Ikea Credit Card Overpayment Scam

Last post Wed, Mar 28 2012, 2:30 PM by TC1956. 1 replies.
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  •  Wed, Mar 28 2012, 2:30 PM

    Re: Ikea Credit Card Overpayment Scam

    At first sight it appears to be interest charged on the accumulating balance from the date of the last statement to the date the last payment was credited to your account as cleared funds. That new interest is then to be paid as all or part of the balance on the next statement. If this amount is left unpaid or is partly paid then the outstanding amount will attract more interest, and the last possibility is the situation where you are not charged interest on purchases only if the full balance was paid for the previous statement. The Ikea card may have its own special rules where a credit balance is not allowed and may follow the rules of a store card and not an ordinary credit card.

    • Post Points: 5
  •  Tue, Feb 28 2012, 11:16 PM

    Ikea Credit Card Overpayment Scam

    Have just discovered that, despite not oweing a penny to them, Ikea have been adding interest onto my store card account. I received lots of calls from their people who admitted their error.

    It seems like a systematic error of theirs that if you overpay you are charged interest on the overpayment as if it is a debt. The result is late charges and presumably bad reports to credit agencies. I have reported it to them but it continues.

    Anyone else experienced this?

    • Post Points: 20