on line access to the account ?
    Originally posted by molerat
    I didn't post on here to be judged on the amount I'm paying, thanks. I do now but I was blocked out of it since December and have only just got back in.

    I think you must be getting confused between a direct debit and a standing order. Set up a direct debit so that the minimum is taken regardless of what the minimum is.
    Originally posted by msallen
    Yes I am, it's a standing order I have set up. I didn't realise the difference so I'm changing that now - thank you.
    • molerat
    • By molerat 14th May 18, 5:40 PM
    • 18,934 Posts
    • 13,118 Thanks
    molerat
    Not judging just questioning the logic of not paying it off. Paying interest to build your fictional credit score is foolhardy. Remember the words of St Martin of MSE, pay your card off IN FULL unless there is good reason not to.


    Look at it from a lenders point of view. You have a very low credit limit not being paid off and now 2 black marks.
    www.helpforheroes.org.uk/donations.html
    • Ben8282
    • By Ben8282 15th May 18, 1:42 AM
    • 2,378 Posts
    • 1,093 Thanks
    Ben8282
    What do you want a new balance transfer card for when the credit limit and therefore the maximum possible balance of the existing card is only 250?
    You have been locked out of your internet banking since December. Why?
    You have a father who opens your post and destroys your paper statements. Why does he do this?
    You set up a standing order which, reading between the lines, appears to have been for 5pm. Why did you do this instead of setting up a direct debit?
    To be making only minimum payments on such a low balance shows that you are unable to repay the 250 as why else would you be paying interest on such a small sum of money?
    Do you seriously imagine any lender is going to give you a new 0% balance transfer card to transfer a balance of 250 that you have demonstrated by making only minimum payments that you are unable to repay?
    Surely you spend 250 per-month on things that could be paid by card. Could you not pay off this 250 and spend on the card each month instead of making only these minimum payments? You really are destroying your credit files by doing this.
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