THE EASY WAY: All the Forum's best tips go in MoneySavingExpert's weekly E-mail Plus you'll get all the new guides, deals and loopholes. It's free & spam free
IMPORTANT! This forum isn't moderated. If you spot a spam, illegal, offensive, racist, libellous post or PM please email abuse@moneysavingexpert.com
Remember, this is an open forum! Anyone can post so always exercise caution when acting on info. Don't post links for personal gain. Except in the referrers section and always declare any interest.
Can you spot whats wrong with it.
(and to start you off, have a think about why it's a 'macs' card)
And PS to the regular Credit Card Nerds from the forum - don't do all the issues in one go - let the newbies have a go. !If you're an experienced tart or stoozer, why not just say how many issues you spotted.
Martin
The Following User Says Thank You to MSE Martin For This Useful Post:Show me >>
Saw the program, I did second guess most of the issues with the card, before you even mentioned them -
but will hold my hands up to not getting the "name" until it was later explained.
Well it goes to show the value of Summary Boxes as most of the sins are nicely laid out there. For example try as I might I can't see how anyone can qualify for the 0% balance transfer.
Of course those signing up should have also questioned the value of a MACS point and read the very small print saying it is not a real credit card! That should have been a bit of a giveaway.
Is the "sign here for an application form" a way of dodging the cooling off period? EDIT: No it's because the application form will have different T&C as warned at the top. My, you have to read this small print carefully don't you.
I was thinking the second canceled out the first, but yes it just means the period between the transfer and the statement/payment date. So I think you are right. It includes purchases though, as per LLoyds Advance.
I also notice there is no charge specified for the texting of the photo. Could be £10 or anything at all.
Another one is that the annual spend of £1000 must in effect be spent in the second six months. That's £170 a month, so with no interest-free period, you're looking at 20% or so for 2 months each time - i.e. about £6 a month.
Add on the minimum payment and it's clear that you will never pay £5. The minimum is going to be at least £11.
Is the value of the points scheme spelt out anywhere?
How do you get your photo on the card? Simple, after you've got the card, just send us a multi-media text message from your phone of the chosen photo and that's what you'll get.
So, um, they're going to send me the card, then I'm going to send them the MMS with my photo, and it will miraculously appear on the card? Cool trick :
Oops Emdee - that's me - on the real leaflet there was a piccie explanation of the photo process i devised. So when i put it on the site i just noted something down quickly - i shall go and amend :
I feel the program failed to get over the problems with this card. On the face of it, 13.9% APR, 6 months interest free BT's, no annual fee etc., aren't bad. Nothing special, but certainly not in the rip-off area.
It's only really when you get to the small print that the problems all become clear, and that's something that didn't come across too well in the show.
The card personalisation would sell well, however, but I personally wouldn't pay any extra for it.
Mind you, I did laugh out loud when the girl explained that 'you get 12 MACS points for each £1, where as other card companies only give you 1 piont'. Brilliant.
Would I get a higher limit if I applied for their Big MAC ? !;D
6 months 0% introductory, whats bad about that ?
Does not matter what it says elsewhere as you are in the introductory period and thus would have 6 months interest free from account opening. Any messing about and its off to the ombundsman !or Directory General of the BBC
The £5 minimum payment is great for stoozing
You deal with the £30 fee by putting the account into credit by £1k AFTER you 6 months at 0%, and then spendign the £1k over the following couple of months - net cost in lost interest being about £10-16 so you save £14-£20 on the annual cost.
Lots of high charges for cash abroad etc and I went around in circles for ages trying to decide if BTs were free or not (with 50 or so other 0% cards to choose why bother worrying - don't bother with this one).
I also would not go for any card with an annual fee potential, also not worth the worry.
My main concern was the passing mention of card protection - no mention of what that cost is and no way of opting out, so you can bet it will be sky high and an industry 'best'.
Oops Emdee - that's me - on the real leaflet there was a piccie explanation of the photo process i devised. !So when i put it on the site i just noted something down quickly - i shall go and amend !:
Tsk, what are you like.
Off to fill in the application now you've cleared that up - I expect a decent credit limit :
although, to be fair, i did sign up for a cashback mobile phone deal with a company called "SCANCOM", which is only one letter swap away from being both a SCAM and a CON...
Pls be nice to all MoneySavers. There's no such thing as a stupid question, and even if you disagree courtesy helps. Take care over copyright. Use excerpts and links rather than copying long text. This site asserts copyright on all comments posted on the board.
Pls be nice to all MoneySavers. There's no such thing as a stupid question, and even if you disagree courtesy helps.
(Don't) Get the Macs
:
Linear Mode
