Santander 123 Credit Card

Legacy_user

Just got this Santander 123 Credit Card.....

1. This £24 annual fee. I have read this is charged once the card is activated and each year on the anniversary.....

Is the £24 fee effectively going to act the same way as any other payment I make using the card, like if I was to go to Sainsbury's and do a grocery shop of £24......then that would end up being minus £24 of the credit limit used....which will then be paid back at the end of the month via the bank transfer I have set up.

2. It says first payment is on 1st March. I have activated the card today. Is payment always due on the 1st of the month....why is February skipped?


Thanks.

shortcrust

Isn't the fee £36 now? Perhaps it hasn't gone up yet, or you got in before.

It's charged just like any other purchase and will appear as part of the balance on your first statement.

You get a statement every month on the same date(ish) and the payment date is just under four weeks after that. That means that when you open new card you don't pay for almost a couple of months. People have different dates. My statements come around the 22nd and my payment is taken around the 18th.

20aday

I believe the first £3 payment commences on the anniversary of the card's opening so OP may well be exempt until 2017.

If you're a Santander 123 Current Account customer and it's been open less than 30 days:

No monthly fee for 6 months
Within the first year of opening a 1|2|3 Credit Card, if you open (or already have) any of our 1|2|3 current accounts [excluding 1|2|3 Mini Account (in Trust)], we'll refund the £3 monthly fee to your 1|2|3 Credit Card account for 6 months. To qualify, set up a Direct Debit to pay your card from your current account within 30 days.

So worth setting it up if you are.

System

20aday wrote: »

I believe the first £3 payment commences on the anniversary of the card's opening so OP may well be exempt until 2017.

If you're a Santander 123 Current Account customer and it's been open less than 30 days:

No monthly fee for 6 months
Within the first year of opening a 1|2|3 Credit Card, if you open (or already have) any of our 1|2|3 current accounts [excluding 1|2|3 Mini Account (in Trust)], we'll refund the £3 monthly fee to your 1|2|3 Credit Card account for 6 months. To qualify, set up a Direct Debit to pay your card from your current account within 30 days.

So worth setting it up if you are.

As far as I was aware I should be paying the £24 annual fee as I applied before Jan 11th and the account was opened the same day. The £3 per month fee came in on the 11th. The £24 charge supposedly is charged when the card is activated, but I see no charge on my account....so I am not 100% certain if I am on a monthly or annual fee.

though.....

I do have a 123 bank account too. This 'No monthly fee for 6 months' thing......was there something similar for those with 123 banks accounts under the £24 a year scheme? such as free for a year? or half price for the first year?

I set up a direct debit to pay off my credit card using my 123 account a few days ago.

daveyjp

There was no fee in the first year if you set up a DD from a 123 account to pay the card bill.

I've just cancelled a 123 credit card after almost a year as the monthly fee was about to kick in.

I prefer a cash back card with no annual fees.