First Direct - closed account...

mong0l

Hi,

I didnt pay my credit card for a couple of months (i know, dont grill me for it)

Anyway, i have a First Direct Credit Card and a First Direct Bank Account which i have had for about 8 years.

Now the nitty gritty, First Direct have closed my main bank account (that all my direct debits and wages were setup on) for not paying my credit card.

NOW, they have not closed the Credit Card account and are still charging me late payments!

as you can imagine im annoyed!

what can i do, just live with it?

lisyloo

Why are you annoyed?

I'm not going to grill or judge you, but there are agreements between you and the bank. You broke them.
I'm not going to grill you on that but the simple fact is that you did break the contract and they have no obligation to continune to let you use their services.
They are entitled to not want you anymore if you aren't going to play by the rules.

Of course they are going to still charge you if you haven't settled.
What would you expect?
They can't close your credit card until you settle it.

What you can do it settle it in full and hope another bank will take you on.
However the late payments will reamain on your credit record for 6 years after closure and you can't expect other banks to view you as a desireable customer.

mong0l

im annoyed because although my fault all my rent, gas, elec, phonebill, wages got bounced because of not paying a seperate account.

i have another bank account now, but i suppose i just didnt think they would close one account for having arrears on the cc.

i just cant see how its acceptable to close my main bank account for missing 2 payments on their credit card because they cant close this account? isnt that being vindictive?

im not gonna put anymore as its going to be an uphill struggle against the mentality of response.

97trophy

mong0l wrote: »

i just cant see how its acceptable to close my main bank account for missing 2 payments on their credit card because they cant close this account? isnt that being vindictive?

No, it's the bank protecting themselves against further losses. You might well be able to pay it back in full many times over but from their point of view you are a high risk.

Yes, its tough treatment but they don't want to end up being bailed out like RBS and Lloyds.

lisyloo

Sorry if you don't like the message.
This happens quite a lot.
When people don't like the facts, they start taking it out on the responder.
I'm sorry about what's happened but it's not my fault - so don't start having a go at me OK.

It's partly down to the credit crunch that banks have become very risk averse and seek to reduce risks and unfortunately they see you as a risk.
It's very common that banks have such things in their terms and conditions.
If you default on one account then they reserve the right to close others or take the money from elsewhere.
It's in the terms and conditions you agreed to.

Sorry if you dohn't like the mentality of the banks.
But let's be clear - it's not MY mentality that's in question here.
I am just presenting facts.

It does however make me wonder of the point of presenting facts that people ask for when they keep shooting the messenger who is always givign their time for free.
Sorry if you don't like it, but don't have a go at me.
I didn't make the rules, neither did I say they were goood, neither did I break them.

You said from the outset that you didn't want people havnig a go at your despite the fact that you make a mistake.
Well I've made no such mistake (apart from trying to help) so why is it acceptable to have a go at me???
I didn't say I agreed with them, just telling you that's how it is.

If you want to get friendly, helpful advice for free from these boards, then there is no call for insulting polite responses that present the facts.

Eric_Pisch

As a good tip do not rely on a credit card linked to your bank...

I found out the hard way, I had 2 cards both from Barclay's a VISA plat and a MC

A client payed me late I went over my OD limit by £10, Barclay's then shut down my Debit Cards and Both my Credit Cards and I was unable to even buy Petrol to go to work ....

lisyloo

Seems very harsh for £10 Eric.
I took out a second credit card recently.
My Egg card is due to run out soon,
They can sometimes simply decide not to renew them even though I've not breached any terms and conditions.

Some of these stories sound very harsh, but yes, the banks can do this.

HouseHuntr

Eric_Pisch wrote: »

As a good tip do not rely on a credit card linked to your bank...

I found out the hard way, I had 2 cards both from Barclay's a VISA plat and a MC

A client payed me late I went over my OD limit by £10, Barclay's then shut down my Debit Cards and Both my Credit Cards and I was unable to even buy Petrol to go to work ....

Now pull the other one !!

NickX

It cannot be stressed often enough how important it is that anyone who is struggling to repay their debts ensures that any positive funds are kept in a bank account with a completely separate financial organisation.

With the banking crisis, we are seeing more and more reports of banks exercising their "right to offset".

Do not let them get away with this, keep a non-linked bank account at the first sign of trouble.

Joe_Bloggs

Life is an uphill struggle. I think it is better to be sentimental than mental or perhaps the other way around. MSE Martin has written an article which outlines the banks set-off powers here.
J_B.

woody01

mong0l wrote: »

im annoyed because although my fault all my rent, gas, elec, phonebill, wages got bounced because of not paying a seperate account.

i have another bank account now, but i suppose i just didnt think they would close one account for having arrears on the cc.

i just cant see how its acceptable to close my main bank account for missing 2 payments on their credit card because they cant close this account? isnt that being vindictive?

im not gonna put anymore as its going to be an uphill struggle against the mentality of response.

What do you expect? You broke all the agreements.

Also, only somone that has demonstrated the immense stupidity you have with funds, would also be thick enough to have such an offensive username!

I hope the banks sting you for every penny you have and more.