Hello all

[A-Bit-Miffed]

Hi everyone,
I've been reading through the forum over the past few days and thought I would register.

I'm just wondering if anyone can clarify whether a credit card company is legally obliged to issue monthly statements if there is money owed on an account?

Thanks in advance

[enaid]

Re: Hello all

It is usually a monthly statement that they send and I would imagine if it were different with your lender then it would state so in the T&Cs.
This may sound daft but if you are not receiving them you should check if they have put you down for paperless billing in that way you will not get a statement through the post you will check your account on line.

[A-Bit-Miffed]

Re: Hello all

Thanks for the quick response enaid.
Although I do most of my banking online I have never asked for nor been informed that my cc account had become paperless. I'll have to check but it does beg the question why wasn't I notified of the change.
Thanks again.

[A-Bit-Miffed]

Re: Hello all

No idea where the original update and reply from labman went but I'll repost my part if labman would be so kind as to repost the reply.

Thanks again enaid.
Checked the account and it is not paperless so I'm still wondering if a credit card company is legally obliged to supply monthly statements when money is owed on an account. If so is there a legislative clause I could quote should I have the need.

Thanks in advance for any help.

[Bill-K]

Re: Hello all

Hi and welcome ABM. A few posts were lost recently during a partial upgrade taking place. Just my opinion, but I would say that I believe there is no legal obligation on a credit card company to supply monthly statements, as such. However, if they are wanting repayment of the money they have lent you under the original agreement, then they must obviously comply with that agreement themselves before they can lawfully pursue you for the money. Therefore, as Enaid suggests, it's worth checking the T&C's for this.

[A-Bit-Miffed]

Re: Hello all

Thanks for the reply Bill and sorry for the delay in updating. Checked the T&Cs and it's monthly.

Thanks for your advice.

ABM

[labman]

Re: Hello all

Hi,

I can't find the exact extract again, but I do remember what it said.

Credit card companies do have to provide you with a paper monthly statement, unless you have agreed to paperless billing.

There are a couple of exceptions to this though:

1. Where there is a nil balance on the account.

2. Where the credit card holder is in default. The company does not then need to issue monthly statements.

[A-Bit-Miffed]

Re: Hello all

Thanks again labman