# Credit Card Not Renewed



## Silver2 (17 Oct 2011)

Apologies if this has been covered already - but I had a credit card with Tesco which wasnt renewed last year -

Since then I have been paying what I can to reduce the balance but its with Tesco and the are a nightmare to deal with:

Can anyone let me know if anyone got there providers to freeze interest etc or know what customers rights are regarding un-renewed cards.

I still receive a statement every month outlining my balance - my credit limit & how much I have to spend on my card - But the reality is I dont have it to spend as I dont have a card...

Any help would be greatly appreciated.


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## elcato (18 Oct 2011)

Did you cancel the card ? Send a letter back confirming that you no longer want the card and wish to cancel. The fact that it says you have a limit of x is probably just standard procedure. You need to make sure it's closed yough so that you are no longer liable for the government duty.


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## Silver2 (18 Oct 2011)

Elcato - Many Thanks for getting back to me - Tesco replied in writing to me that the only way to close my account and therefore halting interest is by:

Tesco would close my account by means of a default notice followed by a termination notice 21 days later. The also stated the would then be obliged to register the default with the credit reference agencies.

So Elcato are you saying that I should demand the closure of my account? - I have requested this and no joy as outlined above - 

Maybe I should write them a letter now again requesting them to cancel my account.. ??


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## Yakuza (18 Oct 2011)

They're hardly likely to want to close the account when you still owe them money.  If you close the account before settling the debt, then this will go against you if you want to get another credit card or mortgage / loan in the future.  Why not try to get a personal loan for the amount owing on the card, and pay that off instead of building up the debt on the the credit card (whose interest rates are penal).  You would be saving money in the long term, as well as hassle if ever applying for credit again in the future.


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## Silver2 (18 Oct 2011)

Yakuza - Your right a loan to clear the balance would be the the ideal option - I have recently opened up a credit union account - So hopefully will try and get a small loan of them to clear the balance & close my account with them for once & all.

Its just so frustrating - That the wont give me a credit card - But Im left with high interest charges each month - If I had a card - At least I could put larger payments on it on a monthly basis - Thus reducing my interest bill every month - And I could use the card to pay for basic bills etc ...

Is it common practices for Companies not to renew cards - so annoying !!


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## Yakuza (19 Oct 2011)

Their website suggests they are quite flexible when it comes to paying them back: http://www.tesco.ie/finance/visacards/pay.html.
You can pay with online banking, at any post office, www.mybills.ie etc.

Did they specifically say they were not sending out a new card, or did the new one get mislaid?


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## becky (20 Oct 2011)

Silver2 said:


> Yakuza - Your right a loan to clear the balance would be the the ideal option - I have recently opened up a credit union account - So hopefully will try and get a small loan of them to clear the balance & close my account with them for once & all.
> 
> Its just so frustrating - That the wont give me a credit card - But Im left with high interest charges each month - If I had a card - At least I could put larger payments on it on a monthly basis - Thus reducing my interest bill every month - And I could use the card to pay for basic bills etc ...
> 
> Is it common practices for Companies not to renew cards - so annoying !!



Why would having a credit card help you put a larger payment into it. Why can't you just up your payment now.  I would have thought having the CC would add to your balance.

I'm assuming your credit card wasn't renewed because you missed payments or went over your limit.  Mine wasn't renewed one year as I went €5 over my limit while on holidays.  I did transfer the money when I came home but for some reason the balance took 5 days to transfer.  A new one was sent to me once I explained. 

You said in your first post your statement shows how much you have left to spend.  It's the wrong way to look at a credit card limit.  The limit on a credit isn't a target.  The target is having a zero balance.

If you need to pay bills online, get a visa debit.  I use my visa debit far more than the visa credit as there is no bill at the end of the month.


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