Beneficial Card withdrawal

karris43

Hi

I got a letter yesterday telling me that my Beneficial Finance card will be withdrawn on 31st Dec 2009 an I won't be able to use it after then.

My question is: will I still have to pay interest on the balance. They have closed the account with the balance pending and stated that it can still be paid by minimum payments.

Any advice welcome. Thanks.

Mandark

Hi I've had the same letter. I would have thought that we would still pay monthly interest on any outstanding balance. The credit agreement remains the same (which says you have to pay interest) and they say to pay your account in the usual way. But it's a good question. Don't use it for excessive Xmas shopping though!

A bit miffed really as like many I was one of those original Orange Marbles customers who signed up many years ago for their 'Internet friend' credit card. Then when Beneficial took over you could no longer check statements on-line and now they're closing accounts.

withnell

They're just not lending you any more money - you still have to make at least the minimum payments, and interest will accrue as usual

3431Anna

Beneficial Finance Credit card withdrawel, I have also received a letter today about this, I think we will stil be charged interest, I thought the reason for withdrawel must be some thing to do with me, but perhaps it isnt if others have had the same letter,

Mandark

I understand that Beneficial's services are being wound down world-wide. I never had much on the card anyway. I imagine it's the same for most people because Beneficial refused to give the 'high borrower/ low payback' types their card once Marbles was scrapped. I think they just demanded their money back.

snm123

Has anyone tried using their card since they received the letter? I tried yesterday, but it was "not accepted" on the chip and pin terminal. Tested it in a cashpoint to see if that did anything and "request refused by your bank". I'd last used the card in August, have a balance of circa £600, with a limit of £9k, and in good standing.

From memory the letter said you cannot use it after 31st December, implying that you can still use it up to that point. Was just interested to see whether anybody else has tried and had the same problem?

Clive_Matthews

I received the same letter today, it was a bit of a shock to be honest. I had hoped HSBC were in for the long haul, but obviously not - I had a generous credit limit on this card too, circa 3K. I guess I'll just apply for a 'proper' HSBC card in the new year instead!

Mandark

snm123 wrote: »

Has anyone tried using their card since they received the letter? I tried yesterday, but it was "not accepted" on the chip and pin terminal. Tested it in a cashpoint to see if that did anything and "request refused by your bank". I'd last used the card in August, have a balance of circa £600, with a limit of £9k, and in good standing.

From memory the letter said you cannot use it after 31st December, implying that you can still use it up to that point. Was just interested to see whether anybody else has tried and had the same problem?

That's interesting. I'm sure the letter said you could carry on using the card. I might give it a go in a cash machine if I can remember the pin number.