Santander pre-approved *beware*

Bangers_and_Mash

Moggles wrote: »

Unfortunately, not.

A few rather special cards will allow you to transfer an overdraft to them, (in other words, transfer cash from the credit card to your current account), at balance transfer rates. A handling fee applies (typically 3-4% of the sum shifted) but there are no other charges during the introductory promotion (usually 12-13 months). You would need:

a card issued by MBNA (e.g. MBNA itself, Sony, Virgin), Egg card or the Post Office card

That's what i meant. it is a current account with an overdraft, which I'd be looking to pay off with a BT. Are these cards above the only ones that do this?

Innocent_Guy

Bangers_and_Mash wrote: »

That's what i meant. it is a current account with an overdraft, which I'd be looking to pay off with a BT. Are these cards above the only ones that do this?

Yes this is correct

Moggles_2

Bangers_and_Mash wrote: »

That's what i meant. It is a current account with an overdraft, which I'd be looking to pay off with a BT. Are these cards above the only ones that do this?

They're the chief contenders.

To help you further, we would need to know which credit cards you have at the mo or have held recently. Also, whether you've applied for any unsuccessfully

speedbird1973

Ironically I got £5200, card within 10 days of applying, all very smooth. I actually would've been happy with £500 or so because I just wanted the card for paying for foreign things and the fee free cash withdrawals "just in case".

Bangers_and_Mash

Moggles wrote: »

They're the chief contenders.

To help you further, we would need to know which credit cards you have at the mo or have held recently. Also, whether you've applied for any unsuccessfully

My OD (current account) is with HBOS. It was previously a student account so my OD was interest free but now incurs interest payment.(which as of the new rules starting December will be £29-£31 a month). I also have a Alliance and Leicester premier direct current account (where I pay my wages into).

I have a Lloyds TSB credit card (no balance) and recently closed a HBOS credit card (which had a few late payments a few years back). The rest are all clean!

I have been offered a 'guaranteed acceptance' Santander Zero card (through my A&L account presumably). but as mentioned I can't transfer from my OD account.

I realise these things are never 100% guaranteed, but I would have thought I'd have a better chance with this rather than applying to another company?

Obviously Virgin would be ideal if I could transfer my OD direct. If i got a Virgin card I would incur the 3% BT charge, but I would gain an extra 3 months interest free

As far as I can see the only alternative would be to pay off the OD with my TSB card (cash?) then transfer the balance to the Zero account and would therefore incur interest charges for the amount of time that it took for the BT to go through, although probably cheaper than a 2.5%-3% fee.


Anyone got any ideas/suggestions?


I hope this makes sense to at least one person!

:rotfl:


ps haven't applied for anything in the last 12 months. According to my Experian trial the only searches on my file were for Experian themselves and for an insurance quote.

Bangers_and_Mash

Anyone any thoughts on this?

Moggles_2

Originally Posted by Bangers and Mash
Obviously Virgin would be ideal if I could transfer my OD direct. If i got a Virgin card I would incur the 3% BT charge, but I would gain an extra 3 months interest free

Yes, to maximise the 0% period, 16 months is currently available from Virgin on transfers made in the first 60 days.

Note: there's a 4% handling fee for money transfers (2.98% for BT fees)

Minimum monthly payments are the lowest in the UK, so you'd need to save enough per month to clear the balance by the end of the 16 month promotion.

http://uk.virginmoney.com/credit-card-v3/

IMO, it's best to request your transfer by phone (as opposed to online). You can do this when you call to activate your new card. There's a dedicated, Freefone number. Virgin allows you to borrow up to 95% of your credit limit. The money arrives in your bank account in about 6 days

develash84

Hi all,

I was just looking at my credit report and I have this entry:

Name:Address: Date of birth:Searched on:17/11/2009Time at address:01 years 01 monthsAmount:£500Searched By:SANTANDER CARDS UKApplication Type:Credit Card



Now what I am wondering is: Am I guarnteed this card, as this is the first time I have had acredit search with a specific amount mentioned in the credit search?




Any ideas or help would be great.

Pete

simplydevine05

To those querying "guaranteed acceptance" for the Santander Zero Card - yes this does happen and if you have been with Abbey/Santander/A & L then you can either be pre-approved for application or guaranteed the card, but this does not guarantee you the credit limit you desire I'm afraid, only acceptance.

develash84: to find out - ring Abbey and they will be able to tell you

Bangers and Mash: Abbey has an interest free overdraft for 12 months on a current account at the moment where your current overdraft is matched. If you are pre-approved for the credit card, it is likely you are pre-approved for the bank account too. Only stipulation is that you credit the account with £1000 per calender month or more.

izools

develash84 wrote: »

Hi all,

I was just looking at my credit report and I have this entry:

Name:Address: Date of birth:Searched on:17/11/2009Time at address:01 years 01 monthsAmount:£500Searched By:SANTANDER CARDS UKApplication Type:Credit Card



Now what I am wondering is: Am I guarnteed this card, as this is the first time I have had acredit search with a specific amount mentioned in the credit search?



Any ideas or help would be great.

Pete

No.

Santander did this when my OH applied for a TopMan store card (they service these cards) and the application had £150 mentioned on it. It was a flat refusal.

Sorry to burst your bubble (again)!