Santander 123 - didn't apply?

Claree__x

Hi all - bizarre one here.

I was in Santander the other day to pay in cash and the cashier asked me if I wanted to apply for a 123 card. I said no because my credit rating is shot to pieces.

I just logged into my current account to check the money had gone in and it's come up with a 123 credit card with a £1,700 limit :eek:

I don't particularly want this card - particularly as it comes with a fee - but on the other hand it does seem a better idea than my 49.9% vanquis (balance cleared every month)

So the issues here are how on earth did I end up with it and secondly, do I keep it?

pjread

If you've a 123 current account and set up a DD it's fee free for the first year I believe. As such, *especially* if your credit file is shot I would personally keep it and use it a bit to get some 'good' history onto your file.

[edit] stick your food shopping and any fuel/train tickets on it and you might make a few quid cashback too, just set up the DD for the full balance... [/edit]

Claree__x

pjread wrote: »

If you've a 123 current account and set up a DD it's fee free for the first year I believe. As such, *especially* if your credit file is shot I would personally keep it and use it a bit to get some 'good' history onto your file.

[edit] stick your food shopping and any fuel/train tickets on it and you might make a few quid cashback too, just set up the DD for the full balance... [/edit]

I do have a santander current account but it's not our main account so not a 123 one. I was actually only in the branch to pay off overdraft interest I didn't realise had accumulated in the aim of closing the account!

pjread

Ah ok, well if you'll spend enough on the card to cover the fee in cashback (so, £200 a month in a supermarket? Or ~£60-70 a month on trains or petrol?) then it's still better than the Vanquis.

Or even consider upgrading the current account to 123 to get 1st year free, if moving some bills over would cover the account fee (so, anything over about £70 combined on gas and electricity would cover it)

That's just my opinion, but I moved some stuff over there myself as I should be about £6-8 a month up on it for doing nothing. Not amazing but it's money for nothing.

dazza.mk

Agreed with the above your options are to complain and get Santander to delete the card from your credit history as unauthorised or use it to build up some 'good' credit history.

Might be worth looking at switching to a 1-2-3 account if you have sufficient direct debits to warrant the fee and then get the card free for the first year.

Basically you are given cashback on Council Tax, Water, Electric&Gas, Telephones/Mobiles/Sky & Santander Mortgages. + reasonable interest rate. You can work out hw it will work for you here:

http://www.santander-products.co.uk/banking/calculator/123dual.html

opinions4u

Keep it.

Use it responsibly (attracting cashback, but paying off in full each month).

Complain like hell to them - £100 compensation please!

_Andy_

Regardless of whether you choose to keep it, it needs reporting to the lender.

Roger1

Anybody remember Access cards? 'Take the waiting out of wanting.'

These were blanket-issued by Lloyds (now Lloyds TSB), Midland (now HSBC), National Westminster (now NatWest) and Williams & Glyn's (now RBS) banks and Irish subsidiaries when the card was launched in 1971. Such an oligopolistic step would be inconceivable today.

Nobody had applied at the time. The banks nominated worthy customers. Many were upset to receive them. So much so that the government of the time made it illegal for institutions to send unsolicited credit cards to customers.

The OP raises a serious point. If they really didn't apply for the card, there seems to have been a breach of the regulations. Yes, it should be reported, though I'm not sure to whom.