Santander 123

sirwiggum

I bank with Santander, no overdraft, DDs paid every month, adequate salary, a while back when I had a default on my account and needed to apply for a credit card for work expenses.
Santander: 'Computer Says No'.

Few months down the line, the default has dropped off, I'm looking to get the last account with 'Arrangement to Pay' markers removed from my file.

I get an email stating that I'm guaranteed to be accepted for a '123 credit card'.

I had a brief look - most of the benefits I wouldn't use. I've got the xmas shopping in, so the Amazon cashback is no use. Of the petrol cashback, it is only GB petrol stations like Total. Most petrol stations in NI are different brands like Maxol, Go, Top etc.
Also there is a 24 quid yearly charge.

Is it worth applying for, even to have open on my credit file, or is it a means of making 24 quid off me?

Is it a good sign that I've even been offered it - that my credit file is starting to look better?

grumbler

It's obviously a good sign, but IMHO it makes no sense to waste £24 p.a. if you don't need it. Try applying for Luma instead that pays 4% (check this for NI).

Thrugelmir

"Guaranteed" but still subject to.

F1F93

It's worth asking if you would be guaranteed for the normal credit card as well, with 0% on purchases and balance transfers for 3 months and 17 months respectively. You may well be guaranteed for both.

Like you, I got an email saying that I was guaranteed to be accepted for the standard Santander credit card. I rang them up and asked if I was guaranteed for the 123 card as well, as that suits me better. They said yes, I am guaranteed for both.

As a bit of background info, I am a student who banks with Santander, with no income at all (except student loan) and this was my first credit card. I have no "bad" credit history, because I have none at all. No previous credit. And I've heard of people with great credit history being rejected for this card, yet I was accepted. The guy on the phone said that it was more than 99% guaranteed. Obviously they can't absolutely guarantee it, but if I was accepted, I can't see why you wouldn't.


tl;dr:
You're probably accepted for the standard one too. Get that one if you need one.

Sabbathdei

I received the same email, I actually sent it to Santander (who I bank with) as a possible fraudulent email ! having searched on here for other people who've received the email and got the card, I decided to go for it, and a couple of days before Xmas I had a letter confirming my PIN. Checking my online banking, lo and behold there it was with a £1800 limit. Now you may think this is nothing special, but to say my credit rating is a little "sub-prime" would be an understatement, it's taken me years to get my other card payments etc in line to the point where i haven't missed a monthly payment in three years, so yes I'd say if they give one to me then it must be a sign of your rating improving, as, while the 123 may not be a platinum Amex, it's still a cut above the Cap 1 or Aqua (both of which I have.) Having said that, I applied for an M&S card in January of this year and was declined so maybe it's because Santander *really* like me !