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Original poster

Credit card 0% interest lost HELP!!

53 replies

Duchess89 · 15/01/2023 18:36

I feel this is so harsh of Sainsburys Bank!

I got the Sainsbury's Bank credit card in July last year. Have a very strong credit history. We we're having our new extension done and put the new kitchen appliances on there and well as other things as it was 0% for 2 years. Credit limit 11,000.

Anyway at the start of December I put an amazon order on there and went over by £4.98. It was a delivery charge that I wasn't anticipating and just didn't realise.

That was the 6th December. Didn't realise until the 17th. I saw a £12 over limit charge and that the balance was £11,016.98 (£12 of that being the charge!!) and immediately send £20 over to clear it.

I have made every payment, none have been late, and always pay over the minimum. They have removed the 0% interest (no email about this) and have just charge £188 interest for this month.

What can I do? Was planning on keeping this card for a while and paying back towards the end of the year but now panicking massively!!

OP posts:
Tinkerbyebye · 15/01/2023 18:38

Find another one and do a balance transfer

PotteringAlonggotkickedoutandhadtoreregister · 15/01/2023 18:39

Balance transfer to another interest free credit card

Boswellonthesteps · 15/01/2023 18:39

Have you still got your t’s & c’s from when you signed up to the card? I have a sainsburys credit card and they made it very clear that if you go over your limit or miss a payment they will withdraw the promotional rate straight away

Boswellonthesteps · 15/01/2023 18:41

Sorry posted that too soon! It may be worth checking yours if you can find it to see if they’ve specified that. If they have then like others say you may need to take out another card and do a balance transfer

otherwayup · 15/01/2023 18:41

I don't mean to sound harsh but you've maxed out a credit card, to buy kitchen appliances etc?!

Why oh why do people do this? Whatever happened to saving or waiting until you can actually afford new kitchens etc.

If a £4 delivery charge took you over your limit, then you are clearly living beyond your means op!

Paq · 15/01/2023 18:41

It does sound harsh, maybe you can call them and beg forgiveness but if you've breached the T&Cs then I guess they can do what they like! Even if you transfer to another 0% card there will be a balance transfer fee.

SomethingOriginal2 · 15/01/2023 18:42

Balance transfer to another. It's entirely your cock up and it's pretty legit. You could try ringing and begging but it wasn't the smartest idea to max out such a big credit card. The 0% usually only lasts a year, you were gonna be screwed over it anyway I think.

gamerchick · 15/01/2023 18:43

Tbf it does look like you're a credit risk now if you can max out a 11 k limit like that OP. So now it's expensive as your credit score has now taken a ding.

I'd try to transfer before your credit score updates.

Hellocatshome · 15/01/2023 18:44

Contact them. I've had issues with my DD lately where it has been taken but then refunded so I was charged the late fees. They were very helpful when I contacted them. At the moment it will just be the computer doing this but if you speak to someone who can see how quickly you made payment after realising and apply some common sense you may be pleasantly suprised. If not transfer it to another 0% card.

CharlotteStreetW1 · 15/01/2023 18:45

otherwayup · 15/01/2023 18:41

I don't mean to sound harsh but you've maxed out a credit card, to buy kitchen appliances etc?!

Why oh why do people do this? Whatever happened to saving or waiting until you can actually afford new kitchens etc.

If a £4 delivery charge took you over your limit, then you are clearly living beyond your means op!

We put as much as possible on a credit card - better consumer protection - and then pay it all off at the end of the month. Perhaps this was the OP's plan.

Babyroobs · 15/01/2023 18:46

Why would another credit card company offer 0% ?? What's in it for them?

CharlotteStreetW1 · 15/01/2023 18:47

CharlotteStreetW1 · 15/01/2023 18:45

We put as much as possible on a credit card - better consumer protection - and then pay it all off at the end of the month. Perhaps this was the OP's plan.

Show quote history

Apologies otherwayup. Ignore me. Have re-read the OP. It clearly wasn't the plan.

ReviewingTheSituation · 15/01/2023 18:47

You may be unlikely to get another 0% card, as the charge will be on your file.

Have a look at aggregator sites and do a soft credit search before you apply for a new one, as applying for more credit now, just 6 months after a credit line of £11k will potentially ring alarm bells.

CiderJolly · 15/01/2023 18:50

If your partner has a good credit score get them to transfer it to a 0% interest credit card in their name.

Testina · 15/01/2023 18:50

What do you do?
Well obviously, ask them to review it and hope they make an exception.

But bloody hell you were sailing close to the wind! Mad!

Laney79 · 15/01/2023 18:51

It's worth trying them to see if they'll do a gesture of goodwill-if you've always paid on time and they can see that they may take pity on you. But do it asap. If not as others have said balance transfer-use money saving expert to do a comparison and see what your chances are of being accepted for another card.

Original poster
Duchess89 · 15/01/2023 18:51

It is a lot, we have about 15k worth of debt overall from our house renovation. It's not all appliances, it's flooring etc. We were going to pay it all this year, which should have been manageable. I've always been very good with money and managing credit and things like that, I understand not all like to use credit and it IS better to save up. However had we waited the cost of the project would have been so much higher! So swings and roundabouts.

It is, ultimately, my cock up, but its £4.98. If I'm gonna cock it up I'd at least like to do it properly!

I think first step is to call and beg.

OP posts:
juliej00ls · 15/01/2023 18:53

I sympathise I have used one of these and made a mistake fortunately only got the fine your situation is a harsh penalty for your mistake.
stay calm contact your own bank and see if you can move the loan somewhere else. Good luck

TheHateIsNotGood · 15/01/2023 18:54

And THIS is exactly one of the reasons why so may credit cards offer 0% balance transfers. You need to take care with new 0% transfers to ensure that you meet the minutae of the T&Cs; the biggest 'fail' I've found is the first 2 months and delays in embedding Direct Debit payments, so I ensure I make direct payments to cover the Min Payments until the DD is in rhythm.

Watch out people - any transgression can mean you lose the 0% rate and go to standard APR rate.

A lesson well-learned OP that you won't make again. As PPs have suggested, find another 0% transfer deal pronto.

WeepingSomnambulist · 15/01/2023 18:55

So the kitchen was in july? So you maxed out the card in the summer paying for appliances and renovation add ons, and you've been paying back more than the minimum every month... so how were you still just shy of the limit for an extra £5 to take you over?

It sounds like you maxed it out, pay off a bit each month but then spend it again. And pay back a bit... then spend it again.

You'll never get out of debt like that. You got it for a purpose; doing the kitchen. That is done. Now, every time you pay off a bit of the card, you need to consider that money gone. You pay off £200 then that £200 is gone. You dont have it there to spend again. It is gone. Stop spending on the card and get your debt paid off.

You went into debt for the kitchen. Fine. Dont stay in debt for random purchases every month.

Tohaveandtohold · 15/01/2023 18:56

If you were that close to the limit that £4 delivery charge will send you over the limit, you shouldn’t have been using that card in the first place. You’ve broken your t&cs and they have the right to withdraw the offer.
I feel the best thing to do now is check your credit score and see if the over limit, etc has not updated yet and if not, quickly get a new 0% balance transfer credit card and transfer the balance over. There’s always a fee but it’ll be less than what your interest in 3 months on this current card.

ColdHandsHotHead · 15/01/2023 18:56

I've always wondered how lenders make 0% credit cards pay. This is presumably how. Sorry OP, I know that doesn't help you.

StaffordLou · 15/01/2023 18:58

Have you called sainsburys? They did the same to me, I wasn’t over the limit but just removed my 0% and started charging interest about 14 months before end of agreed term. When I called them they apologies profusely, saying it was an error with their systems and refunded me all the interest payments that had been charged and sent me some vouchers when I complained further.

I know it’s not the exact same situation but their systems are crap, so worth checking it’s not a problem their end!

Zombiemum1946 · 15/01/2023 18:59

Call and beg (worked for us over a mix up but we had very little debt on the card) but in the meantime search for another card for balance transfer.

myfavouritemutant · 15/01/2023 19:08

I do feel that they should have informed you of the change, even though you breached the terms and conditions. I’d make a formal complaint along those lines if ringing and asking them nicely doesn’t get you anywhere.