Why do Abbey want more info?

nh

My partner applied for an Abbey card, got a 5k limit and when they sent us the form to sign we sent it back with the little slip filled in asking for a balance transfer of the whole £5k to Egg.

They sent us a letter yesterday saying they 'needed more information' before they could do the BT.

We are hoping to stooze this money, we have a £0 balance at Egg. Surely Abbey can't know this and are ringing us up to query it?

What else could they want to know?

dthyer

I suspect it is because you asked for the whole credit limit. I had a similar situation with Virgin (also run by MBNA) where I asked for my entire credit limit less £100, which came to more than 98%. I've heard mention of limits of both 95% and 98% of the credit limit being available for a balance transfer. Once I spoke to them it was ok, and they did the amount I'd asked for. They might suggest you BT slightly less, e.g. £4900, or they might offer to increase your credit limit!

I hope this helps,

DT

nh

Increasing the credit limit sounds a nice idea! I'll get him to ask for that when he rings. Thanks so much - you've put my mind at ease.

Martinslovechild

There's also the possibility that they may try to sell you payment protection insurance or Sentinel Credit Card Protection, neither of which you don't want, because

i) the card's going in a drawer as soon as the BT's done
ii) the card's going in a drawer as soon as the BT's done

Woby_Tide

I got exactly the same letter on an MBNA PLatinum application. they were very apologetic and said I could only BT 95% of limit and would that be OK and sorry for inconvenience