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[#1]

Hi there,

So I've been on the chat line trying to work out my next Credit Card Payment with all of my Easy Instalments.

I have to say it is near impossible to do without contacting someone - but I understand how to work it out now... but I want to confirm one aspect that the advisor told me on messenger.

So I already have two easy instalment plans set up and have already made 1 monthly payment on them both. I have other transactions as well which aren't on payment plans which form part of the statement. 

My statement arrived on 17 December and it's balance is due on 11 January. After the statement was issued I took up an Easy Instalment offer on one of the transactions on that statement.

I now know to work out my payment due I needed to take the closing balance, minus the transaction I decided to take up the third Easy Instalment Offer on, minus the remaining balances of my existing plans, then add on the monthly instalments due. 

Now I was doing this based on adding the monthly instalments due on the three plans, however the advisor told me that the new plan I just signed up for won't be due on this statement even though the original transaction is on this statement, so I only need to add on the  monthly instalments on the two existing plans. The first instalment on the third plan will be due on the next statement.

Can someone else confirm that is the case? I would hate to underpay the current statement if that first instalment on the third plan is expected by the 11 January? I've read the terms and conditions, but I can't find where it tells you what happens when you take up a plan on a transaction after the statement for that transaction has been issued.

Thanks

[#2 · Accepted solution]

Hi @cricklyon, what you've explained is correct.

You'd need to pay the statement balance MINUS the combined total of the remaining balances of your three Easy Instalment plans PLUS the combined total of the two monthly Easy Instalments showing on the statement. 

[#3]

Thanks Meg. But unfortunately your system needs updating, as it charged me interest as I didn't pay off the entire original statement amount.

I cleared this up today on chat with customer service who have reversed the interest charged.

The original statement amount included the full amount of the 'third easy instalment' which I was offered and took up after the statement had been created, but before the due date.

And despite the forum and chat officers agreeing on what my new full balance to pay off would be with the three easy instalments now to be taken into consideration, and despite me paying a bit more that that amount, the computer system couldn't deal with the third easy instalment set up happening AFTER the statement was issued even thought it was BEFORE the due date and charged me interest because I didn't pay the original full statement amount.

I think that needs to be looked into because other people may have had the same thing happen and not have picked up on it. 

[#4]

I'm so sorry to hear that @cricklyon, but I'm glad we were able to reverse that interest for you. 

I've passed your feedback through to our Credit Cards Team.