Tesco Foundation Card?

Locogooner

So I was rejected for a 0% money transfer card from Tesco. My main issues being that I'm not on the electoral roll and that I've applied for loan / credit 5 times in the last 6 months. (I was applying while not realizing I wasn't on the electoral roll so that was never going to get me accepted)

In spite of this, just got an email today saying that I've been provisionally offered a foundation card. The assumed credit limit is £1,200. 27.5% apr.

I called them up and they said if £1,200 was advertised in the email - considering they've already done a check and providing my credit file hasn't changed drastically (I applied last week), there's a very good chance I get the amount advertised.

Is this true?

I've heard people saying they've got way less than that and I don't want to have another and then not get what I want.

[Deleted User]

No

£1200 is used so that it's easier to break down the monthly balance and interest etc. over 12 months - plus I think it's used as some sort of legal reason as well though I can't remember correctly.

Wherever you look, Credit Cards always show an example £1200 limit example, and the Tesco reps you spoke to should know that, rather than filling you with false hope

Locogooner

!!! wrote: »

No

£1200 is used so that it's easier to break down the monthly balance and interest etc. over 12 months - plus I think it's used as some sort of legal reason as well though I can't remember correctly.

Wherever you look, Credit Cards always show an example £1200 limit example, and the Tesco reps you spoke to should know that, rather than filling you with false hope

Ah, that's frustrating. Will have to look around more as I really don't want another wasted credit search.

[Deleted User]

You can't pick and choose your limit - my advise would be to take what's offered, use it, pay it back in full each month, then good behaviour etc. may earn you limit increases down the line

What do you mean by look around more? A minimum of a soft search (eligibility check) will be carried out, then a hard search to confirm and complete the application

Locogooner

!!! wrote: »

You can't pick and choose your limit - my advise would be to take what's offered, use it, pay it back in full each month, then good behaviour etc. may earn you limit increases down the line

What do you mean by look around more? A minimum of a soft search (eligibility check) will be carried out, then a hard search to confirm and complete the application

Look around and see if there's any other cards available for my eligibility but it appears not tbh.

I guess i should take it but I also have a meeting with Santander(my bank) for switching my currents account to a graduate account with overdraft so I'm wondering if another hard search could jeopardise me getting one?

Tawny_Owl_3

I also recently tried to apply for a card ..on the credit advise it said I would be 80% accepted but I was rejected. It was TSB. When it asked occupation it only gave one so I put retired altough I work as a supply teacher. I wondered if your retired are you rejected for cards? I would like to transfere about £5000 of high interest. Tesco was another option. Has anyone any advice .Have not applied in years and now concerned. Thanks

Locogooner

yh so i got rejected for the foundation card as welll

[Deleted User]

I don't see how you are going to be accepted without being on the electoral roll. All that 'provisionally accepted' or 'invited to apply' is a load of excrement. Don't keep applying in the hope you will be accepted; this just leaves hard searches on your credit file. Applying for credit 5 times in 6 months will set alarm bells ringing.

[Deleted User]

All that eligibility application (80% etc) isn't worth diddly: the company has already decided before you 'officially' apply. On the eligibility page that gives you a score, 50 % or whatever, a year or two ago, you could break down the coding on the page, and it stated if you've been accepted or not !!, before you actually apply.

Locogooner

Deleted User wrote: »

All that eligibility application (80% etc) isn't worth diddly: the company has already decided before you 'officially' apply. On the eligibility page that gives you a score, 50 % or whatever, a year or two ago, you could break down the coding on the page, and it stated if you've been accepted or not !!, before you actually apply.

Yeah I see that now.

The Tesco rep I spoke to didn’t know what he was talking about.

I think I’m going to try for a graduate overdraft and then that’s it. I’ll have to get the money another way.

[Deleted User]

You're clearly after a sum of money for something - so what is this?