Error from Dominic Furniss

2212

How annoying… I only use my credit card infrequently. The total is automatically paid from a bank account. However, this is not my main bank account so I need to remember to transfer appropriate funds to it. I used the credit card for some recent payments (a wedding) which meant it was far larger than normal. I had enough money to pay it but it wasn’t in the account that it was due from. Also, I’ve just found out that if the total is not available then the credit card payment is declined completely, i.e. not even the minimum payment is taken. So because of this #slip error I have gained a penalty fee (£12), interest on the outstanding money (£40), and my card has been suspended until I make the payment. Simple slip and it’s £’s and blocked :( #errordiary #slip #finances.
It’s made me realise that the bank and their credit card arm don’t really talk to each other.
Would be lovely if there was a grace period and they alerted you if insufficient funds are available (e.g. automatic text).
It’s made me think there’s little incentive for credit card branch to reduce these errors – they make money from these fees after all.
I think it’s time I closed that account, and get a credit card that’s linked to my main account. I might not be able to change the design of the banking systems, but I can make the system that I work with simpler.

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