New card - Abbey Zero

Moggles_2

mdam wrote: »

I've just been turned down for a Zero card. I wanted it to use on holiday. I've never had a credit card and my only debt is a student loan which I've been paying off via my salary for the last few months. I have an Abbey ISA. I don't know whether I should be worried and check my credit rating or if they have turned me down because they know they're not going to make any money out of me!

If this would be your first credit card, you have a limited credit history, so from Abbey's perspective you're something of an unknown quantity. (Savings a/cs like yourAbbey ISA won't help you, unfortunately.)

You probably need to be more concerned about actually getting a credit card, rather than trying to select the best 0% card for your holiday.

Lenders launch these 0% promotions, which are sometimes heavily advertised, to draw in new customers. Often they are flooded with applications and can afford to cherry-pick applicants.

Presumably you have a bank account and you're registered on the electoral roll. The bank which holds your current account may be the best place to start.

For tips to improve your chances of credit card acceptance, have a look at the *Credit Rating* articles on the main site, especially Martin's *Manage and Improve your credit score* article

http://www.moneysavingexpert.com/banking/credit-rating-credit-score#improve

barneypanda

I applied for an Abbey Zero card online and still haven't heard anything either way for a month now. I've decided to go for an Egg card now as my 0% deal on BTs is about to run out on my Tesco card. I have just got sick of waiting!

PBA

NickX wrote: »

No I'm afraid not :mad:

With AbbeyZero the 6 months commences from the 1st of the month during which the account was opened.

So, open the account in July, and your 6 months starts from 1st July and finishes 1st January.

You can see how a month can get shaved off quite easily.

No it doesn't, it's 6 months from the day the card is issued.

HamiltonL

It is definately the 1st of the month that the 0% is calculated to. We have even been advised of this officially.

barneypanda wrote: »

I applied for an Abbey Zero card online and still haven't heard anything either way for a month now. I've decided to go for an Egg card now as my 0% deal on BTs is about to run out on my Tesco card. I have just got sick of waiting!

Best call up the applications line (0845 60 21 582) and check the application was received as that seems a long time. I fear the application got lost soon after you sent it off online. Timescale wise you would have received your agreement pack by now, and maybe even got the card.

YorkshireBoy

HamiltonL wrote: »

It is definately the 1st of the month that the 0% is calculated to. We have even been advised of this officially.

Do you (Abbey) have any plans to put that on your website/in your T&C's?

PBA wrote:

it's 6 months from the day the card is issued

That would certainly be unusual, because most providers say 'from account opening'...which could be some time before the card is actually "issued".

NickX

PBA wrote: »

No it doesn't, it's 6 months from the day the card is issued.

On what basis are you saying this ?

Because I have been advised of the 1st of the month end date by staff at Abbey Zero, and this is now confirmed by HamiltonL who also works for Abbey Zero.

HamiltonL

YorkshireBoy wrote: »

Do you (Abbey) have any plans to put that on your website/in your T&C's?.

Nothing I can do about that. However I always advise the cardholder (new and old) it will need to be paid off by the end of month x, and this is the advice Abbey customer services staff have been given as well.

PBA

YorkshireBoy wrote: »

Do you (Abbey) have any plans to put that on your website/in your T&C's?That would certainly be unusual, because most providers say 'from account opening'...which could be some time before the card is actually "issued".

Account opening is the same day as the card is issued. 0% is then 6 months from this date. Absolutely 100%, from someone who issues Abbey Zero cards every day.

HamiltonL

Oh dear, two Abbey staff members diasgreeing with one another! It is definately from 1st of the month. We've just had the first of the Organic offers ending from last summer (30/6/08 deadline) and payments cleared 10/7. He was charged interest on 9 days.

Certainly for phone and online applications the card can take between seven to ten working days to come through (sent second class) after the account opens, although recently it has taken about five working days for most people. My card was dated on the covering letter as three days after the apparent opening of the account, although I don't know if this applied for everyone. It's unlikely even sent second class it would take upto two weeks to get from embossing HQ (Bradford) to the recipient.

YorkshireBoy

HamiltonL wrote: »

It is definately from 1st of the month. We've just had the first of the Organic offers ending from last summer (30/6/08 deadline) and payments cleared 10/7. He was charged interest on 9 days.

That's a different product though isn't it?

Maybe the Zero card operates differently, and you're mistaken? PBA does seem awfully sure of him/herself.

Then again, it doesn't (really) explain NickX's situation.

Hmmm...the plot thickens.