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credit card nightmare

Strewth what a farce...

Finally got round to raising the funds to pay off and cancel the rather too many cards I have had for the last decade..

Its not easy is it !!!

"Yes Mr xxx, the cheque for xxxx 000 is on your account"

"Can you tell me how much I need to pay you now, by debit card, to account for any interest left and for you to cancel"

No, we need 2 fully paid months.

So, you cant pay a card off and cut your losses, they hang around for a bit..

and the one card I am keeping, despite having had the cheque for a week, cant discuss interest rates etc until the cheque has "cleared"...its a barclaycard and the cheques from Barclays...

I am tempted just to by a Ferrari with em and get an IVA !!!!

Reply to
uknewsfan
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I don't understand. Why is a "nightmare" for the card company to want the card not to be used for a bit before they will close your account. What losses can you cut that change by you cutting up the card so you can no longer use it and cancelling the account at a later date?

Just mark the date on your calender and give them a call in 60 days.

Reply to
Bert

pathetic excuse , you can cancel by far most of it straight away.

Reply to
Tumbleweed

Nope, Bert didn't actually say any of that.....

Reply to
Bert

Yep, but when you want shut its a pain. Aoan company can give a settkement fig thts applicable for a couple of weeks, why not with a card ?

Reply to
uknewsfan

In message , uknewsfan wrote

With a loan company they know the current outstanding dept.

With a card you may have continued to spend and not necessarily with a trader that is connected electronically. Some (small) traders may only present their paper records at the end of month.

Reply to
Alan

I would imagine it is because a loan is fixed so it is either paid or not while a credit card is an open line of credit that you could still be using even though you have asked for it to be cancelled.

Reply to
Bert

At 17:36:39 on 30/03/2007, uknewsfan delighted uk.finance by announcing:

Yes. The account will remain on their system for at least a year or so. There's absolutely no reason for them not to cancel it, however (as opposed to closing it).

Reply to
Alex

I have found that even when the card is expired, they still accept charges against it.

Then there is the difference between 'the card', 'the account', 'cancelled' and 'closed'. Most people want to know they can forget about it, but that is almost impossible with the way CC cos operate.

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Reply to
whitely525

Ask for a settlement figure. By law they must give you one.

Reply to
Jonathan Bryce

Is that so ? None has volunteered that, despite my direct request !

Reply to
uknewsfan

At 19:56:39 on 02/04/2007, uknewsfan delighted uk.finance by announcing:

I believe that only applies to loans. It's not possible for a CC company to give you a settlement figure since they have no idea what charges may subsequently appear on the account.

Reply to
Alex

Surely they can but ,if charges are made then you have scuppered it yourself ?

Reply to
uknewsfan

At 21:52:33 on 03/04/2007, uknewsfan delighted uk.finance by announcing:

How can they tell you how much to pay to settle the account unless they can be sure it's the amount needed to settle the account?

Reply to
Alex

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