Sainsbury’s credit card transfer to NatWest

Freeheeler

The credit card transfers sound to be a nightmare.  Fortunately I only had a Sainsbury's Bank savings account which I used  very occasionally with telephone banking and an annual paper statement. I discovered that this has been transferred to NatWest as an online account.  This was not made clear in any of the earlier information from Sainsbury's and feels wrong. But good news ( I hope) is that I have rung Natwest -less than 10 mins hold - and the second person I spoke to has got me back to paper statements.   So worth doing if this affects anyone else

catnip37

MClarke_2 said:

Received my first statement from natwest after the transfer. There are 2 charges for interest on there which shouldn't be there. It's absolutely impossible to get hold of anyone. Anyone else had this issue?

I have the same issue. I have a 0% purchase rate on my card until next year and I still had interest charge on the Oct and Nov statements (none on the pre-takeover statements). The chat is not very useful, I tried contacting them after the Oct statement and they only sent a template letter explaining how interest is charged on credit cards (which I’m aware of and I didn’t use the card for things that would immediately incur interest charges). I just contacted them again, but still waiting for  them to answer my questions. Meanwhile, I tried to find the T and Cs for the credit cards taken over from Sainsbury’s Bank but couldn’t find anything online. 

AuntSal

Hi All

- A warning about your credit file.

For some reason, I realised my credit score has dropped so I looked into it further. Sainsbury's bank showed as me having an open credit card account with them as of today, 19th November.

They transferred my card over on the 3rd of October. The update was placed on my credit file in September and obviously has not been updated for nearly two months now.  I am fuming as they should have deleted this as I no longer have an account with them and it appears they have stopped updating credit files on the transfer and are no longer updating them.

In fact, given all the transfer issues, I cleared the balance and closed the card within a couple of days of the transfer to NatWest. I can't get it removed from my credit file without emailing Sainsbury's directly, so I'm trying this.

I'd suggest everyone check their credit files as you could now be showing as having an account with NatWet AND with Sainsbury's.

vacheron

AuntSal said:

Hi All

- A warning about your credit file.

For some reason, I realised my credit score has dropped so I looked into it further. Sainsbury's bank showed as me having an open credit card account with them as of today, 19th November.

They transferred my card over on the 3rd of October. The update was placed on my credit file in September and obviously has not been updated for nearly two months now.  I am fuming as they should have deleted this as I no longer have an account with them and it appears they have stopped updating credit files on the transfer and are no longer updating them.

In fact, given all the transfer issues, I cleared the balance and closed the card within a couple of days of the transfer to NatWest. I can't get it removed from my credit file without emailing Sainsbury's directly, so I'm trying this.

I'd suggest everyone check their credit files as you could now be showing as having an account with NatWet AND with Sainsbury's.

Credit card closures often take 2-3 months to drop off your credit file. 6 weeks is quite normal. 

AuntSal

vacheron said:

AuntSal said:

Hi All

- A warning about your credit file.

For some reason, I realised my credit score has dropped so I looked into it further. Sainsbury's bank showed as me having an open credit card account with them as of today, 19th November.

They transferred my card over on the 3rd of October. The update was placed on my credit file in September and obviously has not been updated for nearly two months now.  I am fuming as they should have deleted this as I no longer have an account with them and it appears they have stopped updating credit files on the transfer and are no longer updating them.

In fact, given all the transfer issues, I cleared the balance and closed the card within a couple of days of the transfer to NatWest. I can't get it removed from my credit file without emailing Sainsbury's directly, so I'm trying this.

I'd suggest everyone check their credit files as you could now be showing as having an account with NatWet AND with Sainsbury's.

Credit card closures often take 2-3 months to drop off your credit file. 6 weeks is quite normal. 

My issue is, it's not a closure. Sainsbury's used to update this monthly. They have not updated my balance prior to the handover as they normally would do at the end of September and again at the end of October. Nat West on the other hand have completed the account closure and it shows. So I find it highly unlikely that Sainsburys will now go back and delete accounts but I'm hopeful if you are correct.

The main issue here is the borrowing/account balance was not transferred to a new provider on credit files, so it effectively appears that you are borrowing double what you actually are, across two accounts instead of one and that impacts people who might be applying for mortgages and such.

vacheron

Out of curiosity I checked mine yesterday and that is exactly what my credit report is also showing. Looks like the balance amount at the time of transfer that is left remaining.

I would possibly be frustrated too if I was planning a large purchase in the next few weeks, but for now I will just wait and see if it disappears in a month as two... I have a feeling it will.