Pensioners' Credit Cards cancelled!

So it appears that this isn't age related but because of how you use your credit card seadragon.

I have had a credit card since they were first issued and I have always paid the balance off each month and continue to do so.

I checked the stats and nearly two thirds (62%) of all card holders clear the balance on their credit card each month www.money.co.uk/credit-cards/credit-card-statistics
so that is no reason to withdraw a credit card.

Anyway, surely you have a debit card issued to be used with your bank account seadragon. If you are paying off the balance on your credi card each month, you could just charge everything to your debit card instead.

It's true. He was extremely indignant and ranted about it 😂. It was a few years ago now though, so possibly things changed

Grandmabatty

My friend who was married to a millionaire and who was very comfortably off himself, applied for a loan from Barclays and was refused because he was retired.

I find this amazing, they put a little note on my account telling me how much they will lend me. Not that I want it.

Do the cards get used regularly? I think I have heard infrequent use can lead to cancellation.

Boz

Allira

Boz

I've just run this past my OH (ex-banker) who tells me that you need to keep using your c.c. to make it worthwhile being provided. It sounds as if you are not spending enough money on this card and nothing comes from nothing, these days, I am afraid.

I use mine for most purchases, but not food.

I can't help feeling it helps to put your food on a card as it is a major expenditure these days. Most of my food is bought online using delivery or click and collect.

It may seem daft but I like to pay for it before I eat it!

Allira

Boz

I've just run this past my OH (ex-banker) who tells me that you need to keep using your c.c. to make it worthwhile being provided. It sounds as if you are not spending enough money on this card and nothing comes from nothing, these days, I am afraid.

I use mine for most purchases, but not food.

I can't help feeling it helps to put your food on a card as it is a major expenditure these days. Most of my food is bought online using delivery or click and collect.

Boz

I've just run this past my OH (ex-banker) who tells me that you need to keep using your c.c. to make it worthwhile being provided. It sounds as if you are not spending enough money on this card and nothing comes from nothing, these days, I am afraid.

I use mine for most purchases, but not food.

Searching on line for others affected by this, we find that, apparently, we are 'DEADBEATS' - people who pay off our accounts every month....ie not very profitable.

I asked for a temporary increase on mine for a one-off purchase but was refused - I was astonished.
The reason given when I phoned to ask why was that I pay it off each month, apparently.

Yes dh had Barclays credit card (not our main bank) and they refused to reissue him a credit card through little use. He pays off every month but only has credit of £3000 whereas before it was a ridiculous amount.

Why do you think this is related to your age OP? Mine was cancelled last year because that product was no longer available. I simply applied for one from my usual bank.

Also, everything these days is AI. In the old days, a bank manager would look at a customer and give a nod of approval if necessary. Banking is almost untouched by human hand now. Shame.

This doesn't just affect pensioners, 'deadbeat' applies to anyone who pays off their CC in full. Although pensioners probably more frequently do that.

However, CC companies still make money - processing charges.

They (banks) could of course charge an annual fee for those of us who pay off in full and thus don't give them the option of charging interest incurred by not doing so.

That's how Capitalism works though, isn't it? There's no such thing as a free-lunch. And they make money from those who are unfortunately unable to pay in full.

And, we are at their mercy, they can close any of your accounts, at any time, and don't have to give a reason.

We should have the option of a National bank - run at cost. Because everyone these days needs a bank account, especially as money transactions are gradually becoming a thing of the past.

Yes, it is a scandal.

I would just swap to another provider. CC companies are usually falling over themselves to offer their services so long as you use them responsibly and have a good credit record. I get emails every single day offering me cards, loans, etc. They are really useful if you have a dispute with a retailer or service provider and need to do a chargeback.

I've just run this past my OH (ex-banker) who tells me that you need to keep using your c.c. to make it worthwhile being provided. It sounds as if you are not spending enough money on this card and nothing comes from nothing, these days, I am afraid.

My friend who was married to a millionaire and who was very comfortably off himself, applied for a loan from Barclays and was refused because he was retired.

I’ve not heard of this and googled it no no avail, how odd.

I’d also be interested to know which one. Forewarned and all that.

Do you mind me asking which company this is seadragon ?

As far as I know the card provider is entitled to do this as long as they give notice which they have done.
You could use your debit card to make online purchases.
Or have you tried applying for a credit card from other providers?

I can only offer this as a suggestion. Contact an attorney/solicitor (I'm in the US, they're all attorneys here) who specializes in elder care law and have a consult. Any communication you have with the credit card firm should be in writing/email. We'd be considered deadbeat as well.

.... At the very least having no credit card will make it difficult buying some of our planned Christmas presents for family
who live in South Devon !….