Will MasterCard or Visa closes my active credit cards if I am defaulted on a Halifax Mastercard

[kdabas]

I have three Mastercards issued by three different banks.

Due to Covid 19, I was unable to pay one of my master cards issued by Halifax which was closed and is now in default.

 

I am unable to pay my debt due to severe circumstances and because Halifax customer service was very rude and too discouraging to make any effort to be up to date.

 

However, I have two other cards and they have been up to date for many years.

I continue making timely payments on both.

I spend very wisely to avoid being in default on either active credit cards.

 

I am fearing that Mastercard (the ultimate issuer of all cards) may close my remaining two cards because I have my third card in default for some 5 months now.

 

Will Mastercard or Visa in general close my remaining two cards or that decision remains with the issuing banks exclusively?

 

Will the issuing banks of the active two cards close the cards even though I am up to date with both but the third card was defaulted.

 

Thanks for sharing your insights...

[dx100uk]

no.

 

no.

 

mastercard is simply a type of credit card, they are not the creditor.

 

[kdabas]

Thanks for reply. What is the average debt level of a mastercard after which the issuer pursue the debt in a court?

[dx100uk]

the issuer or more correctly  original creditors never does court.

[unclebulgaria67]

If you are concerned about your credit record as the default will affect you being able to obtain credit and some services for a long period. Then I would suggest that you think about making a complaint to Halifax about the lack of help they provided, treating you unfairly, while you struggled financially due to the Covid-19 crisis.

 

Perhaps Halifax complaints will agree to a repayment arrangement. Might not remove the default, but at least gives you opportunity to try to pay off the debt and have the default noted as satisfied.

[PaulW922]

On 06/09/2020 at 00:23, kdabas said:

Thanks for reply. What is the average debt level of a mastercard after which the issuer pursue the debt in a court?

 

It is not the level of debt that is so important but whether or not the credit agreement has been broken

- in other words, you have not paid.

 

If you have taken a payment break under the CoVid relaxations you should not find yourself being pursued at the current time provided the break has been taken with the agreement of the card issuer (ie you did not just stop paying).