Abbey Credit Card

lynseydee

I know Martin has this has one of the best offers but just to let others know the conversation I have just had with one of the staff at Abbey.

I originally applied online for the card a couple of weeks ago and as I had not heard anything decided to phone up and chase. After looking into it they couldn't find any record of me ever having applied so said they could do a phone application and give me an answer there and then. I told her the reason I was applying was for a balance transfer and she thought there may have been another credit card that may be suitable for me. When she phoned me back she went through everything about the card (which turned out to be the one I was applying for anyway) and one of the things she mentioned was that if the card held a zero balance or was dormant for more than six months (i.e. no spending as you're taking advantage of the 0%) they would charge a fee (I think she said £10.00 a month). So although they are offering 0% for 15 months, unless you can clear the card in six months you will be charged for the remainder of the term. She also mentioned the Organic card which she said was exactly the same.

Just thought I would make people aware just in case they were planning on applying.

Did check to see if this had been mentioned before but couldn't find anything so apologise if it has already been posted.

thriftymomma

That's useful to know. Thank you for sharing.

simon_templar_2

The dormancy fee is a one off fee. Abbey now only doing the Zero card.

lynseydee

Just gone through an application with Abbey and before I went ahead I got her to clarify the position with regard to the dormancy fee and she told me that if the card is dormant after six months they will charge the dormancy fee and then also for every month that the card is left dormant, so regardless of making a payment each month if you arn't spending on the card it will be considered dormant and you will be charged the fee.

Also the card I was applying for was the 15 months 0% one.

lyndagh

As a pensioner I was going to apply to switch to Abbey C/C but on the application form there is a minimum income level of £7,500 which cuts me out!!!!
I`m new to the forum, so please excuse me if this has already been discussed.

simon_templar_2

With regard to the dormancy fee why not buy something for a small amount then pay it off when the bill comes. There is eligibilty criteria for the card and income above £7500 is just one of them.

td_007

lynseydee wrote: »

Just gone through an application with Abbey and before I went ahead I got her to clarify the position with regard to the dormancy fee and she told me that if the card is dormant after six months they will charge the dormancy fee and then also for every month that the card is left dormant, so regardless of making a payment each month if you arn't spending on the card it will be considered dormant and you will be charged the fee.

Also the card I was applying for was the 15 months 0% one.

This not correct and you have been misinformed. the t&c states:
See T&C 2.6 (a) "We may close your account or cancel or suspend your right to use your account if it has been dormant meaning there have been no transactions or a zero balance for a period of 6 months. Before.....Due to the cost of servicing an account, we may at our discretion charge a dormancy fee of £10 if your account has been dormant."

This means if you are carrying a balance on your card and are making minimum payments then there are transactions being performed and hence your card is "active". It is only if your card has £0 balance for a continuous period of 6 months will the dormancy fees comes into play.

td_007

lynseydee wrote: »

When she phoned me back she went through everything about the card (which turned out to be the one I was applying for anyway) and one of the things she mentioned was that if the card held a zero balance or was dormant for more than six months (i.e. no spending as you're taking advantage of the 0%) they would charge a fee (I think she said £10.00 a month). So although they are offering 0% for 15 months, unless you can clear the card in six months you will be charged for the remainder of the term. She also mentioned the Organic card which she said was exactly the same.

Just thought I would make people aware just in case they were planning on applying.

Did check to see if this had been mentioned before but couldn't find anything so apologise if it has already been posted.

You were given the right information, but you made the wrong interpretation - transactions does not mean spending alone. Any movement in/out of your card is a transaction. See my post above for t&c re dormancy fees.

lynseydee

Thanks for clearing that up for me td_007. Unfortunately I was declined the card anyway so I don't need to worry about it now.