JaJa credit card unexplained closure of account

Lily78_2

Got the email from Jaja too today.
Similar to others i got transferred from PO cc, kept it as they offered good rate when spending aboard. I was spending every month on it, not huge sums but on average £200-£300, that i repaid in full... And last year i declined them reducing my credit limit (a lot higher than my spending, but I was buying a house and didn't want anything to change in case it would be needed later).
So glad for this forum. I rushed on here as soon as I read the email as I was wondering what was going. And though I have only read assunptions to why they may have done it, it also seem clear it is most likely they decided to ditch people who didn't pay interest, use the card infrequently or for smaller amounts paid in full each month. Frankly if that is what it is, then why not simply state it to us, I wonder... A little clarity and less BS goes a long way.
But now I am about to go abroad in April so as I have til June I'll be using it... And then look for replacement hoping I can get a good one for travel. 

Someone mentioned Munzo - I have been wondering for different reason about opening an account with them or Chase. Any opinions which is best both for travel expenses and UK use (and other perks that they may come with)?

golucky76

Hello!

I am one of the many Jaja credit card customers (who pay their cards off in full every month) and have just recieved an email saying they don't want me as a customer any more.

My question is, should I cancel my card with them or wait for two months time when they discard me?

Because I'm wondering if either of these scenarios will negatively affect my credit score?
- And if so, which one is the lesser of the two evils?

TiA! 

MorningcoffeeIV

Yes, both will - but no-one will ever see your credit score so you're good.

Your files will show a closed account, whoever closes it.

How lenders interpret that depends on the wider picture. Having your only card cancelled is very different from having one of many cancelled.

WillPS

Lily78_2 said:

Got the email from Jaja too today.
Similar to others i got transferred from PO cc, kept it as they offered good rate when spending aboard. I was spending every month on it, not huge sums but on average £200-£300, that i repaid in full... And last year i declined them reducing my credit limit (a lot higher than my spending, but I was buying a house and didn't want anything to change in case it would be needed later).
So glad for this forum. I rushed on here as soon as I read the email as I was wondering what was going. And though I have only read assunptions to why they may have done it, it also seem clear it is most likely they decided to ditch people who didn't pay interest, use the card infrequently or for smaller amounts paid in full each month. Frankly if that is what it is, then why not simply state it to us, I wonder... A little clarity and less BS goes a long way.
But now I am about to go abroad in April so as I have til June I'll be using it... And then look for replacement hoping I can get a good one for travel. 

Someone mentioned Munzo - I have been wondering for different reason about opening an account with them or Chase. Any opinions which is best both for travel expenses and UK use (and other perks that they may come with)?

Both are decent choices but Chase has 1% cashback as well as 0% FX.

Neither offer Section 75 however, and as they're a current account you'll need to fund them before spending.

gdellis

Both my wife and I within a few weeks of one another have received an email from JAJA that our cards will be closed on May and June respectively - no reasoning whatsoever and we both have the highest Experian score you can get.  I understand that Martin has said that in accordance with their terms they are allowed to do that BUT WHY.  WE always pay of our cards in full each month.  We are not a credit risk to them !!!   Seems nonsensical !!!   Can anybody explain why.  Is it because we pay no interest ??    

penners324

Looks like they're closing all accounts acquired from the post office 

*California*

I am also very unhappy with this situation.

I do not understand why they do not offer me to transfer me to the ASDA Credit Card.

At least the previous provider found an option for me to keep the credit card, although with a different provider.

To me appears like the current provider does not care about me at all.

I am upset that they have not found an option for me to keep the credit card, even if that would be a different card, like the ASDA Credit Card.

msallen

gdellis said:

Both my wife and I within a few weeks of one another have received an email from JAJA that our cards will be closed on May and June respectively - no reasoning whatsoever and we both have the highest Experian score you can get.  I understand that Martin has said that in accordance with their terms they are allowed to do that BUT WHY.  WE always pay of our cards in full each month.  We are not a credit risk to them !!!   Seems nonsensical !!!   Can anybody explain why.  Is it because we pay no interest ??    

That is pretty well covered in the 9 previous pages of this thread 

CliveOfIndia

gdellis said:

we both have the highest Experian score you can get

Which only goes to prove what is stated on the forums time and time again - your score is utterly meaningless, ignore it.

gdellis said:

Can anybody explain why.  Is it because we pay no interest ??    

The fact that you pay no interest is neither here nor there - any card issuer will still get plenty of income from the merchant fees they rake in every time you use the card.

It's a commercial decision by the card issuer, end of story.  It's nothing personal.

WillPS

CliveOfIndia said:

The fact that you pay no interest is neither here nor there - any card issuer will still get plenty of income from the merchant fees they rake in every time you use the card.

It's a commercial decision by the card issuer, end of story.  It's nothing personal.

Why are you still peddling this myth? The amount of money that any UK Visa or Mastercard issuer AND Visa or Mastercard get from a UK merchant is (no more than) 0.3% combined.