Your Credit Cards Axed ...Pay Now; FINANCIAL MAIL

The Mail on Sunday (London, England), December 24, 2000 | Go to article overview

Your Credit Cards Axed ...Pay Now; FINANCIAL MAIL


Byline: JEFF PRESTRIDGE

MARTIN Donovan is not a happy man. He is among 6,000 bank customers to be told abruptly to cut up their credit cards and pay back any balance.

The demand follows Standard Chartered's decision to quit the credit card market.

It wrote to customers late last month saying it had reviewed the operation of its Sterling Visa product and had 'reluctantly decided to cease the issue of these cards'.

Monthly interest is 2.2 per cent and the annual percentage rate (APR) 29.8 per cent.

More dramatically, the bank said that credit card accounts would be closed at the end of the year and that customers should take steps to clear any outstanding balance by then.

The letter read: 'Please destroy your card as soon as the account is closed.

Please make arrangements to clear any outstanding balance on your Sterling Visa credit card by 31 December 2000. We would also ask you to ensure that you cancel any annual or regular payments, which are made from your card.'

Martin, 45, from Upminster, Essex, says: 'I have held a Sterling Visa card for more than 15 years and I am disgusted by the bank's move. I have just [pounds sterling]600 outstanding so I will be able to settle the balance, but for others the thought of paying back a huge sum in one go must be frightening.

'I don't think I have ever been so shabbily treated by a financial services company. So much for being loyal. The timing of this debacle reminds me of just one Christmas story, and that's Scrooge.' Last week, Martin, an internet company sales manager, phoned Standard to complain. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Your Credit Cards Axed ...Pay Now; FINANCIAL MAIL
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.