M&S Bal Transfer - Warning about opening

gladini

I have found out the hard way that you can get stuffed when your card actually arrives, as they don't tell you the credit limit you are to get when you confirm the application.

So the card has now arrived and it's half the amount I was expecting to transfer.
And the card info says nothing about the 31month 0% transfer offer I was expecting, nor nothing about the 0% shopping carrot.
I rang M&S who said the account did have the 0% offer on it, but also that their credit risk team would not change the limit, not at least for 6months. 

So I am now stuffed, I either have to

decline activating the M&S card, close the account and wait for all the credit ref agencies to bubble back to showing me with just the cards I had 2 months back, and then trying opening a new card elsewhere that hopefully gives me the amount I wanted.  Meantime my current 0% ends and I start paying them interest. 

Or, keep this M&S card, put the max on to it I can, and then also now apply for another 0% card off of the listings on this website, and hope what they give me covers the rest of the balance I want to move over .  Meantime pay interest okay but on a reduced amount. 

< sigh > 
Anyone know which cards do tell you the credit limit you'll get before you press the final button in application?? 

[Deleted User]

You do the second option - transfer what you can and start saving. 

I can't help you with the 'shopping carrot' though. 

Nebulous2

I don't know if they still do, but Nationwide told me the credit limit they expected to give me during the application process. 

Ebe_Scrooge

gladini said:

I have found out the hard way that you can get stuffed when your card actually arrives, as they don't tell you the credit limit you are to get when you confirm the application. This is true of all cards.

So the card has now arrived and it's half the amount I was expecting to transfer.
And the card info says nothing about the 31month 0% transfer offer I was expecting, nor nothing about the 0% shopping carrot.
I rang M&S who said the account did have the 0% offer on it, but also that their credit risk team would not change the limit, not at least for 6months. Again, true of all cards.  They assess your risk when they've churned your data through their system, and only then will they decide whether, how much and at what rate to lend to you.

So I am now stuffed, I either have to

decline activating the M&S card, close the account and wait for all the credit ref agencies to bubble back to showing me with just the cards I had 2 months back, and then trying opening a new card elsewhere that hopefully gives me the amount I wanted.  Meantime my current 0% ends and I start paying them interest.  This is why, whenever you take out a promotional offer, you ALWAYS make plans to pay off the balance when the promotional rate expires.  You must never bank on being able to transfer again.

Or, keep this M&S card, put the max on to it I can, and then also now apply for another 0% card off of the listings on this website, and hope what they give me covers the rest of the balance I want to move over .  Meantime pay interest okay but on a reduced amount. 

< sigh > 
Anyone know which cards do tell you the credit limit you'll get before you press the final button in application??  None of them.  They can't possibly assess your risk until they've accessed your credit data and run it through their algorithms.

My answers in bold above.

gladini

Ebe thank you for your reply, however as you can see from the reply above yours, someone did get told. 
I'm sure my current RBoS one did tell me too, when I applied, I am sure it asked me how much I wanted to move over. 

Alas the nationwide one is only available at the moment to existing customers. 
I shall keep hunting. 

cx6

Did you see the MSE info about the Santander one..

New. Longest 0% with no transfer fee that's open to all, plus claim a £30 Amazon voucher. All accepted will definitely get the full 21 months at 0%, and most who apply by Monday 28 February can claim a £30 Amazon voucher just for being accepted. 

[Deleted User]

I found it hit and miss, I think the NatWest one I took out gave me a limit on the app when I applied but not done one other than that for years and cannot remember the Barclaycard one. Limits are not 100% anyway until they check you and any balance is better than nothing as it means you can hit other card harder

gladini

Just gets worse, so I tried to activate the card -- it requires me to register on a website, so I start this, that then says I have to download a phone app, so I do that, and the phone app won't let me log in as I have not finished the website registration. 
So I restart the website which says I have to get a digital pass from the app, which won't give it to me as I have not finished registration .......

Ganga

gladini said:

Just gets worse, so I tried to activate the card -- it requires me to register on a website, so I start this, that then says I have to download a phone app, so I do that, and the phone app won't let me log in as I have not finished the website registration. 
So I restart the website which says I have to get a digital pass from the app, which won't give it to me as I have not finished registration .......

Can you not phone them and get help?

[Deleted User]

gladini said:

Just gets worse, so I tried to activate the card -- it requires me to register on a website, so I start this, that then says I have to download a phone app, so I do that, and the phone app won't let me log in as I have not finished the website registration. 
So I restart the website which says I have to get a digital pass from the app, which won't give it to me as I have not finished registration .......

I have taken out this card. The point where you get to the app page (step 7 iirc), you should have already done all the other bits like setting up a login/password. I then downloaded the app and was able to login using the details I had created, then they sent me a text to confirm it and was logged in fine. You will need to speak to their team as it worked fine for me on PC and using an Android phone.

One thing I did find poor was the lack of communication - Barclays text me when the BT is being processed, then when it's done. The M&S one has done the transfer fine but I had no confirmation, beyond the screen after it was completed, that it was done and I checked today and the card now has a balance and my other card appears to be pending a transaction of the right amount but you wouldn't know if without checking the apps!