Santander 123 Card downgrade

EachPenny

Has anyone managed to downgrade their Santander 123 (cashback) credit card to a standard fee-free one?

Doing the maths I cannot see how I'll be able to earn enough cashback to cover the monthly fee when my 0% interest period ends. I don't really want to cancel the card because it will impact on my utilisation and average account length figures. I'm hoping to be able to downgrade to a fee-free card without actually closing the old card and applying for a new one (the equivalent of downgrading a 123 current account which is permitted).

I've checked the Santander website and T&C's, but all I can see is details of how to cancel the card, not to downgrade it. Any advice gratefully received.

Candyapple

From this thread below, it seems they don't allow a downgrade to a no fee paying card so it's either close it or continue paying.
https://forums.moneysavingexpert.com/discussion/5558305

All you can do is call them and see what they say (and then come back and update the thread), their stance may have changed since the mass exodus of us old customers cancelling.

Neil_Jones

I don't believe there was (is?) a downgrade option from the 123 Card to anything else, officially anyway. Give them a bell and see what happens but realistically it may be time to move on from it if you aren't generating enough cashback on it.

I'm surprised actually there are still any 123 Credit Card customers left after they capped the rewards and changed the way the fees worked on it. Pretty much shot it dead in the water for me and a lot of other people, unless you like fill an army tank up on it every month or something

theburningcat

I'm in the same boat - the maths doesn't add up any more but I'm keeping it because:
- It's my only credit card and apparently it's important to have one for my credit file (my Amex charge card is my card of choice)
- It's helpful to have a card without an FX fee for travelling
- The £36pa fee doesn't warrant either applying for an Amex fee free card (that would cost £36pa in FX fees assuming I spend £1200pa in foreign currency on it) or applying getting a new travel credit card.

I explained to two reps at Santander that they have changed the offer very very significantly from what it was and that I'd be willing to stay if they could transfer it to a Zero account but a new application would mitigate any benefits of staying with Santander. Both said it's their policy not to allow upgrades/downgrades. It actually sounded like they want people to cancel and reapply, even if they end up leaving Santander in the process.

EachPenny

Candyapple wrote: »

From this thread below, it seems they don't allow a downgrade to a no fee paying card so it's either close it or continue paying.

Thanks Candyapple, I did a search earlier and read through that thread, but couldn't see anything about downgrading, just a lot of people ready to close their accounts

Neil_Jones wrote: »

I'm surprised actually there are still any 123 Credit Card customers left after they capped the rewards and changed the way the fees worked on it. ...unless you like fill an army tank up on it every month or something

I've only kept it because I still had some 0% time to use up and the maths just worked out in favour of keeping it. Fortunately I don't have the army tank, but I travel in London a few times a month so public transport fares quickly reach the capping level. In fact my plan was to give my PAYG Oyster card a generous top up in the final month as Oyster credit is much easier to store and is non-perishible, unlike petrol Topups have been a convenient way to maximise transport spend each month without actually 'spending' the money.

I'll be giving them a call to see if there is a downgrade option, and will report back - I just wanted to be able to start the phone call from a position of knowledge I'm also going to have to clarify the cashback terms as it seems you don't get paid cashback (already earned) after you cancel. It appears they credit cashback a day or so after the next fee is taken, so I'll need to take a view on whether it is worth paying an extra month's fee in order to get the final cashback payment.

I can't say I'll be sorry to be shot of my Santander credit card, and as soon as I've rehomed some more money my 123 account may well go the same way. :mad:

EachPenny

theburningcat wrote: »

Both said it's their policy not to allow upgrades/downgrades. It actually sounded like they want people to cancel and reapply, even if they end up leaving Santander in the process.

Thanks for the tip theburningcat. I've found Santander's approach to most things 'quirky' to say the very least. When it comes to their credit card department the word 'quirky' is woefully inadequate.

theburningcat

I would summarise their approach as "what can I say, accurate or otherwise, to get off the phone as quickly as possible without doing anything"?

Their credit card team is particularly inept.

DeterminedSingleMummy

I had to cancel and reapply. But I got a bigger limit when I got my new card. No idea why tho.

X

jozxyqk

When I applied for my 123 card I asked if my existing Santander cc could be 'upgraded' and they said no, I had to open a new account.


So I presume it can't be downgraded - maybe the T&Cs are too different to make it possible

EachPenny

DeterminedSingleMummy wrote: »

I had to cancel and reapply. But I got a bigger limit when I got my new card. No idea why tho.

Please don't ask questions like that when it comes to anything to do with Santander... it will send you crazy :)

I spoke to Santander earlier and they confirmed I would have to close my account and apply for a new card, the geniuses in Santander's marketing and strategy departments should give themselves a jolly good pat on the back for losing yet another customer

But there is a bright side to everything... as soon as I've closed my account I'll be free from the nightmare of Santander's credit card craziness... yipeeeeeeee!!!! :beer::j:rotfl::T:money:

Thank you all again for the help and advice

YorkshireBoy

Seems like their policy may have changed? My experience last year was that you could hold (at least) two Santander cards simultaneously, so no need to close first before re-applying. Once you've got the new card you can simply arrange for some/virtually all of the limit from the old card to be transferred to the new one.

When I closed my 123 card last year there was a workaround for both getting the last month's cashback AND avoiding the fee. Can't remember the exact detail (the CSA actually suggested it...they're not all clueless!), but maybe 'advance notice of closure'?