Banks not advertising credit card offers anymore?

cymruchris

Alex9384 said:

LOL, it's not about that! I think you are judging by your own standards.

I have more than a dozen cards here, next to my laptop and some more cards in my wallet. It's simply easier to have different colours so I know immediately which card it is, without even needing to read what's printed on it.
For example, my Nationwide Select credit card used to be nice shiny silver, the only silver card in my wallet. Now they changed it to blue which is almost the same as their debit card, so now I need to double-check which one am I using. Not to mention there are other blue cards.

And yes, some people do care about design too. There was a whole thread about it.

Apple Pay? Not everyone wants to be 100% dependent on their phone in every area of their life. I really don't understand this obsession with having everything in your phone. If your battery dies, you then can't do anything. Not to mention that some people simply like to have a physical product in their hand, i.e. a physical card. So, yes, it definitely does matter.

Certainly not judging by my own standards, no.

If the 'look' is important - then maybe consider adding a skin to your cards so that you can easily identify them. They are available from multiple sources including Etsy. They cost obviously - but it'll get you over the problem of everything looking the same.




Having things on my phone is useful as the primary method of payment for me - and it's not hard to keep my cards in my wallet as backup for when the battery dies - and then I'm only be bringing out my physical cards once in a blue moon rather than for every transaction. It's not an obsession - simply convenience and speed. As you say it matters to some people - you included - and that's ok, we are all different in what's important to us. A wider question might be - do you need as many cards as you have? Or, if each has their place in your financial world, can you separate them into 'regularly used' (Keep in your wallet) and 'used for certain functions' (Keep in a drawer/small safe/secure box/secondary wallet)?

Alex9384

Deleted_User said:

The problem is that they may not want to do that or have more bands. It still doesn't solve the solution of people ringing up complaining they didn't get the best offer.

Well, one particular card usually doesn't have that many bands, but if it did, the info could look something like "This card offers 0% on purchases from 12 months up to 24 months". This would include anything in between.

Representative APR is still shown though. Don't people complain about that too?

I've just done Lloyds eligibility check and, while months and credit limit are tailored to me, the APR is only shown as representative.

cymruchris

Alex9384 said:

Deleted_User said:

Any offers are always going to be conditional on a credit check so offering x number of months is a choice of the lender. I suspect some don't purely because they don't want the hassle of people expecting say 31 months at 2.9% fee and getting 18 months at 3.5% fee and then complaining (there are examples on the forum of this)

Simple solution...

Our credit card may offer 31 months OR 27 months OR 21 months, based on your personal circumstances. Any problem to do this? If the same website said you may get 15 months or 12 months or 9 months, I know I won't even bother with eligibility check, if 15 months is their top offer.

Because it'll only apply to a certain tranche of customers (which you may be in the fortunate position to be included in) - and put the backs up of the other half that don't qualify. It'll lead to a string of complaints from those that didn't get the 'advertised offer'. Whereas if they tailor their offer to their judgement of your circumstances - and just offer a rate accordingly - as you don't know what the 'best available' is, you're more likely to accept if you think the offer is reasonable and not kick up a fuss. (The majority of credit card applicants are not part of the MSE community - and are likely not as focused on the best deals as some of us here are)

They could also say 'our credit card may offer free use of a Bentley between the hours of three and four pm on a Friday' but as they only have one Bentley, and one time slot, only one person would get it. What is a simple solution for you - isn't really the blanket solution for everyone. (And yes the example there is silly and extreme - and no card would offer such a deal I know) - but moving forwards I do think more and more providers will adopt the model of offering a product that matches you based on their risk assessment rather than 'Our best deal is X that you might get - but might not'. 

Alex9384

How are comparison sites going to show us "best cards" if no one will know what the best offers actually are?

Alex9384

I'm also wondering how often should I do eligibility checks.
For example Santander checker said I'm not eligible, but I can try again after 30 days. Some other provider (don't remember which one) said I can try again after 90 days. Most providers don't say when I can try again.

I'd like to avoid being "seen as desperate for credit" just because I will have to do eligibility checks so often. It's not that I really need a new card every month, but I want to know what are my options at any given time.

Alex9384

cymruchris said:

Certainly not judging by my own standards, no.

If the 'look' is important - then maybe consider adding a skin to your cards so that you can easily identify them. They are available from multiple sources including Etsy. They cost obviously - but it'll get you over the problem of everything looking the same.


Having things on my phone is useful as the primary method of payment for me - and it's not hard to keep my cards in my wallet as backup for when the battery dies - and then I'm only be bringing out my physical cards once in a blue moon rather than for every transaction. It's not an obsession - simply convenience and speed. As you say it matters to some people - you included - and that's ok, we are all different in what's important to us. A wider question might be - do you need as many cards as you have? Or, if each has their place in your financial world, can you separate them into 'regularly used' (Keep in your wallet) and 'used for certain functions' (Keep in a drawer/small safe/secure box/secondary wallet)?

I mentioned your own standards because it reminded me people who criticise others for having more powerful or bigger cars. Just because they are unable to think of any reason for buying a bigger, more powerful car, other than showing off, that doesn't mean that's really the only reason other people have.

Thanks, but those skins... no. It's not the same thing and it will most likely start peeling off soon. It's probably not for embossed cards either. And how do you even see card details with the sticker on it.

For me paying with phone is neither convenient, nor fast. It's more convenient to have a thin light card in my hand and tap it on the terminal. Even taking it out of my wallet is faster than taking out my phone, then unlock it, then launch Google Pay, then check which card I want to pay with, then select it. Tapping the phone is slower too, it sometimes takes ages until the terminal reads it. Geez! And even after that, it happened to me that payment was taken from a different card. No, thanks. For me, phone wallet is the very last option. For paying online, I need to use my physical card too, because Google Pay doesn't show me card details.

Alex9384

Obviously, I'm not the only one who would like to see all cards and all offers.

...and a BS reply from the bank. You can make an "informed choice" right AFTER the eligibility check. No reason to hide cards on the main page.

[Deleted User]

Alex9384 said:

Obviously, I'm not the only one who would like to see all cards and all offers.

...and a BS reply from the bank. You can make an "informed choice" right AFTER the eligibility check. No reason to hide cards on the main page.

Again, it's simple - don't give people stuff they won't qualify for and they won't start ringing up to complain they aren't eligible for it, I don't see why that's BS? Telling people that the bank offers a great card card but sorry you're not eligible for it, "here's what you could have won" is just asking for complaints.

Banks want to minimise costs including not having the plebs ringing up asking why they can't get an AmEx Centurion alongside not offering Mr Moneybags a credit builder card with a £500 limit.

Tailor the options to stuff people can get / fits the demographic the bank wants to offer the card to and no-one gets offers they don't need. If you aren't eligible for any (or at least any premium ones), saves wasting the client's time and a potential credit check to be told what the bank already knows i.e. that you're not eligible.

Alex9384

cymruchris said:

Because it'll only apply to a certain tranche of customers (which you may be in the fortunate position to be included in) - and put the backs up of the other half that don't qualify. It'll lead to a string of complaints from those that didn't get the 'advertised offer'. Whereas if they tailor their offer to their judgement of your circumstances - and just offer a rate accordingly - as you don't know what the 'best available' is, you're more likely to accept if you think the offer is reasonable and not kick up a fuss. (The majority of credit card applicants are not part of the MSE community - and are likely not as focused on the best deals as some of us here are)

They could also say 'our credit card may offer free use of a Bentley between the hours of three and four pm on a Friday' but as they only have one Bentley, and one time slot, only one person would get it. What is a simple solution for you - isn't really the blanket solution for everyone. (And yes the example there is silly and extreme - and no card would offer such a deal I know) - but moving forwards I do think more and more providers will adopt the model of offering a product that matches you based on their risk assessment rather than 'Our best deal is X that you might get - but might not'. 

Yes, but if you come to a car dealer's showroom, wouldn't you like to see all models and all options for each model?
Or would you like to be first asked how much money do you have and then be told "OK, so you can only afford this and this engine, we won't show you any other car and we won't tell you what other engines are on offer" in the model we're offering you. Is this how it should work?

dr_adidas01

Alex9384 said:

cymruchris said:

Because it'll only apply to a certain tranche of customers (which you may be in the fortunate position to be included in) - and put the backs up of the other half that don't qualify. It'll lead to a string of complaints from those that didn't get the 'advertised offer'. Whereas if they tailor their offer to their judgement of your circumstances - and just offer a rate accordingly - as you don't know what the 'best available' is, you're more likely to accept if you think the offer is reasonable and not kick up a fuss. (The majority of credit card applicants are not part of the MSE community - and are likely not as focused on the best deals as some of us here are)

They could also say 'our credit card may offer free use of a Bentley between the hours of three and four pm on a Friday' but as they only have one Bentley, and one time slot, only one person would get it. What is a simple solution for you - isn't really the blanket solution for everyone. (And yes the example there is silly and extreme - and no card would offer such a deal I know) - but moving forwards I do think more and more providers will adopt the model of offering a product that matches you based on their risk assessment rather than 'Our best deal is X that you might get - but might not'. 

Yes, but if you come to a car dealer's showroom, wouldn't you like to see all models and all options for each model?
Or would you like to be first asked how much money do you have and then be told "OK, so you can only afford this and this engine, we won't show you any other car and we won't tell you what other engines are on offer" in the model we're offering you. Is this how it should work?

This is rubbish as most dealers don’t have every model with every optional extra available, simply because it would be very costly and not profitable for to them to do it. They usually have a base model and then explain what options are available and do factor in what a customer can afford. 

Comparing credit cards to Car models is totally irrelevant as they are 2 completely different products with no similarity between them. 

I can’t remember the last time I took my car out of my pocket and went to pay with it at the supermarket. Nor can I remember using my credit card to start my car and drive it. 😉

Lots of people will prefer to have card and loan offers tailored to their individual financial circumstances so they can make an informed choice, rather than get generic offers that nearly half of applicants will not get. 

Eligibility checkers are here to stay, so you’re gonna have to get used to having to use them before being offered a product.