Twits

Generali

It's automated. When a bank sends you a letter it's rarely a compliment or an insult, merely that month's computer progam has meant you get letter 42X (interest increase 100bp) rather than letter 42Y (interest increase 150bps).

ruggedtoast

Good grief, a McTavish post I actually thanked because I agree with the sentiment.

Wookster

HAMISH_MCTAVISH wrote: »

I'm not sure why this annoys me so much, but it does. That they waste their efforts trying to lend money to people who clearly don't need or want to borrow, and yet take our taxpayer funded bailouts and refuse to lend to people that actually would borrow and boost the wider economy.

Actually, I wonder if raising limits for people that would never use them en-masse is somehow scammed into the lending targets they're failing to meet?

You don't understand how banks work. They will lend money when you don't need it, and not lend money when you do need it.

They call it pricing in risk.

Running_Horse

Just phone up to cancel the card.

My wife did it, and you would be amazed at the offers and incentives they offered to stick with a card that never gets used.

There is no such thing as rewarding customer loyalty these days.

DervProf

Wookster wrote: »

You don't understand how banks work. They will lend money when you don't need it, and not lend money when you do need it.

They call it pricing in risk.

Aka lending you the Umbrella when the sun is shining, but when it starts raining........

Sibley

I had something stupid at my UK bank last week.

First they sent me a letter saying that my overdraft had been cut. I rang up and asked why????

They told me it was because I do not get my salary paid in anymore but if I wanted it reinstated I only had to apply?????

I don't really use it but you never know and as I'm abroad I would prefer to have it to be honest so I went online and re-applied. I got it instantly?????

Next the credit card side of same bank rang me and offered 0% balance transfer until 2013 :rotfl:

I went up the builders and organised a lot of work done on my house here. Paid with another credit card and swopped the balance to the 0% this week.

Weird bank.

lemonjelly

HAMISH_MCTAVISH wrote: »

I have a credit card I use for work and travel expenses, and pay off in full every month.

Got a letter from my bank last week, raising the interest. (which is of no concern, as I never pay any)

Got another letter from my bank this week raising the limit. (which is pointless, as I never go anywhere near the current limit, let alone the new one)

What on earth are they thinking???

I'm not sure why this annoys me so much, but it does. That they waste their efforts trying to lend money to people who clearly don't need or want to borrow, and yet take our taxpayer funded bailouts and refuse to lend to people that actually would borrow and boost the wider economy.

Actually, I wonder if raising limits for people that would never use them en-masse is somehow scammed into the lending targets they're failing to meet?

:mad:

Is this an example of waste and inefficiency in the private sector?

I thought that didn't happen...:cool:

quantic

Similar thing happened to me, Barclays suddenly offered me double my overdraft. Didn't even apply for.

Batchy

I didnt think they could increase limits etc, without the customer asking first!????

Percy1983

I too have a credit limit of £12.5k on a card for no reason, but in my case they reduced my interest rate too.

Oddly if I add up alll my available credit I could borrow more than a years salary, no I won't do that, but why give me the chance?