We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
does anyone actually get published apr
confusedhousewife
Posts: 3 Newbie
in Credit cards
applied for a sainsburys nectar credit card, still published on their website and linked from MSE at 16.9% variable. you would think that to mean if you have a good rating they would offer you that rate. not in my case, my credit rating is very good, but when i got the pre contract agreement in the post everything is quoted at 19.9% i have queried this and after a 25 minute call told that the 'underwriters' decide percentage rate so are the only ones to comment and are only open 9-5. great ! is this usual practice for these companies.
0
Comments
-
51% of accepted applicants get the advertised Tyipical APR. It used to be 2/3rd but that was changed to 51%.0
-
Only 51% of applicants need to receive the advertised rate in order to stay within the EU directive. Unfortunately, this is normal practice. It used to be 67% in the UK until the EU directive changed it.
Warning: In the kingdom of the blind, the one-eyed man is king.
0 -
I have several cards ranging from 16.9% to 21.9%.
It really does depend on their lending criteria as well, some might be tighter than others. For me it seems to also affect me more because I have several accounts already, so may be seen as being a greater risk.
The APR is really only relevant if you are going to hold a large balance on the card for a long time, if you're going to do that, than a loan may be the cheaper option.
I only use cards at 0% or pay off them in full each month, so the APR is irrelevant to me.0 -
All my cards are at advertised rate, so yes, it does happen.0
-
I was given the published APR for my Nationwide & Creation card
I wasn't, however, given the published APR for my first Sygma cards, Silver & MyWorld.Cashback Earned ¦ Nectar Points £68 ¦ Natoinwide Select £62 ¦ Aqua Reward £100 ¦ Amex Platinum £48
0 -
Advertised rate for both my NatWest cards, Halifax and Virgin card, when I had it, and lower than published APR for Barclaycard.
However, published APR or not, it's still a variable rate.0 -
Couldn't tell you what any of the APR's are on my cards, but as I pay them in full every month it doesn't make any difference anyway.0
-
I was given the published APR for my Nationwide & Creation card
I wasn't, however, given the published APR for my first Sygma cards, Silver & MyWorld.
where you been?Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0 -
bonus, thought hadnt seen you for a whileDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
... Oh, yaknow, working, saving, buying a house :beer: This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.4K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.2K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards