Advice urgently needed

lcfc4824

Hi all
am new to this site, I have just tried to surf my card with barclays, was accepted although with a different card to which I applied for.
I have been instructed to sign the contract and send it to them. When I checked the contract it did not state the limit I was allowed to have, I telephoned Barclays, and they informed that I could not be told my limit until I signed the credit agreement and posted it back to them.
I asked why I could not be told the credit limit, and I was told it was against security to do so. I telephoned the FSA and consumer direct and neither said they could give advice, could some one please help me out as to wether this is standard practice for a bank.
It seems odd they are only giving me half the facts before I sign.

Regards

chattychappy

Pretty standard, and they're free to conduct their business this way if they want to.

Not really sure it's security (execpt in the sense their own staff might not have access to this info at this stage).

It may be that with your signature they will do some further checks before deciding what limit they're prepared to give you.

thatsean

So, don't sign, or sign and cancel if you don't like what you get offered.

izools

All credit agreements in the land for credit cards are for a "Variable" limit.

All card providers state that they will decide what your limit is and can vary it up or down from time to time.

There is no way of obtaining a credit card in the UK without agreeing to these terms.

As thatsean says, sign and return, if you don't like the limit, cancel. But you won't find it much different with any other card provider.

padington

izools wrote: »

All credit agreements in the land for credit cards are for a "Variable" limit.

All card providers state that they will decide what your limit is and can vary it up or down from time to time.

There is no way of obtaining a credit card in the UK without agreeing to these terms.

As thatsean says, sign and return, if you don't like the limit, cancel. But you won't find it much different with any other card provider.

Also be aware they can increase the rate by as much as they want (almost) after you have a debt with them, unless you read the letter they send you and respond in 30 days and start a new payment plan. They're criminals, Don't take their money unless you're very very 'on it' with surplus cash around for when they try to stick something on you. Its a dangerous game. They sell your debt to other people, you can never truly close the account ... You've been warned.

Loanranger

Nationwide told me when I applied on phone what my credit limit would be. This was one month ago.