Credit Card Late Payment Fee?

[nev]

i got back last week from another month in thailand and when away i was unable to pay my credit card as i had not recieved the bill beore i left and it was due while away,well my gripe is i have been hit with a late payment fee of $25,now i dont mind paying interest or excess interest but this is dam right rude and too boot they are uping there interest rate charges from this month

this is a hsbc card after i pay this month i will not be using this card i will cancel and switch to my virgin card.

so has anyone else experienced this charge first timme i have been hit with it as i normally pay on time.

Edited May 17, 2005 by nev

[Dragonman]

Nev. Yeah this is now standard with most credit cards. As is a charge if the direct debit is returned.

[nev]

thanx dragonman they get you all ways now hey.

[Jai Dee]

Happens to me using American Express too... well used to.

Now I check my account details online and make sure I'm paid up.

Another option is to pump your account into credit before you go away... that way you have sufficient funds to pre-pay at least the monthly minimum balance without incurring charges.

[daveb1]

Sometimes if you complain and say you will close your card they give it back, honest! I have done it works if you have a good past record of paying on time. Try you have nothing to loose apart from your money!!

I hate banks

[nev]

Sometimes if you complain and say you will close your card they give it back, honest! I have done it works if you have a good past record of paying on time. Try you have nothing to loose apart from your money!!

I hate banks

<{POST_SNAPBACK}>

hey dave was thinking about doing the exact same thing i have a good record with them.

i have over 18,000 point with them and if i pay my next flight on the card i get $100 off,so that is one reason not to close straight away.

be worth a try calling and seeing what happens chhers mate.

[britmaveric]

Setup Autopayment or have someone pay when you are away. Unfortunately credit card companies do not care if u are away or not. Yes - they are bastards once you miss a payment, late or whatever. Normally you can ring them up and threaten that you will close your account and go elsewhere. They then will revert back to old APR and maybe even waive late payment.

[paulfr]

Calm down.

Cancelling can look bad on your credit report even though you are the one closing the account.

First call them and explain you were away and ask for the charge to be waived. Be polite at all times. If he/she turns you down, ask to speak to her supervisor. If you have been a long time customer mention this.

If you have never missed a payment mention this too.

No need to let $25 get you upset. These bureaucracies can be frustrating, but it's only life.

My 2 cents.

[nev]

fair comment paul i will try that tomorrow when i call.

ajso maveric i will definately set up auto pay from now on,as my next trip is for 2 months cheers.

[daveb1]

Dont agree about closing an account looking bad on your credit record, not true here in the UK. In fact open unused accounts are worse for your credit rating you should allways close credit card accounts down if you are not using them or you are moving your balance to another card.

[paulfr]

Dont agree about closing an account looking bad on your credit record, not true here in the UK. In fact open unused accounts are worse for your credit rating you should allways close credit card accounts down if you are not using them or you are moving your balance to another card.

<{POST_SNAPBACK}>

Dave

I am curious

Why do you say that " open unused accounts are worse for your credit rating "

I would agree having too large a sum total of credit can raise a flag to someone examining your profile (say 500K$ in credit card limits with a 50K$ income), but one or more unused accounts just means you are paying cash these days and not borrowing. I do not see why it is negative in any way. Please explain.

[daveb1]

OK Here in the Uk people often move from one credit card to another for 6 or 9 month 0% interest offers. If you dont close down your old cards, 1. they could still be open to fraudulent use by others as they are still open. 2.If you have a number of old cards that are still open and with 0 balances but large credit limits you could in theory fill them all up with purchases and have a huge amount of debt. 2 or 3 cards open with 0 balances is fine more that that i would say would have a bad effect on your credit history.

D ave

[bkk_mike]

If it's UK cards (HSBC and Virgin suggests it is) just set them up for direct debits of the minimum payment. (or the full amount for a card you use a lot, that you habitually clear)

That way, if you forget to pay on time, at least the minimum amount is paid, avoiding the late fee. (and if you remember, you can still pay whatever you want beyond that). The other way to do it is either via phone or Internet, paying with a debit card. (although for internet payment, you usually need to set it up in advance of your trip - and personally I wouldn't do internet banking from an internet cafe as you've got no idea if keyloggers or other nasty software have been installed on the PCs).

And remember - if you are using your credit cards when you're here - it's time you changed to Nationwide. - It's a lot cheaper when there's no FX spread applied to your foreign purchases and cash advances...

Edited May 19, 2005 by bkk_mike