Cancelling Santander 123 CC

Krash420

It's now coming upto the end of my "first free year" of the Santander 123 CC during which I've earned £18 in cashback. As such, even on £24 a year fee, I'd likely cancel, with the fee now at £36 a year, I'm definitely cancelling.

I've received this months statement, along with a letter telling me that I'll be charged £3 from next months statement onwards, and once the direct debit goes through for the current statement, I'm planning on cancelling my card.

Now my question is regarding the cashback. What happens to the cashback that I've earned between my last statement date and when I cancel? Will they give me that into my account, will it come off the final balance, or will I lose it? If I'm going to lose it, I wont bother using the card anymore (only ever did use it for filling up petrol and when going to Sainsbury's).

I also assume, if I cancel after they've charged me the fee, they'll refund me the fee given that the fee is taken in advance and not in arrears...

matty17r

I closed my 123 santander credit card yeterday and it was 60p in credit which they have transferred to my current account. Hope this info helps. I rang them by the way. Once the fee has been charged I dont think they will refund it. Well they wouldn't for me any way.

phona

I closed mine by sending a secure message in online banking. They did it very quickly.

I didn't get the outstanding cashback, which is a little annoying. Best bet is to pay it off and get it closed.