Why am I offered 9.9% apr on a 6.9% sainsburys credit card?

khampson

gb12345 wrote: »

You were approved - just not for the APR that you wanted.

Anyway, credit agency and website opinions are irrelevant - the lender has access to other information that they don't, which will be used to make its decision.

Yes true, got a couple of others to try so not to worry. Thanks anyway.

Keith

safestored4

Stop faffing around. How many people have to tell you that you have had a good offer that betters the rate you are presently paying, and that there is no guarantee that Barclays or any other issuer will better it.

guesswho2000

khampson wrote: »

Yes I know 9.9% is very good but Barclays are offering a credit card for 7.9% apr, I dont want a handful of credit cards till I get 1 I want. I only intend to have low balances less than £1000.

Keith

You'd be better off with an introductory offer of 0% on purchases in that case - Tesco card 0% for sixteen months, job done.

khampson

safestored4 wrote: »

Stop faffing around. How many people have to tell you that you have had a good offer that betters the rate you are presently paying, and that there is no guarantee that Barclays or any other issuer will better it.

Because I am willing to shop around to get a better deal, if it was your car insurance you would shop around to see if you could get a better offer? And true I might not get a better offer but what is wrong with trying?

meer53

9.9% on a credit card ? I'd snap their hands off.

meer53

khampson wrote: »

Because I am willing to shop around to get a better deal, if it was your car insurance you would shop around to see if you could get a better offer? And true I might not get a better offer but what is wrong with trying?

Whats wrong with "shopping around"? How about the effect "shopping around" will have on your "perfect" credit score ?

gb12345

khampson wrote: »

Because I am willing to shop around to get a better deal, if it was your car insurance you would shop around to see if you could get a better offer? And true I might not get a better offer but what is wrong with trying?

Shopping around for car insurance doesn't get you multiple searches on your credit file. Each card application that you make will result in a search and multiple searches in a short period of time will make you look desperate and decrease your chances of getting offered a headline rate even further.

khampson

gb12345 wrote: »

Shopping around for car insurance doesn't get you multiple searches on your credit file. Each card application that you make will result in a search and multiple searches in a short period of time will make you look desperate and decrease your chances of getting offered a headline rate even further.

Your probably right, just done a calculation and to repay a £1000 over a year on my current Halifax credit card at 11.9 apr only works out £10 more than paying itoff on a 9.9% apr card so I can live with that to be fair but thank you for all your help.

Keith

You-kip

I'm pretty sure people with a perfect credit history get the advertised rate and as you didn't get this means your credit is not as perfect as others.

Shopping around is now going to cost you a 15% plus APR.

khampson

You-kip wrote: »

I'm pretty sure people with perfect a perfect credit history get the advertised rate and as you didn't get this means your credit is not as perfect as others.

Shopping around is now going to cost you a 15% plus APR.

No its not I have a credit card at 11.9% with a 0 balance already, my issue was it advertised 6.9%, they offered me 9.9% but it could of been 24.9%.