Beware Sainsbury’s CC delays

TheIsland

Just wanted to leave a warning to people applying to Sainsbury’s Bank 0% credit card, which came up at the top of MSE’s list.  It could end up costing you money even before your balance transfers have gone ahead!

I have an almost 100% credit score (ie. excellent), plus I got pre-approved on Sainsbury’s online application form.  However, I’m 30 days in from the initial application and only today have I received the agreement forms to sign.  This has come after 3 phone calls to chase for progress, with 2 teams involved, who seem to have difficulty communicating or being able to give a definitive status (they couldn’t tell me if the forms had been posted and could only quote up to 10 days from when I called).

This has meant that I’m now going to be  charged interest on the 2 cards that should have received the balance transfer funds.  I have to say, this has been the worst experience I’ve had with balance transfers.  Usually, with other banks that I’ve used, everything is done within a week or less.  Lesson learned with Sainsbury’s Bank though.  It really should come with a warning when listed on MSE.

MorningcoffeeIV

It could - and does - happen with any lender, so you'd need the warning on all providers.

Better for applicants to build in contingency where they have a critical need for credit.

CliveOfIndia

Bear in mind that most large companies will outsource printing, card production and postal services to a third party provider, so there's already very often a kind of built-in delay, as it were.  Add to that the recent disruption to the postal service, with the associated backlog of post, and it's not entirely surprising that there could be quite a delay between approval and receipt of documents.  I'm not saying there isn't also an internal communication issue with the lender, but I suspect it could, to a considerable extent, be external forces at work.

Also just to note, your credit score will have no bearing on anything.

MalMonroe

I have a Sainsbury's card which I've had for a few years and which started off as a 0% balance transfer card.

I applied online and there was minimal delay.

Your experience, to me, seems extraordinary and if I were you I would definitely contact them and complain about this very long delay because, if my own experience is anything to go by, it does not normally take half as long as you have waited to get a Sainsbury's credit card. 

As you are online, it's not clear why they and/or you didn't transact via email but in any case, I think you have cause for complaint. Tell them what you have told us here and see if they will refund you at least the interest you've had to pay on your other cards while waiting for them to get their act together.

Please don't just grumble and take no action. They need to know that they've done  it wrong, you are far from happy and you have been inconvenienced in more ways than one by their total inefficiency.

I have not had the same experience with Sainsbury's bank but I do believe that everyone should receive the same service and that it should be consistently good. Postal strikes as an excuse won't wash with me, there are plenty of other ways they can get mail to customers. As a fellow customer, I'm disappointed that you've had such a bad experience. 

Start off gently but please do let them know of your disappointment and concerns. You could phone in the first instance and then confirm with a letter.

[And as Clive says above, your credit score is never seen by anyone else but you.]

elasto

I had the same experience as MalMonroe:

I got a Sainsbury's 0% only a few months ago, and, checking my records, it was 10 days between my initial application and my first transaction made. So I had received my card and pin within 8 working days of applying. It was likely quicker than that as I probably didn't make a purchase the very first day I got it.

I would think your experience would be highly unusual and I'd expect Sainsbury's to want to sort it out and compensate you.

TheIsland

Thanks all for your replies.  So it seems it’s only me then.  Very weird.  They do seem very disorganised internally though.  I wonder if something has changed in the way their teams are managed.  In any case, I will see how far a complaint goes.  Thanks again.

born_again

TBH. Do not expect complaint to be anything other than a sorry & maybe a few £.
Given they can out top on MSE, could mean that they got inundated with applications & could not cope.
Which is something FOS can not do anything about as it is internal procedures.

WillPS

I don't think Sainsbury's are at fault here, although I don't know why they insisted on paper forms to sign and return as I've never had that experience with them and I'm on my third 0% card now (over about 10 years). It's ultimately their prerogative to take as long as they want dealing with your application and you've no right to a product/decision within any time period (unless they've made a commitment to that).

Chalk it up to experience and don't leave it so close to the end of your current offers in future. I normally start moving with about 3 months to go (although I target 0 fee and purchase card offers so I don't have a 'sunk cost' of a transfer fee to deal with). A month is certainly riskily short.

pecunianonolet

Check if they give anywhere an SLA to how long they need to get stuff going and if they do you have a handle to raise a complaint. Did it with Santander, they created two profiles and it took ages, numerous branch visits and calls to have it merged. Was only able to use the card 4 weeks after and I complained and they extended my terms and paid compensation as they concluded the fault was on their side. 

Similar with RBS, they stated 7 days but it took them a few days longer. Told them that I now wasn't able to BT and that I have to pay interest. They asked how much and I said I need to wait for the statement. Got a rather genours compensation as well. 

Would probably complain anyhow and see what the outcome is. You can only win in my opinion.