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What's so bad about "Rate for Risk"?
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I agree, Nick. I'm surprised that one or two posters on this thread are so relaxed about this development. Credit cards have always been issued subject to status, but this rate-for-risk policy, as currently practiced by Barclaycard, Capital One and Citi, takes things to a new level. The advantage to the lender is obvious. Their market-leading deals are heavily advertised to draw in new customers. If this results in a flood of applications, even though they're dishing out something less attractive to large numbers of applicants, they're laughing.
In more than a decade of card shuffling, I personally have not been treated to rate-for-risk (yet) but, judging from posts to this board, there's a lot of it about now and I can well understand why its victims feel aggrieved. Many suspect that there was never any real intention to issue the advertised card, although there's no doubt some applicants get the flagship deal. I can only assume that those that insist this doesn't matter (because it's all covered in the Ts & Cs), are among them.
thanks for bringing this up - I'm a shuffler rather than applier but it is an alarming thought - probably not new as an idea but there' seems to be a fresh application of cunning marketing going on....For what I've done...I start again...And whatever pain may come ...Today this ends... I'm forgiving what I've done -AF since June 20070 -
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dont mention Man Ure we'll have Jonesy in here smiling like a cheshire cat mumbling to himself about how superior they[MU] are lol
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YorkshireBoy wrote: »I agree. I spent so long reading one card's T&C's I felt I'd been at it ad infinitum. Thank heavens I adopted the caveat emptor approach. I'm only glad I didn't take a more ad hoc view of them.
Nil desperandum, YB. Martin nititur in adversum
People who don't know their rights, don't actually have those rights.0 -
YorkshireBoy wrote: »I agree. I spent so long reading one card's T&C's I felt I'd been at it ad infinitum. Thank heavens I adopted the caveat emptor approach. I'm only glad I didn't take a more ad hoc view of them.
post hoc, ergo propter hoc is the best I can do I'm afraid
very good , though!For what I've done...I start again...And whatever pain may come ...Today this ends... I'm forgiving what I've done -AF since June 20070 -
I think Ad Hoc is the extent of my Latin I'm afraid, but if you get a Rump steak instead of a sirloin steak then it is better than SFA.post hoc, ergo propter hoc is the best I can do I'm afraid
very good , though! Since when has the world of computer software design been about what people want? This is a simple question of evolution. The day is quickly coming when every knee will bow down to a silicon fist, and you will all beg your binary gods for mercy.0 -
The advantage to the lender is obvious. Their market-leading deals are heavily advertised to draw in new customers. If this results in a flood of applications, even though they're dishing out something less attractive to large numbers of applicants, they're laughing.
Another very good point in my opinion. I didn't think of that.You're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.0 -
Another very good point in my opinion. I didn't think of that.
Many suspect that there was never any real intention to issue the advertised card, although there's no doubt some applicants get the flagship deal.
This thread, one of many on the subject, has just resurfaced.
http://forums.moneysavingexpert.com/showthread.html?t=987709People who don't know their rights, don't actually have those rights.0 -
Aren't two thirds of people supposed to receive the head line rate?0
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A_fiend_for_life wrote: »Aren't two thirds of people supposed to receive the head line rate?
Probably... but how would this ever be enforced?You're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.0
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