CC accepted initially, paid balance transfer then withdrawn..

purple2480

Hi all,

I recently applied for an Abbey CC and they sent me a letter two week later saying I got the card, please send us direct debit details and proof of ID etc which I did and they even sent out the PIN and card (they had also already paid the balance transfer of 475£ for my Capital One credit card on 28/04/09). At the same time I received the card (2/05/09) I got a letter saying that
'Although your application for an Abbey CC was accepted after the initial credit search, we have reviewed additional information and we regret that the offer of a CC has been withdrawn. Your contract has therefore been cancelled and your card has been deactivated.
Please arrange for your CC account to be credited with the outstanding balance of £490.28 within the next 30 days'

I called them and they said the guy didnt seem to know why so he asked me if I had missed any payments and I havent missed any payments on any of my catalogues or the Capital one CC. I mentioned that I had a CCJ from 4 years ago but that always comes up on my file anyway (i keep up to date with my credit file and was quite pleased to get a CC as I have been working hard at improving my credit rating).

So my problem is that I cannot afford to pay 490£ in the next 30 days and can they do that to me as I have been entirely honest and I dont understand how they could not have seen the CCJ which ALWAYS comes up on my credit report? And can I ask them to remove the search record since its not me fault they didnt decline me straight away (is an opt in search better that an account reported as 'not activated'? Please help I dont know what to do.

I cant use the capital one card as that has a ridicoulsy interest rate a wooping 39%. I took it out to improve my credit rating and usually pay it off in 2 months (ususally pay 250£ a month just to keep it active).

anyone been in a similar situation, Is there anything I can do??

thriftymomma

How annoying. Did they say you could appeal at all?

jonesMUFCforever

I think they are stuck with you.
Just imagine if you complained and it went as far as the ombudsman - who would say to Abbey so you accepted the application - yes you took the balance transfer fee - yes and then you processed the balance transfer - yes and THEN you conducted a credit search and found adverse information - yes - they would be laughed at.
Explain to Abbey you accept that you will not be able to use the card for any further transactions but that you intend asking them to stand by the terms you applied (and were accepted) for their card.

If they don't play ball complain and if you have to go to the ombudsman.

One last point make sure the card is cleared by the end of the promotional period.

purple2480

hie thanks for reply,

they didnt say anything, just pay back the money in 30 days

Innocent_Guy

Complain, better to go into branch

naijapower

But i thot they could argue at FOS that they have the right to withdraw the card or close account at any time.....or am i wrong in my thinking?

Innocent_Guy

naijapower wrote: »

But i thot they could argue at FOS that they have the right to withdraw the card or close account at any time.....or am i wrong in my thinking?

No that is with your O/D

clio

Complain... Talk about moving the goal posts. Hope you get a result.

ldn-100

Abbey are a hopeless mess. They sent me out a credit card without having seen all the ID they needed to open the account and would not activate it. It took over a month and a trip into three different branches to get activated. Speaking to their credit card team on the phone I could tell they had little idea what they were doing. It sounds like someone at Abbey has made a terrible mistake and is now trying to put it right by scaring you and being unreasonable. Tell them you do not have the money to pay off this card (which is basically the truth) and that you are prepared to pay it off at the agreed rate (i.e. paying the minimum each month). If you do not get the reply you want, go through their complaints procedure and then the Ombudsman. This will all take quite some time. If they harass you, you can delay them by telling them they will have to wait for the outcome of these procedures before you will pay over and above what you agreed.

Moggles_2

There's only so much that can be achieved over the phone and, speaking from experience, I wouldn't rely on conversations with an outfit like Abbey.

I would request a copy of its complaints procedure (you can do that much over the phone or better still in branch). This sets out the time limits allowed for dealing with your complaint. The bank is also obliged to confirm the result of your complaint in writing.

You have the right to take your complaint to the Financial Ombudsman, if you are not satisfied with the outcome.

Originally Posted by jonesMUFCforever
Explain to Abbey you accept that you will not be able to use the card for any further transactions, but that you intend asking them to stand by the terms you applied (and were accepted) for their card.

Sound advice, but I would do this in writing. Try not to get drawn into conversations about the state of your finances. Remember, regardless of what staff tell you, it's what's in writing that counts.

Very best
M

purple2480

Went to my branch first thing in the morning and they said they couldnt help me so I asked for a copy of their complaints procedure. Got back and called them and they said that I could pay off the amount in minimum payments and they will not enforce the 30 day limit and basically so long as I make the minimum payments till its cleared off I am fine.

Thanks y'all. wouldnt have had the confidence to deal with it! :rotfl: