flashrtp
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Isn't it obvious that you have a bank account in the bank that gave you a credit card which means they get their money from your account..after all the money you charged on your credit card was there money they let you use..now they want it back and have taken it from your account that you have with them..Yes sorry to say they have that right..Now being 2 months late if they report you to the credit agencies you are screwed..it hurt your credit big time, other credit card companies can raise your interest rates to the default rate (check your other credit cards fine print) your bank may do the same..Then again maybe they didn't because they got their money..wait about 30 to 60 days and get a credit report..If they did report you challenge it saying you understood that they could take the money and then why did they report you as being late since they had access to it all the time..( turn the table saying they screwed up for not taking it in the first place and waited 2 months like it's their fault) you might not win but it is worth the try if it happens to you..Good Luck! |
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RRM
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In your credit agreement it will state that they can indeed do this. Always read agreements before you sign that way you won't have any nasty surprises. |
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sandymisitano
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You need to read your contract with your bank. Contracts can be pretty hard to understand. Call your bank and talk to them. Don't be embarrassed, banks see or heard everything. They will help you. |
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paulaflory
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i am afraid this is common and is in the very fine print of your contract. even if you just pay the minimum each month it will stop them from helping themselves, best of luck and sorry for your troubles |
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cuddles_gb
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You need to read the details of the credit card agreement you signed with the bank - it's the type of thing hidden in the small print, and it may vary from bank to bank. It sounds possible that they might write this in if it's a bank's credit card. |
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kel b
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hope not,ive just missed this months payment |
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redsticks34
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didn't think they could, you need to look at the contract iwth the credit card company and see what you signed for, and talk to your bank |
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matt f
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did you make an agrement to say that they couldnt? if they did and when the problem stops you can ask them to make it so the card will not let you go over the limit (thats wat my dad did for me) |
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Phil O' Brien
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Yes, when your credit card was issued by the same bank you have an account with they invariably retain the right, in your account agreement, to satisfy your delinquent debt with funds you have on deposit with them. |
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billy
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not sure but I doubt they have done this illegally
I strongly advise you to pay your bills on time, trust me I am having problems getting a mortgage 5 years after having late payments on a credit card when I was a student. Simply not worth the hassle and you credit file is very hard to build back up |
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?
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well most credit cards company don't take money out of your checking account without you set it up first but there are a few if they have your information on your checks then they will do it anyway to get there money. I have a card myself and behind on it too. |
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Josh C
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im afraid they can, read your fine print....best to pay up on your own before they ruin your rating |
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traceylill
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To be honest I didn't think they could. Maybe they could take the lowest amount so that you wouldn't have to pay interest but to be honest I have never heard of this happening. The whole idea of a credit card is that you end up paying interest on what you owe. That is how they make their money |
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Lost and found
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So they took the money anyway and probably charged you into the bargain? Sneaky beggars! I didnt' think they could do this (invasion of privacy or even theft!) but as others have suggested take a look at your contract. I know you have to give them details of your bank account so they could get an accurate credit rating ............... I'm going to check my contracts now!
Good luck |
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private dick
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they are not meant to do this but they do...banks...they have us in their pockcets...litterally and metorphorically....call them and discuss it before you get those letters that cost £30 for a one liner...we have debited £30 from your account as you did not have sufficient funds to cover the above payment...although someone did take them to court...unfortunatly hesettllled out of court but it did set a guide for others in similar positions...if memory serves me correctly he got £5000...happy banking!!!!...lol |
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petersenmarilyn@sbcglobal.net
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I don't believe they can unless in the fine print it says so in your credit card agreement, talk to their corporate office some times the small Branch's don't have all the answers and what department is taking out the money. The other option would be to close your account also you can check in the phone book government pages under banking and that should give you a phone #. |
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SCOTT S
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No, They can not, but it will go to collection and hurt your dredit for the next 7-10 years |
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