Credit Card Query...

[kit_kat]

I was offered a credit card from my bank the other day - I didn't really need it but the offer seemed very good, so I applied and was accepted. I was emailed on the 18th and told the card would be with me in 10 working days. Great!

However today I receive a letter stating 'your account no longer meets our lending criteria, so we have decided to close it'. The letter is dated the same day as the email and I haven't received any documents (or card) yet. Why would they do this and is it going to affect my credit score?

[AAT1981]

kit_kat said:

I was offered a credit card from my bank the other day - I didn't really need it but the offer seemed very good, so I applied and was accepted. I was emailed on the 18th and told the card would be with me in 10 working days. Great!

However today I receive a letter stating 'your account no longer meets our lending criteria, so we have decided to close it'. The letter is dated the same day as the email and I haven't received any documents (or card) yet. Why would they do this and is it going to affect my credit score?

Must of been those wkers at Barclays then, they did that to me a few weeks ago....

Halifax also pissed me off this week, have a 5500 limit and they slashed it to 550, without writing to me, i felt like a tit when trying to pay for something.

Would not mind, my credit score/rating/files are fine and give a good score, are these a bunch of morons, I have never missed, defaulted and they treat people like crap.

[RenOh]

This is rather like how my credit card kept upping my credit limit, despite me having asked them to keep it at a certain level.

Has anyone here had experience with one of those temporary credit cards? (I want to purchase jeans online Those ones that you pay money into without having to have a 'real' credit card?

Edited by RenOh on Friday 4th February 12:36

Edited by RenOh on Friday 31st January 13:46

Edited by RenOh on Friday 31st January 13:53

Edited by RenOh on Friday 31st January 13:53

[T5R+]

RenOh said:

Has anyone here had experience with one of those temporary creidt cards? That you pay money into and can purchase online etc. without having to have a 'real' credit card?

Think you refer to a pre-pay card? If so, you can purchase online (eg MasterCard/VISA) and load with funds and then use in stores that accept MC/VISA.

Use them regularly when travelling abroad, avoids currency fluctuations (as loaded at spot-rate) and you can reload from a UK bank account as long as have access to the internet.

Similar items are available for sterling. Parents buy them for example offspring. Essentially, they load the card and give to child to use as if they are a credit card.

Many can be used at cashtills (generally pay a nominal fee) to draw out cash.

Think their use will increase as we enter a period of limited growth within our economy.

I also know about contactless cards/technology

[kit_kat]

AAT1981 said:

kit_kat said:

I was offered a credit card from my bank the other day - I didn't really need it but the offer seemed very good, so I applied and was accepted. I was emailed on the 18th and told the card would be with me in 10 working days. Great!

However today I receive a letter stating 'your account no longer meets our lending criteria, so we have decided to close it'. The letter is dated the same day as the email and I haven't received any documents (or card) yet. Why would they do this and is it going to affect my credit score?

Must of been those wkers at Barclays then, they did that to me a few weeks ago....

Halifax also pissed me off this week, have a 5500 limit and they slashed it to 550, without writing to me, i felt like a tit when trying to pay for something.

Would not mind, my credit score/rating/files are fine and give a good score, are these a bunch of morons, I have never missed, defaulted and they treat people like crap.

How did you guess?! I spoke to a lady at some far far away call centre and she informed me that 'it was just coincidence they cancelled the card the same day it was authorised' something to do with different departments. Anyway it has shown up as a search on my credit file but won't affect my rating.

[rog007]

Unfortunately, this type of mass marketing to see who bites the bait then deciding afterwards if indeed they do like the cut of your jib or not is all too common. If you're unhappy with this state of affairs then it might be worth raising the issue via a formal complaint to the bank, and if not satisfactorily resolved, take it to the Financial Ombudsman Service. Unless people voice their concerns more often, the banks will continue with these practices...