to expect the greedy bar stewards at Marks and Spencer not to fleece me for every penny they can

[nametaken]

Last month I spent a couple of hundred quid at Marks and when I got to the till the woman asked me if I wanted a chargecard so I got one. The APR is 26% and she credit checked me there and then and gave me the card.

Last week I saw M and S were offering a 0% balance transfer for 10 months credit card so I applied for that and got turned down.

I am so pissed off. Why is it OK for me to have a card that charges 26% interest but I can't have the 0% one?

Am I missing something or are they fleecing me?

God why would you take a card with 26%APR in the first place??
Dispose of it immediately woman!

caveat empor!no one compelled you to take the card or sign up for extortionate rate.amazed you signed up in first place

How in God's name can anyone charge 26% interest when bank of england interest rates are 1%

why the hell would anyone accept a card with 26% interest???
I get a 0% every year, just change it yearly.

mosschops, that's what I'm trying to do. Do you find it helps.

Did you get the store card so you got 10% off your purchase, then cut it up?

well you were daft enough to sign up!they will sell any ole rate they think they can get away with. and obviously consumers like you do sign up

get shot of it way too pricey

Yes, I know it's all my own fault blah blah blah, but can anyone answer my original question.

everyone knows store cards are extortionate

you should have checked hte small print.

if you pay off the balance in full you don;t pay the interest

blah blah read the small print in yopur original card,cancel and apply for 0%

I did get it for the 10% discount but didn't cut it up used it again a few times. Is that what canny people do, use it once then cut it up. I must have not been listening when we had that lesson in school.

YABU in your expectations as they are in it for the profit, not your fiscal wellbeing

helps with what?
I refuse to pay interest on credit cards, just pay them off before the end of the year and then get another one. I find it a good way to manage the money

They probably have a different (much higher) required scoring for the 0% making it much harder to qualify for, whereas the one with the high interest rate will have a lower credit score requirement so most people would be able to get one.

Natwest did the same to me, they sent me the paperwork for a credit card which I didn't really want so didn't get, but when I applied online for a 0% one, they refused me (bastards)

you're not coming across as very financially astute.why don't you go google M&S store cards or read the small print instead of hoping someone here can sort it out for you

obviously the threshold for the 26% interest rate card is sign on the line here you go. where as the 0% card has a higher eligibility criteria

This isn't anything to do with the banana, is it?

As you were.

You heartless buggers.

I want sympathy.

how are you being fleeced? they offered you something you accepted.
you then applied for something and they said no.

two normal and completely isolated ioncidents.

why accept something if you don't like the terms?

Sorry but you're probably not going to get much sympathy. Particularly not in AIBU. Its quite standard for providers to have a number of cards or offers with different eligibility criteria - and will normally be far stricter for 0%. Charge cards are a massively expensive way to borrow but many people do. Can be worth it for a discount as long as you cut up immediately and can pay off straight away.

Yes I think I've learned my lesson. I've cut the card up now. Will just pay it off over the next 2 or 3 months.

it is possibly because your credit score decreases the more different credit cards, loans, mortgages etc etc you have. as you already have a credit card, your credit score may have been too low to be accepted for their 'premium' 0% interest one, which they probably only dish out to people with v v v little other credit??

Probably turned you down as you already have a card of some sort with them. 0% offers for opening a new account usually exclude existing customers.

Just phone them and close the account otherwise it'll count against you when it comes to opening another account.