Creation Financial Services bashing

[moss79]

Just had a settlement offer From Ihg/ombudsman

[Jamjaw]

Just had the below email:

Your complaint about Creation Financial Services Limited

Thank you for your patience while we’ve been progressing your complaint. As you’re aware we’ve been having regular discussions with Creation Financial Services Limited (Creation) to ensure an outcome that is fair and reasonable in the circumstances.

Throughout these conversations, Creation have provided additional information and it’s been important to take this into account for the individual circumstances of each case. As a result of our conversations with Creation, we’re pleased to let you know that Creation have made an offer to resolve your complaint.

The offer Creation have made will depend on the type of account you held with them. I’ve explained more details below.

Background

The closure of credit card accounts with Creation affected two of their credit card products which provided associated benefits.

IHG Rewards Club Premium Credit Card – customers were able to earn IHG Rewards Club points, and Anniversary Night Vouchers for an annual account fee
IHG Rewards Club Credit Card – customers were able to earn IHG Rewards Club points

Offer from Creation

For any customers who held an IHG Rewards Club Premium Credit Card, Creation have offered to

refund the unused proportion of the account fee on a pro-rata basis,
transfer the outstanding IHG Rewards Club points to their IHG account, and
grant Anniversary Night Vouchers for eligible customers.

For any customer who held an IHG Rewards Club Credit Card, Creation have offered to

transfer the outstanding IHG Rewards Club points to their IHG account.

I would be grateful if you could let us know whether you accept the offer from Creation in full and final settlement of your complaint by 31 March 2023.

If we don’t hear from you by then, we will assume your acceptance of this offer, ask Creation to action the settlement and close your complaint.

Next steps
If you would like to accept Creation Financial Services Limited’s offer, please let me know by 31 March 2023 and I’ll arrange for Creation Financial Services Limited to get in touch with you.

If you are not happy with the offer, please let me know why by 31 March 2023 and we’ll continue to investigate.

Kind regards

[rams]

I received the same. No comp for them taking so long to resolve then

[ed_fly]

No skin in the game as such. be interesting to hear whether all closed card holders are offered this, or if it’s limited those who 1) didn’t use curve, or 2) didn’t ‘abuse’ curve usage for MS purposes.

[Aston100]

No meaningful consequences for Creation for being a bunch of counts about the whole thing?

[Crafty]

Had the same email. Nothing in there that pertains to my individual case, so anything I put in writing will explicitly state what I expect to receive, rather than leaving it up to their interpretation of this general wording.

I’m minded to request cash compensation for the delay – perhaps £100 – in addition. Will others be doing the same?

[Geoggy]

Just had the same offer and replied to accept.

Life is too busy and short not me to give any more emotional energy to this.

[Flying Moonwards]

No offer received at my end, so this clearly hasn’t gone to everyone!

[Colin MacKinnon]

My response re free night:

grant Anniversary Night Vouchers for eligible customers.
I would like clarity on “eligible customers” please. I had spent, following my usual spending pattern, the £10,000 required between the start of the card year, in September, and the closure date in December.
I would wish to have it confirmed that I am “eligible” in your and Creation’s view before I accept the offer in full and final settlement.

[jj]

Nothing received here. Either the emails are going out in batches, or I’m on the naughty step and sit outside the offer.

In case a pattern emerges, I used Curve with my card, and, while I never engaged in anything that could be called cash recycling, I did use Curve/Creation to invest with NS&I.

[JerrySignfield]

Well, I am willing to accept this as long as I get the free night voucher (having spent the £10k) with a decent expiry date ie beyond this year as it takes time to organise effective use of it!

[Jamjaw]

This is exactly what I asked for, so I don’t see that (despite it taking 15 months) I should be getting any compensation really – so minded to accept once they confirm that I am eligible for my night voucher and also how many points I will get.

[Crafty]

True. And the delay could actually be seen as helpful by some people, depending on when is a good/less good time to receive the free night voucher. It’ll need to have a 12-month duration on it, though.

[Don]

They are distinguishing between cards so I’m not accepting it. I requested:

refund the unused proportion of the account fee on a pro-rata basis,
transfer the outstanding IHG Rewards Club points to their IHG account, and
grant Anniversary Night Vouchers for eligible customers.

They are only offering the IHG points on my card.

[JerrySignfield]

Don wrote:

They are distinguishing between cards so I’m not accepting it. I requested:

refund the unused proportion of the account fee on a pro-rata basis,
transfer the outstanding IHG Rewards Club points to their IHG account, and
grant Anniversary Night Vouchers for eligible customers.

They are only offering the IHG points on my card.

yes of course they are distinguishing between cards, did you mean between customers? What card did you have?

[Scallder]

Just got the offer in relation to my wife’s complaint, not yet received one for my own complaint though.

[Grant]

I’m not familiar with the benefits of the free card, but for those who had the card with the annual fee Creation seem to be offering exactly what we missed out on by them closing accounts prior to card year end, assuming you had already met the spending requirement for the free voucher prior to them closing the account.

[Don]

Sorry, you’re quite right JerryS. I had the Premium card. So I’ll take this. Thanks for the prod. It’s just not called “Premium” on the actual card. It’s the GBP 99 fee card.

[stevenhp1987]

Not had the email yet but the phrase “grant Anniversary Night Vouchers for eligible customers.” could mean many things.

If you spent £10k in the year and had your account terminated before your renewal date are you eligible (under normal circumstances you must still be a cardholder at renewal to receive the voucher)? Or are those whose termination crossed their renewal date and spent £10k the only ones eligible?

It’s worded in such a way that I wouldn’t be surprised if Creation try and wriggle out of giving all those who spent £10k a voucher.

If/when I get this email you can be sure I will be clarifying that point before accepting anything!

[tim.uk]

I have just responded with an acceptance conditional on them agreeing that I am an “eligible customer”. (I had spent the £10k.)

[IanG]

Same settlement offer received as above. Zero suggestion of any compensation for time wasted which seems a bit forgiving of FOS given that in offering to settle (for exactly what I always said I would accept) after so many rounds of refusing, is surely inappropriate. My impression from the FOS site is that this kind of egregious behaviour ought to come not only with the offer of putting things right, but a monetary sum attached. https://www.financial-ombudsman.org.uk/consumers/expect/compensation-for-distress-or-inconvenience

What do others think?

[Don]

Likewise Tim. Thanks all for the sensible input.

[Don]

Time for me to take what’s on offer IanG. Provided that I’m an “eligible” customer. I don’t expect compensation in addition.

[DonLee]

For a data point, I didn’t receive the email. Used curve a lot but only fund NS&I once with a small amount.

[ed_fly]

Would love to see the breakdown on whether creation have saved or lost money by taking this approach. The costs of dealing with the FOS on this many claims, only to offer what people weee asking for must be a significant sum. Yet, I’m sure some people who had accounts closed may’ve just written it off the annual fee etc.