Santander 123 fees

badger09

Deleted_User wrote: »

Hi badger, I have investigated taking out a Halifax Clarity credit card (as a replacement for my Santander 123 cashback credit card). I agree that, with the £5 monthly reward cashback, it looks like a good deal, provided you can fund the Reward current account with £1000 per month and you can spend the requisite amount per month on the credit card (I can, or most months anyway). There is no fee, so failing to cross the necessary hurdles in any month would not be a disaster).

However....I decided to try out my likelihood of acceptance on the MSE tool before applying. It returned the news that I was only 30% likely to be accepted. I cant understand this. My only borrowing of any sort since the mid 1990s (when mortgage paid off) was my Santander cashback credit card taken out in April 2015, full balance paid off timeously every month. I had no difficulty in getting accepted for that. i have no defaults or judgements on my record.

I have decided to stay put with the Santander card meantime, rather than risk rejection by applying for the Halifax Clarity card.

Just wondered if you (or anyone) might know what is going on. Maybe I should build up a bit of good history with Halifax first (Reward current account only opened last month)? How accurate is the MSE card acceptance tool? It doesn't ask many questions (eg no question about desired credit limit).

No idea how useful the MSE acceptance tool is, but I agree it might be a good idea to build up a few month's history with Halifax Reward account first.

That's exactly what I did;) Instead of the minimum £750 pay in, I paid in at least £1000 (for about 3 months from memory) and also used the account to pay a few bills, rather than simply move it straight out again:p My cc application was accepted immediately, with an indicative limit of £2.5k, which was fine for my purposes, but actually came with a £4k limit:)

Good luck

[Deleted User]

Thanks badger, good advice. I will start paying in £1000 a month to the Halifax Reward current account, with a view to applying for the Clarity card in about 6 months (assuming the £5 monthly Reward is still offered!). The Santander card fee is now payable monthly (used to be £24 a year upfront),so you can change part way through a year without loss.