Santander Cancelled it's Credit Card

gokhan

Hi,

I applied for Santander's 123 cashback credit card in November, was accepted with a limit of £4,900 with 18 months 0% APR offer.

I done my normal spendings on this card to earn its cashback etc now my balance is about £2,250.

Yesterday I looked at my online banking and the credit card account was no longer there! I called the customer services after waiting 20 minutes on hold the advisor said "Santander has withdrawn it's credit card services" and I can't speak any more about this matter you will receive a letter.

I applied to the credit card at the beginning of November so about 2 months later they decide to cancel the card and make me go into debt.

Certainly after all this hassle I don't want the card nor will keep any current accounts with Santander.

I just wanted to know where I stand with the money I owe them can I still insist on the 18 months offer?

Will this effect my credit record in a bad way?

Can I appeal to this at the financial ombudsman ?

Thanks,
Gokhan

Fruit_and_Nut_Case

Sounds a bit of a mess. Just so we know, have you been making at least the minimum payment each month?

And you need to exhaust Santander's procedures before you can go to the Ombudsman.

ACG

I have just applied to them for a credit card and been accepted - for the life of me nobody will tell me the credit limit until I get the card. If the limit is not enough I want to cancel it and go elsewhere. Better still the woman I spoke to was so rude and matter of fact I actually wanted to tell her where to shove the card but that would jsut be cutting my nose off.

I would assume so long as you keep up atleast the minimum payments you will be fine. Just keep an eye on your credit report (free one can be obtained from noddle.co.uk).

gokhan

I setup a direct debit fixed payment of £150. The first payment is due on the 9th of January.

grumbler

gokhan wrote: »

....the advisor said "Santander has withdrawn it's credit card services" ...

This is nonsense.

15.2 We will tell you that we are cancelling or suspending your
right to use the Card or Account and give you our reason for
doing this. Where we are unable to contact you to tell you of
this we shall stop use of the Card or Account and let you know
immediately after. Where your use of the Card or Account is
unlawful we may cancel or suspend your right of use without
telling you first.
...
22.1 Unless there are exceptional circumstances we will
give you two months’ written notice if we decide to end this
agreement.

Terms & Conditions and Important Information

BTW, it has to be "its" NOT "it's" in the title.

dzug1

Sounds very odd - but you were already in debt to the amount you have spent, they haven't 'made' you go into debt any further.


You've been making the minimum payment presumably?

gokhan

I guess it's best to just wait for the letter ? Apparently everything is written in that letter..

Hazzinho

Have you wracked up debts with another lender or missed payments. Were you honest about your earnings? Lenders know about external factors no matter how well you manage their account to reduce risk. So if you've just got a big loan around the same time for example and you're just been paying the minium they may react as it wasn't part of their original lending decision. If you borrow around 50%+ of your annual salary lenders see you as a risk.

saver861

I have played the credit cards for many years and it has worked well to my advantage but I have never had a company pull the card.

Only time it ever came close is when I forgot a payment and the company put a stop on the card and contacted me. I sorted it out and then it was all cleared up.

There is a reason for them doing so - you need to find out why. It could be just an error - though if it is an error it might also have gone through to your credit history.

Either way I'd be finding out.

chanz4

sounds like the suspect somethings a miss

block10

Has anything else changed on your credit report recently? Any defaults etc?