Cancel Your Unused Credit Cards

ratetart409

I have a zero balance on a marbles card and just received a statement saying that they are making changes to their account charges. one in particular may affect those of you with a card which you haven't bothered to use for a while. they say " we are removing the admin fee of £9 for contacting you if you are in breach of condition2(g) which requires you to use your card /account at least once in a complete period of 6 months from 1st of Jan to 30 June inclusive and from1st july to 31st dec inclusive." It may be useful to read the the small print for unused cards incase you get stung for not using. having not read the t&c's i am just lucky that i wasnt charged so far.

europa

" we are removing the admin fee of £9 for contacting you if  you are in breach of condition2(g) which requires you to use your card /account at least once in a complete period of 6 months from 1st of Jan to 30 June inclusive and from1st july to 31st dec inclusive."

Thx 4 pointing out that T&C. But I haven't understood what the penalty is if u don't use the card as per condition 2(g). Is it the £9 mentioned above? Marbles' T&Cs do not seem to specify the penalty.

ratetart409

Re:Marbles it looks as if they have waived the penalty of £9 for not using the card but they dont make it clear if there is any other penalty. Can someone look into this further.

bubblegum_3

I have just been on the phone to Barclaycard to cancel my c/c after not using it for months and they informed me that it would be better for me not cancel as it will actually improve my credit score. Who's right? :-/

alared

Bubblegum

Mandy Rice-Davies quote

"they would say that,would`nt they"

europa

Re:Marbles it looks as if they have waived the penalty of £9 for not using the card but they dont make it clear if there is any other penalty. Can someone look into this further.

can anyone shed any further light on this?

clare_3-2

I was told the very same thing by Barclaycard. They also told me that my credit score was below average and so i should keep the account open in case no one else would give me credit. The so called 'customer loyalty' probably have incentives and targets to reach. They virtually cut me off when i argued against what they were telling me. I think their methods are unfair and should be stopped>:(

clare

I have just been on the phone to Barclaycard to cancel my c/c after not using it for months and they informed me that it would be better for me not cancel as it will actually improve my credit score.  Who's right? :-/

System

ALTHOUGH YOU CAN CANCIL CREDIT CARDS, AND THEY WONT WORK IN SHOP ETC. YOUR ACCOUNT IS STILL
OPEN UNTILL THE EXPIRE DATE. THIS IS TO LET YOU
HONER ANY DELAYED PAMENTS.

pingu

i have cancelled and closed 3 credit cards (1co-op 2 mbna)

do the credit card companies tell reference companies and how long it takes ?

i want to apply for capitalone( 3.9%for BT and 7.9% standard) soon to get maximum credit limit.

thanks

lisyloo

do the credit card companies tell reference companies and how long it takes ?

Credit card companies update your files monthly.
They will not make an exception if you close the card they will just update it in their normal monthly run.

You should allow them time to do their internal administration to close the account and then wait at least a month for your file to get updated.