credit card closure

Good morning,
On inspecting my online accounts this morning I noticed that a debit posted to my credit card. I recently signed off on a loan to clear the balance and the gov tax and everything was at zero until today. I looked at my hard copy of my loan agreement and it clearly states that the funds will be paid in full and the credit card will be closed. All of this is on the first page of the loan agreement. Anyone got a view on this. Am I liable to pay? Thanks

1) I had a VISA card with an outstanding debit balance of less the 5k.
2) I applied for a loan for 2 purposes (a) clear the balance (b) use the remainder for education fees.
3) I got the loan on the condition that the loan balance would be cleared and the VISA closed. I agreed and I signed a loan agreement to that specific condition.
4) The loan came through. The account showed a 30 euro credit for a few days and that credit went to 00.00 when the gov tax was paid.
5) The balance of the loan went to my current account.
6) This morning I viewed my online accounts and saw that my closed AIB VISA account now had a debit of over 30 euro for an item called purchase finance.
7) Based on my credit agreement may I ask when is a VISA closed?
8) Am I liable for this charge?
9) If the credit agreement means what it says am I misreading it?

Purchase finance is the interest owed between the date of your last bill,and the date that you paid the bill (about €2.50 a day)

Yes. I believe that is the case. The bank would calculate that and apply it when closing accounts and distributing liability.
This is the question. The AIB bank used my loan funds to (fully) close my AIB VISA and distribute the remainder of the funds to my current account.
This obviously did not happen and I still have liability they having FULLY closed my VISA as per our loan agreement.

7) Based on my credit agreement may I ask when is a VISA closed?

The rules about closing credit card accounts are complicated and peopel often complain about being hit for charges later.


8) Am I liable for this charge?

Yes, I would think so. Calculating interest is complicated and it's not always easy to finalise an account on a particular day.

From your description of it, you have a very good relationship with AIB. They gave you a term loan to clear your credit card and for education fees.

This relationship is very valuable. Don't lose the head. But enquire about it and ask them to waive the charge.

Brendan

This is good. I will get in touch with them. First thing in the morning is probably the wrong time to look at accounts. I was anxious to see the impact of the latest cuts to salaries.
Thanks

Who do you suggest I go to, to request waiving the charge, VISA or the loan people?

Done. I rang. No problem. 'You probably have paid enough interest. Heres a refund.' Thank you very much.