Closing an 'in credit' credit card.

hes109

Hi, could really do with some advice!!!
I recently transferred £1800 from my fathers HSBC credit card to mine in order to get another 6 months interest free. At the same time my father paid £1800 into his HSBC account to avoid paying interest meaning his HSBC credit card account is now £1800 in credit. We didn't worry about this because obviously when he closed his HSBC credit card they would transfer to him the £1800 credit. He rang up HSBC to cancel the account and have the money transferred to him but HSBC are refusing to do this. They say that they have to transfer the £1800 back to my credit card as this is their policy for large amounts of money. Has anyone else heard of this? Obviously we don't want to money transferred back because even though this will leave both accounts with a zero balance, my dad didn't plan on paying the £1800 up front, only in interest free installments for 6 months. Does my permission not have to be sought in order to transfer this money onto my account. If I say I have closed my credit card account meaning there is no account for HSBC to transfer the money back can they still refuse to pay money from an in credit account into the account owner's bank account?

Any advice will be gratefully appreciated!!

Thanks, Hannah

King_Of_Fools

HSBC do not have to seek your permission to refund your money to you (they would if they were going to take money from you). Even if you "close" your credit card account money can still be refunded to the account.

I think your best option would be for your father to use the HSBC card for all possible spending and, thus, get the money back in monthly installments (by not having to pay out of the current account). He can then use the money he saves each month to pay you back.

hes109

That is not a bad idea King of Fools, many thanks for your help!