Can I find out my limit before I sign?

Options
Hi,

Signed up to a new Asda CC and been accepted and want to b/t as much of either £4300 or £3100 as possible in order to save appx 6% APR and go interest free for 12 months, but there's no detail in the agreement about my credit limit and they won't reveal it until I actually sign the agreement.
Is this right? I see it as signing up to something but not knowing the entirety of what I'm actually getting. Sort of like someone offering me a bag of oranges where they're telling me there's definitely at least 2 in there but maybe more and I need 6.
Are they legally bound to tell me what my offered limit is before I sign the agreement?
I haven't signed the agreement yet because I don't want to get it plastered onto my credit report for 7 years if they're only offering me something silly like 500 quid, which would be useless for my needs.
Anyone have any ideas or help?

Thanks!
«1

Comments

  • izools
    izools Posts: 7,513 Forumite
    Combo Breaker First Post
    Options
    A friend of mind found himself in a similar situation with regard to Halifax not so long ago.

    They passed him through a specialist team who advised what his "provisional" credit limit was but couldn't grantee this is what he'd get should he sign and return the agreement. It was, however, exactly what he got when he signed and returned the agreement.

    If Santander won't allow you to do the same it may be wise to apply elsewhere.

    Creation have a great deal on at the moment and so far their limits have been well in excess of what applicants have requested to transfer so definitely worth a shot IMHO.

    They search a different credit reference agency to Santander / Asda, too, so they won't see you've just applied for a card elsewhere.

    Also they can tell your your limit as soon as you've been accepted, if you call them once you've applied.

    Good luck!

    http://www.your-application.co.uk/netfinancecertegymicrosite/creation/Welcome.aspx?
    Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
  • [Deleted User]
    Options
    Mozette wrote: »
    Surely they will have done a search on you before offering you a card, and at least you will be making some saving however much you are able to BT?

    Maybe if you tell them you want to BT £x they might be more forthcoming?
    I told them how much I wanted to BT as part of the application, but that's not always a guarantee that they're going to give you that much limit. Recently the gf wanted to BT about 1100 and Barclays gave her a 300 quid limit, rendering it entirely pointless and crapping on her credit record for the requisite time period. It seems to me to be yet another stupid part of the lack of proper regulation in the UK's banking industry. Why obfuscate what the customer's getting? "You want a Ferrari? Sign here! ... Here's enough money for a 2nd hand Cortina"
  • [Deleted User]
    Options
    izools wrote: »
    A friend of mind found himself in a similar situation with regard to Halifax not so long ago.

    They passed him through a specialist team who advised what his "provisional" credit limit was but couldn't grantee this is what he'd get should he sign and return the agreement. It was, however, exactly what he got when he signed and returned the agreement.
    Thanks for that, I'll call them up first and see what they say and then try the other option if it's not suitable.
  • izools
    izools Posts: 7,513 Forumite
    Combo Breaker First Post
    Options
    I told them how much I wanted to BT as part of the application, but that's not always a guarantee that they're going to give you that much limit. Recently the gf wanted to BT about 1100 and Barclays gave her a 300 quid limit, rendering it entirely pointless and crapping on her credit record for the requisite time period. It seems to me to be yet another stupid part of the lack of proper regulation in the UK's banking industry. Why obfuscate what the customer's getting? "You want a Ferrari? Sign here! ... Here's enough money for a 2nd hand Cortina"

    You're better off without anything run by Santander anyway. They are an absolute joke and poor excuse for a bank and their obfuscating your credit limit amount is likely to be the start of many problems.

    It's not difficult to see what I mean, just google "Santander Complaints".

    The Creation card I linked to has had other applicants reporting of the balance being credited to their old credit card within a week of application online, before their new card even turns up!

    Limits so far have been in the region of £3,000 to £7,500.
    Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
  • [Deleted User]
    Options
    Well I just got India and had to spell my name 6 times before them telling me my credit limit was £1000. So there's no point me signing up for that Asda one really. I'll give this Creation one a bash and see what gives. Thanks for your help, I may be back.
  • dizzyblonde82
    Options
    I recently got an ASDA card and they wouldn't tell me my limit before the card arrived - I was given a £2800 limit. Over the weekend I applied for the creation one and was given a £2000 limit.
  • [Deleted User]
    Options
    I recently got an ASDA card and they wouldn't tell me my limit before the card arrived - I was given a £2800 limit. Over the weekend I applied for the creation one and was given a £2000 limit.
    OK, thanks, well I'll apply for the Creation one and compare knowns as at the moment I have a known and an unknown.
  • [Deleted User]
    Options
    Same result, accepted but my limit's a secret and I can't find any number to contact them on apart from their fraud line.
    I might just ditch this idea and try again in 5-6 months when I've got rid of the 1200 balance card, they may be a bit more interested as at the moment I'm using 78% of my available credit.
    A French company that doesn't even appear to have its own domain name hosting its website isn't getting my business when it involves this much money. I can't afford for a mess to happen after working hard to clear my credit report of the ex wife and other bits and pieces.
    Thanks for your help, everyone.
  • dizzyblonde82
    Options
    Creation number is: 0871 200 0348 and they are open until 10pm
  • izools
    izools Posts: 7,513 Forumite
    Combo Breaker First Post
    Options
    Same result, accepted but my limit's a secret and I can't find any number to contact them on apart from their fraud line.
    I might just ditch this idea and try again in 5-6 months when I've got rid of the 1200 balance card, they may be a bit more interested as at the moment I'm using 78% of my available credit.
    A French company that doesn't even appear to have its own domain name hosting its website isn't getting my business when it involves this much money. I can't afford for a mess to happen after working hard to clear my credit report of the ex wife and other bits and pieces.
    Thanks for your help, everyone.

    They will tell you your limit straight away as soon as you call. DizzyBlonde82 has provided their number - and it is a UK only call centre unlike companies like Santander, Barclaycard, etc.

    The limit is no secret!

    The 0% offer is for longer with their card and if you've included the balance and number of the card you want to transfer they're very likely to give you what you need.

    They are more lenient than other lenders :o Let us know the result! :D
    Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 343.7K Banking & Borrowing
  • 250.3K Reduce Debt & Boost Income
  • 450K Spending & Discounts
  • 235.9K Work, Benefits & Business
  • 609K Mortgages, Homes & Bills
  • 173.4K Life & Family
  • 248.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards