Should DD Be Compulsary on CC's

paulq

Do you think the CCC's deliberatly not make Direct Debits compulsary on Credit Card Agreements, to make a little extra on peoples misfortune?

On any standard Loan you take out with any financial institution. It's setup automatically. I ask this as i see alot of people on these boards, stating they have missed their payments, asking for refunds stating it's not their fault etc.
This is an entrapment by the CC knowing people will miss payments, due to being absent minded, putting off bill payments etc. Ok you sign the T&C's to say its your responsibility to manage your account, but surely the lender has a certain respnsibility to make it as easy as possible for customers to make their payments?

Views:D

CannyJock

They do make it easy to pay by offering a range of payment methods, direct debt being one. With Egg, having an active DD is part of their T&C's, but for the rest I can think on it's not compulsory and there's no conspiracy behind it not being compulsory.

I'm 100% in favour of DD's but there are a few, NickX being a fellow stoozer is one, who prefer to control these things themselves - partly because their finances are a bit complex so the card payment won't be coming from the same account each month.

It's not entrapment. If you're big enough and clever enough to apply for the card, big enough and clever enough to use the card to buy something, then you're big enough and clever enough to make sure you make arrangements to pay it if you ask me.

RobertoMoir

paulq wrote: »

Do you think the CCC's deliberatly not make Direct Debits compulsary on Credit Card Agreements, to make a little extra on peoples misfortune?

On any standard Loan you take out with any financial institution. It's setup automatically. I ask this as i see alot of people on these boards, stating they have missed their payments, asking for refunds stating it's not their fault etc.
This is an entrapment by the CC knowing people will miss payments, due to being absent minded, putting off bill payments etc. Ok you sign the T&C's to say its your responsibility to manage your account, but surely the lender has a certain respnsibility to make it as easy as possible for customers to make their payments?

Views:D

If DDs were compulsory then we'd doubtless have threads from people claiming it was all a big conspiracy to get fees from them because their finances were complex and they didn't always have the required funds cleared into their account on DD day.

I realise this is a radical suggestion but I'm going to go ahead and suggest that if someone is old enough and clever enough to apply for a credit card they should be old enough and clever enough to take responsibility for their own actions and make arrangements to pay - including making use of the option to set up a DD if that is their preferred method.

DGJsaver

paulq wrote: »

Do you think the CCC's deliberatly not make Direct Debits compulsary on Credit Card Agreements, to make a little extra on peoples misfortune?

On any standard Loan you take out with any financial institution. It's setup automatically. I ask this as i see alot of people on these boards, stating they have missed their payments, asking for refunds stating it's not their fault etc.
This is an entrapment by the CC knowing people will miss payments, due to being absent minded, putting off bill payments etc. Ok you sign the T&C's to say its your responsibility to manage your account, but surely the lender has a certain respnsibility to make it as easy as possible for customers to make their payments?

Views:D

Entrapment ? due to being `absent minded ` and `putting off bill payments` :rotfl:
You make me almost feel sorry for the banks:eek:

dblue75

You take a card ? you pay it...

Don't pay it.....pay the consequences...you were quick enough to use it in the 1st place...most likely knowing that you had little or no intention of paying it off.

Then expect everyone to feel sorry for you in the 1st place..pi$$es me off..

I've got cards and pay them... Yes we all go through difficult times. But there is a big blame culture here on the lenders.

IF YOU CAN'T AFFORD IT....THEN PLEASE DO NOT BORROW.:mad:

TFD_2

I'm sure Labour would have made DD's compulsory at some point. After so many years in power, people are actually thinking that stuff like this needs to be forced on us! We're individuals, we can make our own choices, some good, some bad!

I pay some cards by DD, some not. But I'm organised enough to not miss payments. People who may forget should get a DD, but if not, they just need to take responsibility and deal with the consequences if they forget.

paulq

dblue75 wrote: »

You take a card ? you pay it...

Don't pay it.....pay the consequences...you were quick enough to use it in the 1st place...most likely knowing that you had little or no intention of paying it off.

Then expect everyone to feel sorry for you in the 1st place..pi$$es me off..

I've got cards and pay them... Yes we all go through difficult times. But there is a big blame culture here on the lenders.

IF YOU CAN'T AFFORD IT....THEN PLEASE DO NOT BORROW.:mad:

I think alot of people see it as "Free cash" not realising how much they can afford to pay back. So they just max their limit, then complain when they see they are not paying any capital off when they get their bills.

It really does come down to education. If consumers had a better understanding of what they were doing maybe they would be reluctant to go on spending spree's

jonesMUFCforever

Compulsory D/D s will not help anyone. The ones who forget to pay by other means will probably not have monies in their accounts!
Or the other excuse will be the nasty banks let the bad ole credit card company take their money early LOL (They never take it late do they).

TFD_2

paulq wrote: »

I think alot of people see it as "Free cash" not realising how much they can afford to pay back. So they just max their limit, then complain when they see they are not paying any capital off when they get their bills.

It really does come down to education. If consumers had a better understanding of what they were doing maybe they would be reluctant to go on spending spree's

Is it education, or just the attitude of people not to try to understand the implication of their actions? Or that they think it doesn't matter if they get in over their heads, as the law is on their side rather than the lenders. Grrrr.

chattychappy

Absolutely NOT.

Why should my obtaining a credit card be conditional on my giving access to my bank account via a DD ?

I have never signed a DD. I resent the way it is becoming increasingly difficult to avoid them - but accept that service providers are free to insist on them or charge extra if you pay by other methods.

I also accept that some people choose to setup DDs and find it works well for them. Great.

IF you really wanted to make an argument I'd say ban DDs. That way people would be forced to look at their statements each month (or at least the balance) and make a positive act of paying it. Perhaps that way they'd be more in touch with their finances. Incidentally that's the REAL reason why some service providers (mobile phone companies etc) charge more for non-DD payers - a manual payment doesn't really cost £3 to process or whatever - it's because these customers churn more.

But of course, a ban on DDs would be unfair on the many people that are in touch with their finances, check their statements etc and just choose to pay this way.

So no bans please. No more nannying.

If you think the penalties are unreasonable for missing a payment then that's another issue - and that is the issue you should be addressing.

CannyJock

TFD wrote: »

Is it education, or just the attitude of people not to try to understand the implication of their actions? Or that they think it doesn't matter if they get in over their heads, as the law is on their side rather than the lenders. Grrrr.

Mostly education. The sad part of that is that there will always be a percentage of the population with no interest in learning.

They're easy to spot though, you can hear them in the pub saying:
"That money stuff is boring."
"I don't have time for all that messing about."
"Yeah, easy for you to say - money goes to money."

Add that to an "I want" society that see the bling and don't understand that these things have to be paid for, and you've got a bit of a recipe for disaster .... but don't worry, there's all these adverts on Sky that inform you to use government legislation to write off all your debts, using one of those IVA things ...