Topshop Store Card Problems

jazzyblues

To cut a long story short I've had a Topshop store card since 2007 and my credit limit is £400. A couple years back I went over the limit and now my balance stands at £620 (£260 in arrears), but I've been paying £50 per month to Viking Collections Services. My card is still in possession and I continue to get monthly statements from Topshop with a small box of print saying: "This is for info only, please continue repaying Viking regarding your agreement etc. I'm planning on clearing half by paying £300 off (bringing me £80 within my agreed limit). Just wanting to know once I'm back in green can I start using the card etc? They've never formally requested I return my card/tell me my agreement was terminated? I simply want to keep it open as a line of credit to start using responsibly in future, but am wondering if they don't care about this now? Please help very confused!

andymc29

Isn't the interest really high on those cards. surely a credit card would be abetter option, or not even using credit to buy clothes at all?

jarryslink

My card is still in possession and I continue to get monthly statements from Topshop with a small box of print saying: "This is for info only, please continue repaying Viking regarding your agreement etc. I'm planning on clearing half by paying £300 off (bringing me £80 within my agreed limit).

kudos_ni

jazzyblues wrote: »

Just wanting to know once I'm back in green can I start using the card etc? They've never formally requested I return my card/tell me my agreement was terminated?

I think you should focus on paying this off as quickly as possible rather than wondering if and when you'll be able to use the card again. Interest on store cards is so much higher than other credit cards.

jazzyblues wrote: »

I simply want to keep it open as a line of credit to start using responsibly in future

Responsibly? You weren't responsible with it to begin with - buy going way over your credit limit and now struggling to pay off the balance.

My advice is to just focus on paying off your debt.
You shouldn't need credit to buy clothes. If you don't have the cash available to purchase stuff - you can't afford it, and so should not be buying it.

andymc29

You shouldn't need credit to buy clothes. If you don't have the cash available to purchase stuff - you can't afford it, and so should not be buying it.

Well said!

jazzyblues

Thank you everyone! I feel like y'all are ganging up on me lol. I just meant that in an ideal world I'd like the account to still be active, so that then I could charge a low amount and then pay off in full. My intention is not to use this card ever again to "buy my clothes". I simply saw it as perhaps a tool that could improve my score eventually? If THIS TIME used responsibly. Anyway, I've heard that as soon as credit is "charged off" i.e. goes to a debt collections agency, the creditor (Topshop) automatically notifies me I can longer use the world, must destory it and my account is closed.Thoughts?

jonesMUFCforever

I would be amazed if they let you use the card again - try it and see.

RuthnJasper

jazzyblues wrote: »

Thank you everyone! I feel like y'all are ganging up on me lol. I just meant that in an ideal world I'd like the account to still be active, so that then I could charge a low amount and then pay off in full. My intention is not to use this card ever again to "buy my clothes". I simply saw it as perhaps a tool that could improve my score eventually? If THIS TIME used responsibly. Anyway, I've heard that as soon as credit is "charged off" i.e. goes to a debt collections agency, the creditor (Topshop) automatically notifies me I can longer use the world, must destory it and my account is closed.Thoughts?

Hi Jazzy, I'm sorry you feel a bit 'got at' by some of the replies. Please don't take it personally. It's just that a lot of posters come onto threads at various times, having a rant about debts they've built up through failing to read the information prior to handing over bank details, or for whatever reason, and then become annoyed about the debts because they cannot see their own culpability for the situation. OK - you've found yourself in this fix, but at least you are making plans to sort it out, and that's always a good thing.

Personally, I would address the issue with TopShop once your account is back in order. TopShop may wish to keep you as a customer and they've probably made a nice bit of profit for themselves out of the interest that you've had to pay.

Ultimately, however, the choice lies with the card provider (in the case of TopShop it's Santander Cards). They may be happy to keep your account open, as long as it doesn't fall into arrears again - but only they can make this decision.

Please do bear in mind what other posters have said here though. The interest rates on these store cards tend to be quite high and when you sit down and think about it, the benefits to you may be outweighed by the interest you're paying on the card balance. Also - and this would be the big thing for me - if the card is there - then so is the temptation! Until relatively recently, I just couldn't help myself if I had a card with some available balance on it in my purse. This has led to my present circumstances (IVA and tough living). You may be better off saving up available funds for a day's shopping as a treat, or get a credit card with a low limit and a more sensible interest rate - and be sure to clear the balance in full each month!

Whatever happens or whatever you decide - good luck to you. xx

jazzyblues

Thanks so much for that, great advice! Best to you also

chuckley

as it's now santander it depends. with some companies they'll send again. santander on the other hand change their rules whenever they feel like it.