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M&S cancelled my credit card part two

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  • jimbo26
    jimbo26 Posts: 954 Forumite
    Part of the Furniture 500 Posts Name Dropper
    edited 12 February 2020 at 1:42PM
    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
    born_again Posts: 20,377 Forumite
    10,000 Posts Fifth Anniversary Name Dropper

    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.
    Life in the slow lane
  • 2e0arr
    2e0arr Posts: 1,007 Forumite
    Part of the Furniture 500 Posts Name Dropper
    23999 have you sent a writ yet ? seen no response in the thread ?
  • jinkssick
    jinkssick Posts: 1,323 Forumite
    Part of the Furniture 1,000 Posts
    jimbo26 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.
    Save saynoto0870.com in your favorites, and stop giving companies more £££ dialling 0870 numbers when you can dial freephones or cheaper alternatives
    call your credit card company, tell them that you want to leave, 99% of the time theyll lower your APR%
    Remember when that Bank Manager or Salesperson smiles at you, all he sees is £ notes. Dont forget the motto, "the wider their grin, the more debt your in"
  • 23999 - please send me a pm. I know what you can do about this. I've spoken to the FCA today about it.
  • 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.
  • boo_star
    boo_star Posts: 3,202 Forumite
    Part of the Furniture 1,000 Posts
    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
    yksi Posts: 1,025 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper
    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.
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