Store Card Cancellation

Dwrob96

My Wife went into New Look and the salesgirl talked her into a card. My wife thought it was a loyalty card, but it's a credit card backed by Ikano finance.

I've checked the agreement whisch ays we have no right of cancellation, but a) it was not explained to my wife that this was a store credit card and b) the salesgirl did not tell my wife she would not be able to cancel.

Any advice appreciated.

scottishblondie

Just pay off anything spent and close the account ASAP.

Dwrob96

scottishblondie wrote: »

Just pay off anything spent and close the account ASAP.

Many thanks.

That's what I planned to do (after the customary screaming fit at my wife.) Fortunately, she only spent £20 on it and I'm going into the shop tomorrow to read them the riot act and pay them the £20.

Will that be the end of it? I'll check back after I've seen them.

ehlo

That's what I planned to do (after the customary screaming fit at my wife.) Fortunately, she only spent £20 on it and I'm going into the shop tomorrow to read them the riot act and pay them the £20.

Surely the £12 has to be paid to Ikano Finance?

triticale

If she thought it was a loyalty card, was she not surprised that they took it as payment?

CLAPTON

why is it a problem?

crayola

Chill, don't worry, and please don't yell at your wife who has every right to make a financial decision of her own, albeit (apparently) a mistaken one! Though I agree that she probably knew it was a storecard - surely she didn't believe this 'loyalty card' was giving her the goods for free!

At this stage you haven't lost anything (except a trace on her credit score which will only be a problem in specific circs). I was talked into doing something similar at Debenhams recently and once I'd paid the bill from that initial spending spree, the only difference it made to my life was that I got 10% off some shopping I had already decided to buy anyway. I won't use it again so I don't pay them anything more. She just needs to pay off the bill from what she bought on the day she opened the account and then she won't be liable for any more interest.

ETA There is a good guide to using storecards somewhere on the main site: basic rule of thumb is never use it to borrow, get the discounts while you can then put it to bed.

Dwrob96

Thanks for the advice everyone.

My wife and I have an understanding that we do not sign for credit unless we're both there, which is why I was so annoyed, and I couldn't understand why she didn't twig that it was a credit card when the salesgirl told her she didn't have to pay. Perhaps her brain was in neutral, but it;s more likely that she was thinking about two dozen other things at the same time.

And Ehlo, you;re wuite right. The payment needs to be made to Ikano.

After that, the card will be put in a special place: The dustbin. one piece at a time over the next two months.

Again, many thanks for your advice.