Published on April 5th, 2017 | by FinanceLoophole0
Cant Pay Marbles Credit Card
Can’t Pay your marbles Credit Card
Marbles MasterCard is a credit card provided by NewDay Ltd one of the NewDay group of companies and one of the largest providers of credit and store cards in the UK.
Marbles is accepted all over the world, anywhere showing the MasterCard symbol in 32,000 locations and at 600,000 cash points. Like most credit cards no interest will be charged on purchases if every statement balance is paid in full by the payment date.
Alternatively, you can pay at least the minimum repayment of your outstanding balance every month which is only 1% of the balance shown on your statement, plus any interest charged on your account, (plus any extra default fees).
The typical representative APR (Annual Percentage Rate) charged by marbles is 33.8%, so although this may be convenient, this is not a cheap option in the long term.
If you fail to make at least the minimum payment and have to be reminded, they will charge you a late payment fee of £12. If marbles have to take further default action then additional costs may be charged.
What should I do if I can’t afford to make my marbles Credit Card payments?
Our first question would be: is this a ‘timing difference’? Is your monthly payment due before any regular income hits your bank account?
If this is the case, as a marbles customer you can choose to change your regular payment date free (up to twice a year) to suit your personal circumstances and so hopefully ease the problem now and going forward. Contact marbles’ Customer Services on 0333 220 2692 to arrange this.
But if it is NOT and you just don’t have the money to pay the bill then please don’t panic! You are not alone -there are a lot of people now experiencing difficulty meeting credit card repayments. You just need to take control! If you follow the following steps you should be able get yourself in a better position with less to worry about!
Step 1. Complete a Budget Planner
How much can you really afford to repay? If you haven’t already done one complete a budget planner to look at what’s left/surplus after all of your typical monthly costs. (Check out the internet to find examples of budget planners, there’s plenty to choose from). Consider making some cut backs, but make sure you prioritise to pay the important bills/debts called ‘priority debts’ such as any rent, gas, electricity, fines or tax. You should now have a clearer idea of what you can afford!
Step 2. Contact marbles Direct
Then contact marbles direct on 0845 602 9386, to discuss your situation and see if you can negotiate a lower, more affordable repayment and also can they freeze any additional interest or charges.
! This is a very important step to take: keeping in contact with your lender and updating them as to your situation and any progress is a key way to getting the best co-operation and understanding from them. They want you to call them if you cannot pay for any reason, as early as possible so that they can see what they can do to help.
They may have their own Income and Expenditure form (budget planner) for you to complete to assist their decision about any arrangement. That’s fine you should have already thought this through. If you don’t have any success talking to them direct then please don’t worry – you have at least tried!
Step 3. Seek Specialist Debt Advice
So if you didn’t reach an affordable arrangement direct, the next thing to do is to seek free specialist debt advice to help you consider your options and get the best possible arrangement in place. You could mention this to marbles, as well as who you plan to use, (see below), so that they can have it noted on their system that you will be taking further action and seeking debt advice instead of just burying your head in the sand!
A debt advice service may also be able to try to help get any interest or default charges, (which are being, or may be added to your account) frozen so that your debt isn’t increasing. Again there are a lot of people now with money problems, you are not alone! Free debt advice can give you the specialist help to you take control.
There are a few free debt specialists you can refer to, for example: Citizens Advice Bureau have specialist debt teams to help on a face to face basis. You’ll need to make an appointment to see them. There’s also Step Change, a free debt advice telephone service, where they discuss your situation and provide help over the phone and by post. These are just two routes to consider.
If your debts are complicated and/or numerous you may want a Debt Management Company to manage the process and repayments to make it easier for you. We have had good reports about the debt management services offered by BrightDebt – just fill in this form with your details and they will get back to you
Any debt adviser is going to want to see what would be realistically affordable, if anything, for you to repay and will have their own version of a budget planner to complete. So if you haven’t done one yet now’s the time to get started. Also if you have more than just a marbles debt make a list with all the details in advance.
- Taking control, doesn’t magic away your debt(s) for you, but what most people find is that by taking control they are more on top of the situation and their worrying is significantly reduced – because they have taken action. So don’t delay!
- Also debts show your credit search record for 6 years, even after they have been repaid. So the sooner you take action the better, delaying means they will just show for longer and further action may be threatened or taken against you.
What should I do if I have a complaint about the marbles credit card
Marbles is regulated by the Financial Conduct Authority. This means they are required to have a formal complaints procedure in place and supporting information for you to follow. Normally they will have a maximum of 8 weeks to deal with any complaint internally.
If you wish to make a complaint about your marbles credit card write to:
marbles Customer Services
PO Box 136
(! Don’t forget to include your Customer Number so they can find your records quickly. Also keep a copy for your records in case you wish to take your complaint further).
However, after 8 weeks, if you are still not happy with the outcome and their decision you can refer your complaint to the Financial Ombudsman Service. The Financial Ombudsman Service can be contacted at:
Financial Ombudsman Service
London E14 9SR
Telephone: 0800 023 4567 or 0300 123 9123