MSE News: Debenhams and Topshop store cards sold by Santander

Options
"Many store card customers will have their accounts run by SAV Credit next year, after it bought Santander's business..."
Read the full story:

Debenhams and Topshop store cards sold by Santander

OfficialStamp.gif

Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.

Comments

  • KxMx
    KxMx Posts: 10,618 Forumite
    First Post Name Dropper First Anniversary Photogenic
    Options
    Debenhams no longer offer store cards to new customers, haven't done so in fact for some time.

    I don't know what will happen to existing customers or whether this will change with a new administrator.
  • chanz4
    chanz4 Posts: 10,906 Forumite
    First Anniversary Name Dropper First Post Xmas Saver!
    Options
    This has been known for months
    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.
  • grumbler
    grumbler Posts: 58,629 Forumite
    Name Dropper First Post Photogenic First Anniversary
    Options
    New Look, for example, charges 28.9% annual interest on its store card, This would cost £289 a year, assuming a constant £1,000 balance.
    A very valuable comment. Saved me from reaching for my calculator.
  • [Deleted User]
    [Deleted User] Posts: 7,175 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Options
    When Santander took over the Acadia Group store cards from GE money a couple of years ago they closed my account even though it had a zero balance. Just checked my £2 credit file this week and the Santander store card account is still showing as active and being updated every month. Does this mean it is not fully closed?

    I want it closed down properly as I don't want it anyway.
  • TruthSleuth
    Options
    Debenhams converted a lot of their cards to credit cards if people wanted to take that option, can't remember exactly when. They were obviously planning to stop the store card operation back then - around 2009 maybe?

    I only just came across the news that Santander are selling this and a load of other store cards to SAV when I was looking into Debenhams ppi reclaim progress on the forums. Seems to me that they are offloading all the GE Capital business they took over before anyone can hold them responsible for all the mis-sold ppi on those cards. Think I'll see if anyone on the ppi forum has had the same thought. :cool:
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 343.6K Banking & Borrowing
  • 250.2K Reduce Debt & Boost Income
  • 449.9K Spending & Discounts
  • 235.8K Work, Benefits & Business
  • 608.8K Mortgages, Homes & Bills
  • 173.3K Life & Family
  • 248.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards