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Credit Card company problem

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  • 07-09-2009 12:11pm
    #1
    erictheviking
    Closed Accounts Posts: 102 ✭✭


    Hi all,
    Maybe I could get a bit of advice from boardsies.:)
    I have 2 credit cards. 1 almost maxed. I recently received a letter from CC company offering me a promotional rate on a balance transfer of 0% for 6 months. I transferred my balance to save a few bob on interest payments and try to get the debt down a bit but my credit card bill arrives and I'm being charged the full rate of interest.:mad: :mad:.
    I'm fecking fuming. I e-mailed the company and they told me a payment was late in June ( I had to make a min payment of about €20 and forgot) so the promotional rate they offered me was cancelled. (Of course they didn't bother to tell me this until after I made the balance transfer).
    Do I have any redress here? Could I send a complaint to the ombudsman maybe? Or would I be just wasting my time?


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    #2
    whippet
    Registered Users Posts: 7,686 ✭✭✭whippet


    I would imagine you would have no redress ... if you check the small print in the promotional material I would imagine the offer was subject to the timely payments.

    As an aside, It would probably be in your better interest to speak with your bank regarding a loan to clear the cards and bin them.


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    #3
    BnA
    Closed Accounts Posts: 616 ✭✭✭BnA


    Unfortunately that is the norm with all those 0% Interest Balance Transfer offers. If you don't make your minimum payments during the 0% interest period, then all bets are off and you'll be paying full whack.


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    #4
    erictheviking
    Closed Accounts Posts: 102 ✭✭erictheviking


    Thanks for the replies folks, that's pretty much what I was thinking. I still think it was pretty sneaky of them not to tell me the 0% interest offer was off though. Banks just keep going DOWN in my estimation.


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    #5
    dudara
    Registered Users Posts: 33,518 ✭✭✭✭dudara


    Moved to Banking & Insurance & Pensions

    dudara


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    #6
    broker2008
    Registered Users Posts: 750 ✭✭✭broker2008


    Try clearing off the new one and then call again to see if they will offer same to you again. If so then set up mandate to pay minimum amount so you don't forget.


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    #7
    The Rooster
    Registered Users Posts: 4,510 ✭✭✭The Rooster


    erictheviking wrote: »
    Thanks for the replies folks, that's pretty much what I was thinking. I still think it was pretty sneaky of them not to tell me the 0% interest offer was off though. Banks just keep going DOWN in my estimation.

    You'll lose nothing by asking.

    Even if they are legally right, the ombudsman also protects the consumer where important conditions are not highlighted. Tell the bank that you are going to be ombudsman because it was not clear and when your bill came it did not highlight the fact that if you did not make the min payment, you would lose the 0% rate. That combined with the fact they'll lose your business if they don't co-operate should (in my opinion) mean they'll go back to 0%. If they have anyone with cop on to make the decision they should quickly conclude that they'll make more money from you in the long run if they give you the benefit this time.


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