It's all fabulous at first when you've got interest free spending for the first three months. Then after that you continue to use it not realising that the free interest period is over and that you are now being charged an extortionate amount of interest each month.
To get to the point i hocked my Credit Card up to the eyeballs, paying the minimum payment each month. However the amount i owed on the credit balance never really went down significantly, as the minimum payment i made only really covered the amount of interest i was being charged. So one month i forgot to pay on time and they demanded a ridiculous amount (around £69) for one payment. I paid it and then the following month i paid off a lump of around £500. I vowed i wouldn't spend anymore on it and just continue to clear the balance. Cue the Mac Hello Kitty Collection and that promise went right out of the window. Amongst other things i've basically ran up the balance again.
So today a minimum payment was due and i totally forgot to pay it. I realised at about 7 pm and immediately rang the said Bank/Credit Card Company. I explained i wanted to make a payment but it was too late to go to a branch as they are closed. I was informed by what i can only describe as a complete Moron that they would not accept payment over the phone. I therefore couldn't make a payment and was told i will receive a charge even though i was willing to pay but unable to get into the branch tomorrow.
I ended up putting the phone down on the woman, which i rarely do but i just feel it is such a disgrace.
It is evident that the reason they wont accept payments over the phone is purely so they can charge people like me. Its disgusting!
I will be lodging a letter of complaint, and i have already allocated £500 of my student loan at the end of this month to pay off of the card. I am also going to be chopping up the credit card.
The moral of this is do not get a credit card unless you are fully prepared for the extortionate interest rates, ridiculous policies, and temptation of spending money that isn't yours.
Sorry for the rant everyone but i really needed to get this off of my chest and warn you all what these companies really are like.