M&S Money CC - no credit limit given?

Jim02

mary wrote:

Just noticed on husband's confirmation letter of being accepted for a card that 30 days for 0% BTs starts from the date of the letter. So hurry up with the card then!

My acceptance letter said nothing about the BT period being 30 days from receipt of the letter. Indeed, this would surely be a case for the FSA or whoever, as they are setting a start date that occurs before you are physically able to make the BT, because the account isn't open yet!

The leaflet they sent me along with my acceptance letter states that the free BT period is 'up to six months from the date your Account is opened...'

So -
1. Presumably, when my account is opened, they can tell me my credit limit. As they weren't able to do this when I called them earlier this week, I assume my account isn't open yet.
2. Their standard Ts and Cs are not in keeping with the web offer or the email they sent me confirming a 9 month IF period.

M&S clearly don't know their !!!!!! from their elbow, which makes me slightly nervous about the whole thing! I think I'll give them a call today and see if I can initiate the BT, just in case!

mary

Jim02 wrote:

My acceptance letter said nothing about the BT period being 30 days from receipt of the letter. Indeed, this would surely be a case for the FSA or whoever, as they are setting a start date that occurs before you are physically able to make the BT, because the account isn't open yet!

The leaflet they sent me along with my acceptance letter states that the free BT period is 'up to six months from the date your Account is opened...'

Husband has the same leaflet as you with the above details. However in the letter which came with it, which said " Good news, your application for an &More Credit CArd has been accepted ........
At the very bottom of the page it states" Please note this is a promotional rate and is treated as a Special Transaction within the Terms and Conditions. To take advantage of 0% for 9 months on balance transfers you must transfer any balances within 30 days of the date of this letter. ........."
The letter is dated 19th May, it's now the 26th and the card is supposed to arrive within 7 days, so I'm waiting for this morning's post.
The green and black leaflet called "Important Information" states on the front "These terms and conditions will apply until 31st May 2005. You will receive separate notification of the terms and conditions that will apply from that date."

Jim02

My letter doesn't have that statement on it!

I really don't see how they can legally give you a start date that you can't act upon because your account isn't open. Then again, maybe they can 'take your order', then transfer the balance and issue the card with that balance already owing?

mary

I quite agree. Usually you can't do a BT until you know what your credit limit is, otherwise you get a letter from them saying they can't transfer the optimistic amount you hoped to get and put down on your application form, as they usually offer you initially a lower credit limit than you want. In any case, usually you have to activate the card first and give them the security number on the back, which you can't do, if it hasn't arrived, so as you say they are asking the impossible. I'll be patient for a day and keep you posted

Grumpy_Old_Duffer

I only use Credits Cards with Interest Free Periods for 'stoozing' purposes, probably the same as the rest of you.

1. Applied on-line for the M&S card before 7th May.
2. Received Application Acceptance letter and posted Acceptance 11th May.
3. Received Confirmation of Acceptance/PIN Number letter 19th May.
4. Received actual Credit Card 26th May.

It wasn't until 4. happened that I knew what the Credit Limit was ..... the worst Credit Limit I've had so far AND you have to pay at 3% per month. The next lowest Credit Limit I've got on a card is at least 50% more than the M&S Card. It can't be because of the number of cards I'm using for 'stoozing' because my last Card gave me a Credit Limit of a 'stonking' 60%+ of my Gross Salary:dance: :shhh: .

Now there's me moaning about a Credit Card Company not giving me free money to invest!!!!;)

mary

Card did arrive in the post with a credit limit of £3K.
Not a lot, some would say, but do we ask for more or be satisfied?
(Coincidentally husband applied for IF card at exactly the same time and they came up with £6.5K)

Other considerations, husband salary is £26K and he currently has £35K in credit cards, neatly stoozed away.
My income is a modest £14K with £21K stoozed.

I guess you would say, no harm in asking!

gus

Got my card today and they gave me a credit limit of £6k.

I rang up to do a balance transfer and asked to increase the limit and although 'computer says no' the helpful CS person spoke to her colleague and go my limit increased to the £7.2k I wanted to fully transfer the balance on my MBNA card. I now have £7.2k earning 5% in ING for 9 months.

I believe the CS was in India and I found the lady very helpful indeed.

mary

Husband tried to increase his limit from £3k, but they wouldn't budge, but then husband hasn't got a very persuasive technique. Shame I can't do it for him! Oh well, it was better than a rejection. Between us we have £37K stoozed, so can't complain.

november

I just got my M&S card. The pin turned up several days ago.

I got the card and the terms & conditions leaflet (dated until 31st May) with a 6 month limit. The card was attached to a page with my limit on of £8000 and the phone number to activate but I had no letter.

I activated and then phoned customer services. I explained I was expecting a 9 month limit. He asked if it said that on my letter. I explained I didn't have a letter and that I took the card out in store where I had asked for and been assured it would be 0% at 9 months. The guy apologised and assured me I could have a 9 month limit if I did a bt so I did.

I'm happy - 2 cards reduced down to one again