Cancelling credit card application

edited 30 November -1 at 1:00AM in Credit Cards
10 replies 1.6K views
stuwhostuwho Forumite
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edited 30 November -1 at 1:00AM in Credit Cards
Hi,
I applied online for a sainsburys credit card. I went for the 28 month interest free on balance transfers. Got accepted & got the paperwork through the post, but have just noticed it only gives me 3 months interest free on purchases, I'd have preferred longer. Does it go against me or effect my credit rating if I don't sign it & phone up to cancel it?

Replies

  • zx81zx81 Forumite
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    It'll just appear as a search on your credit files.
  • [Deleted User][Deleted User] Forumite
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    MoneySaving Newbie
    EDIT:

    The promo is 28 months on Balance Transfers, not purchases.

    3 months interest free on purchases is pretty standard for most card issuers.
  • chattychappychattychappy Forumite
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    Agree - why not call them and say you really wanted a BT card. Perhaps they can put an offer on the card that you could use.

    Failing that, why not just use the 3 months on purchases. Use the cashflow saved to throw some money at the balance you were hoping to transfer. Meanwhile apply for a new BT card elsewhere.
  • stehoukstehouk Forumite
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    if a hard search is done and you don't end up accepting the card will any other applications see that the account wasn't opened and assume they were refused the card ?
  • chattychappychattychappy Forumite
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    stehouk wrote: »
    if a hard search is done and you don't end up accepting the card will any other applications see that the account wasn't opened and assume they were refused the card ?

    I suppose they could make that assumption, but I don't think it matters. They would make their own decision based on the data in front of them which would be just as good as the information in front of Sainsburys. So why would they take Sainsbury's decision into account? (Particularly, as you say, it would only be an assumption.)
  • edited 16 March 2018 at 11:19AM
    zx81zx81 Forumite
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    edited 16 March 2018 at 11:19AM
    They'll assume you didn't take it up, either through choice or decline.

    Which way they land will very much depend on your wider file and circumstances.
  • VortigernVortigern Forumite
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    stuwho wrote: »
    Hi,
    I applied online for a sainsburys credit card. I went for the 28 month interest free on balance transfers. Got accepted & got the paperwork through the post, but have just noticed it only gives me 3 months interest free on purchases, I'd have preferred longer. Does it go against me or effect my credit rating if I don't sign it & phone up to cancel it?
    Did you get the 28 months BT offer?
    If so, and you have a balance to transfer, you could accept this card, then apply for another card for purchases.
  • edited 16 March 2018 at 10:32PM
    edited 16 March 2018 at 10:32PM
    Hi StuWho,

    Please note this is not advise - this is only information and processes are able to change.

    At this point during the application if you still have your Credit Agreement you're still currently within the application stage meaning nothing has been "set in stone" - you have the contract and not signed this back yet. Please remember though - Sainsbury's Credit Cards by this point has done a full credit search to provide you with the Credit Card.

    However, if you were to phone up and cancel the application this isn't a black mark against your Credit File - it would show the search. It could have an impact on you getting lending in the short term going forward. *Edited as per wrong wording thanks to BazzyB for the call out!

    If you have any further questions please don't hesitate to ask!

    Kind regards,
    Anonymous
    :j
  • bazzybbazzyb Forumite
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    it would show that we accepted you for a Credit Card, and then you declined.

    No it wouldn't. It would show as a search on their credit file. Nothing more, nothing less.


    It could have an impact on you getting lending in the short term going forward.

    Whilst I guess this is technically true, if it's just a single search and they haven't submitted loads of applications elsewhere there is almost zero chance of it having any impact.
  • bazzyb wrote: »
    No it wouldn't. It would show as a search on their credit file. Nothing more, nothing less.




    Whilst I guess this is technically true, if it's just a single search and they haven't submitted loads of applications elsewhere there is almost zero chance of it having any impact.

    Hi Bazzyb,

    Let me just clarify what I meant.

    I was meaning it would appear that they have applied for the Credit Card, apologies for the confusion. Let me be very clear, it doesn't specify Accept/ Decline that is my mistake and wrong wording.

    The second part as mentioned is accurate - as you mentioned, if you haven't done any previous ones and this is a first time it's not going to make much, if any difference.

    Apologies again for the confusion!
    :j
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