Tricked into removal of credit via AP

edited 15 March 2020 at 11:48AM in Stoozing: free cash from credit cards
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Matt1892Matt1892 Forumite
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Hi. 
I’d be happy if somebody could point me how to move forward with the below. 

I contacted HSBC at the beginning of February and explained I was struggling to reduce the balance of the credit card due to the amount of interest being charged on the card.  

Balance: £6,300
Interest; £110 pm
MP: £170 pm 

The lady discussed on the phone if my finances are tight with they are I went through an expenses and expenditure which she said they could free the interest and I could re-pay £120 a month but would face demand to pay letters as I wouldn’t be making the minimum (odd?). She explained this would be for a 6 month period and the card would be inactive in this time. She seemed like a new member of staff as I could hear somebody explaining in the background. 

After coming off the phone I was happy with agreement as I could reduce the capital by £160 a month putting myself in a better position in 6 months time (balance transfer etc). 

However on Friday I contacted HSBC to explain I needed use of the card this month because I made a payment to wrong the CC via faster payment on my online banking (2 VISA CC on my PAYES) I was 99% sure they would say no which they did but my shock they explained they not just for the 6 months I wouldn’t have access to the card but for the whole duration going forward I would never have access to the balance on my card ever again! They were very quick to offer me £100 compensation which I said can I speak to manager. The manager explained this is the process and it is now I owe them 6000 technically a loan which after 6 months I’m going to be getting charged 21.%! 

The manager said he would send me a cheque of £100 out in the post and close the case as they’re is anything to answer however there is a lot to answer Ive been complety  misinformed. He said he would raise the complaint aswel as sending good will gesture to which my disgust I received a letter of them yesterday saying the case is closed and refer to finical ombudsmen if I am not happy. 

We’re do I go now? Can anybody help :(

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