Irresponsible credit limit for teenager

shop-to-drop

You need to take responsibility for the fact that he got to 18 with no idea about how credit works, apart from how to obtain it that is.

_Andy_

flowerandpot wrote: »

My teenage son with a small part-time job was recently given a £3500 credit limit with 0% interest for 18 months, from NatWest. This is over 3 times what he earns in a year! He thought he only had to repay £5 per month and did not understand the concepts at all. I believe this is utterly irresponsible. Does anyone know whether he is obliged to repay the money?

No of course he isn't. He can simply phone up and say "I don't want to pay you all that money" and they'll go "great, no problems sir, just pay back, say a fiver and we'll call it quits"

DUH

Irresponsible? So the lazy tw*t not bothering to say, read a credit agreement wasn't responsible either then? Oh sorry of course he couldn't possible be to blame

pur-lease

_Andy_

Is your son able to use a calculator?
Here's a simple one for him. pop in the number 3500 and then divide (that the one with the '/' symbol if you're using the Windows calculator, then '5'.

_Andy_

Re-reading this, amusing as it all is, I'm actually 90% sure it's a troll. Not a bad effort

[Deleted User]

He would retire before he even pays of that amount of money at £5 per month!

Good lord - he'll have to get more work to start paying that all off.

I am assuming that he has spent it - did you not notice that he was spending way over his means?

Dxxx

[Deleted User]

_Andy_ wrote: »

Re-reading this, amusing as it all is, I'm actually 90% sure it's a troll. Not a bad effort

Hmmm yeah possible

Dxxx

wapow

Lol people telling it like it is! Nice!

Although i bet you all missed (sans one) that they just signed up. TROLL ALERT!

magpiecottage

I am not sure that the son has actually borrowed £3,500. The OP has only said it was irresponsible to give him such a high limit.

It does indeed seem a bit daft to do so - but that is not the same as saying he has used it.

opinions4u

I'd suggest that if this is a genuine thread, the limit has been based on an inflated income figure at the time of application.

Somebody telling porkies.

Gromitt

Single post, no replies, trolling? Seem to be a lot of them going around lately.

If its real, the '3' is probably a typo and they meant '£' - it is on the same key afterall.