Guaranteed Acceptance

Estateprincess

Hi,

I have asked a few questions lately and have received very helpful answers so I'm back again!

I have some savings accounts with Santander and when checking them today I have found in the "My Offers" section an invitation to apply for the 123 Credit Card. When I click the link it says:
"Acceptance is guaranteed subject to routine fraud and anti-money laundering checks. This offer is guaranteed for selected customers only.
Apply by 7th April 2013"

I have looked at my spending habits and this card would be ideal for me. I would close my Sainsbury's card as the Double Nectar Points offer has expired (and cash is much more useful than nectar points!) and use the Santander CC instead.

My question is how guaranteed is "Guaranteed Acceptance"? The only accounts I have with Santander are savings ones so they have no idea of my spending habits or how I run my credit cards - why would they offer me the card without knowing these things? My credit files do not show any searches from them except for money laundering checks etc when I opened the savings accounts.

The feedback for the card seems good and based on my spending last year I would have made a decent amount of cash back even after the annual fee and wouldn't be tied as I was with the nectar points I earned on my Sainsbury's CC.

Should I apply for the card??

Thanks

[Deleted User]

It's guaranteed (subject to those checks) but they could of course offer you a very small limit if they saw something they didn't like and considered you too high a risk.

Estateprincess

Deleted_User wrote: »

It's guaranteed (subject to those checks) but they could of course offer you a very small limit if they saw something they didn't like and considered you too high a risk.

That seems so obvious now you have said it! I don't know why that didn't occur to me, so it could be their way of getting new customers that they can then try and sell further products too if they think they can make money from them based on how they use the 123 card?

Thanks, some things aren't obvious until someone else points them out.

If I applied and thought the limit offered was too low I could cancel the agreement with them and continue with the Sainsbury's one couldn't I? I might apply and see what they say if it won't leave a search on my file.