RBS credit card application problems

lozsale_2

Being a keen 'rate tart' I recently applied for the RBS credit card with a view to transferring three balances from other cards that were approaching the end of their 0% life.

As suggested, I made the application on line and applied for the transfers with card numbers and amounts etc. The application was approved there and then. I printed off the credit agreement and sent it off. Having heard nothing after a few weeks I telephoned RBS to find that they had not received the signed credit agreement. RBS sent out another which I duly signed and returned. Again, having heard nothing I telephoned to find that had gone missing too. This week I received a letter from RBS to say that two of the balance transfers had been done but there was insufficient information to complete the third and would I call them when the card arrived.

The card arrived this morning so I telephoned RBS to supply the balance transfer information. I was somewhat surprised to be told that the credit limit applied to the account does not cater for all the balance transfers.

I have to say that I find the application process misleading to say the least. I feel slightly duped into accepting the credit card as had the application been referred or declined due to the amount to be transferred I could have looked elsewhere.

Has anyone else encountered a similar problem?

Loz

YorkshireBoy

lozsale wrote:

I have to say that I find the application process misleading to say the least. I feel slightly duped into accepting the credit card as had the application been referred or declined due to the amount to be transferred I could have looked elsewhere.

To be fair, this is pretty standard procedure for credit cards in my experience. Granted, some providers state it in their T&C's although I've just checked RBS and they don't.

However, if you've 3 deals coming to an end, then surely it's better to have 2 "in the bag", than to decline this card, having suffered the credit search? This search, after all, could impact on other lenders decisions and leave you high and dry when your debt comes off it's 0% introductory rate. As it is now, you need a much smaller limit from the next application in order to restore your debt back to 0%.

By the way, have you managed to avoid the BT fees they've just introduced for non-RBS current account holders?

lozsale_2

Yep, I thought that it was a long shot barking at them down the telephone! As you say I've got most of the debt at 0% and will shift the rest to another 0% dealer.

I'm not sure what you mean regarding the BT issue though. Can you elaborate?

Loz

YorkshireBoy

lozsale wrote:

I'm not sure what you mean regarding the BT issue though. Can you elaborate?

"0% interest on balance transfers for nine months from account opening. No balance transfer fee for RBS current account holders (Non current account holders 2%. Min £5, max £49)"

http://www.rbs.co.uk/Personal_Finances/Credit_Cards/Platinum_Card/default.htm