Closing M&S Credit Card account

edited 30 November -1 at 1:00AM in Credit Cards
3 replies 8.7K views
sjcsystemssjcsystems Forumite
13 Posts
Seventh Anniversary Combo Breaker
edited 30 November -1 at 1:00AM in Credit Cards
Any advice on this...

I telephoned M&S Bank on Monday of this week to close my credit card account. There was a small balance and one pending so I did an immediate debit card deposit to clear it. I've just checked and it's a zero balance.

I phoned them and I've been told that I cannot close the account until they have issued me a zero balance statement, which won't be until 4th May. However, nowhere in their Terms and Conditions does it say anything at all about having to wait for this statement to be issued. The lady on the 'phone was adamant that they cannot issue two statements in a 30 day period so it has to wait. The termination clause says that either party can give written notice to the other that they wish to terminate the agreement. I was told that my recorded call was sufficient instruction to terminate the agreement, but it won't be closed until 4th May.

My opinion is that if this isn't in the T's and C's, then I'm not bound by their administration shortcomings.

Is that the case ?

Thanks in advance


  • zx81zx81 Forumite
    33.2K Posts
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    They'll need their systems to reflect a zero balance, so while it may be a bit annoying, if that's how the system operates, then that how it is.

    It's only a couple of weeks away.
  • sjcsystemssjcsystems Forumite
    13 Posts
    Seventh Anniversary Combo Breaker
    Yes, but my whole point here is that they do not mention anywhere in the Terms that termination is dependant on this zero balance statement. It is only a matter of a couple of weeks away, but fundamentally, their Terms are wrong. I've now been called back and told it's a limitation in their IT system.

    Well as someone who has supplied software to regulated firms, I know full well that if something is found to be non-compliant, then it's absolute top priority to be changed. Makes me wonder how switched on they are.
  • chanz4chanz4 Forumite
    10.4K Posts
    Part of the Furniture 10,000 Posts Name Dropper Xmas Saver!
    I dont think that a month for an update is bad really, besides they have to ensure you have no stradaling transactions
    Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.
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