Anyone else had their Creation credit card cancelled without explanation?

UnclePennybags

… just to add that today I was told by Customer Services that they are exiting personal credit cards in favour of the retail market … whatever that means. I haven’t done anything wrong, but my credit account is closing on 31 Jan - as are those of thousands of others. Nothing I or they can do apparently to affect this. Incidentally, they sent an email yesterday saying 'further to when we wrote to you in November, this is to confirm that your account will close …’ (sic) … I’m pretty sure that if I had received any such notification I’d have been certain to challenge it immediately!

UnclePennybags

UnclePennybags said:

… just to add that today I was told by Customer Services that they are exiting personal credit cards in favour of the retail market … whatever that means. I haven’t done anything wrong, but my credit account is closing on 31 Jan - as are those of thousands of others. Nothing I or they can do apparently to affect this. Incidentally, they sent an email yesterday saying 'further to when we wrote to you in November, this is to confirm that your account will close …’ (sic) … I’m pretty sure that if I had received any such notification I’d have been certain to challenge it immediately!

Rather less diplomatic, this one tells the real story - 
"Thank you for your email.
We appreciate that you have been a valued Credit Card customer with Creation for many years.  A business decision has been made to close a number of Credit Card accounts on 31 January 2025.  This is no reflection on how you have managed your account. You will be able to use your Card up until 31 January 2025, please continue to make your monthly payment until the balance is cleared. There is no obligation for the balance to be cleared by 31 January 2025.
In your credit agreement with Creation, clause 14 gives Creation the right to close your account.”

Note the wording: "a number of Credit Card accounts on 31 January 2025” … why can’t they be up-front and just say, “We don’t like customers we can’t profit from because they've got into debt”?

Largs

What was the attraction of this card to people?  If I pay off my balance in full, I want one that gives me something back - points or money, with this the only attraction to me was spreading the cost over 3 months for free.

GingerLemon

I had an email last night saying further to their email in November my card was closing on Saturday 1 Feb. (It’s 30th Jan!) I hadn’t had anything on this at all so called them. Was advised they are exiting the credit card market totally so everyone’s accounts are closing. Not sure on the impact to my credit score with this happening and the change to my credit utilisation. Always paid the balance every month so it was disappointing to hear but nothing else to say. 

CliveOfIndia

GingerLemon said:

Not sure on the impact to my credit score with this happening and the change to my credit utilisation. Always paid the balance every month so it was disappointing to hear but nothing else to say. 

The fake score you see on your CRA report will in all likelihood fall, as it does in response to any change in your credit circumstances - whether good, bad or indifferent.  But there's no need to be in the slightest bit concerned by this, since the score is not used by any lender when assessing your credit-worthiness - in fact, they can't even see it.

Your utilisation percentage will obviously change.  But again, the only people who care about this are the CRAs themselves (remember, they often earn a commission if you take out a new card through them, so it's in their interest to suggest you should have more cards).  So long as you're paying your cards in full at the end of every month (aside from any that may be on a 0% promotional rate), a lender doesn't care how much of your available credit you're using.

Guesthouse

Yeah, I got notified end of November. I presumed that it was lack of use - I got it for foreign holiday use, and that has fallen over since 2018, as well as backup to my AMEX. I'd say, that I probably used it once in 2024 for an online purchase that wouldn't take AMEX

gt94sss2

Largs said:

What was the attraction of this card to people?  If I pay off my balance in full, I want one that gives me something back - points or money, with this the only attraction to me was spreading the cost over 3 months for free.

Creation offered various cards - not just one.

Some offered points, some cashback or no f/X fees, and others offered nothing at all.

As it is, I'm sure that they haven't cancelled or given notice to all their credit card holders..

jameswyper

Got an email from Creation today asking for my feedback. It begins like this (emphasis mine)

You recently cancelled your Everyday Card. We’d love to hear your feedback on your experience with us. This survey will take approximately 3 minutes to complete. Thank you in advance!


What an absolute clown show.

I got a Barclaycard Rewards card shortly after Creation first notified me of their intent to close. So far their onboarding and general service has been faultless.

Embraer190

I got the exact same email. What a joke!! If they inform the credit reference agency that I chose to close my account, will this have a greater impact on my credit file? 

jameswyper

I don't know but on the basis of that email I'm probably going to make a Subject Access Request. I hope it's expensive and inconvenient for them to fulfill (sadly I suspect it won't be). Of course the data may be correct and merely their CRM system logic that's wrong but there's only one way concerned ex-customers like me can be sure..