its a nonsense,as if the banks werent getting enough..........i did say to my branch,and i guess i got my message over/

We are a mine of useful information!!

Cat

No its possible for me to get the fee.I use promotional offers for convenience which run out after a period of time.6/9 months usually.Then that card basically gets shelved.What I have learnt is that for credit scoring,I am better cancelling than just leaving them.Yet another thing I have learnt here ;-)

I think it is always wise to do a review of you credit cards, charge or otherwise!

Cat

Further to my recent post, I have gone through my cards and records and have found that I had some cards that I had forgotten about. I have cancelled all but two, one I will keep for emergencies and the previously mentioned for overseas travel. Interestingly (or maybe not), the total available credit on the now cancelled cards was over £60,000! I also believe that too many cards does not score well on credit ratings.

Normally I would close the account without hesitation, However, the one card that I really value is the Nationwide Visa (and the Nationwide Flex account Debit card) as they are far better than virtually all other cards for use overseas.

Having read about this charge, I phoned the customer service line for Lloyds credit card and cancelled over the phone. They then wrote and confirmed closure. Very easy.

Yes, you would think that they were, but look at the poll!! Some people have said that they would start using their card again - which is a result for the card provider, because, don't forget, even if you pay your card off each month, they stil get a percentage of your transaction costs as a handling fee from the retailers. Talk about having everyone over a barrel!!

I think they have a nerve - they must be raking it in, and many of these providers don't exactly astound in the customer service department either!

Cat

Virgin Credit Card wrote to me this week saying that they intend to start charging me an annual fee because my account is in credit!

I intend to spend exactly the amount of credit, using my card to reduce the balance to zero, and then close the account.

These people must be crazy!

|n case anyone needs a template 'close your account' letter, one can be found here:

http://mail.moneysupermarketmail.com/go.asp?/bMON001/mOKC45/u9H6L6/xZK0TO4

You wouldn't get the fee, though, Backfoot.

It would be the people who use their cards rarely (people like me, in fact) who would get hammered. I only use mine for emergency budgeting, when there really is no other way.

It's just not fair to target the vulnerable in this way and I do believe that, statistically and in reality, it would be the people least able to afford the fee that would get landed with it.

As ever!

Cat

I use my credit card frequently for convenience,cash flow control and transaction security.If such a fee was introduced I simply would close and use another provider.I shop around for cash flow advantage and always pay up, so no bad debts.They don't make any interest out of me,but they gain from the transaction fees they collect.

Why is all this becoming a constant battle with these big banks? They are all doing very nicely, but seem to be getting everyone agitated and have ended up with the OFT sniffing round all these issues.Poor management if you ask me.

I think that these institutions make enough money out of us already.

Retailers have to pay a fee to accept credit cards and almost none of them pass that fee onto us, so I can see an argument for charging the customer unless they transact a sufficient level. But, really, where does it get them? People who feel compelled to use a card will surely be at greater risk of defaulting? And those that control their debt well are going top use it as a tool and pay off each month, aren't they?

So it seems a bit pointless to me. And it makes me seethe!

Cat

With Lloyds TSB introducing a £35 annual fee for people who don’t use their credit card frequently, we want to know if you have a card you haven’t used recently and your provider introduced a similar fee would you…