Santander credit card 'balance transfer' - not so simple

loolamadcat

Hi - FYI really.

I just took out the Santander Credit Card as I have a balance to transfer (I put an airline ticket on my existing card). It is unusual for me to have one, so thought I'd make use of the 0% offer. Most of my banking accounts are with Santander so they know my financial situation , however, when the card arrived, it had a credit limit of £500 fixed for six months; which defeats the purpose as it will be clear by then! I was offered the opportunity to write and request the limit is increased, but declined and have cancelled the card. Mastercard underwrite the credit card, and unless you have an MC history this may not be the card for you?

Loo

izools

Mastercard don't underwrite the card at all, whoever told you that is spinning you a yarn.

Santander underwrite the card, Mastercard is simply their elected payment merchant. MC history has diddly squat to do with how much of a limit you'll get.

You were given a £500 limit because your current circumstances and current credit history paint a picture of that being what Santander deemed suitable for you to handle without being stretched, simple as that.