Refused a Santander Credit Card 1st time in my life

jgallcash

No problem Jen.

Star-fire, I'm sorry if I offended you with my post but I wanted to be clear. The Halifax card that was originally referred to was the clarity card. Another poster then quoted the clarity card comment and said they couldn't agree more. Then you said that the Halifax card was 0% for 15 months.

I don't think it was unreasonable to assume that is what you were referring to but again apologise if you think I was being rude. I would appreciate any feedback on this matter- these forums wouldn't be as great as they are if it wasn't for people posting advice and helping others. Star-fire with your 2000 + posts it's clear that you are a long serving member of the forums and your feedback would be greatly appreciated.

YorkshireBoy

jgallcash wrote: »

I could pay this balance but I just wanted to spread it over a longer period to be honest.

Its not a large balance either about £800 and am looking to pay off £100 a month

You will need to be making more than 3.7% gross (for a basic rate tax payer) on your money for this to be a financially viable option. Are you?

http://www.stoozing.com/calc.php

jgallcash

3.15% tax free Yorkshire.

I know this is money saving expert but this scenario is convenience really.

Anyone know if it would be detrimental to apply for the Halofax card now that I have been rejected? or if I should bother appealing this decision?

Thanks again :money:

YorkshireBoy

jgallcash wrote: »

Anyone know if it would be detrimental to apply for the Halofax card now that I have been rejected? or if I should bother appealing this decision?

I wouldn't bother appealing no.

In fact I wouldn't have applied for a 13 month card when there are 14, 15, 16, 17 & 18 month cards on the market with the same fee or less.

Another application won't do any harm, so long as you've nothing important coming up such as a remortgage in the near future.

Haze

I would personally deal with the small debt over two or three months and pay it off and close the cards down. When you really needed the credit lines you would get them more easily

jgallcash

Thanks for the info and input.

jgallcash

thought about this and I'm going to just pay the balance, close the card and not bother with another card.

Can someone explain to me how the rejection from Santander might affect my rating/score/credit report?

I'm considering appealing if it's going to be too detrimental.

izools

jgallcash wrote: »

thought about this and I'm going to just pay the balance, close the card and not bother with another card.

Can someone explain to me how the rejection from Santander might affect my rating/score/credit report?

I'm considering appealing if it's going to be too detrimental.

The rejection won't affect you in the slightest.

No record is kept of whether you are approved or declined for a credit product, just the fact you applied, nothing more.

I urge you not to appeal - simply because it is Santander. They are an appauling bank to be with - have a read of this thread before you consider writing to appeal:

https://forums.moneysavingexpert.com/discussion/3097870


If you want to stooze, I have two recommendations:

Barclaycard 18 Month 0% offer for your Balance Transfer balance

Marks & Spencer 15 Month 0% offer for Spending you do in that time.

You can then use the M&S card for all your expenditure, save the cash, and at the end of the 15 months with M&S, and 18 months with Barclaycard, you should have a nice tidy bit of interest to profit from.

You can use the Barclaycard Pre-Application checker to see if you're likely to get their 0% / 18 Month card based on your credit file - without affecting your rating:

https://letmechoose.barclaycard.co.uk/

Good luck!

jgallcash

Great info thanks Izools.

I wasn't applying to stooze to be honest but that's interesting!