M&S cancelled my credit card part two

jimbo26

The_Urbanite said:

As for the credit card I've never had an issue with them so presume they've been upset some way to proceed with account closure.

Yes, the OP is in persistent debt and cross because M&S is complying with the regulations around persistent debt. His argument is that as a 40 yr customer the procedures shouldn't apply to him.

born_again

The_Urbanite said:

As for the credit card I've never had an issue with them so presume they've been upset some way to proceed with account closure.

They have not closed the account from the OP. All they have done is cancelled the card to stop the OP from spending anything further as they have hit the persistent debt limit. They need to start paying far more back, and not spend on the card.
This is really the only way credit card co's can deal with these people that continue to spend beyond their means.
It is all well and good for the FCA say they have to waive interest etc. But at the end of the day, it is irresponsible to let these people continue to abuse the credit facility.

2e0arr

23999 have you sent a writ yet ? seen no response in the thread ?

jinkssick

jimbo26 said:

The_Urbanite said:

As for the credit card I've never had an issue with them so presume they've been upset some way to proceed with account closure.

Yes, the OP is in persistent debt and cross because M&S is complying with the regulations around persistent debt. His argument is that as a 40 yr customer the procedures shouldn't apply to him.

ouch.

loveandlight

23999 - please send me a pm. I know what you can do about this. I've spoken to the FCA today about it.

loveandlight

23999 said:

I still cannot get over how a company I have been with for 40 years has had the audacity to cancel my credit card when I told them I would be able to clear the amount owing I was honest about my plans and still the lady talking to me  followed her companies tick box system ... giving me zero leverage...not unhappy if this company folds with BREXIT I was not concerned about this as to me the debt was under control ..going to complain to the Ombudsman ..it won't change anything but I do,not think I can just let this pass so furious about the lack of customer care and total distrust ..I have always paid minimum payments that's in the contract frankly disgusted with M&S

Please send me a pm. I know what you can do about this. I spoke to the FCA this afternoon.

John_

loveandlight said:

23999 said:

I still cannot get over how a company I have been with for 40 years has had the audacity to cancel my credit card when I told them I would be able to clear the amount owing I was honest about my plans and still the lady talking to me  followed her companies tick box system ... giving me zero leverage...not unhappy if this company folds with BREXIT I was not concerned about this as to me the debt was under control ..going to complain to the Ombudsman ..it won't change anything but I do,not think I can just let this pass so furious about the lack of customer care and total distrust ..I have always paid minimum payments that's in the contract frankly disgusted with M&S

Please send me a pm. I know what you can do about this. I spoke to the FCA this afternoon.

Why be so mysterious, why not post your bogus advice here?

boo_star

loveandlight said:

23999 said:

I still cannot get over how a company I have been with for 40 years has had the audacity to cancel my credit card when I told them I would be able to clear the amount owing I was honest about my plans and still the lady talking to me  followed her companies tick box system ... giving me zero leverage...not unhappy if this company folds with BREXIT I was not concerned about this as to me the debt was under control ..going to complain to the Ombudsman ..it won't change anything but I do,not think I can just let this pass so furious about the lack of customer care and total distrust ..I have always paid minimum payments that's in the contract frankly disgusted with M&S

Please send me a pm. I know what you can do about this. I spoke to the FCA this afternoon.

Who told you that they don't deal with individual complaints and to go to the FOS if you've exhausted your credit providers complaint process, right?

yksi

So basically you couldn't control your use of credit, over a long period of time, then M&S followed the law and stepped in to do the adulting for you, and you're unhappy about the fact you'll no longer amass more expsensive debt and you don't want no stinkin' less-expensive loan? Yeah good luck with the ombudsman, I'm sure they will be very sympathetic to your lack of financial acumen.