Easy Money

  hssutton 21:48 01 Oct 2009

£51.44 in my wifes case. If you're prepared to argue that is.

My wife made a purchase of approx £600 using her credit card, which she intended paying off over two months. Payed so much off the first month, when the second statement arrived the total balance was £318.34 including interest charges. This was paid well before the due date.

This months statement has now arrived showing a new balance of "Interest on your standard balance of £1.44.

My wife was rather annoyed to see this new balance and phoned the credit card company. They spent some time explaining that owing to a new system of calculating interest she would have to pay the £1.44, but my wife was having none of this and was eventually transfered to supervisor.

After approx 10 minutes of the same argument my wife told the supervisor what to do with the credit card. The supervisor then said that she would waive the £1.44 interest and offered £50 which would be credited immediately to her account.

So a 20 minute row over the phone and my wife was £50 in credit.

Pays to argue.

  oresome 22:21 01 Oct 2009

As my manager used to say to me....

"You never win an argument with an aggrieved customer, you lose them."

  spuds 23:05 01 Oct 2009

I had a similar dispute with Barclaycard a few years ago. Took 4 account managers with different opinions to that of myself, and one senior manager to agree with me, and waiver all 'supposed' charges, before satisfaction was resumed.

As stated: It pays to argue!.

  dagnammit 08:32 02 Oct 2009

It's seriously annoying though... to quote the "book", take an earful of a customer and then have a manager give the customer what they want "just this once" of course.

When I worked on the shop floor for a different retailer. I'd simply quote policy once and if the customer disagreed I'd simply say "excuse me for a minute and I'll call the manager".

He soon became aggrieved as much as thge rest of us. He asked why I kept calling him and my answer was that he always gave the customer what they wanted, and I couldn't, so I was just cutting out my earache.

  interzone55 09:27 02 Oct 2009

Did the bank explain how this new way to calculate interest works?

My credit card statement is cleared down monthly, but there is a line on the statement showing estimated interest charge if I only clear the minimum payment.

I wonder if they've accidentally charged this even though the card as been cleared?

  hssutton 13:15 02 Oct 2009

It was my wife who was speaking to the card company,they did try to convince her that this is a new way of charging interest. They also told her it was very complicated. So complicated that my wife did not understand, even after it was all explained to her.

If the statement is cleared (as it should) each month then this interest does not apply

  interzone55 16:10 02 Oct 2009

Sounds like male cow poo to me.

I'm not aware of any credit cards that impose interest even if the statement is cleared by the due date.

Barclaycard tried to charge Payment Protection Insurance even though the balance was cleared. I threatened to cancel the card if they didn't remove the charge and cancel the insurance, which they did...

This thread is now locked and can not be replied to.

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