Written on: 27/04/2004 by zaparcade (1 review written)
Good interest rates, attractive website, good internet banking interface.
Unco-operative, high bank charges, faceless customer contact.
I had been banking with smile for 3 years - mostly because I found their internet banking facility convenient to use. Whilst banking with them they continually increased my credit card limit without my consent until I had a borrowing limit in excess of £12000! They also sent me numerous unsolicited offers in the post for loans which I had apparently already been authorised for - all I had to do was sign on the dotted line and the money was mine. However, a few months later when I applied for a modest loan with them which I did want, they point blank refused. This was at a time when my bank account had been continually in credit during the previous 6 months and I had never ever been outside my agreed borrowing limits with them. I thought there must be a mistake, so I asked them to review my application, but again they refused with no further explanation.
I firmly believe that the reason they refused to give me a loan when I requested one was because at that time I had very nearly paid my credit card balance off, and they simply wanted me to use my credit card instead of taking out a loan (thereby making more money). I have since secured credit for the loan elsewhere with no problem, whereas Smile were completely uncooperative and totally unhelpful. I would never had expected such behaviour from my own bank, whom I felt I had been loyal to and built up a rapport with. My advice is to steer clear!