RBS Credit Card Criteria

Pollycat

Hi
I've had a Mint credit card for 3 months and have used it within the General Conditions.

On Tues 23/1, I used it for a transaction and it was declined.
I've received a letter from Mint today, requiring the return of my cut-up card and advising me that my credit limit has been withdrawn.

I've spoken to Mint Customer Services and been told that 'it's nothing I've done wrong with my account', but Royal Bank of Scotland have reviewed their criteria and I (plus loads of other people according to the chap on the phone) now fall outside their acceptance criteria.

Mint 'require' return of the card under Section 1 (C) of the General Terms:
"We own the card and if we ask, you must cut the card in half and return it to us."

However, section 7 (a) of the General Conditions states:
"We may end the agreement at any time after giving you written notice, which in normal circumstances will not be less than 30 days."

As I have not misused, abused, or failed to meet the terms and conditions regarding the use of the card, I can't see why they haven't given me 30 days notice.

They've also withdrawn on-line access to my Mint account.

My only ‘crime’ appears to be falling outside of RBS's revised acceptance criteria.
I can't understand why they've acted with such aggressive speed on an exisiting account.

Given this treatment and the very non customer-first tone of the letter, I want to take this further.
Has anyone else experienced this or can you offer any advice, please.

I'm really angry.

Polly

BONJOEY

thats awful!!! did you explain that they havent given you 30 days?

also most companys do this without warning , otherewise some customers who know they have to return the cardspend on it mad to max there limit beforw returnng,

what about your outstanding balance?

do they intend to charge you intrest on that?

Pollycat

Thanks for replying, Bonjoey

I did explain to Mint that they'd not given me 30 days notice, but all they said was that they'd acted under Section 1 (c).

I then said they'd breached General Condition 7 (a), she referred to Section 1 c) and we went round that loop for a while.

The letter says that if I 'comply with this request (Ha Ha) and repayments continue as arranged, formal demand for repayment of the whole debt will not be made.'

I'm currently paying the minimum by Direct Debit as I have Interest Free until July. I will then pay off the balance in full - as per my plans all along as I only took the card out because they offered interest free for a period.

I'm just livid that they've acted in this way without giving me notice.

I've got a letter of complaint ready to go to RBS.

Polly

crazyfj

I would ask them for a copy of your account details/records under DPA, it may cost you £10 but it may give you some details to why the problem has happened.
fj

Pollycat

fj
Thanks, but I'm not sure where that would get me, because Mint have already told me why - RBS have reviewed their criteria and I've fallen outside it.

True, I don't know the reason why I've fallen outside it - I was obviously an OK credit risk when they offered me the card 3 months ago and my financial situation hasn't changed since then.

From what Mint said, I'm just one of many, which is why I posted on here to see if anyone else has had the same experience. If I AM the only one, then I'm gonna get paranoid :shocked: - and I really WILL want to know the reason why.

Maybe they've just realised that I only took the card out for the interest-free period and intended to pay the amount outstanding in full before the interest period starts.
My first reaction was to say 'Sod you, here's all the money I owe' but then realised that I'd just be cutting my nose off to spite my face.

Polly

Pollycat

Just an update on this situation:

I emailed the Royal Bank of Scotland regarding the withdrawal of my Mint credit card as Mint had said it was a decision caused by a review by RBoS of their criteria.

I received a reply today (from Mint) stating that the Bank is not obliged to disclose the reasons behind their decision to ‘require the immediate return of the card issued to me’.

They say that they have not ‘ended the agreement with me’, but they have ‘removed the card facility in accordance with Condition 1c of the Terms of Issue’ and therefore they do not need to give written notice.

They have confirmed that they have ‘in no way recorded any adverse information regarding this closure with the Credit Reference Agencies’. They go on to say that this will not hinder me should I wish to apply for credit with other lenders.

Can I trust what they say with regard to my credit rating?

Of course, even though they say they’ve not ended the agreement, as soon as the 0% interest period expires (July 2007), I will be paying the outstanding balance in full and will contact them to end the agreement myself.

I have no idea what triggered this off. Here’s my financial position:

Although my husband & I have a number of credit cards, the only one that has an outstanding balance is my Capital 1 card and that is £11.00, which will be repaid in full by Direct Debit.
We have never exceeded our credit limit on any of these cards.

We have an agreement with a furniture company for a 3 piece suite which is paid by Direct Debit and only has another 8 months of a 36 month agreement to run.

We have no other loans and although we theoretically have a mortgage of around £30k, it is an offset mortgage and our account is currently in credit (just).

We have well over £50k in savings plus substantial investments in PEPs, ISAs and shares.
I am in receipt of a pension (early retirement) that is in excess of what some admin type jobs pay for 37 hours per week.

My husband has recently finished work but is not in receipt of any income (other than from the elements mentioned above).
He was not an additional cardholder on my Mint card.

So, how could I change from being a person that RBoS considered an acceptable customer for one of their credit cards to such an appalling credit risk to their organisation that they had to immediately stop the use of my card, in the short space of three months?

Thanks
Polly