NewDay Ltd

Financial Ombudsman decision DRN-5575618 Not upheld

Not upheldoutcome, as published by the Ombudsman

—no sum stated

Mon Jul 21deadline to accept (not the decision date)

The Ombudsman does not print a decision date. The date above is the deadline the consumer was given to accept or reject the decision, which is set about a month after it was issued. It is reliable to the year, not to the month.

What this decision was about

Charges and fees, Interest and rates

In the Ombudsman’s words

The terms and conditions of Mrs M’s account set out the charges due when payments are missed and the credit limit is exceeded, and I think these were fairly applied to Mrs M’s account in these circumstances.Charges and fees

I agree with Mrs M that more interest was charged by NewDay following the credit limit increase, but I think this was because the balance had dramatically increased and it wasn’t because NewDay had applied a higher interest rate than set out in her credit agreement.Interest and rates

Source

This page summarises the Ombudsman’s published final decision. The document itself is the record: DRN-5575618.pdf on financial-ombudsman.org.uk.

The outcome shown is the Ombudsman’s own published classification, not our reading of the text. Nothing here is legal advice, and a decision concerns only the complaint it was made about.