cred cards, why is an early payment classed as late?

[timwilky]

OK in April my credit card balance was £0 so I paid nothing to the card company. but in May I spent some money on the card and 13th May paid £100 to the card company, a few day later my statement arrived showing my expenditure but not the payment. Requiring I pay £25 by 4th June.

Knowing I had made the payment I did nothing. I now find I have been charge for a late payment. I am attempting to getting in touch with them to get the money refunded and more important the late payment allegation wiped out. Been waiting 2 days for them to come back to me.

So why is an early payment ignored? yes it is shown on my current balance that I did make the payment when I claim.

[Owenski]

Not having much luck lately are ya pal.

Sorry they've tried to do you over, maybe another example of attempts to fine the complacent? Many people wouldnt even check the bill and so it would be paid with out question, feel like Im seeing a lot of this lately with random fines/addidional fees added to bills etc.

[Quedos]

becuase they are baw bags!

don;t wait for them to phone back - get on to them - talk politely to the supervisor and state that if you don't get an answer in two hours you will phone back until you do. then phone every hour - they soon sort it out

[dizzyblonde]

Bank holiday? They usually c0ck up the timings for payments. you have to make payment x amount of days before the date, and if one of them is involved it always buggers it up.

[TamSV]

It's all computer generated. If there's no payment between the date of your statement and the due date then computer says no! The parameters are probably as basic as that.

You need to get a human being to look at it.

[454697819]

no its because of the cut of day of your statement.

If the statement was generate on the 25th of the month and you pay £100 on the 24th that counts against payments made on the last statement, you then pay more the following 25th of the month and you missed the statement date by a day.. bang goes on the LP charge

You will then need to pay some more in the next "statement period" to avoid these stupid late payment things, I get caught out once everynow and then by doing what you did, i.e trying to pay off the bill.. flipping typical to be honest :-)

LP charges only effect your rating if you have lots of them or they get out of control.

[Viney]

OK in April my credit card balance was £0 so I paid nothing to the card company. but in May I spent some money on the card and 13th May paid £100 to the card company, a few day later my statement arrived showing my expenditure but not the payment. Requiring I pay £25 by 4th June.

Knowing I had made the payment I did nothing. I now find I have been charge for a late payment. I am attempting to getting in touch with them to get the money refunded and more important the late payment allegation wiped out. Been waiting 2 days for them to come back to me.

So why is an early payment ignored? yes it is shown on my current balance that I did make the payment when I claim.The ammount of times i had the conversation with card copmanies. Its all to do with with when thier statement run is etc etc. It didnt explain that there was no balance so therefore should incurr a charge. It got exponged all the time, and i just used to wait for the statement to come in

[keithd]

Twice ive had the same conversation with MBNA. I've paid when i've got paid - i.e first couple of days of the month, but because my due date is the 19th of the month their poxy system thinks its a payment from the previous month and i have to pay between the 6th and the 18th! sheeite system

and both times ive argued my case and got the late fees refunded

[Sir Trev]

Been caught out in the same way - complete PIA caused by dates and cutovers as mentioned above and sorted in moments once a human sees it. I never bother paying early any more and wait for the statement.

[timwilky]

Well it gets worse. The money I spent was in a balance transfer at 0% for 12 months. As they now class me as a late payer they have removed the promotional rate and moved be onto a new rate of 18.9%. but due to me contacting them they are going to reduce this down to 9.9%. I have now said if the promotional 0% is not reinstated I will have no option but settle the balance and cancel the card.

Who is this shower. Virgin Money. I make one small **** up and pay early and I am in breach of my T&C which will cost me money.gggrrhhh

[Stenno]

Credit card companies aren't our friends, and they don't like early payers, what's in it for them? (Yeah I know there are charges for the purchases albeit not sure if anything of that goes to the bank or just VISA etc.) Check your T&C's and give'm a call pleading ignorance.

[EssexDave]

Or complain to FSA for them clearly being ****holes and be done with it.

If there was a balance on your card previously, I could understand (potentially) the confusion between them claiming that is a payment for a previous month and does not fall in the correct period for the month in which you were supposed to be paying.

However, put it infront of a human, and they must notice that the payment was for the month you intended. If you threaten action with the FSA and say you are keeping track of your time and charging £15-20 per hour, plus £25 per letter and £10 per phone call, you will very very soon be sorted out.