Bank of Scotland credit card

[douglass]

Hi all

the Bank of scotland wrote today saying they are not going to issue me with a new credit card when the current one expires very soon. they are closing the account, and wish me to keep repaying it until the balance is zero

i have never missed a payment although for the last while i was only paying just above the minimum payment which will cost years to pay off.

I was wondering if the interest will still be charged? or just a straight monthly payment

any advice info greatly appreciated

douglas

[douglass]

Hi all

BOS is cancelling my credit card when the original one expires this month.

all i got was a letter saying they have reviewed the account and wont be issuing another card and that i will have to keep the repayments up until the balance is zero.

 

I have never missed any payments and the only thing is that for as long as i can remember only piad just above the minimum payments which of course takes years to get it down.

not really bothered about it being closed, just that will interest still be charged to the account

regards

douglas

[maroondevo52]

Hi, douglass.

 

Yes I have no doubt they will continue to charge interest until you have a '0' balance, give them a phone and tell them you are having Financial difficulties and would they freeze the interest on the account, not got a clue if they will but worth a try.

[douglass]

Hi there

thats what i thought, another card M and S credit card that i have recently upped the interest rates and the accompanying letter said if you didnt wish to go on this rate you were to notify them but they would cancel the card/account.

what happens then in the instance of the BOS being cancelled and say moths later rates going up, will mine go up as well even though the account is closed?

regards

douglas

[douglass]

should also have asked, my M & S credit card recently wrote saying they were upping the interest rates and if you didnt agree then your account would be closed.

as my BOS one is about to be closed i did wonder when the rates rise again will my rates on the card rise even though the account was closed and not kept at the rate when closed.

any reply greatly appreciated

douglass

[maroondevo52]

That one I'm not sure about, hopefully someone else will put us in the picture.

[ajs444]

Wife had similar letter from BOS some 2 months ago, going to ask for statements to see if we can claim back any charges along with contractual interest.

[maroondevo52]

Two threads merged.