Who are new day ltd (santander c/card assigned) !!!!!

mackfinancial

A letter cam today to say my c/card account along with all Santander customers are being assigned to New Day Ltd!

THIS IS VERY IMPORTANT IF YOU ARE ON THE SAME BOAT PLEASE KEEP READING!

From a look on the net it appears New Day could be a company which helps people establish or have a poor credit rating, They are provide of Aqua Credit card etc.

My mortgage broker asked me if I took anything to do with Pay Day loans as this would cause the application to fail.

I am very worried that lenders would also take a negative view as to why im taking anything to do with a company like this and im looking at closing my account ASAP prior to the switchover.

I want to act fast before this reflects on my credit report.

What are your thoughts on this?

SuperHan

They are not a payday loan company, and it won't adversely affect any mortgage applications.


Apparently it's related to store cards only, my OH had a letter as he has a Debenhams card, but I haven't heard anything about my Santander 123

[Deleted User]

No need to act fast, or even at all. Santander sold their card book, that's all.

SuperHan

In fact, I'm not sure this with impact your credit at all, as in, they won't be credit checking you, and I would imagine they would just keep the account on your report as it stands. I wouldn't worry too much.

JournalGirl

I have received the same letter - I have a Santander store card (which I only took to get a good discount on some Laura Ashley blinds). I have to admit I wasn't comfortable having anything with Santander.

Looking at NewDay website they say the following:
We provide credit and store cards for these retail partners: Debenhams, House of Fraser, Laura Ashley, Topshop, Topman, Burton, Wallis, Miss Selfridge, Evans, Dorothy Perkins, Outfit, Harvey Nichols amongst others. Our consumer brands include the aqua, marbles and Opus branded range of credit cards.

Just because they have a sub-prime in their portfolio doesn't mean it will affect your credit report - can't imagine the Harvey Nicks cardholders are going to be classed as sub-prime borrowers because their card is no longer with Santander

The_Boss

Since it's all been answered now, got to say that I'm a bit envious that the OP lives in an area with a postal delivery on Sundays.

Hazzanet

Isn't this the second time this book has transferred hands? I thought it was originally GE Capital? Should we assume it's not that profitable then if everyone wants rid of it?

agrinnall

Already discussed at length here https://forums.moneysavingexpert.com/discussion/4901087

Fruit_and_Nut_Case

mackfinancial wrote: »

A letter cam (sic) today...

You have a Sunday delivery? I'm impressed.

The_Boss

Fruit_and_Nut_Case wrote: »

You have a Sunday delivery? I'm impressed.

You're only the second person in this thread to say that

mackfinancial

All feedback is appreciated thanks. Im going to seriously consider cancelling this account (Ryan Air C/card with Santander) Not comfortable being transferred to this consumer credit Ltd company. If it was being sold to another bank high street lender id feel more comfortable. I don't think this one is for me! Anyway they wont give me a bigger limit than £1500 and my other lenders give me 6 times that.