HSBC cancelled my card !!!!

angryofsussex

chattychappy wrote: »

. Seems odd unless the OP did it very often (he said "time-to-time") or has other problems with his credit history.

No other problems with my credit history. Just minor cashflow problems from time to time. I'm very careful to never miss a payment or anything of the like because of landing a no-no on my credit file.

Rupert_Bear

Not sure why the credit cards companys do not remove the cash facility if it is deemed to be so bad.

RobertoMoir

I don't think they mind baling you out of a hole on the (very) odd occasion, they just don't like the feeling that you're living off the card, perhaps?

The_Boss

Rupert_Bear wrote: »

Not sure why the credit cards companys do not remove the cash facility if it is deemed to be so bad.

They don't because it is a nice easy cash cow for them.

CannyJock

udydudy wrote: »

Cash withdrawal on credit cards is an absolute no no!!! as it shows that you are desperate to borrow at any cost.

Bear in mind that they charge you crazy interest from day one with no interest free period. It turns you into a cash cow for them.

I'd say most people borrow on them without fully understanding the costs involved, it's one of the things that the credit card companies bank on. They wouldn't promote a facility that they then score you negatively for using, that doesn't add up to me - it's all about the interest they charge you.

Either way, if you've never missed a payment and had the card for a while then you'll have a decent enough credit rating to apply for another one. I wouldn't lose any sleep over HSBC, in my experience they're not the best offers to take advantage of.

simon_templar_2

Is the HSBC credit card not the property of HSBC?

fozmcfc

In the past, I've rather stupidly withdrew cash from my credit card several times and I'm now wondering reading this thread, if that's why Natwest closed one of my two cards I had with them.

From time to time, the machine refused to give me cash as well, even though I had plenty of available credit on the card.

I certainly won't be withdrawing cash again, unless I was in dire need, cause next year I want to apply for another 0% on purchases for at least 6 months card and don't want to appear as though I'm struggling with my current cards.

beaujolais-nouveau

Moggles wrote: »

Personally, I doubt whether lenders can distinguish BACS payments made by other card companies from those of their customers.

I made a balance transfer out of Barclaycard to another card, and it appeared to trigger an offer letter from Barclaycard about balance transfers INto my Barclaycard account.

beaujolais-nouveau

angryofsussex wrote: »

No other problems with my credit history. Just minor cashflow problems from time to time. I'm very careful to never miss a payment or anything of the like because of landing a no-no on my credit file.

Then it looks like they were having a purge of cards that made them no money, and your card happened to have nil on it in that "window" of time and got zapped.

Typhoon2000

Paying only the minium payment also rings alarms bells, especially with MBNA it would seem.