probably silly question but here goes

time4help

am starting a dmp and looking to turn my life around.

i do wonder how some of these banks think though.

i have been in debt for 18 years and done nothing about it now i am, but looking back about 2/3 years ago i applied for a barclaycard , i was on about 20k a year with a mortgage and several debts totalling about 14k had some late payments and not the greatest credit history.

i was surprised they accepted but even more surprised when they informed me my limit was £12500 !!!!

i made the mistake on moving stuff on there but using the cleared cards .. never again but to this day i think how could they gove me such a large credit limit ??

dreamdreamer

A few years ago anyone could get anything. I had £16k of unsecured debt all accumulated as a full time student or an unemployed graduate! It's a bit harder now with the economic downturn.

DVardysShadow

5 years ago everyone had more credit available to them than was ever good for them. Not the case now, credit is hard to find and this will be the case for a few years. But when the good times return, everyone will be so used to credit being restricted that they will think that they cannot possibly come to harm from using all their credit when in fact again they have more than is ever good for them and it will all start again.

makemedebtfreeplease

DVardysShadow wrote: »

5 years ago everyone had more credit available to them than was ever good for them. Not the case now, credit is hard to find and this will be the case for a few years. But when the good times return, everyone will be so used to credit being restricted that they will think that they cannot possibly come to harm from using all their credit when in fact again they have more than is ever good for them and it will all start again.

I would hope none of us DFW will be racking up debt again though - I for one have learnt a very good, painful lesson!!!!