Sunday, 5 October 2008

Credit crunch? What credit crunch?

You might think getting rid of a credit card in this economic climate would be easy. That's what I thought. I've got a Mastercard and a Visa that I pay off bar a few quid every time I use them; I also had a third one that I hadn't used for two years with less than £100 owing on it that I had been really lazy about paying off as it meant either a visit to the bank or an interminable phone call to their Bombay call centre to pay by debit card. Despite rarely using it, they kept the £18,500 credit limit on it.

Anyway, more than a month ago I eventually took the half hour to call them up and cancel it. They immediately offered me a vastly reduced interest rate to keep it. I said no and paid the balance off, cut the card up and cancelled my direct debt online. End of card. You'd think.

But no. Just looked at a letter than came yesterday; they claim they miscalculated the dating of the new improved interest rate offer and that they owe me 3p. Complete with a statement showing a live account still with an £18.5k limit and a credit of £0.03.

Now what's the betting that when I call them up tomorrow that the 3p credit will be the hardest thing in the world to get rid of?

Any tips, anyone?


Lilith said...

Write to them confirming you closed the account by phone including date of call if you have this (they tape all calls) and which account you would like the 3p transferred to. Good luck.

Blue Eyes said...

This happened to me. I eventually got a cheque for £1 or something. The real banks are better, you can close an account and ask them to transfer the pennies to their favourite charity. I did that a while back with a savings account that I had as a kid.

Anonymous said...

Um, do nothing?

Why is it a problem?