MSE Leaders' Debate: Credit Cards

BugsyBrowne

PROLIANT wrote: »

What did they do pre-1998? Oh yes thats right, the bank manager sat you down and worked out your affordability and looked at your current account activity and pay slips etc.

Payslips would never work..

PROLIANT

star-fire wrote: »

Payslips would never work..

BugsyBrowne

Can't see banks bringing that in,would have to be on credit scores only..
Say someone earns £800 a week for the next 6 weeks take his payslips in the bank,and then fails to pay his credit cards..so basically they have scored him with his wage slip but what about his miss payments..
But what about if someone who pays on time every month who works in a supermarket part-time how would she score on her wage slip,not that good..so would they then turn her down..
I have been self-employed for a few years,i struggle to get some credit cards but when times are good,i earn a lot more money then my mates who work 9-5,but if a credit lender now asked me for wage slips i would have to tell them i have only done about a weeks work in 6 weeks,just think it would not work..

harmony13

Have the new rules, for the credit card companies to pay off the more exspensive debt first, come into effect yet? Or is it still 'on the cards'(no pun intended)