Still waiting for my &More Credit card!!

GUMBALL_3

Finally received my card this morning (after three lots of forms!) with a reasonable credit limit - enough for the transfer that I want it for anyway.

But, (!?!) noticed in the "important information" leaflet under "other financial information" the first line says...

"Total Charge for Credit £123.72."

What the hell does that mean???

Apart from that everything seems fine.

Oh, by the way - it's my first post on here but been looking for months - what a great site!!!

Sean

YorkshireBoy

GUMBALL wrote:

Finally received my card this morning (after three lots of forms!) with a reasonable credit limit - enough for the transfer that I want it for anyway.

But, (!?!) noticed in the "important information" leaflet under "other financial information" the first line says...

"Total Charge for Credit £123.72."

What the hell does that mean???

Apart from that everything seems fine.

Oh, by the way - it's my first post on here but been looking for months - what a great site!!!

Sean

I've not got an M&S card - but the wife has. I've just checked the paperwork that came with her card 6 weeks ago and can find no mention of these "charges"

However, and this is a long shot, don't the card companies now have to quote some ficticious charges for a ficticious debt to give you an indication of what the charges might be? From memory, I recall that this is based on a £1,500 balance.

Perhaps someone more knowledgable will be along shortly?

Failing that, give them a ring. If you don't fancy the overseas call centre, I think someone recently posted a UK number - but might only be manned during office hours.

Edit: Just remembered we had to ring them regarding the "is it 6, or is it 9 months?" debacle when Mrs YB applied. I spoke to a senior manager on 01244 898923. Please don't tell them you got the number from MSE - we don't want them snooping! Play dumb, and say you "must have got lost in their call handling system".

GUMBALL_3

YorshireBoy,

Thanks for the quick reply -

"Total Charge for Credit £123.72."

Is in a paragraph all on it's own (First page, first paragraph under "other financial information") in the Black / Lime Green leaflet called "Important Information" - the date on the back is March 2005 - you may have an older one.

It doesn't relate to anything and therefore makes no sense!

Sean

mary

Citicards like & More go on and on, with the number of forms you have to fill in. However, today husband's paperwork came with similar "charges". Can't remember the official explanation, except I know I've seen it on one of these threads in recent times. (admittedly it does sound a bit vague) Whoever it was on MSE, assured us that it was for official information only and it doesn't mean you have to pay that amount. Basically, ignore it.

GUMBALL_3

Mary,

Thanks, I was hoping it was something like that - bit vague though as you say!

Would be interested in what it all means if anyone knows.

Thanks again

Sean

Wesker

GUMBALL wrote:

Finally received my card this morning (after three lots of forms!) with a reasonable credit limit - enough for the transfer that I want it for anyway.

But, (!?!) noticed in the "important information" leaflet under "other financial information" the first line says...

"Total Charge for Credit £123.72."

What the hell does that mean???

I've had exactly the same thing too. Was gonna post on here until i saw this post. Not gonna send forms back until i know what it is

YorkshireBoy

Wesker wrote:

I've had exactly the same thing too. Was gonna post on here until i saw this post. Not gonna send forms back until i know what it is

Aha! - found it!

Half way down preceding page it says...

Total Charge for Credit

The total charge for credit is a figure which has to be included under the Regulations. It is based on the assumption of a borrowed amount of £1,500 repaid in twelve equal monthly installments with interest included.

Talk about a well laid out form or what!

As it turns out, my earlier "guess" was spot on!!!!

kidder44

I also failed to send back the enclosed white sheet, thinking it was to set up a direct debit, so they sent me a new lot to sign, the credit card took two weeks to arrive after the pin number was sent out.

So yes, they do seem a bit slow. I did a balance transfer the same day, and i still have 0% for 9 months on both transfers and purchases, so the delay didn't effect the original terms. [The latest for the card is 0% for 6 months on balance tranfers only]