AA 0% Purchase Credit Card - Hidden Costs!

GingerBob_3

Seems like it's a Bank of Ireland thing. Thinking about it, my lad recently applied for a Post Office credit card, which is also a front for the Bank of Ireland. They tried to impose the stupidity on him as well - four different forms of identification, including a payslip, all to be certified at his cost. Needless to say he didn't proceed with the application. Now he checks the CRA's financial surveillance files and finds the scum at the Post Office/BoI have, nevertheless, filed a linked address against him. In itself that's not a problem, but it does go to show that your personal information is sold to the CRAs even when you don't enter into any sort of agreement whatsoever.

adindas

Just got letter today. They will need
ID verification
Address Verification
Bank Detail
Employment detail.

The copy needs to be certified by Solicitor, Accountant, Bank or Doctor ...

I have been on the electoral Role for many years. I recently manage to remortgage my property. I have open and close accounts many times with other banks only a few were asking such a draconian proofs. Currently I have a couples of credit cards and Current Accounts which are shown on the CRAs files.

Other banks, UK passport could accept other professionals for counter signing,
https://www.gov.uk/countersigning-passport-applications. Why are few banks only accept Solicitor, Accountant, Bank or Doctor, while other banks Other organisations could accept other professions with similar standing such as teachers, Lecturers, Engineers, polices, dentists, surveyors, etc. I very much doubt that AA, principality building society are more secure or safe than other banks.

Some people working in the banking sectors are just ignorant and can not even do basic cost / benefit analysis ??

I wonder how many people are willing to pay £8 per document if the benefit or advantage you get is very tiny ?? Not to mention your time to travel.

[FONT=&quot]In the past Principality Building Society is also like that ....

[/FONT]

bigadaj

It's a balance between risk, both regulatory and commercial, and being customer friendly and winning business.

Whether to enter into a commercial arrangement is determined by many things including the fort involved and I'd personally bpnever bother with thsi requirement, presuming of course that this doesn't become mandatory very where which seems unlikely.

adindas

I wonder if anyone could argue that AA credit card / BOI are more secure, care more about security than any other major Banks in the UK.

UK Passport and other banks allow other professions for counter signing, original sighted instead of limited to a handful professions. Is UK passport care less about security than AA credit card / BOI

Considering that we are living in the 21th century, where the vast majority of people financial data are already available electronically from CRAs and from other sources especially for those who already have many accounts, credit cards elsewhere; It is more sensible to conclude that:

- While majority of people working in the finance and banking industry can use their common sense unfortunately few still can not.

- While majority of people working in banking and finance Industry are competent, unfortunately few still are not. They are either lazy incompetent, or less adaptable to learn a new thing …

A few to name are the dicison makers at Bank of Ireland who issue AA creditcards, Principality Building Society ..

bigadaj wrote: »

It's a balance between risk, both regulatory and commercial, and being customer friendly and winning business.

Whether to enter into a commercial arrangement is determined by many things including the fort involved and I'd personally bpnever bother with thsi requirement, presuming of course that this doesn't become mandatory very where which seems unlikely.

EdCar25

Well, this looks like a common problem with the newly recommended 0% no fee AA Credit Card - I got the same request for 4x ID docs and came straight onto this forum... not impressed at all.
Btw this also has implications for our privacy and security - submitting this much personal data and sending it in one bundle through the post - make sure you use a recorded delivery service if you go ahead.

john1002

This also means additional costs of sending recorded, has anybody found a bank that does this free of charge, might help those that bank to try and cut the costs involved.

Also the way the letter is worded no guarantee after doing this you will be accepted.

John

bigadaj

adindas wrote: »

I wonder if anyone could argue that AA credit card / BOI are more secure, care more about security than any other major Banks in the UK.

UK Passport and other banks allow other professions for counter signing, original sighted instead of limited to a handful professions. Is UK passport care less about security than AA credit card / BOI

Considering that we are living in the 21th century, where the vast majority of people financial data are already available electronically from CRAs and from other sources especially for those who already have many accounts, credit cards elsewhere; It is more sensible to conclude that:

- While majority of people working in the finance and banking industry can use their common sense unfortunately few still can not...

- While majority of people working in banking and finance Industry are competent, unfortunately few still are not. They are either lazy incompetent, or less adaptable to learn a new thing …

I'm mot trying to justify their actions. It seems no less odd to me than anyone else.

My statement was more that if they determine they have a higher level of scrutiny which puts their potential customers to more trouble then many of them will give up their application, they will lose business and ultimately revenue, profit etc

adindas

john1002 wrote: »

... has anybody found a bank that does this free of charge, might help those that bank to try and cut the costs involved.

I can't think any bank, BS is willing to do that. It is the same thing to say helping their competitors.

john1002 wrote: »

Also the way the letter is worded no guarantee after doing this you will be accepted. John

I also received the same wording. So arrogant .... I have not seen any other banks, creditcards I have dealt with are worded as such particularly after asking such draconian proofs...

Ben8282

If any of those of you affected by this are AA members then perhaps a strongly worded letter to the AA complaining at the way Bank of Ireland are managing their branded credit card may have some effect if the AA receive enough of them.
Having not read the full text of the letter, it is difficult to comment on it's tone, but I agree that the requirements would appear excessive and I doubt that I would bother myself to do this in order to obtain that card. I have never been asked to produce any document when obtaining a credit card.
I can understand there may be some circumstances where some of the above information might need to be verified, for instance if the applicant is not on electroral roll or they suspect that the applicant may have grossly exaggerated their salary, but to require this of all applicants is ridiculous. The certification of the payslip really made me laugh.

bigadaj

Just vote with your feet.