Credit card over payment

bvlawrie

Hi

I have not been managing a credit card particularly well. 15 months ago I closed a credit card account but forgot to cancel standing order. logged into the account for the first time since today and realised I had a large amount of credit following 15 months of payment. Rang the bank and they have transferred money straight into current account (well by Tuesday).

Am I entiteld to a refund or interset as they failed to alert me to the fact I was paying into a closed account?

Cheers BV

[Deleted User]

No. Credit card don't pay interest on a positive balance.

Robin9

So not only do you not keep control of your credit card account you don't read your bank statements either !

chattychappy

Reminds me of a friend who got into trouble with CCs. He had plenty of money but was just lazy - forgetting to make payments, taking cash advances because he couldn't be bothered to find his debit card etc. Eventually MBNA blocked the card and agreed a repayment plan. He set up a standing order and forgot about it.

A few years later, his girlfriend looked into matters and found he was several thousand pounds in credit. They had sent the odd letter to an old address it seems.

He phoned up and asked if they could send him a new card. He was happy to take a low limit. The idea is he would then spend down the credit balance. Answer came back "NO". He was a bad risk. All they could do was send him a cheque for the massive overpayment.

He reckoned he must have been the best customer they ever had. Huge amounts of interest and late payment fees. A free loan over a few years. And still they didn't want his "business" !