swill453 wrote:If that's true then I'm staggered they think they can accept credits to the account but effectively ignore them and continue to charge interest as if they hadn't been made.
I believe this would breach the law change a little while back which meant credits had to be applied to the highest interest balance first.
I don't think they will continue to charge interest, but at the same time, they now won't adjust the DD. Using my example scenario from earlier today, I think it would be:
6th - $500 ATM (Interest starts accruing)
7th - Appears on account (just assume it converts to £450)
7th midnight - statement snapshot taken at £450
8th - £450 manual payment made
9th - £450 manual payment cleared onto account (interest stops accruing/amount paid off)
1st - £450 DD taken (so I am now £450 in credit on my account)
PinkDalek wrote:If I've understood correctly, they are still telling you it is perfectly acceptable for your credit card account balance to be in credit (debit in your books).
Yes I think so. The lady mentioned a few times that (above example) £450 credit on my account would not be beneficial to me as it wouldn't be interest bearing, NOT that it wasn't allowed (in hindsight I thought it was odd at the time but it was part of a much longer conversation so unfortunately I forgot to press that exact point, aside from her explaining it could be offset against future spending; or I could call for a refund)
It seems like such a peculiar change and I agree with pp who thought I must have it wrong! But I have spent almost 2hours on the phone with this lady now, going over and over it and using example after example to illustrate scenarios.
I'd be very interested to hear if any other Clarity card holders have raised this issue with Halifax and got the same or different response?
(although be warned, one of the call centre agents I spoke to didn't seem to understand the issue at all, and I think he was confused by the fact I was talking about overseas ATMs which do attract interest, and purchases that don't)