Had an offer through the mail for Halifax card...

in Credit cards
11 replies 1.7K views
chubstachubsta Forumite
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It seems so long ago now, but there was a time when almost every delivery of post brought a new offer of a credit card, but i haven't had one for a couple of years now, and then out of the blue this morning I get one from the Halifax!

Perhaps the recession is over and the banks are starting to go back to their old policy of irresponsible lending to the masses?!?

The credit limit was laughably low tho - £1300, considering my current card - Nationwide with a balance of £0 :D - has a limit of £13,500.

Anyone else starting to get new offers for cards...
Mortgage free!
Debt free!

Time poor...
«1

Replies

  • opinions4uopinions4u PPR
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    Perhaps the recession is over and the banks are starting to go back to their old policy of irresponsible lending to the masses?!?
    You consider yourself and irresponsible borrower?
    The credit limit was laughably low tho - £1300
    That will be the guaranteed limit. They might offer more once they've underwritten an application.
  • My hubby keeps getting them from Barclaycard

    Wouldn't mind but he is retired due to ill health, hasn't worked in 5 years and has no prospect of working and I support him!!!!
    Go hopefully into each new day, enjoy something from every day no matter how small, you never know when it will be your last
  • chanz4chanz4 Forumite
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    why would you want a £13,500 credit card? what if someone stole the details and run it up...
    Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.
  • GromittGromitt Forumite
    5.1K Posts
    chanz4 wrote: »
    why would you want a £13,500 credit card? what if someone stole the details and run it up...

    Exactly. I was offered 10K by my bank, I told them 3K is more than enough and don't offer me limit increases. They agreed and stated that 6 months after I had the card I could apply for an increase via OLB if I wanted it and was pre-approved for the original limit.
  • chexumchexum Forumite
    546 Posts
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    chanz4 wrote: »
    why would you want a £13,500 credit card? what if someone stole the details and run it up...

    The only purpose of such a limit is to wait for offers like the one from Halifax, 2.9% pa for N months with no fee :)

    Otherwise I would not want such a limit either, but I don't see the difference in:

    - what if someone stole the details and run it up...
    - what if someone stole the details and run it up then heap on overlimit charges...

    At least in the former case my credit file would in no way be affected even if I notice it more than a few days later...
    Enjoy the silence...
  • chubstachubsta Forumite
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    I consider such mail shots to be irresponsible lending because personally, I I want to borrow money, I look into the various options and make a reasoned decision, whereas as we have seen befor, many people who would not have otherwise considered more credit are often suckered in when it is basically thrust in their face!

    As for the 13grand credit limit I have, it was just what I was given and has come in handy, for instance a while back I bought a 2nd hand sports car on a whim on the card and often make purchases of a couple of thousand, it's convenient to just whip the card out, I don't keep much in my current account at all, just move it from a savings account to pay the credit card when I buy stuff.

    Funnily enough, my girlfriend also received a credit card off todày, looks like they are starting a big push in the new year.
    Mortgage free!
    Debt free!

    Time poor...
  • chubsta wrote: »
    I consider such mail shots to be irresponsible lending because personally, I I want to borrow money, I look into the various options and make a reasoned decision, whereas as we have seen befor, many people who would not have otherwise considered more credit are often suckered in when it is basically thrust in their face!

    Then the individual adult is irresponsible. If you received a letter suggesting you jump off a bridge ...
  • callum9999callum9999 Forumite
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    Are you sure it was guaranteed? I got a letter from them recently (also mentioning £1300 - but that was a "representative limit") with the same thing. The letter gives the impression you've been accepted but if you read the small print it says "subject to status" etc.

    Though I assume you have a current account with them? They seem to approve people based solely on their current account management so it could be the case you've been pre-approved.
  • GromittGromitt Forumite
    5.1K Posts
    I had one from Barclay card yesterday, saying "Due to your excellent current account management, we have pre-approved you for a Barclaycard Platinum.". I fed the letter to my shredder as I think I've got enough credit cards at the moment and still waiting for my AA card to arrive.

    The amusing thing is that I've not even used my Barclays current account in the last year, all I've done is use it for the co-op incentive.

    It's probably the banks fishing for people to do balance transfers for what they spent at xmas. My credit card debt at the moment is about £50 across 2 different cards, so no BT offer is going to interest me :)
  • pqrdefpqrdef Forumite
    4.6K Posts
    Ocean Finance ads are here again, so I guess the old days are back. Well nothing much has changed, except the BoE is now lending at the same silly rates as the Fed.

    Osborne and Surmerv will be happy. Cameron, no economist, will be horrified, but he'll have to curb his natural instincts. Roll on the debt-fuelled boom.
    "It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis
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