Santander

Terrysdelight

I've just done an online application for a new credit card - I've got a balance I want to transfer!


When going through the on-line form, I had the option to select how I would conduct the Direct Debit for repayments - ie, in full every month (this defeats the object), fixed amount each month or minimum each month. Currently my existing credit card, I pay a fixed £200 each month, although the minimum repayment is about £50.


I was thinking if I selected fixed amount each month, then it looks like I am using the card as a loan (which I am I suppose). Anyway, I opted for the minimum repayment. I've never come across questions for Direct debit before.


Is this a common thing now? Is there a right or wrong answer?

SuperHan

No, it's actually just a choice of how you want to pay it back.

You can change it once the card is set up, but it just tells them what to take via direct debit.

Terrysdelight

SuperHan wrote: »

No, it's actually just a choice of how you want to pay it back.

You can change it once the card is set up, but it just tells them what to take via direct debit.

Thanks for that. Fingers crossed I will get the card.

SuperAllyB

I applied for a santander 123 card two weeks ago and still not got a reply. Hope you're not in a hurry!

Terrysdelight

SuperAllyB wrote: »

I applied for a santander 123 card two weeks ago and still not got a reply. Hope you're not in a hurry!

That was quick, I've been accepted.


I got an email from Santander - I nearly didn't open it as it has an attachment. Perhaps you have an email too and have overlooked it? Perhaps it could be in your junk box.

planteria

yes, with a Balance Transfer deal on the card to come, set up a DD with Minimum Payment in place. and ensure it is stated on your first statement...if not, manually pay the Minimum Payment by Faster Payments from your current account.