Jacamo - how to close account?

obay

hi,

just asking here, I've just finished paying the lot off (just paid off the last lump today) and I would like to cancel so they don't charge anymore Interest on the account..

How can I do this?

Thanks.

jonesMUFCforever

You may have trailing interest from the date of the last statement to when they applied your funds to your account.
I would wait until the next statement pay off the pennies owing and then e-mail or write a letter to cancel the account.

chanz4

I just sent a message via online account, they did it

obay

Just to let you know i paid off ALL interest, all minimum payment on day i got it

redpete

obay wrote: »

Just to let you know i paid off ALL interest, all minimum payment on day i got it

There might still be a day or two of interest from the date they printed the statement to the date you paid it (presumably you paid the full amount, not the minimum amount.

Still need to check the next statement to see if there is a small amount of interest.

If you have paid it all off then they will not add interest just because you have not closed the account.

obay

I paid the min on time on friday today i paid the full amount

redpete

obay wrote: »

I paid the min on time on friday today i paid the full amount

So 2 days' worth of interest on the amount you paid today could appear on your next statement.

fozmcfc

Obay, please take note of what you are being told.

Many people have ended up with a trashed credit rating, because they assume accounts have £0 owing, when they have a few pounds or even pence trailing interest to pay.

All you need to do, is wait until you get your next statement and if it shows £0 then go ahead and close it.

samtoby

I got caught by that - another trashing to my credit rating back in 2007. Always wait until next statement to see the £0 balance

obay

Yes, they calculated 2 days and it ended up working out to be £30 aparently.. but account has been CLOSED.

pvt

obay wrote: »

Yes, they calculated 2 days and it ended up working out to be £30 aparently.. but account has been CLOSED.

Just because you've CLOSED your account doesn't stop interest being added in accordance with the Ts&Cs of your account.

And I suspect that interest is for 32 days, not 2 days.