Had a credit card late payment, Help please.
Discussion
I was checking my credit card bank statement this month and noticed a £12 late fee. Normally I normally quite good at payments. I dont tend to pay on a set day but roughly the same time each month. But due to this episode I have now decided to set a direct debit so this cant happen again. However my issue is I cant seem to work out why my payment was late. Here is a break down of the past month and a bit, bearing in mind that its one of those cards were if you pay the £25 minimum you don't get charged.
August statement:
Period 24 Jul 2014 - 23 Aug 2014
Minimum payment by 12 Sep 2014
I made a £150 payment on the 25 Aug 2014
September statement:
Period 24 Aug 2014 - 23 Sep 2014
Minimum payment by 13 Oct 2014
I made a £400 payment on the 22 Sep 2014
The late payment date was applied to my account on the 13 Oct 2014.
Thanks
August statement:
Period 24 Jul 2014 - 23 Aug 2014
Minimum payment by 12 Sep 2014
I made a £150 payment on the 25 Aug 2014
September statement:
Period 24 Aug 2014 - 23 Sep 2014
Minimum payment by 13 Oct 2014
I made a £400 payment on the 22 Sep 2014
The late payment date was applied to my account on the 13 Oct 2014.
Thanks
Your £400 payment (intended for September) was made before your September statement was produced.
Seems like you just made an honest mistake so it could be worth calling them to see if they will refund the charge (and also ensure that a late payment marker is not recorded on your credit file).
Seems like you just made an honest mistake so it could be worth calling them to see if they will refund the charge (and also ensure that a late payment marker is not recorded on your credit file).
Vyse said:
Ah thanks, so I should have paid a day later.
If I paid before the statement was produced how could it be a missed payment because I don't even have the next statement which should arrive sometime later this week?
Thanks
The system needs to see a payment between the statement date and the "due by" date shown on that statement. If there is no payment and an outstanding balance, it automatically counts it as a late payment.If I paid before the statement was produced how could it be a missed payment because I don't even have the next statement which should arrive sometime later this week?
Thanks
I'd certainly call them and object - I've done that a couple of times in the past but the late fee used to be £25 and was reduced by card providers some years ago under pressure from the regulator.
Your payment window of 20 days is pretty tight - we run 4 credit cards and they're all near enough 30 days. Yours spans the end of a month so that would be a good point to pay - I set the payment date manually each month using online banking as soon as I get the bills.
Your payment window of 20 days is pretty tight - we run 4 credit cards and they're all near enough 30 days. Yours spans the end of a month so that would be a good point to pay - I set the payment date manually each month using online banking as soon as I get the bills.
Why not just set up all cards to pay the minimum payment? Guarantees you never miss a payment and then you can pay anything additional manually?
I'm a bit paranoid and have DD's set up on all my cards with zero balances to ensure there's never a balance due a payment that I'm not aware of, such as a recurring payment like an annual RAC subscription payment that I've forgotten which card details I've given!
I'm a bit paranoid and have DD's set up on all my cards with zero balances to ensure there's never a balance due a payment that I'm not aware of, such as a recurring payment like an annual RAC subscription payment that I've forgotten which card details I've given!
Simpo Two said:
Sooo - if you pay early it appears as a late payment (and fks up your credit score). Terrific, well done computers.
If you pay before the payment is due then it's simply taken as an overpayment for that month, they obviously can't forsee that the payment received has been accidentally sent early and should therefore be taken as next months minimum payment instead.....jammy_basturd said:
A computer can't be programmed to read minds, nor should a computer ever make assumptions on your behalf.
It might be able to compare credit with debit though.As in 'The amount owing is £5,000, oh look here's £4,000 credit, so there is now (clunk grind whirr) £1,000 owing.'
If I lend someone a tenner until Friday and they pay it back on Thursday, I don't go round on Saturday and demand my tenner back.
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