Charges refunded

[efunc]

Well, I went over my £500 limit by £8.28 and also failed to make a payment on the 8th of Feb this year. On the 13th Feb, as soon as I realised what had happened, I immediately settled the account in full as I do every month. Unfortunately I was charged two £12 penalty charges for exceeding my limit and another for paying 5 days late.

 

The good news is that I called them today, prior to writing them a letter and they agreed to refund the late payment fee in full and half the Over Limit fee. I accepted this offer on the basis that it saved me some letter writing and just leaves me £6 in arrears.

 

However I also asked them if they could lift the 'default' notice added to my credit receord, and they said that wouldn't be possible. Is that correct? I'm guessing it is becuase, after all, I did forget to pay on time.

[Michael Browne]

Are you sure this is the reason for the default? It would be very unusual for a bank to mark a default on your credit record just for being overdrawn and to do it within such a short time

[efunc]

I haven't actually checked my record. I just assumed there would be a default and asked them if they'd consider removing it since I have been very good making payments and have been a loyal card holder for over 20yrs! They immediately answered that they could not do that because I had made a transgression. Do you think that was just a stock reply?

[slick132]

I don't know about BC with regard to this but I do know that M&S Credit Card marks late or missed monthly payments against your Credit Rating info.

 

If the problems has been sorted, then it will show as a one-off late/missed pay't and subsequent ones will show as up to date.

 

Don't know if this is a Default as such but I doubt there's anything you can do about it.

 

Keep the pay'ts up to date now if poss and your record will look better each month.

 

Slick

[efunc]

thanks for that. I pretty much presumed that. I guess I'll just have to put it down to experience. It's just a shame that I was hoping to apply for my first mortgage this year.

[slick132]

It may not be a prob - just a minor blip on the record, which will also show you've kept it OK since.