Went for a drink with some friends from years ago today.

One had done a credit card balance transfer (to or from Virgin - not sure now) then the card changed the payment date and had informed of this, but it was on tiny print on the statement rather than with a letter.

So - the discount period was ended.

As this was a penalty for paying late, is the interest charge that now applies to what would have been a free/low interest period a reclaimable penalty charge?

Bump!

I wouldn't normally think of interest as a charge, but I see your point. I'll see if I can get some opinions on this.

Great - thanks!

Discount rates on credit cards are dependant on there beind no late

or missed pay

ments, a charge of £12.00 is usually levied for a late

payment, Barclaycard will suspend the account on some occasions

if the payment is very late.

Yes, but what about the increased interest rate due to the cc provider bringing forward the payment date making the customer miss it? The date was put on the statement but not notified by letter and they didn't notice it. Because it was late the discount rate was removed and another rate imposed. Is that a penalty?

It is unfair business practice. BC when they notify

you of a late payment, require the next months

minimum amout.

It's been suggested that you write a nicely worded letter of complaint that the date was amended and not made clear.

Worth a shot I think.

It's been suggested that you write a nicely worded letter of complaint that the date was amended and not made clear.

 

Worth a shot I think.

Thanks guys.

He had written a letter asking to be reinstated upon the lower interest period, but it was declined. He then transfered elsewhere but felt ripped off paying two fees for a shorter interest free period.

I still see it as a penalty charge - and suggested returning to the original charges scenario where all charges risking external challenge would be repaid to avoid creating a precedent.

If the account holder does not keep to the terms and

conditions of the promotional offer the it is withdrawn.

OK thanks.

I'll try a letter for him anyway when I'm back as there's nothing to lose, and post the outcome.

What is the cost to a CC co for a complaint being escalated if disatisfied with their final response?

That depends on what you mean

by escalation.

I can see little merit for taking this

further.

I think it's about £500 for a complaint to be investigated by FOS.

I think it's about £500 for a complaint to be investigated by FOS.

Someone from ?Barclays? was in a group talking about PPI recently - they had been saying something along the lines of £800 was cheaper to pay out on, if it was a certainty the punter would progress to the regulator, to save the costs and man hours.