Ethics

Rizzo_3

Sorry this is gonna sound like a bit of a moan, but if anyone has any suggestions as to what I should do they would be greatly appreciated!

Way back in April this year I tried to pay off the outstanding balance on my credit card so that I could cancel the account (having found a much better 0% deal!). The girl that was 'serving' me was so busy chatting to her mate next to her ordering her new summer wardrobe from a catalogue that she accidentally processed the transaction twice thus leaving my card in credit.

I didn't notice this until later that day, but being an honest lass I rang the credit card helpline to inform them of the mistake. They advised me that 'the bank would probably realise some money was missing and correct it themselves but to wait until my next statement came through and if the card was still in credit to go back into the branch'.

I waited until May, card was still in credit so I went into the branch- they didn't look too happy that I had waited until then to go into the branch but heyI'm a busy girl and I was only following the advice given by their customer helpline. They told me that this would be put right and the amount debited back off the card again.

June comes round and my card is still in credit! (If I had not told them and spent it by now do you reckon they would've noticed?!?!) Went back into the branch again to tell them this, and advised by staff that they aren't authorised to take money off a credit card and it has to be done by Visa. They said that Visa had been informed and it was being processed.

Now it is August and the money is still sat there on the credit card with nobody appearing to have missed it too much.

What would you do? :-/

Milarky

..advised by staff that they aren't authorised to take money off a credit card and it has to be done by Visa. They said that Visa had been informed and it was being processed

That sounds about right - they can no more 'recall' a payment from your credit card than you could if you had done this by mistake yourself.

I'd say jut leave it now. You've told them twice and it's in their hands. Your card is currently in credit (or not as much in debit). Either Just use it as usual and look for a withdrawal appearing just like any other item, and pay the statement as usual OR leave the card with a nil balance, spend using a different credit card (if you have one) and the next statement you recieve should be once they have finally sorted this out. (Query/dispute any interest if this is then charged)

DiggingOut

I agree. You've notified them more than once. My only warning would be that, if you use the credit balance on the card, put the money in savings, so you always have it as soon as you need it when they sort themselves out.

Rizzo_3

Thank you,

Seems a bit clearer now! Wasn't going to use the card again as had got one with better interest, so probably best to let it sit there until they decide to do something about it!

Thanks again.

Galstonian

If you are not going to use the card and want to close it then why not try a different approach. Call them and ask them to reduce your credit limit to a trivial level, if they ask why you can explain the situation but if they suggest leaving things as they are so that they eventually sort themselves out I would insist on the reduction in limit being put on. If you are planning to apply for any further credit soon then I would also suggest you ask them to notify the credit reporting agencies of the change in credit limit ASAP too.

Leia_Stephens

http://money.guardian.co.uk/creditanddebt/creditcards/story/0,1456,1331017,00.html

I am almost screaming after reading about what the Halifax have done in this article >:(.

H sent out debt collectors and added interest charges
to the cc debt of a borrower after he had committed
suicide (presumably because of his £15,000 cc debt) .

My first impulse is to close my 3 Halifax a/cs and move them elsewhere in protest at these unethical actions.

Leia

Galstonian

H sent out debt collectors and added interest charges
to the cc debt of a borrower after he had committed
suicide

Not trying to stand up for anyones actions but the article actually says the Halifax passed the debt on to debt collectors prior to being told of the man's death. It does not say the Halifax charged interest or continued to pursue the debt after his death, it appears that was the debt collectors.

If the Halifax said they would contact the debt collectors and then didn't then they are definitely at fault for that.
If they failed to say that the debt collectors would need to be told then their procedures are probably at fault.
If the debt collectors were informed of his death then they are cerainly at fault.

I fear that your reaction is merely what is to be expected from such senationalistic journalism (and this is certainly not the worst of it)

student100

I wouldn't even say that's sensationalist journalism, the article just states what happened. Somehow a mistake was made that meant the debt collectors went round after the guy had died. That's not really a big deal.

The issue is with the fact that the man had managed to borrow £15000 on credit cards which he obviously couldn't afford, and Halifax was just "one of the organisations that lent money to the unnamed man". As the article states, almost all credit card providers give huge credit limits to people who are already in debt. That is the unethical thing.

Robert_Sterling_3

Seems a bit clearer now! Wasn't going to use the card again as had got one with better interest, so probably best to let it sit there until they decide to do something about it!
Thanks again.

If this is your most serious financial problem many will envy you.

Shinds

SPEND IT WOMAN!!! ;D

peterbaker

Hold on ! Hang on a minute!  How can a thread get this long before someone points out that if you have a credit card account in credit you are effectively lending the credit card issuer YOUR money at 0%?

Call up the card company and when they say "How can we help you?" just ask them to look at the account to verify that the credit sticks out like a sore thumb, tell them briefly what happened, and then say its been 3 months ... correction .. 6 months, nothing has changed, it was an obvious mistake and could they please do a BACS transfer of the credit amount to your bank account (make sure you have your bank account sort code and account number when you call).

If they can't do that, ask them what they suggest.  It may be as simple as "Well we can get rid of it by doing a balance transfer to another credit card for the amount you are in credit".  If so, that wouldn't cause any problems would it?  But don't finish the telephone call until the action is done.

Credit card companies giving customers money at 0% sounds crazy enough, but customers giving card companies money at 0% is not to be recommended  ;)