Intelligent Finance Remove Offset Credit Card

Intelligent Finance are having to take they’re offset credit card out of circulation because the company’s system cant take on the new Chip and Pin requirements and they would be liable for any fraudulent use of the offset credit cards, in shops that are set up for the new Chip and Pin system.

This has led to Intelligent Finance having to inform thousands of they’re customers by letter that they can no longer use the offset credit card that they have in their possession and have offered them an alternative credit from the Halifax, though the main stumbling block being, that even though the two card issuers belong to the same financial group, the interest free 0% on balance transfers is applicable to any balances that are held on the old credit card.

This will lead to problems with the customers that Intelligent Finance have, as another factor that will change for the customer is the fact that, on the offset card they can reduce the amount of interest that they pay, through ant savings or investments that they have with Intelligent Finance.

This means that anyone who has enough in savings will not be paying interest on the card that they have just now, though they don’t receive any interest on the savings, but with the change to the Halifax credit card, they will be charged the full rate of interest and wont be given the option of transferring the balance that they have on the current credit card onto the new card.

The retorts to any of these types of complaints by the customer to Intelligent Finance are one of take it or leave it. If you do not wish to take up the offer of the Halifax credit card, then don’t just keep paying the account till it is paid in full and then look else where for you credit card, this is not very acceptable to people who have been loyal to this credit card company.