Monument Visa Card - Has anyone recently applied and received a card?

ICan'tStandIt

moneysavingallday wrote: »

It's begeinning to sound like a rather !!!!!! company

Their target market is sub-prime customers with low or bad credit ratings and although they're based in the UK, the majority of their calls go to an Indian callcentre.

An overseas callcentre is always a bad sign if you're expecting above average service.

If you're not happy, write to their customer relations department c/o the 51 Saffron Road, Leicester address on the statements.

moneysavingallday

ICan'tStandIt wrote: »

Their target market is sub-prime customers with low or bad credit ratings and although they're based in the UK, the majority of their calls go to an Indian callcentre.

An overseas callcentre is always a bad sign if you're expecting above average service.

If you're not happy, write to their customer relations department c/o the 51 Saffron Road, Leicester address on the statements.

I'm not a Monument customer (and never have been) so it seems like overkill for me to write a complaint to their customer relations department, no?

ICan'tStandIt

moneysavingallday wrote: »

I'm not a Monument customer (and never have been) so it seems like overkill for me to write a complaint to their customer relations department, no?

I was aiming my comments at those who had recently applied for a Monument card (and I assumed you had), so it seems my suggestion was appropriate, yes ?

moneysavingallday

ICan'tStandIt wrote: »

I was aiming my comments at those who had recently applied for a Monument card (and I assumed you had), so it seems my suggestion was appropriate, yes ?

No worries. I've read others' comments about the card and came to the conclusion it seems !!!!!!.

PROLIANT

Being a Monument customer I can't really say that I have had any problems with them, the call centre is based in Crawley and the only time you get put through to an Indian call centre is out of office hours.
They do limit the amount of applicants on a six monthly cycle, maybe because the amount of publicity they receive via threads like the "Sub Prime Credit Card Club" draw allot of application traffic to their web site, if you were not successful just try again in 6 months.

ICan'tStandIt

moneysavingallday wrote: »

No worries. I've read others' comments about the card and came to the conclusion it seems !!!!!!.

They don't seem that great certainly, but what credit card company is these days ?

Monument is definitely not a "big player", which might mean that their service is more personal (when you get through to their Crawley callcentre), but I would shy away from one of their cards purely because of their APR.

ICan'tStandIt

PROLIANT wrote: »

Being a Monument customer I can't really say that I have had any problems with them, the call centre is based in Crawley and the only time you get put through to an Indian call centre is out of office hours.

Which is now between the hours of 8am and 4pm Monday - Friday, so there are a lot of hours not covered by the UK callcentre.

PROLIANT

Their interest rate are variable on a rate for risk scale, my APR is currently sitting @ 26%, they do other products I have been informed but they are not advertised externally.

ICan'tStandIt

PROLIANT wrote: »

Their interest rate are variable on a rate for risk scale, my APR is currently sitting @ 26%, they do other products I have been informed but they are not advertised externally.

That's huge, some would say Monumental :eek:

Is that for purchases or for cash ? If that is for purchases, I dread to think what it is for cash.

Monument have also put their interest rates up at least twice since Barclays sold the Monument book to Compucredit.

I applaud them for offering credit-builder accounts, but even a fairly modest balance would be hard to shift with that kind of interest rate. It still doesn't seem right somehow.

Are Monument just making money out of the misery of others ?

PROLIANT

ICan'tStandIt wrote: »

That's huge, some would say Monumental :eek:

Is that for purchases or for cash ? If that is for purchases, I dread to think what it is for cash.

Monument have also put their interest rates up at least twice since Barclays sold the Monument book to Compucredit.

I applaud them for offering credit-builder accounts, but even a fairly modest balance would be hard to shift with that kind of interest rate. It still doesn't seem right somehow.

Are Monument just making money out of the misery of others ?

MBNA their typical APR is around 34% after the 0% period ends, Capital One (sub prime) 34%, Vanquis anything they want up to 75%.

Monument are the cheapest of my three Visa cards, Capital One 30% and Vanquis 34%, all the above quoted figures are for purchases.