Credit card fee

Zt123_2

Took out a credit card a year ago, as was free for the first year when I opened another bank account at the branch. I've never used it and my annual statement came through today, I phoned up to cancel but they want to charge the £24 annual fee even though I don't want to use it for the next year! Apparently I had to give a months notice but had no reminder/renewal letter and phoned up the same month as I took it out last year. Can they do this?

InsideInsurance

Read the terms you agreed to when you took it out. Also check the statement to see if there is any anniversary date or such on it so you know when the year is

Zt123_2

Never had a statement for the card as never used it. Will check the terms! Just seemed a bit ridiculous.

thebritishbloke

If you're talking about the Santander 123 card, it's a case of "tough". The terms say that you have to pay the fee, recently happened to a relative to mine where they'd never used their card either.

Buzby

is this the Santander 123 card? If so, they clearly state the cost in the application, and that continued use of the card (or in your case, non use) will cost you £24pa. I planned to cancel mine, but I was earning so much cashback, I would have been shooting myself in the foot. It looks as though your inattention caused the charge - and unless they agree to waive it, you're stuffed.

Why anyone applies for a card then doesn't use it is another conundrum....

grumbler

thebritishbloke wrote: »

If you're talking about the Santander 123 card, it's a case of "tough". The terms say that you have to pay the fee,

However, they don't say anything about a month's notice that the OP apparently has to give according to the CS.

You may end this agreement at any time by writing to our
Customer Service Department at the address in Condition 20.5
or calling us on 0845 602 1582* and paying the full amount
you owe us.

That said, as the OP received the annual statement, then the second year has already started, and indeed this is a case or "tough".

It's too late to shout: " I don't want to use it for the next year!"
@OP: it's not an insurance and doesn't require any 'renewal letter'. It's a credit card with a fee that was waived for the first year. Start using it and you will easily recover £24.

jonesMUFCforever

So if you have already ''paid'' the fee why not get your revenge by using it from now on and get more cashback than the fee?

PeacefulWaters

jonesMUFCforever wrote: »

So if you have already ''paid'' the fee why not get your revenge by using it from now on and get more cashback than the fee?

This.

Maximise the opportunity.