WWYD - credit card closure

DD265

So the situation is I have:

Halifax card, £5200 limit, 0% interest (until September 2015), Balance £4889.41
Barclaycard, £2k limit, no perks (0% on purchases ending 1st March), Balance £42.99

The BC balance is made up of three fraudulent transactions dated 12th January. I noticed these on the 18th January when I was making my final payment to clear the previous balance from my spending and reported them that night. New credit card received three days later. I should also have received a dispute form for the transactions and haven't. 4 additional phone calls later - including two failed call backs from them - and the suspension has been extended a further 28 days plus they are sending me a new set of forms. I don't see how it can have been much harder to sort this out!

I am so unimpressed that I would actually like to close the account . I have been keeping it open as an emergency fund and also so I wasn't up to my limit on my open credit but actually I probably don't need an emergency fund just now. I am in the process of getting a month ahead on my budget and then will throw everything at the Halifax card.

I will be moving this year (currently live with parents) but we intend to rent and won't be applying for a mortgage. I've never missed a payment so have a decent history. Do you think I'm safe to close the account and become "maxxed out"?

[Deleted User]

Instead of closing the BC account, I would wait until everything is sorted, then fire off a complaint letter to them.

Never know, they might compensate you if they've done enough wrong

CLAPTON

DD265 wrote: »

So the situation is I have:

Halifax card, £5200 limit, 0% interest (until September 2015), Balance £4889.41
Barclaycard, £2k limit, no perks (0% on purchases ending 1st March), Balance £42.99

The BC balance is made up of three fraudulent transactions dated 12th January. I noticed these on the 18th January when I was making my final payment to clear the previous balance from my spending and reported them that night. New credit card received three days later. I should also have received a dispute form for the transactions and haven't. 4 additional phone calls later - including two failed call backs from them - and the suspension has been extended a further 28 days plus they are sending me a new set of forms. I don't see how it can have been much harder to sort this out!

I am so unimpressed that I would actually like to close the account . I have been keeping it open as an emergency fund and also so I wasn't up to my limit on my open credit but actually I probably don't need an emergency fund just now. I am in the process of getting a month ahead on my budget and then will throw everything at the Halifax card.

I will be moving this year (currently live with parents) but we intend to rent and won't be applying for a mortgage. I've never missed a payment so have a decent history. Do you think I'm safe to close the account and become "maxxed out"?

makes no sense

OK the BC hasn't been the best performance but you need to sort it anyway : trying to close the account makes no sense and can only be a problem for you

a CC isn't an emergency fund : an emergency fund is a savings account with some money in it.

seems mad to consider moving out of home until
-a your are debt free
-you have a real emergency saving fund

in real life having 2-3 CC makes sense so worth keeping the BC in any case.