CreditCards Blog

I have set up my RBS credit card to have the minimum payment every month. Should they take enough to make sure that I do not go over my limit?

For example, my limit is 1000 and i had a payment taken off. The interest for the next month was then added on and took me over the limit for which they charged me 12 overlimit fee. I let this go as I thougth it was my fault and presumed that my next minimum payment fee would be set to take enough off to cover interest etc but the same thing has happened again!!

I am now wanting to pay my card off in full and was wondering if I was entitled to claim these over limit fees back? :mad:

The minimum payment doesn't change even if you're over your limit, so the DD will never change either, unless you change it to the maximum collection amount.

If you're over your limit, you need to make a manual payment yourself to bring your account sufficiently under its limit so that the next amount of interest will not put you back over.

You shouldn't presume what your account will do, it's always best to call the lender and ask them if you're assumption is correct.

In this case you were wrong and any refund RBS offer would purely be as a goodwill gesture. The fact that you let it happen two months in a row might make them less likely to offer any refunds.

We learn by our mistakes.

Thanks for the reply.

Usually on my credit cards my minimum payment changes automatically depending on how much i owe and i don't have to change my dd.

I will give it a go since i am paying off in full anyway!!

Thanks Again:T