Credit card interest charges

[mutt k]

I have just been whacked for a large interest charge on my credit card as it appears my payment got held up in what is laughingly known as the first class post.

Does anyone have any experience of getting their credit card company to waive these charges in the face of taking the business elsewhere or do they just not give a toss?

[simpo two]

They might let you off for a first offence. I pay mine by DD so if it goes pear-shaped, it's not my fault.

[jimothy]

I only had £40 of interest on my Mint card (paid it all off a day to late). I phoned up to pay it off and cancel the card, and they offered to drop the interest charge if I didn't cancel... I said yes, interest was dropped, will be canceling the card in the new year

[gshughes]

I read something in one of the financial papers along the lines of if you complain about it being an "unenforcable penalty clause" they back down and refund it. Legally they are on slightly shakiy ground charging a big whack for just one or two days late payment.

[Ahonen]

jimothy said:

I only had £40 of interest on my Mint card (paid it all off a day to late). I phoned up to pay it off and cancel the card, and they offered to drop the interest charge if I didn't cancel... I said yes, interest was dropped, will be canceling the card in the new year

I moved to Mint earlier this year - found them very irritating to deal with. Their website is useless for anything other than looking at your balance (after you've tapped in a broad selection of passwords, PINs and usernames), their phone lines close at 6pm and they won't let you set up a Direct Debit over the phone because you have to sign a form...

I shall be cancelling the card this month.

[jimothy]

You forgot the tapping of over 36 keys on the phone to speak to a real person!

They are rubbish, but 9 months interest free was what kept me there at the time. Would never go back...

[stumartin]

I'd have thought that these days one could get by without paying interest on credit cards? Involves shifting plastic every 6-12months but no worse than with mobile phones.

[Ahonen]

jimothy said:

You forgot the tapping of over 36 keys on the phone to speak to a real person! They are rubbish, but 9 months interest free was what kept me there at the time. Would never go back...

Yes, I did forget about the phone key tapping, but as they're usually shut before I get home from work I've never had many opportunities to speak to them!

The interest-free thing was what attracted me, too - not the novelty card shape...

[condor]

I have a Sainsburys visa card which I use all the time - pay it off in full each month.
A couple of times I've had interest charged because of late payment (as in didn't get to them in time rather than being actually late in paying after the date due).

Both times I made a fuss and got the interest charge removed.

Make a fuss ...I'm sure they'll remove the charge.

[mcflurry]

MBNA allow an extra days grace before charging, and even then will drop the charge for a "first offence"

[Nevin]

Ahonen said:

and they won't let you set up a Direct Debit over the phone because you have to sign a form...

There is a good legal argument for them not letting you do this.