silver credit card sygma

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I had applied for a card a week ago but now i changed my mind is & have phoned to cancel the agreement.
I had read bad reports on this company, as i haven't received the card & canceled the agreement which they said they will do i have to when the card arrives destroy it
Is this all i need to do & won't have any problems with them
Would appreciate some input on this card & anyone who dealt with them
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Comments

  • Hax
    Hax Posts: 890 Forumite
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    I've got a Silvercard - had it since September and not had any problems with them so far. Initial limit was £1,000 and that got increased to £1,300 in December.

    What sort of things have you heard about them that put you off?
    My posts are my own opinions based on my experiences and info gathered from sites such as this.
    They are not a substitute for professional financial advice - but you knew that already didn't you? ;)
    VSP 2011 - Member #25 - Started 6th December 2010 - Total As Of 4th May 2011 (21 weeks in!) - £323.67/£500 - So far so good!
  • lostfamily
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    That they overcharge & that even when you have credited money to your account & it clear they chase you
    I phoned & i didn't get a limit i wanted as i just wanted to transfer balances so it was zero interest for 12 months but the limit they said i have is not enough so no worth it for me
    Thanks for your input
  • Hax
    Hax Posts: 890 Forumite
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    lostfamily wrote: »
    That they overcharge & that even when you have credited money to your account & it clear they chase you

    I don't see how they can overcharge - their fees and APR are clearly laid out at the time of application so you know what you're signing up for.

    As for payments being made - mine have all been made within a day or two of the statement being produced (so plenty of time for them to clear) and I have had no problems with them - the payments arrive quite happily and all is well.

    I suspect that the stories you have read are from people who have mismanaged their account and made their payments too late.
    My posts are my own opinions based on my experiences and info gathered from sites such as this.
    They are not a substitute for professional financial advice - but you knew that already didn't you? ;)
    VSP 2011 - Member #25 - Started 6th December 2010 - Total As Of 4th May 2011 (21 weeks in!) - £323.67/£500 - So far so good!
  • lostfamily
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    Thanks i have been put off & while they may be a great company the fact i didn't get the amount i wanted in credit to do what i want would have stopped me anyway so from that point of view it not worth my while changing to them Thanks
  • Hax
    Hax Posts: 890 Forumite
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    lostfamily wrote: »
    Thanks i have been put off & while they may be a great company the fact i didn't get the amount i wanted in credit to do what i want would have stopped me anyway so from that point of view it not worth my while changing to them Thanks

    Depending on the limit they offered you, *something* at 0% is better than that same *something* being at 20% APR (or whatever your APR is).

    Plus, you've made the application and been accepted and the search footprint has been left on your credit file. You can't reject too many lenders otherwise you will end up with so many search footprints that you will begin to look "desperate" and your applications will be rejected on that basis alone.
    My posts are my own opinions based on my experiences and info gathered from sites such as this.
    They are not a substitute for professional financial advice - but you knew that already didn't you? ;)
    VSP 2011 - Member #25 - Started 6th December 2010 - Total As Of 4th May 2011 (21 weeks in!) - £323.67/£500 - So far so good!
  • BugsyBrowne
    BugsyBrowne Posts: 5,697 Forumite
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    lostfamily wrote: »
    Thanks i have been put off & while they may be a great company the fact i didn't get the amount i wanted in credit to do what i want would have stopped me anyway so from that point of view it not worth my while changing to them Thanks

    Also if you were accepted and you cancel it will still be on your file for 6 years..
  • lostfamily
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    does that mean i can't change my mind & go back or take their offer up
  • BugsyBrowne
    BugsyBrowne Posts: 5,697 Forumite
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    lostfamily wrote: »
    does that mean i can't change my mind & go back or take their offer up

    Give them a ring and ask..
  • PNPSUKNET
    PNPSUKNET Posts: 4,265 Forumite
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    sygma offer a good range, never had issues
  • izools
    izools Posts: 7,513 Forumite
    Combo Breaker First Post
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    lostfamily wrote: »
    does that mean i can't change my mind & go back or take their offer up

    Sygma allow you to re-open closed accounts within 30 days no questions asked, over 30 days they still do but they perform a soft search to make sure you are still credit worthy. No problems :o

    I, too, have had their cards before and had a problem with one to start off with the balance transfer accruing interest, which they sorted out. No problems with the second card.

    Payments have always credited the account within two working days of leaving my bank account.

    As long as you pay via online banking (BACS) you'll have no trouble, IME at least.
    Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
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