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Co-Op Travel Credit Card
lynn_o'd
Posts: 6 Forumite
in Credit cards
I have just applied for a Co-op travel credit card from the list of cards with no balance transfer fees. When I rang to check something they informed me there is a 2% charge for all balance tfrs. Have I just wasted an application?
I need a new card as previous 0% card coming to an end but dont want multiple applications against my credit rating and obviously dont want to pay transfer fees.
Can anyone advise?
Cheers
I need a new card as previous 0% card coming to an end but dont want multiple applications against my credit rating and obviously dont want to pay transfer fees.
Can anyone advise?
Cheers
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Comments
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Credit searches recorded on your credit files stay there only for 6 months. AFAIK in 3-4 months they almost don't affect new applications. At the moment you have nothing to lose. Apply for 1-2 other cards and if accepted, ditch Co-op. If not, pay BT fee and wait 3-4 months before applying again.
EDIT: I think I was wrong about 6 months and if fact searches stay for 12 months ...0 -
Co-op introduced the charges yesterday I am afraid so your timing is really bad luck. When did you apply ? Was it before Monday ? If it was and you signed Ts & Cs then you might be OK. If you applied this week, then you will get the new Ts & Cs. I believe that the BT Fee is capped at about £50 so may still be worth doing, depending on how much you want to transfer.
ClarimanAuthor of the first Stoozing FAQ on the Internet and Creator of the SOA & Snowball calculators at Lemonfool.co.uk0 -
Applied on website on sun 15th and got application yesterday. Just my luck.
Only about £6000 to tfr so not worth paying fee, have to try another card.
Thanks for advise.0 -
Hi Lynn. Slow down, slow down. Co-op only changed their Ts & Cs on Monday 16th January. They have also stated that they will honour any applications from before that date. Check the paperwork that you received yesterday to see if it mentions a BT fee or not. If it makes no mention of BT fee, then sign it and send it back. You may just have got it in time.lynn_o'd wrote:Applied on website on sun 15th and got application yesterday. Just my luck.
Only about £6000 to tfr so not worth paying fee, have to try another card.
Thanks for advise.
ClarimanAuthor of the first Stoozing FAQ on the Internet and Creator of the SOA & Snowball calculators at Lemonfool.co.uk0 -
Clariman wrote:Hi Lynn. Slow down, slow down. Co-op only changed their Ts & Cs on Monday 16th January. They have also stated that they will honour any applications from before that date. Check the paperwork that you received yesterday to see if it mentions a BT fee or not. If it makes no mention of BT fee, then sign it and send it back. You may just have got it in time.
Clariman
Cheers thanks for this advise. Have just rung Co-Op again and they have confirmed I will not be charged for BT's as made application before chg introduced on 16.1.06.0 -
The Co-op deal is no worse nor no better than most others now they have a fee. At least it is 7 months 0% (a bit more as you have to the statement date after the end of the 7 months) plus it is not a bad card to hang onto afterwards as there is 1% "travel points" which I have myself used (on my third Travel Card at the moment!!) & saved about £250 off holidays booked via Co-op Travelcare.Ethical moneysaver0
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Is there a catalogue to see what the travel points are good for?I know nothing0
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http://www.coopbank.co.uk/servlet/Satellite?cid=1078141742771&pagename=CoopBank%2FPage%2FtplPageStandard&c=Pageempfun wrote:Is there a catalogue to see what the travel points are good for?0 -
I applied for Co-op card. Got accepted but for very small limit. After calls and sending in evidence of bank account balance (my offset account that had cash balance from other providers
my credit limit was increased to £14,000 :j . BT then made over the phone for full credit limit with no hassles.
The deal was for 6 months only but was 0% with no BT fee. In addition to that they donate £15 to Save the Children now and another donation at the end of 6 months plus a proportion of any future spend.
So if you are going with Co-op worth anyway its worth considering the affinity cards where charity may also benefit (providing the deal is as good if not better for you).
Just as well I got in there on time to avoid a £50 fee.
Since light travels faster than sound, some people appear bright until you hear them speak.
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