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  • FIRST POST
    • MSE Martin
    • By MSE Martin 3rd Nov 04, 2:21 PM
    • 8,111Posts
    • 42,248Thanks
    MSE Martin
    (Don't) Get the Macs
    • #1
    • 3rd Nov 04, 2:21 PM
    (Don't) Get the Macs 3rd Nov 04 at 2:21 PM
    The Macs Credit Card was a fake card I designed for BBC1s 'Should I worry about... spending'. !

    The aim was a card that looks good but is Pants.

    View the specs of the card

    Can you spot whats wrong with it.

    (and to start you off, have a think about why it's a 'macs' card)


    And PS to the regular Credit Card Nerds from the forum - don't do all the issues in one go - let the newbies have a go. !If you're an experienced tart or stoozer, why not just say how many issues you spotted.

    Martin
Page 1
    • payless
    • By payless 3rd Nov 04, 2:53 PM
    • 6,585 Posts
    • 2,342 Thanks
    payless
    • #2
    • 3rd Nov 04, 2:53 PM
    Re: (Don't) Get the Macs
    • #2
    • 3rd Nov 04, 2:53 PM
    Saw the program, I did second guess most of the issues with the card, before you even mentioned them -
    but will hold my hands up to not getting the "name" until it was later explained.
    • Reaper
    • By Reaper 3rd Nov 04, 3:02 PM
    • 6,338 Posts
    • 4,627 Thanks
    Reaper
    • #3
    • 3rd Nov 04, 3:02 PM
    Re: (Don't) Get the Macs
    • #3
    • 3rd Nov 04, 3:02 PM
    ;D

    Well it goes to show the value of Summary Boxes as most of the sins are nicely laid out there. For example try as I might I can't see how anyone can qualify for the 0% balance transfer.

    Of course those signing up should have also questioned the value of a MACS point and read the very small print saying it is not a real credit card! That should have been a bit of a giveaway.

    Is the "sign here for an application form" a way of dodging the cooling off period? EDIT: No it's because the application form will have different T&C as warned at the top. My, you have to read this small print carefully don't you.
    • Reaper
    • By Reaper 3rd Nov 04, 3:05 PM
    • 6,338 Posts
    • 4,627 Thanks
    Reaper
    • #4
    • 3rd Nov 04, 3:05 PM
    Re: (Don't) Get the Macs
    • #4
    • 3rd Nov 04, 3:05 PM
    The name? Ah - is it that you never actually say it is a credit card? So it could just be a loan you are applying for.
    • westernpromise
    • By westernpromise 3rd Nov 04, 3:12 PM
    • 4,263 Posts
    • 5,548 Thanks
    westernpromise
    • #5
    • 3rd Nov 04, 3:12 PM
    Re: (Don't) Get the Macs
    • #5
    • 3rd Nov 04, 3:12 PM
    ;D

    For example try as I might I can't see how anyone can qualify for the 0% balance transfer.
    That looked OK to me - balance transfers are not interest free, but the interest rate is 0%. No?
    • Reaper
    • By Reaper 3rd Nov 04, 3:36 PM
    • 6,338 Posts
    • 4,627 Thanks
    Reaper
    • #6
    • 3rd Nov 04, 3:36 PM
    Re: (Don't) Get the Macs
    • #6
    • 3rd Nov 04, 3:36 PM
    I was thinking the second canceled out the first, but yes it just means the period between the transfer and the statement/payment date. So I think you are right. It includes purchases though, as per LLoyds Advance.
    • westernpromise
    • By westernpromise 3rd Nov 04, 3:42 PM
    • 4,263 Posts
    • 5,548 Thanks
    westernpromise
    • #7
    • 3rd Nov 04, 3:42 PM
    Re: (Don't) Get the Macs
    • #7
    • 3rd Nov 04, 3:42 PM
    I also notice there is no charge specified for the texting of the photo. Could be 10 or anything at all.

    Another one is that the annual spend of 1000 must in effect be spent in the second six months. That's 170 a month, so with no interest-free period, you're looking at 20% or so for 2 months each time - i.e. about 6 a month.

    Add on the minimum payment and it's clear that you will never pay 5. The minimum is going to be at least 11.

    Is the value of the points scheme spelt out anywhere?
    • bethyblue612
    • By bethyblue612 3rd Nov 04, 3:52 PM
    • 143 Posts
    • 23 Thanks
    bethyblue612
    • #8
    • 3rd Nov 04, 3:52 PM
    Re: (Don't) Get the Macs
    • #8
    • 3rd Nov 04, 3:52 PM
    MACS - Mugs And Card Sharks ??
    • robbies_gal
    • By robbies_gal 3rd Nov 04, 6:57 PM
    • 7,674 Posts
    • 151,466 Thanks
    robbies_gal
    • #9
    • 3rd Nov 04, 6:57 PM
    Re: (Don't) Get the Macs
    • #9
    • 3rd Nov 04, 6:57 PM
    no interest free period?

    minimum spend of a 1000 pounds
  • The_Bhoy
    Re: (Don't) Get the Macs
    Macs = Scam backwards...
    • Martinslovechild
    • By Martinslovechild 3rd Nov 04, 7:19 PM
    • 1,543 Posts
    • 1,641 Thanks
    Martinslovechild
    Re: (Don't) Get the Macs
    Macs = Scam backwards...
    Well Done Bhoy!!!

    Now - why didn't I think of that...??
    • Figment
    • By Figment 4th Nov 04, 10:44 AM
    • 2,604 Posts
    • 1,203 Thanks
    Figment
    Re: (Don't) Get the Macs
    How do you get your photo on the card? Simple, after you've got the card, just send us a multi-media text message from your phone of the chosen photo and that's what you'll get.
    So, um, they're going to send me the card, then I'm going to send them the MMS with my photo, and it will miraculously appear on the card? Cool trick :

    • MSE Martin
    • By MSE Martin 4th Nov 04, 12:17 PM
    • 8,111 Posts
    • 42,248 Thanks
    MSE Martin
    Re: (Don't) Get the Macs
    Oops Emdee - that's me - on the real leaflet there was a piccie explanation of the photo process i devised. So when i put it on the site i just noted something down quickly - i shall go and amend :
    • hopefulfooluk
    • By hopefulfooluk 4th Nov 04, 6:50 PM
    • 2,389 Posts
    • 1,975 Thanks
    hopefulfooluk
    Re: (Don't) Get the Macs
    The minimum payment was actually the LOWER of 2% or 5 - so it would take you even longer to pay off.
    • philhuff
    • By philhuff 4th Nov 04, 7:36 PM
    • 277 Posts
    • 133 Thanks
    philhuff
    Re: (Don't) Get the Macs
    I feel the program failed to get over the problems with this card. On the face of it, 13.9% APR, 6 months interest free BT's, no annual fee etc., aren't bad. Nothing special, but certainly not in the rip-off area.

    It's only really when you get to the small print that the problems all become clear, and that's something that didn't come across too well in the show.

    The card personalisation would sell well, however, but I personally wouldn't pay any extra for it.

    Mind you, I did laugh out loud when the girl explained that 'you get 12 MACS points for each 1, where as other card companies only give you 1 piont'. Brilliant.
  • deemy2004
    Re: (Don't) Get the Macs
    Would I get a higher limit if I applied for their Big MAC ? !;D

    6 months 0% introductory, whats bad about that ?

    Does not matter what it says elsewhere as you are in the introductory period and thus would have 6 months interest free from account opening. Any messing about and its off to the ombundsman !or Directory General of the BBC

    The 5 minimum payment is great for stoozing

    You deal with the 30 fee by putting the account into credit by 1k AFTER you 6 months at 0%, and then spendign the 1k over the following couple of months - net cost in lost interest being about 10-16 so you save 14-20 on the annual cost.

  • alanjarrett
    Re: (Don't) Get the Macs
    Lots of high charges for cash abroad etc and I went around in circles for ages trying to decide if BTs were free or not (with 50 or so other 0% cards to choose why bother worrying - don't bother with this one).

    I also would not go for any card with an annual fee potential, also not worth the worry.

    My main concern was the passing mention of card protection - no mention of what that cost is and no way of opting out, so you can bet it will be sky high and an industry 'best'.
    • Figment
    • By Figment 5th Nov 04, 1:42 AM
    • 2,604 Posts
    • 1,203 Thanks
    Figment
    Re: (Don't) Get the Macs
    Oops Emdee - that's me - on the real leaflet there was a piccie explanation of the photo process i devised. !So when i put it on the site i just noted something down quickly - i shall go and amend !:
    Tsk, what are you like.

    Off to fill in the application now you've cleared that up - I expect a decent credit limit :
    • Martinslovechild
    • By Martinslovechild 5th Nov 04, 1:55 AM
    • 1,543 Posts
    • 1,641 Thanks
    Martinslovechild
    Re: (Don't) Get the Macs
    Foreign Exchange Commission 2..75%

    If you ask me, a commission of between 2% and 75% looks a bit dodge!!
    • Ferris
    • By Ferris 5th Nov 04, 5:05 PM
    • 465 Posts
    • 116 Thanks
    Ferris
    Re: (Don't) Get the Macs
    Macs = Scam backwards...
    although, to be fair, i did sign up for a cashback mobile phone deal with a company called "SCANCOM", which is only one letter swap away from being both a SCAM and a CON...

    (they are a very reliable company actually)
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