Account Closure

jimmy*c

Evening all, hope everyone's getting ready for Christmas day!

I paid off my Vanquis credit card last month, bringing me £9.85 in credit to them. I rang up a few weeks back asking for the credit to be refunded and for my account to be closed. The refund, I was told, would be bank transferred to me in a few days, and my account would be closed when the next statement was generated.

So, I still haven't received the credit refund but my account is still open? My statements were always generated between 10th and 14th of every month, and since this date has passed I would have thought that would've been the time where the new statement was generated, but my account is still open and the credit has not been refunded yet...

I rang up again tonight asking the same as before as it appears nothing has been done... at all... I was given the same answers as before, but I was told that my credit will be in my bank account on monday, and the account won't be closed until the next statement date (now Jan '15).

It sounds a bit funny to me. I mean, I've never heard of this before, and I'm not saying "that's not how to handle this, i'm going to complain", but it just seems a bit funny that they can't close an account until the next statement date. If the account was closed, there WOULD BE NO STATEMENT to generate!!

Any insight would be appreciated 'savers

grumbler

jimmy*c wrote: »

... If the account was closed, there WOULD BE NO STATEMENT to generate!!

I think the final statement has to be generated on the closure.

jimmy*c

So I do really need to wait then? If so, why would the statement for December not have been generated? It should have been closed by now.

jonesMUFCforever

Why did you overpay by £9 odd?
Could it be that this is deferred interest which will be charged to account on your December statement which will then bring the balance to nil.
Might be an explanation why your original request was not actioned.

jimmy*c

I didn't "mean" to - I'd already made a payment for the month (try my best to avoid minimums), but when I'd come into some money I thought I should pay it off as soon as possible, so I paid what it said the balance was. A few days later it appeared on my account and I was (and still am) £9.85 in credit.

Surely if interest had been deferred, they would have explained this to me when I rang up tonight as I did flat out ask "Why was it not closed at my last request?". All I got back was "You need to wait for the next statement to be generated".

jonesMUFCforever

If your card was not cleared in full for last 2 months how much interest have you paid?
From the date of November statement to the date you phoned to close the account some interest will have accrued.

jimmy*c

I cleared the balance after paying 30ish for the nov statement, around 22nd nov. Since the balance has been reduced to zero, there would be no interest as there is no balance! And as I said, if interest has accrued, surely they would be telling me this before closing my account (it's in their "interest" afterall)...

jonesMUFCforever

You cleared the balance? Was it the statement balance or were you given a figure by them to clear and close the account.
If statement balance there would have been at least trailing interest - not saying if this would come to £9.
You would have had to have had a clear statement for 2 months for interest to stop.

planteria

agreed, and you should certainly receive a further statement..right up until the point where the balance is zero and the account is closed. i would want the paperwork from your card provider to confirm this, if i were you.