An error in my favour on my credit card account - can I take advantage of it?

Watson

I take your point but there was at least the possibility that Tesco would have honoured the 0% interest rate on a balance transfer so to that extent I am, ultimately, worse off than I could have been.

Silvertabby

!!!8220; Thanks for that; it makes sense. I'll have another go at phoning them this morning.

Edited to add:

The immediate response from the chap I spoke to was "Well, I've never heard of that before!". This was followed by him speaking to colleagues in other departments and then saying he'd ring me back. When he did, his new comment was "You're paying the price for being honest - you could have used that extra credit limit and it might never have come to light. And even if it did, there's no way you would have been held responsible, since it was entirely our fault".

But honest I was and £2500 poorer in credit I now am.
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Originally posted by Watson

... but you'll be able to sleep easy at night. If you'd kept this money, then you would never have known if it would suddenly jump up and bite you on the bum.

Watson

I can't deny that.

Watson

The error has now been corrected, the temptation has passed, and everything is as it should be.

Thanks to everyone who chipped in with thoughts and suggestions.
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bris

Watson wrote: »

Thanks for that; it makes sense. I'll have another go at phoning them this morning.

Edited to add:

The immediate response from the chap I spoke to was "Well, I've never heard of that before!". This was followed by him speaking to colleagues in other departments and then saying he'd ring me back. When he did, his new comment was "You're paying the price for being honest - you could have used that extra credit limit and it might never have come to light. And even if it did, there's no way you would have been held responsible, since it was entirely our fault".

But honest I was and £2500 poorer in credit I now am.
.

Well that's all nonsense, it's actually called theft by finding and you can go to jail for it.


I don't know why he would tell you that because he clearly doesn't know what he's talking about.


Banks have in the past and will again wrongly credit bank accounts. They know it's an error but the ones who spend it when the banks come calling can be charged for spending the money they know doesn't belong to them.


It's unlikely for 2.5k but the option is there for them and you certainly would be held responsible for stealing their money.

chattychappy

CakeCrusader wrote: »

It's technically theft if you know about an error and you don't tell them about it.

Technically? I don't think so. You've not actually appropriated any property. It is simply an accounting error on a statement.

Will be a fraud or theft if you try to take advantage of the situation, though.

CakeCrusader

chattychappy wrote: »

Technically? I don't think so. You've not actually appropriated any property. It is simply an accounting error on a statement.

Will be a fraud or theft if you try to take advantage of the situation, though.

Like the OP was thinking of doing.

PRAISETHESUN

They will figure it out eventually - either get in touch to let them know, or just let it happen by itself.

It would be considered theft to take the money when it clearly isn't yours so I'd be treading carefully here.

Watson

Thanks for that: as I wrote above, I did let them know. And though it took a few days, the mistake has now been corrected.

Ergates

Watson wrote: »

The immediate response from the chap I spoke to was "Well, I've never heard of that before!". This was followed by him speaking to colleagues in other departments and then saying he'd ring me back. When he did, his new comment was "You're paying the price for being honest - you could have used that extra credit limit and it might never have come to light. And even if it did, there's no way you would have been held responsible, since it was entirely our fault".

But honest I was and £2500 poorer in credit I now am.
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You did the right thing here - the operative word in his statement there was "might".