4.9% balance transfer for life of loan (Morgan Stanley Dean Witter)

Member Name: mateypeeps

Product:	Morgan Stanley Dean Witter
Date:	21/02/02 (596 review reads)
Rating:

Advantages: cheaper borrowing than personal loans, cheaper than adding to mortgages

Disadvantages: Best not to use the card for purchases as well.

MSDW as I abbreviate it to were one of the unfortunates in the September 11 outrage, yet despite that they have carried on providing an excellent service to customers.

I used to be a member taking advantage of their 1.9% balance transfer rate a year ago, but when that ended, I cancelled.

Now I have applied again, this time on the Internet, the first time I have trusted this medium for such an important function. This is after talking to an MSDW call centre operative, who was as pleasant and helpful as I have become used to expecting from this organisation. A credit to the group. He said that the telephone department responsible for taking telephone applications was only open to 2100 and as it was getting late, I asked if the Internet was another method of applying, and he gave me the address as http://www.morganstanley.com/cards.

On logging into this late at night, I found that it was immediately redirected to http://www.msdwcard.co.uk/uk/data/index.html
where there is/was a banner on the right stating the 4.9 percent fixed for the life of your balance transfer.

There is a gold and a platinum card image, with “Apply Now” under both. You have to look at the link for details of each before finding out what the difference is.

It all boils down to the Platinum being a higher APR (interest rate) when paying for purchase over a period, and having a 1 percent cash back.

The gold has no cash back but the APR is lower for purchases.

Any road up (as we say Oop North) who cares, as I am advising you all not to use the card for anything else than transferring your other more expensive credit card overdrafts to this card.

When selecting the Gold card to apply for, you are taken to page that asks if you have lived in more than one address in the last 3 years.

If yes click that option or leave it pre-filled in with a dot in the NO option.

Either way you are taken to
page1 of a SEVEN-page form to fill in when you click on “proceed”.


The first page asks for name, age date of birth, marital status, home address and telephone/mobile number and email address.

The second asks for Flat, House Name, House No., Street, District, Town, County, Postcode, Time at present address? Residential Status.


The third page asks for Employment Status, (Select Employed Self Employed Temping Unemployed Homemaker Retired Student), Employer's Name, Building Name, Number, Street Name, District, Town, County, Postcode
Business Phone, telephone STD number, Occupation, Time in Present Employment.


The fourth page asks for information on Total Individual Annual Income, Spouse/Partner Annual Income, Monthly Rent/Mortgage, Outstanding Mortgage, Value of Property, Monthly Outgoings (loans, hire purchase, etc.), Visa Card? MasterCard? Diners Card? American Express Card? Storecard? Bank / Building Society Name, Sort Code and Account Number, and finally Time with Bank / Building Society.

The fifth page asks for Password, Payment Protection Plan,
(at just 71p per month for each £100 of outstanding balance), Card Protection Plan? In addition, when would you like your statement to be produced each month?
1st - 10th, 11th - 20th, 21st - 31st . There is a warning that it can take up to 7 days to arrive.

The sixth page asks for balance transfer information, the amount you can transfer will depend on your Credit Limit. Up to 4 cards can be filled in on the form. Any more and you will have to apply to transfer more once you are accepted. Offer ends 01/04/02. Please note that the minimum Balance Transfer amount is £250 and that Balance Transfers must be made in accounts held in your name.

He seventh page is just the Submit Application page where you can cancel if you change your mind, submit, or go back to a previous screen if you want to change something. <
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Interestingly enough (if finance can ever be said to be such) if you mess up the name, or some other section, so that it takes you to a page with what is wrong mentioned, there are NO previous or back buttons, and when using the browser back button you are told to refresh. When you refresh you are then asked for retry or cancel, and clicking retry takes you back to a credit card screen that has no mention of the 4.9% offer.

Which makes me wonder if by getting lost you may end up applying for a card with NO ability to transfer balances at 4.9%. So be warned, take care when filling it in to avoid missing any fields or putting in wrong data. If you do get to page 6, the balance transfer screen, it will mention the 4.9% if you are OK. If not, abandon the attempt and try again.

After succesful submission they send the documents in the post that to be signed (as required by law), and returned in the prepaid envelope provided.

You might find the telephone application easier to handle if you prefer feedback immediately from a human. I was given 0800 028 0838 by the gentleman on the helpline.

The automated telephone helpline is 0800 02088 990. If you want to speak to a human, DO NOT PRESS 1 after it answers. The instructions say what to do. Note that this is intended for the customers of MSDW so only use it if you have problems with the 0800 028 0838.

I was not accepted due to the number of other credit cards I have, which is their right as a lender. I am not unduly upset however, especially as I have accepted an offer from the American Express for exactly the same 4.9% for life balance transfer offer !!!!

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