Credit Card - why have I been charged a late fee?

[Frankie_W]

Hi, some of you have already helped me with my credit card ignorance, but I'm in trouble again

A very small minimum payment was due on my credit card on the 23rd of this month (about a fiver).

Between the 11th and the 21st I withdrew e400 from the account but lodged e1,020, which I assumed would mean the minimum payment was more than sorted.

But I have been charged a late fee

How does that work? Am I meant to pay the minimum payment on the exact date (ie does what went in to the account before not count??)?

This was my first payment with this company (it's a new card) and I already have a missed payment against my name - disaster.

I'll ring them tomorrow to speak to them but - and be harsh as you like - is my complete stupidity to blame for this?

Thanks.

 

[ClubMan]

Cash advances normally attract charges and/or interest immediately. There could be a fixed charge for the advance as well as interest as long as it remains unpaid. Unless the account was in credit before the withdrawal was made then you will probably be legitimately charged a few or interest. Check the terms & conditions and charging structure of your card to be sure.

 

[Frankie_W]

Cash advances normally attract charges and/or interest immediately. There could be a fixed charge for the advance as well as interest as long as it remains unpaid. Unless the account was in credit before the withdrawal was made then you will probably be legitimately charged a few or interest. Check the terms & conditions and charging structure of your card to be sure.

Thanks Clubman, will check it out. Do I get a big dirty black mark beside my name now in credit history terms?

 

[ClubMan]

No - this is not the same as a missed payment on a loan/credit agreement. It seems to be a normal CC operation charge (for a cash advance). If you missed the minimum payment on your monthly statement then that could be logged as a missed payment with the ICB although I don't know if a single missed payment would result in this happening or if CC providers only log missed payments after several missed minimum payments in a row or something.

Unless you mean that the charge was indeed described as a "late fee" on your statement? Perhaps you can clarify exactly what the statement says about any charges incurred in relation to this cash advance?