Strange Credit Card Payment

Apr 19, 2005 1 Replies
R

I have a credit card and I cancelled the direct debit intending to start a new mandate. I missed the window for the next payment but noticed that the credit card company had actually acted as if the old DD was still in place and credited the full amount. But paradoxically they also charged interest as it had not been payed. At this point I had not paid a penny.



My question is this. If the bill says they have credited the full debt, then are they legally bound to have paid it - mistake or not? Secondly, if the bill still has to be paid, can I void the interest payment on the same grounds?



Thanks,



Roland.


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E

............................................................................................ It could be that payment received was on last date before statement printed and that next statement's first entry will show a contra entry (ie your bank 's refusal to pay d/d as it had been cancelled) so in effect you have not paid and the credit card company are entitled to charge you interest (and presumably a late charge fee). Some banks show cancelled or unpaid d/d on statements( where claimed) other banks only show those that are actually paid. Eric

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