Twits

DervProf

Percy1983 wrote: »

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?

I believe this practice is called "dangling the carrot".

Percy1983

I guess so, I did chase the carrot for while in my younger days, but saw the error in my ways before it caused any damage. But the carrot just kept moving, said £12.5k card started at £1.4k many years ago.

doire_2

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:

Stop your moaning. If it pis.ses you off so much then complain to your bank.

If the FSA pis.ses you off so much then write a letter to them. Not that it will get you anywhere