Credit card holders may have their credit records tainted thanks to the extra bank holiday for the Q...
Credit card holders may have their credit records tainted thanks to the extra bank holiday for the Queen's Golden Jubilee, because customers' payments would have been deemed late and many subsequently charged.
According to the research carried out by the Money Facts Group, thousands of credit card holders could find charges between £12 to £24 on their next bank statements.
Then there is the question of how widespread the problem is and whether card companies will refund the charges and help exonerate customers at credit reference agencies.
A bad credit rating history at an agency can mean that lenders could refuse to offer loans to particular candidates.
"At the moment I am not sure how wide spread the problem is but if I receive a lot of incidents I will of course take the matter further," says Melanie Stewart, head of research at Money Facts Group.
"I wanted to highlight the problem and hopefully encourage more people to come forward. Obviously if the charges are brought to the credit card institutions' attention they will have to refund the charges and clear people's records."
Ellen Carroll, press relations manager for credit ratings agency Experian says: "Credit information is updated every month and we don't just hold late payment information but all types of credit data. If some facts were incorrect it would be marked as wrong and banks by law would have to change the records immediately."
"There are many sanctions in place to protect the consumer."
Although the scale of the problem is still unknown, Experian had encouraged people to come forward if they are worried and request their personal credit rating record.
Despite improved risk appetite
FOS award limit increase
Relates to 136 million transaction reports
Ceremony will take place 13 November