Tesco Credit Suspended for going into Credit !

mtbjase

guys - thanks for all your replies ..clearly I have broken the T and Cs ( wasn't aware of this ) until I was informed .I have no issue with the credit been returned ......Whats shocking is the terrible way I have been treated ...........I have no communication since Monday when they suspended my account ........I was told they would refund the credit balance but I don't know where to or how or when ????????? I spoke to the customer services manager on the Monday night and she was horrified what had happened and how the fraud dept had dealt with the issue .I was promised an e mail yesterday detailing everthing but nothing so far ..that's what I am complaining about ...yet again poor service not what they are doing but how they are doing ( or not doing it ) Thanks

nearlyretired2004

But just realised, I have a Halifax Clarity credit card which I only used for overseas spending. Paid off in full when I got back but didn't realise I was somehow entitled to Cashback and got £5 credited to the card a few weeks later - I hadn't thought about the 'not being in credit' Ts and Cs - so I too have been in Credit for about a year !! (last used the card May 2016) ..... err, are they likely to cancel my card as it was technically them who put me in credit?

Guess I should just spend it as I dont want the card cancelled before my next overseas trip .....

[Deleted User]

No. That's a very different scenario.

You're more likely to have it cancelled through dormancy, than the credit.

bukko

They do this because (I believe) they now have to pay you interest if you are in credit for too long.

It does seem like they were rather harsh after you phoned. They could have dealt with it much better, but they are just people. Maybe the manager had just been criticised, or is new, or was just having a bad day!

You won't get much sympathy on this forum though as there are plenty of people here who seem to enjoy kicking those who make mistakes. However badly you were treated, that is irrelevant to them; they will cling to your error like it's all that matters.

Anyhoo, lesson learned - have a great day!

[Deleted User]

bukko wrote: »

They do this because (I believe) they now have to pay you interest if you are in credit for too long.

Not true. You don't get paid interest on any positive balance.

[Deleted User]

mtbjase wrote: »

I was promised an e mail yesterday detailing everthing but nothing so far ..that's what I am complaining about ...yet again poor service not what they are doing but how they are doing ( or not doing it )

The problem you may now be facing, is that you may have raised money laundering flags at their end If so, that means they won't be talking to you any time soon - or returning any funds - while they conduct their investigation.

The customers services team won't tell you if there is an investigation or not.

All you can do is sit there with every finger you have crossed and hope that it's resolved.

chattychappy

bukko wrote: »

They do this because (I believe) they now have to pay you interest if you are in credit for too long.

It's because of regulation. Deposit taking is subject to a regulatory regime which is distinct from consumer credit. It is possible to have a single product that works both ways (eg bank current accounts), but in general they like to keep credit cards separate. Positive balances are not a problem they arise transiently or other than by deposit taking (eg a refund which is ancillary to lending), but if the CC allows the consumer to deposit money by way of business, then they are into a different world.