Don’t forget our ‘Wonga Moments’ competition is ending this week. This is your last chance to win a cool Sony Video Walkman, worth over £100, simply by telling us how Wonga has helped you in the past. We’ve already had some great stories, but you’ve got to be in it to win it!

It’s easy to enter - you can either leave a comment, or drop us a brief email to competitions@wonga.com. More details are available in the previous post below. We’ll decide which is the most unusual, warmest or amusing Wonga Moment very soon…

A recent article in the Times exposed a flood of complaints from angry Barclaycard customers, who claim the monster bank may have been using dodgy tactics to extract fees from them.

They say they have been hit by late payment charges after their normal repayment date was shifted without warning…

 

Not since British Gas introduced its woefully inadequate boiler breakdown cover or TalkTalk underestimated demand for its “free” broadband have we received so many letters on a single subject. The sheer scale of the correspondence suggests an orchestrated attempt by Barclaycard to confuse borrowers into missing their payment dates so that it can levy extra interest and charges. Worse still, to judge by the letters we have received, the lender appears to be targeting borrowers who usually clear their balances in full each month.

Barclaycard’s inadequate explanation is that it gives all customers a minimum of 20 days to pay from the date that a bill is generated, but that this payment window can be as many as 32 days. It says that the date can change because of weekends, Bank Holidays and, crucially, “operational expediency” - a vague notion that can only mean “whenever we wish to boost profits”. This is simply not good enough.

It sounds like another example of the banks being about as clear as mud when it comes to the cost of their services. Wonga will never change your repayment date, but you are always welcome to bring it forward! We won’t charge you a fee if you decide you want to repay a cash advance early and save interest.

Fancy winning a cool Sony Video Walkman, featuring 4GB of memory, a 2.4″ LCD screen and built-in Bluetooth wireless headphones? Then tell us about your Wonga Moment…

All kinds of people use Wonga.com, for lots of different reasons. We’ve come to refer to those unforeseen situations where only a super-fast Wonga loan can save the day as ‘Wonga Moments’. We’d love to hear some of your more unusual, warm or inspiring stories about why you came to us and how the service helped you.

And the most interesting, unusual, amusing or heart warming Wonga Moment will win this lovely prize!

We’re only interested in genuine stories - perhaps you forgot an important birthday, the car broke down at a crucial time or you fixed a major DIY crisis for example? Tell us about your experience by sending an email to competitions@wonga.com. Include your name, phone number and a brief description of your Wonga Moment.

We’ll pick our favourite at the end of this month and notify the winner by email or phone. Your submission will remain confidential - unless it’s so good that we seek your approval to share it! Best of luck.

It’s an extreme example of the potential harm caused by an inaccurate credit history but, according to Thisismoney, a businessman is claiming he could face eviction after an incorrect black mark was placed on his credit record…

A businessman says he could lose his home after a mobile phone firm wrongly told credit reference agencies he had not paid his bill. John Peters believes the blunder by O2 ruined his credit history and triggered a chain of events that threw his finances into turmoil. As a result, the 42-year-old, who runs an internet business, fell behind on his mortgage payments and he, his wife and two young children now face being evicted.

While it’s questionable just how instrumental the error was in leading to the serious financial difficulties which Mr Peters now faces, it highlights how important your credit record can be and why you should never assume all the information held about you is accurate.

You can request to see your credit file from any of the three UK credit agencies - Call Credit, Experian or Equifax. These sites also offer advice about protecting and improving your credit rating, which can have a serious impact on the cost of borrowing cash.

Remember that using Wonga responsibly is a great way to quickly improve your credit rating too - check out this earlier post for more information.