MSE News: Tesco cancels some customers' credit cards just two weeks before Christmas

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  • sourcrates
    sourcrates Posts: 28,987 Ambassador
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    edited 11 December 2017 at 7:03PM
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    The amount of people who are complaining about this on various social media sites, just goes to show how reliant a lot of people are on using credit for day to day living.

    I expect come January the flood of people we see seeking debt help will increase dramatically, after all, the figures speak for them selves :


    People in the UK owed £1.557 trillion at the end of September 2017. This is up from £1.505 trillion at the end of September 2016 – an extra £1,030.47 per UK adult.

    The average total debt per household – including mortgages – was £57,490 in September. The revised figure for August was £57,311.

    Per adult in the UK that’s an average debt of £30,096 in September – around 113.8%of average earnings. This is slightly up from a revised £30,012 a month earlier.


    Based on September 2017 trends, the UK’s total interest repayments on personal debt over a 12 month period would have been £49.885 billion.
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  • Kim_13
    Kim_13 Posts: 2,489 Forumite
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    Indeed, I doubt many people are only annoyed with Tesco because they can't use the card to get extra clubcard points on their spending. The debit card after all has an equivalent earning rate to the credit card now (and a better one within Tesco until April 2019.)
  • Shakin_Steve
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    sourcrates wrote: »
    The amount of people who are complaining about this on various social media sites, just goes to show how reliant a lot of people are on using credit for day to day living.

    I expect come January the flood of people we see seeking debt help will increase dramatically, after all, the figures speak for them selves :


    People in the UK owed £1.557 trillion at the end of September 2017. This is up from £1.505 trillion at the end of September 2016 – an extra £1,030.47 per UK adult.

    The average total debt per household – including mortgages – was £57,490 in September. The revised figure for August was £57,311.

    Per adult in the UK that’s an average debt of £30,096 in September – around 113.8%of average earnings. This is slightly up from a revised £30,012 a month earlier.


    Based on September 2017 trends, the UK’s total interest repayments on personal debt over a 12 month period would have been £49.885 billion.
    The government would be over the moon if that’s all they had to pay in interest :)
    I came into this world with nothing and I've got most of it left.
  • chattychappy
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    Don't think this has anything to do with people relying on CCs because they haven't got money.

    It's more like they are relying on CC as a means of payment and it's a nuisance to be without your favourite card. No doubt people will use debit cards/cash, but it's not so convenient. Plus no clubcard points/S75 protection.

    Moral is: have more than one card.
  • eco_warrior
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    gsmlnx wrote: »
    @TiVo_lad
    And the most annoying thing will be Tesco not saying where the data was leaked from.
    Several years ago I had a credit card, details of which were found during a police raid. The bank phoned me, informed me of the issue, cancelled the card, sent out a new one within 2 days and told me where the details had been stolen from. And they ensured that I had no unauthorised debits on the card too.
    So good companies can be helpful, Tesco Bank aren't really helping the customer here.

    Telling customers would be daft tbh as some customers would boycott the merchant who’s been hacked or even take matters into their own hands, it has been known.

    True transparency can’t cause more problems than it solves. If you were told it’s likely the person who told you wasn’t really meant to or was putting 2 and 2 together
  • Chrysalis
    Chrysalis Posts: 4,185 Forumite
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    TiVo_Lad wrote: »
    What will have happened is that Tesco will have uncovered compromised card details somewhere. Not necessarily from them, but perhaps from an online retailer. Could be anywhere. They cancel the card to prevent fraudulent use. Which is fair enough.

    Which raises another point, if they are aware of a retailer been compromised, they should disclose it so customers of said retailer can take action.

    I dont think its moral in these situations to keep scum about the source of the problem.

    e.g. I was told by a website yesterday they are forcing me to change my password because the password I used was revealed on a compromised website. I asked them what that website was as obviously I want to know where my account has been compromised elsewhere and they refuse to tell me.
  • [Deleted User]
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    Telling customers would be daft tbh as some customers would boycott the merchant who’s been hacked or even take matters into their own hands, it has been known.
    So you want people to use a merchant who has broken security? And who may not fix it properly?

    I know that I did not go to the company that leaked my details as I had no trust in them to not do the same thing again.
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