118 118 Money Credit Card - They've just decided to change my direct debit date

[mike00]

So first of all, some facts about me:

 

1. My payday is the last working day of each month

2. When I signed up with this company I chose the 1st of each month as my DD date to ensure my pay from work had cleared in my account

3. The 118 118 Money Direct Debit Guarantee says they will give five working days' notice of any changes to the date (this is less than the standard DD Guarantee of 10 days)

 

Today, at 16:18 they emailed me saying my date was changing from the 1st to the 29th. That means my next payment is Friday morning, less than five working days away!

 

My budget is managed down to the penny. I do not have any available funds until my payday, which will be late on Friday afternoon. By time I'm paid, this direct debit will have bounced which will result in bank fees and possible damage to my credit rating. Often, the 29th will be before my payday which is even worse.

 

How can they do this? What are my rights? I've sent a complaint to them demanding they change it back.

 

This is the reasoning they gave:

 

Quote

 

We often review our customers’ accounts and payment dates. Our recent results show that customers are benefiting from an earlier payment date and reducing the impact of missing payments and unnecessarily damaging credit files.

As a result, we’re letting you know we will be changing your payment due date from 1st to the 29th of every month. As you have a Direct Debit set up this will now be taken on or around the 29th of every month.

 

 

I don't understand it at all. They are implying an earlier repayment date will benefit me by reducing the chance of missing payments and damaging my credit file - but it will do the opposite!

Edited July 22, 2022 by mike00

[dx100uk]

Goto your online banking portal.

Cancel the dd so you dont get fees.

 

Then manually pay them when you have the money.

 

Write to them, tell them you do not accept the change ans you dont have too under the dd gurantee rules, then rest one up from next month on the date you wabt.

 

Irs tour money! Take control of it.

 

On another point..why are you using high int fleecers??

 

Not the way to resolve money issues!!

 

DX

[fkofilee]

Raise a formal complaint that by moving the payment date they are negating this 

 

Quote

 Our recent results show that customers are benefiting from an earlier payment date and reducing the impact of missing payments and unnecessarily damaging credit files.

 

[Peteypoos]

Hi there Mike, 

 

I had the exact same email, and issue with my 118118 credit card,

 

I contacted them via the in app chat support, they were very helpful, and confirmed that my due date will be not be changed as I have informed them it is not beneficial for me,

 

I can continue to make my payments on the first, only difference is that I don't pay via direct debit, so you may have to cancel that and pay it manually, but talk through it with them