Irresponsible lending complaint

A little advice/insight, I made an irrresponsible lending complaint to Marble card (newday) in December 2021 relating to a credit limit increase back in 2017. I also applied for an Aqua card (also newday) in December 2021 - I'm trying to rebuild my credit as I'm due to apply for a mortgage soon. This week I recieved a letter and text from Marble stating they were still looking into my complaint. I have a balance on my Marble card and I've just cleared the Aqua card (never towards the limit for either, I have direct debits and don't miss payments). Today I logged on to my Aqua card app and saw that my account has been suspended. To cut a long story short - 35 minutes of been on the phone to Newday and speaking to a supervisor. I've established that my Aqua account has been closed because I made a complaint about Marble. A letter is on its way to me. The manager went through the response and advised they upheld the majority of my complaint, awarded me a sum for compensation but closed both of my accounts. My Marble card only appears active due to me having a balance on it. I actually don't mind not having the cards, but I only use them to increase my credit score - and its been working. I know having both of these accounts closed will have an impact on my credit score and I've really worked hard over the last 2+ years to rebuild it. Surely this isn't a common practice. Any advise please. I know I'll end up going up the financial ombudsman. WhichI'm more than prepared to do but just seeing if this is a normal? Thank you Em

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  • sourcratessourcrates Forumite
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    Yes any company can choose not to do business with you at any time, and either of you can withdraw from said contract at any time, it is all covered in the small print no one ever reads.

    You do not have a credit score, only credit history, any changes will produce a variation in the “score” good or bad, no one ever see’s this “score” but you, it’s for entertainment purposes only.
    Ex Board Guide.
    “A man who pays his bills on time is soon forgotten. - Oscar Wilde"
    “If you owe the bank $100 that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.” -JPMorgan Chase"
    "I don`t trust Bankers, I don`t trust Banks, and I don`t trust you. -Private Frazer"
    For free debt advice, contact either : Stepchange, National Debtline, CitizensAdviceBureaux.
  • 2021BJ2021BJ Forumite
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    The Ombudsman can't and won't force NewDay (back) into a business relationship with you.  They do not have the authority to do that so there is little point in involving them.
  • ThrugelmirThrugelmir Forumite
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    Trying82 said:
    I made an irrresponsible lending complaint to Marble card (newday) in December 2021 relating to a credit limit increase back in 2017. 
    To protect you the finance company have closed your account and terminated the relationship. You cannot have your cake and eat it.  They've simply responded to your complaint. 
  • 2021BJ2021BJ Forumite
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    Trying82 said:
    I made an irrresponsible lending complaint to Marble card (newday) in December 2021 relating to a credit limit increase back in 2017. 
    To protect you the finance company have closed your account and terminated the relationship. You cannot have your cake and eat it.  They've simply responded to your complaint. 
    Quite.

    Don't want them lending any more money irresponsibly after all.
  • dunstonhdunstonh Forumite
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    I've established that my Aqua account has been closed because I made a complaint about Marble. 

    That is logical.  After all, you complained that they should not have lent you the money and here you are trying to take out more credit with them.

     I know having both of these accounts closed will have an impact on my credit score 

    It wont be negative but could be positive.

    . Surely this isn't a common practice.

    its not unusual.  Especially if you are turning into a serial complainer as it appears.

    . I know I'll end up going up the financial ombudsman. 

    The FOS will not consider your complaint.  They have no remit to involve themselves in commercial decisions.

    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Ag2021Ag2021 Forumite
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    . I know I'll end up going up the financial ombudsman. 

    The FOS will not consider your complaint.  They have no remit to involve themselves in commercial decisions.

    The FOS can and will consider complaints about account closures. But they don’t comment on the decision to close the account as it’s up to the bank really. They will be limited to checking if the lender treated you fairly, for example if correct notice was given, in line with the terms and  conditions of the account. https://www.financial-ombudsman.org.uk/consumers/complaints-can-help/banking-and-payments Tells you more 
  • FarfetchFarfetch Forumite
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    This gives a good break down of who can claim for irresponsible lending if you want to know if you have a good chance...

    Spam spam spam
    Here's a better link
    https://debtcamel.co.uk/payday-loan-refunds/

    He who rejects change is the architect of decay. The only human institution which rejects progress is the cemetery.

    -Harold Wilson


  • helpyhelperhelpyhelper Forumite
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    Farfetch. Debt camel is good as well but I find there is almost information overload there sometimes. Or citizens advice is useful as well.
  • FarfetchFarfetch Forumite
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    Farfetch. Debt camel is good as well but I find there is almost information overload there sometimes. Or citizens advice is useful as well.
    You chose to link to a company that charges people for debt reclaiming rather than a charity or similar service
    Joined 6 days ago, post building with generic comments. As I said: spam

    He who rejects change is the architect of decay. The only human institution which rejects progress is the cemetery.

    -Harold Wilson


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