Unable to cancel card because of a 40p credit balance

cos_2

I'm smiling at this as I closed a CC account some years ago and was sent a cheque for under a pound. I forgot about it and having done an Experian check that showed the account was still open many months later, found the cheque and stuck it into my bank.

Well, the cheque 'bounced' because it was past its 6-month date and was returned to me. I wrote to the CC company and asked them just to write it off so the account could be closed. They replied quite quickly... with another cheque.

I gave up and just paid it into my bank. I think the account was closed within a couple of months after that.

I still have the original cheque somewhere

Sportbilly_2

I had about a pound credit with an old Halifax card- when I closed it, they asked me if I wanted a cheque or to give it to charity. I asked for the latter and they did it no problem.

goldmercury

i'm also having issues trying to close my abbey card. I gave my bank details last month so they could transfer the positive balance, which has not been done.

Called them yesterday and they had no record of this! SO I had to go through the proces again. At the end of the conversastion I asked, to confirm once the transaction goes through my card will be cloased. Was told I'd have to call again to close the card when the transaction hits my account.

Will keep you posted.:mad:

Karl.H_2

CMCK01 wrote: »

After reading Martin's information on cancelling all credit cards if you have zero balance because even if you don't use the card it still looks like you have £xxxxs available to use on that card I decided to take his advice.

Martin writes: 'Access to too much credit, even if it isn't used, can be a problem. If you have a range of unused credit cards, cancel most of them; this lowers your available credit and should help (see the Cancel Old Cards article for full info on what to close when). However long standing bank accounts with good credit histories can be a benefit to your credit score, so they're often best left open.'

That sentence has always confused me. I wondered whether he meant Credit Cards in place of Bank Accounts? Anyone know?

Karl.H_2

Unless, he is talking about keeping current accounts for a long period of time?

YorkshireBoy

Karl.H wrote: »

Unless, he is talking about keeping current accounts for a long period of time?

He is. 'Time with bank' is a key stability criterion in scoring for credit-based products.

udydudy

mate just spend the 40p, either at tesco(part payment) or for any other purchase. my OH just had £25 credit on MBNA. rather than waste my time calling these sometimes dumb cs guys, i just spent it in fact went a bit over as the bill was £30ish and then waited for the expense to show up online. Once done I just paid what was the difference i.e £5ish. after two days the account showed £0 as balance asked OH to call and close account!!.

As Simple as that. rather than discuss/debate with the guys what to do!!

Karl.H_2

Just think how much money it's costing you to keep phoning them too.