Banking advice wanted please?

Aura · Post by **Aura** » Fri Aug 27, 2010 11:48 am

I have borderline learning difficulties and I went to my Santandar bank and they said they had a message on their system to see an advisor. I was told that it showed on my file that I bought things like books off the internet using my debit Visa card. That they advised me to go for a Santandar zero credit card which I was a bit worried about as you hear so many horror stories of people being in debt.

I was told that If I used my debit card fraudsters might get hold of my details and steal my money and it would take age's to get back. As with this card I would be covered.

Stupidly I have applied for it and I am a bit worried I have done the wrong thing. Can you please advise me if I have done the right thing. if not, should I give it back? I am on benefits which doesn't help. Many thanks.

Snowfire · Post by **Snowfire** » Fri Aug 27, 2010 11:59 am

Being on benefits would worry me and I'm a little suprised the bank were kind enough to persuade you to have a credit card. It is the cheapest way of "borrowing" money. You have to decide whether you can meet the monthly payments on the card. Its zero percent providing you pay the monthly bill on time.

You have to be really careful and keep to a reasonable budget. If you cant guarantee that, just tear the card up and buy your stuff as you can afford them

Aura · Post by **Aura** » Fri Aug 27, 2010 12:29 pm

I don't feel happy about this card so I am going to show my support/careers officer on Tuesday so I am not touching it until then.

Snowfire · Post by **Snowfire** » Fri Aug 27, 2010 12:33 pm

If your not confident with it then thats fine. Just get the scissors out and cut it up

binbag · Post by **binbag** » Fri Aug 27, 2010 3:52 pm

Aura, The Spanish bank, Santander have a very poor reputation in the UK for extremely poor customer services.

The Spanish customers apparently are happy with the bank's service, but UK customer's have been complaining for some months now.

I would strongly suggest that if it's at all possible, go to someone you trust and get an independent second opinion regarding your new card service with Santander.

Here's just two examples from Google.

20 Apr 2009 ... The Spanish bank Santander shot to stardom in the UK when it acquired the ... But banks have a poor reputation as asset managers with many ...

FTAdviser.com -

21 Aug 2010 ... Spanish bank under fire: Santander, the pits for customer service ... On Santander it said: 'While it may have a reputation for great service in Spain, ... Santander under fire for poor service...

JEFF PRESTRIDGE: Wake-up call for Santander siesta service

Best wishes.

fuzzywuzzy · Post by **fuzzywuzzy** » Fri Aug 27, 2010 4:30 pm

Can't help here I've never owned a credit card

Bez · Post by **Bez** » Sat Aug 28, 2010 2:02 am

They may be advising credit card use for internet transactions as you have more protection when/if things go wrong. I personally NEVER use my debit card on-line.

I have no experience with Santander and prefer to use one of the main High Street Banks.

You do have to be very disciplined with a credit card particularly if you are on a tight budget.

Aura · Post by **Aura** » Sat Aug 28, 2010 2:14 am

This is the confusing thing which has got me worried. I do use my debit card to get things off the internet. I am now worried that someone will get hold of my details and then the bank won't bother to help me get my money back.

gmc · Post by **gmc** » Mon Aug 30, 2010 2:49 am

You're safer using a credit card on line than a debit card - you have the consumer credit act on your side if your get faulty goods. someone can as easily pinch the details for a credit card as for a debit card the difference the money isn't coming straight out your bank account as it does with a debit card and you then have to persuade the bank you didn't actually make the purchase meanwhile with no money in your account. If it is a credit card it's their problem and they have to prove it was actually you that bought the stuff before they can make you pay for it.

You can set the credit limit in your card, keep it low, so that if anyone does get your details they can't steal very much and make sure you pay it off each month.

.

Aura · Post by **Aura** » Mon Aug 30, 2010 11:47 am

I have been told about Prepaid cards where you put money from your account onto a card to get things off the internet. The best one I have been told about is one called CashPlus, link is Cashplus Prepaid Card – the prepaid credit card alternative with no credit checks | Cashplus

or http://www.prepaid365.com/cashplus-prepaid-card.html

It offers payment protection. Can you tell me which is the best prepaid card to get? Many thanks.

Post by **Bryn Mawr** » Mon Aug 30, 2010 1:18 pm

The only way I'd get a credit card is if the bank was prepared to set up a direct debit to clear the entire balance from my current account just before the due date.

Many banks are happy to do this and it guarantees that you will never pay interest charges and allows you to take advantage of the credit protection act on all of your purchases. You are still responsible for making sure that the amount you've spent is less than the amount in your current account but that's always the case.

I've never tried a pre-paid card because I do not like paying away my money before I've bought the goods. They're certainly a good way of giving the kids an allowance whilst guaranteeing they cannot go overdrawn and would certainly make sure that there was a cap to the amount you could loose if your details are stolen but, personally, I've never had a problem with using my debit card. Those few tomes it's been abused I've reported the problem to the bank and they've charged it back as fraudulent meaning that I get my money back.

Aura · Post by **Aura** » Tue Aug 31, 2010 2:58 am

Yeah but Santandar have a bad reputation.