Sygma Bank Credit Cards

sparklydog

Sutton then phoned them up again,they said you should of received your card by now,so i said so have i been accepted they said yes you have sir,i then replied what is my credit limit and apr please,he then replied 24.9% £750 limit,i then replied you have just wasted your time sending that card out mate,he said why,i replied that is going straight in the bin when it arrive on my door step,can i cancel that right away please,so got my hopes up for a nice limit what did i get stupid limit & apr..

BugsyBrowne

sparklydog wrote: »

Sutton then phoned them up again,they said you should of received your card by now,so i said so have i been accepted they said yes you have sir,i then replied what is my credit limit and apr please,he then replied 24.9% £750 limit,i then replied you have just wasted your time sending that card out mate,he said why,i replied that is going straight in the bin when it arrive on my door step,can i cancel that right away please,so got my hopes up for a nice limit what did i get stupid limit & apr..

They've only based that low limit and shoddy ApR because of your not so brilliant credit rating.

callum9999

ICan'tStandIt wrote: »

Is "Sygma Bank" actually a bank ?

I know that they don't have branches exactly, but do they have deposit accounts etc ? Do they have a banking licence ?

I'd never heard of them until I got a Flybe credit card.

My general impression of them so far is...

They gave me a credit limit that was higher than I needed (£4000 straight away) and the application took about a minute to complete after I hit the "submit" button. Nothing in any way "human" checked my application.

They keep sending me junk mail trying to get me to use the cash facility (at 22.9% APR I think I would have to be in prison in another country to make me mad enough to use it!)

The above two points make me view them as risky lenders.

Customer service is very average, but the Brummie accents are a welcome change to those companies that still insist on off-shoring their call centres.

Although I have not used the airline perks (not even the two free tickets that came with the card), I am quickly getting points towards free flights etc so all in all it seems a good card to have.

I know this post is a little old now, but unless you would fly on a pretty much full-priced Flybe flight anyway, you won't be getting any free flights off this card.

On the few occasions they actually have availability for a flight, the taxes and fees you have to pay on the "free" flight have been more than the all-in price if I bought it with cash.

Unless availability has radically changed in the last year, don't get your hopes up for any free flights!

AMG762

I had a flybe card for around a year. £3k limit. The card was used regularly and all payments were made on time.

The only reward i got from them is an increase in the APR.

Following this the account was closed

SweakyCleanTony

I never heard of Sygma Bank until I recently applied for Asda Money Credit Card.
I have a existing credit card account with Asda (managed by Santander Consumer Credit Services) and I have regularly used my Asda card every week for my shopping at local Asda stores for the last six years and last summer I received a letter from Asda informing me that their association with Santander will be coming to a end next year, so this means I won't be able to continue using my card after Christmas and my account will close.
I was advised to apply for a new Asda Money Credit Card with their new association the so-called Creation Financial Services which operate under the trading name of Sygma Bank UK.

So I went online to Asda website and submitted my application and have been waiting for 4 weeks until I rang their number to find out what is happening, the advisor said on the phone saying that they did receive my application but didn't clicked on the system to send a letter! (I think that they have forgotten!) and they have apologised to me.
When I received their letter several days later, I was surprised, despite my excellent credit rating they have declined my application! :shocked:

They said:-
"In your case, there does not appear to be enough information recorded to allow us to make an informed decision as how you would operate a credit facility"...

Also they asked me to refer to Equifax for my credit rating records. I did that at my own cost there is nothing wrong with my credit rating as they are still excellent!!!
How come would they say that as I have already have three credit card account and I would lose one soon next year!!!
I then wrote a letter asking them to re-consider my application and a week later they wrote to me saying that they are unable to confirm my residency,(I'm surprised about that and I have lived at my present house for 16 years and that information is already there in my credit rating records)
They have requested that I send proofs such as untility bills, phone bills and current insurance policy documents and also requested proof of my annual incomes, I did all that and they still won't reverse their original decision!!!

I have never heard of Sygma Bank or Creation and I wonder if any of you has your application declined whatever your credit rating score is?

I am mystified of their different interest band rates on standard purchases & cash advances.
If your credit scoring on your application is assumpted at "A" band then you pay a APR of 14.9%.
But if you are in "D" band then you have to pay higher 24.9% interest!!!
Sound like Libor as was in the media news!!!!...

BugsyBrowne

For starters you wouldn't know your credit score(rating) as this is private only to a lender when scoring an application and the scores credit reference agencies sell you are meaningless and have no bearing on how a lender would score you as they have their own unigue scoring tool.

AMG762

Sygma / Creation have 'updated' the website.

Have to re-register your account details.

Surprisingly once registered they email you confirmation of the username and password together and in the same email?

chanz4

yup clever isnt