Luma Card Statements, Payments, & Interest FAQs
Have a question about your statement, payment, or interest? Luma answers a few of your frequently asked questions.
What should I do if I think I've received an incorrect charge?
When you review your statement, if you think you've been charged something in error, contact us so we can look into the issue.
How do I fix duplicate transactions?
If a transaction you've made appears on your statement twice or more, contact the merchant you made the purchase with. It may take up to 30 days for the refund to be credited to your account. If you've already contacted the merchant and haven't had success getting them to issue a credit, contact us with your transaction details, including the date you spoke to the merchant and their response so we can investigate.
What should I do if I don't recognise a transaction?
It's easy to forget a transaction, which is why it's good to keep your receipts. If you have an extra cardholder on your account, you should ask if s/he made the transaction in question and whether they can identify it. When you manage your account online, you can get more details on a specific transaction when you click on "Review Transactions." Occasionally, a merchant will have a name on your statement that you don't recognise because they trade under a different name. Try to contact the supplier once you've narrowed down who the merchant is. If that doesn't help, get in touch with us so we can try to help.
Can I download my electronic statements?
It's easy to save your electronic statement as a PDF on your computer from your online account. Make sure the area where you're saving them is password protected. You can also download your statement to budget software like MS Money or Quicken.
What's the Estimated Interest figure on my statement?
The number shown as Estimated Interest on your statement represents the interest you may be charged on your next statement if you pay the minimum amount due and your payment reaches us on the due date. Note that the interest charged will be different from the amount shown if a change is made to either your interest rate, your statement date, and/or if you make any new transactions on your account before your next statement.
When will I receive my statement?
You'll receive your statement once a month as long as you have a balance. If you've signed up for online account management, we'll let you know when your electronic statement's ready to view. At a minimum, we'll send you at least one statement a year for your records.
Why haven't I received my statement this month?
We send your monthly statement only if you have a balance on your Luma credit card. If you have a balance and haven't received your statement, check that your contact details are up to date.
Why don't "account balance" and "available to spend" add up to my credit limit?
When you make a transaction, it's debited from your "available to spend' amount, but won't appear in your "account balance" until the transaction has been fully processed. This can take up to 10 days after you make a transaction.
How much do I have to repay each month?
Each month, your statement will show your full outstanding balance (everything you have spent plus any interest and charges) and the amount of your minimum payment. You can pay any amount between this minimum payment and your full outstanding balance. It's always a good idea to pay more than your monthly minimum, so you pay down your credit debt faster.
How do I make a payment?
You can choose from a variety of different ways to make your monthly payments.
By Direct Debit
Direct Debit ensures that your payment happens on the same date every month and is the best way to ensure that you don't forget a payment. Just make sure you always have funds to cover your Direct Debit payment. To set up Direct Debit, complete the Direct Debit mandate online. Sign into your online account and go to the "Pay Bill" option. Then, select "Set up / Amend Direct Debit" and follow the instructions. You can set up your Direct Debit to pay:
- The minimum payment,
- A regular monthly amount that's a bit more than your minimum, or
- The full statement balance.
Online with a debit card
To pay your Luma account online using a debit card, just sign into your online account and select "Pay Bill." Because of bank processing times and fraud checks, your debit card payment will be processed within 5 working days. When you pay online with a debit card, you'll need to provide:
- Your debit card number,
- The card's expiry date,
- The 3-digit security code on the reverse of your debit card (often called a CVV number),
- Your card's issue number (if applicable), and
- The amount that you wish to pay.
Your debit card details can be stored in your online account so that you can set up regular payments or save time when you make your next payment. If electing automated payments, be sure to update your debit card details when your current debit card expires so that you don't miss any payments and incur a late payment charge.
Fill in a payment slip, write your account number and postcode on the back of your cheque or postal order, and return it to Capital One in the envelope enclosed with your statement. Click here if you need the address for payments by post.
At a bank
Take your full statement, including the payment slip and your payment, to any UK bank and pay over the counter. If you're using a bank where you don't have an account, you may be charged for this service.
Standing orders, Faster Payments, telephone and internet banking
If your bank offers a standing order service, telephone or internet banking, then you can pay Luma's card issuer, Capital One, by providing your bank with Capital One's account details:
- Bank account number 81077082
- Sort code 40-02-50
When providing this information to your bank, you should also provide the 16 digit number on your Luma credit card, with no spaces or dashes, as a reference. This will ensure your payment reaches your account as quickly as possible. Please allow 5 working days for processing. Luma's card issuer, Capital One, also accepts payments via "Faster Payments". This type of payment is available from some banks and allows your account to be credited by the end of the next working day. You should check with your bank to see if this payment method is available.
Will my Direct Debit start straight away?
Because it takes a while to process Direct Debit instructions, be sure to make payments as you did before until it's confirmed that your payment will be taken automatically by Direct Debit.
When should I make my payment?
Your payment due-date is printed on your monthly statement and on the left side of the screen in your online account. Allow 5 working days for us to receive and process your payment. If we don't receive the minimum payment by the due date, you could be charged a late payment fee.
Can I make more than one payment each month?
You can make as many payments as you like within a month, but you must make sure these amounts total the minimum amount due by your statement's due date.
How long does it take for payments to reach my account?
Generally, it's a good idea to allow 5 working days for your payment instructions to be processed by your bank and us. If you have posted us a cheque, you should allow 9 working days. This allows 4 working days for your mail to reach its destination from the post box to our processing facility.
What if my payment isn't appearing in my account?
Check that you've allowed 5 working days from the date you made the payment. (Add 4 additional working days if you posted us a cheque). If a Direct Debit payment isn't appearing, check with your bank first. If you paid by cheque at a bank, take your receipt back to the bank where you made the payment. Ask them to trace your payment and if the cheque has been cashed. If the cheque hasn't been cashed, ask your bank to stop the cheque, and then send us a replacement. If your cheque has been cashed, ask your bank to give you a photocopy of the front and back of the cheque. Send this to us so that we can trace your payment. Please note that some banks may charge you for this service.
Why does it say "minimum payment due" even after I've made my payment?
"Minimum payment due" information will always appear on your account service screen, even if you've already made your payment. The minimum payment due is updated only on a monthly basis when you receive your new statement. If you're unsure whether your payment was received successfully, view "Online Payment History" in your online account.
Why isn't my recent payment appearing in my online account?
You should allow 5 working days for your payment to be credited. Your payment will show under "Recent Transactions" in your online account and on your monthly statement.
How are payments allocated?
Different rates of interest apply for purchases, balance transfers, and cash withdrawals. When you don't pay your balance in full each month, your payment is applied to these types of transactions differently. Details about how your payment is allocated are specified on the back of your statement and included in the information you received when you first got your Luma card.
Why can't you process my online payment?
While there may be a temporary system issue affecting our ability to receive your payment online, there are 3 common causes of online payment issues:
- You've provided incorrect card/account details. You may have inadvertently entered the wrong card number or expiry date/issue number. Alternatively, your card may have expired. Please check your information and re-enter if necessary.
- There are insufficient funds in your account. You may not have enough cleared funds available to withdraw from your bank account. Your bank will be able to tell you the exact actual amount you currently have available, and when they can authorise the withdrawal.
- Your bank's authorisation process may not allow large payments to be authorised unless the card is present, known as a referral issue. To prevent fraud, banks sometimes need your confirmation for online transactions. Your bank may also require certain manual security checks.
How can I pay my credit card bill if I become ill or unemployed?
Please get in touch right away so we can help.
Can I pay more than the minimum payment?
You can pay as much of your balance as you want anytime. In fact, it's desirable to do so. Paying more than your monthly minimum helps you decrease your credit debt faster and avoid paying extra interest.
What happens if a payment is late, missed, or returned?
When your payment isn't on time, you'll be charged a fee. These charges are listed in your credit card agreement.
What should I do if I get into financial difficulties?
Get in touch with us as soon as you run into difficulties so we can try to help you. If you're in more severe financial difficulty, there are a number of UK organisations that provide free, independent guidance in terms of how to manage your debts:
- Step Change Debt Charityopens in a new window
- PayPlanopens in a new window
- Your local Citizens Adviceopens in a new window
- National Debtlineopens in a new window
There are other organisations that offer debt assistance, but they may charge a fee for their services.
How do I know what interest rates apply?
To find out interest rates, you can review the Luma card's Terms and Conditions or review your statement. If you have balances on your account, interest rates will be shown on your statement. If you have any more questions about interest rates, contact us.
How long is the interest-free period on purchases?
You can get up to 56 days interest-free on purchases, as long as you pay off your balance in full each month.
Why have I been charged cash interest when I haven't withdrawn any cash this month?
In addition to withdrawals, buying foreign currency, travellers' cheques or other types of currency (such as money orders or using online gambling sites) also count as cash transactions. Because we charge interest on cash transactions at a daily rate, you can't avoid interest charges on cash transactions until you pay off that portion of your balance. We charge cash interest on cash transactions from a previous month if your payments have not been enough to cover the amount of the cash transaction plus the interest and fees apportioned to it. You'll also need to take into account any other transactions you have made (i.e. purchases or balance transfers) and the order in which your payments are allocated to these. There may also be interest due for the time between your last statement and the date we received your payment. Please consult your Luma card agreement for more details.
Do I have to pay interest every month?
We'll always charge interest on balance transfers and cash withdrawal transactions, unless you have an introductory standard interest rate or a promotional rate. Credit card cheques can be charged at purchase, balance transfer, or cash withdrawal rates. For more information about cash withdrawal transactions please see your credit card agreement or get in touch.
How do I cancel automated transactions?
Unfortunately, when you make payment arrangements directly with another merchant, we can't prevent these payments from being made. Contact the supplier directly and request to cancel the payment. Keep a note of the date you made the request, whom you spoke with, and whether your cancellation was verbal or written. If payments continue to be charged to your Luma account after you have requested them to be cancelled, then let us know so we can investigate. You'll need to give us the date you requested the payments to be cancelled and any response the merchant gave you.