Barclaycard - Far too quick

nicky_boo

I applied for Barclaycard being encouraged by their 0% for 10 months for BT offer 6 weeks before the deadline of my previous 0% deal as Martin recommends.
I am writing this message as I have never ever seen such speedy service. I applied online on Monday NIGHT this week and I received the card on Friday. What I found unusual is I did not receive a credit agreement to sign before receiving the card itself. Has anybody else had such experience with any credit card application?
The credit limit is overly generous too. I never received such a high limit (BTW, don't worry, I am aware that they charge a BT fee over £5K).
Just wanted to share my amazement.

CTT_2

Al_Mac wrote:

I think Lloyds TSB do the same, I assume there is some rule they can now apply to those who apply online.

:beer:

I applied for my LLoyds Plat card on line about 10 days ago but had to wait two days later for credit agreement. Returned the agreement and 3 days later received card. The only thing Lloyds do is if you apply for a loan on line they can electronically scan your signature so the money can be transferred straight away. This however must only apply if you are already a Lloyds customers.

M_Thomson

nicky_boo wrote:

I applied for Barclaycard being encouraged by their 0% for 10 months for BT offer 6 weeks before the deadline of my previous 0% deal as Martin recommends.
I am writing this message as I have never ever seen such speedy service. I applied online on Monday NIGHT this week and I received the card on Friday. What I found unusual is I did not receive a credit agreement to sign before receiving the card itself. Has anybody else had such experience with any credit card application?
The credit limit is overly generous too. I never received such a high limit (BTW, don't worry, I am aware that they charge a BT fee over £5K).
Just wanted to share my amazement.

Do you have a Barclays account already? And what sort of limit did they give you?

nicky_boo

No, I do not currently have a Barclays account, but used to have a current account with them a couple of years ago. The credit limit they gave me is £8100. This may not seem very generous to some of you but I usually get £5-6K max.
My husband applied for a Lloyds credit card recently and although he has a current account with them, he still had to sign and send a credit agreement. I really do not understand what went on there for my case.

CTT_2

nicky_boo wrote:

No, I do not currently have a Barclays account, but used to have a current account with them a couple of years ago. The credit limit they gave me is £8100. This may not seem very generous to some of you but I usually get £5-6K max.
My husband applied for a Lloyds credit card recently and although he has a current account with them, he still had to sign and send a credit agreement. I really do not understand what went on there for my case.

If you have signed nothing they cannot hold you to any terms and conditions. Could be useful if you ever make a late payment.

mhendo

I just applied for Barclaycard Platinum, and the online application had the credit agreement (as you'd expect). On previous applications with banks, its been a tick box to confirm agreement with the T&C's etc. And then I'd receive paper copy of the agreement to sign & return.

On this Barclaycard application, at the bottom of the credit agreement, where you have a signature box, it had a tick box to effectively sign the agreement. I don't know if they can still enforce an agreement on a simple tick (I assumed all banks always needed a paper signature).

empfun

nicky_boo, is the name on the card yours?

nicky_boo

Yes, the name on the card is mine. I called and did the balance transfer yesterday with no problems. When I mentioned that I haven't received a credit agreement to sign, they said the letter the card is attached to is the agreement. There is nothing to sign and return there tough. You need to sign and return it if you need to cancel it. That is it. I am confused, but I didn't question it too much.

Does Barclaycard always work this way? Has anybody had a similar experience to mine?

tattooed_lady

When I applied for a barclaycard I received no credit agreement to sign either. The letter my card was attached to said 'credit agreement' . Hth.

Chris2000

There were various changes to the Consumer Credit Act last year and one of these was to allow loan agreements to be entered into electronically, without a written signature.

An electronic contract can be enforced by the bank just like any other loan agreement. The full terms & conditions would have been displayed on screen during the application process.

nicky_boo

Thanks for the clarification Chris2000 and thanks to everybody else who replied. I guess as Britain is moving to chip and pin, credit card companies do not need customer's signature to verify the transactions either.
It looks like I didn't need to allow 6 weeks before the deadline of my previous deal. I already transfered my balance although I still had 5 more weeks to go.