We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Irresponsible lending
Options

Baldybear
Posts: 1,719 Forumite


Just a quick moan!
OH got a letter through from his credit card provider, Barclaycard, he currently owes around £1500 on it, been making min payments (as been concentrating on other higher interest debts). His current credit limit is £4,900 which is I believe too high but leaving it as it is.
So the letter received states they are raising his credit limit, he is going to call saying he doesnt want it, but whats the limit now, £7,900 :eek: Seriously they have just thrown another £3k at him just like that.
Talk about irresponsible lending, :mad: We are lucky in that we are responsible borrowers and are trying not to spend outside of our means and working hard to reduce debt but seriously if you were slightly blind/uneducated in these matters then you would think great what can I spend it on, £8K, imagine the holidays you could have :mad:
Then people wonder why these problems exist, people get into debt, its oh so easy :cool:
OH got a letter through from his credit card provider, Barclaycard, he currently owes around £1500 on it, been making min payments (as been concentrating on other higher interest debts). His current credit limit is £4,900 which is I believe too high but leaving it as it is.
So the letter received states they are raising his credit limit, he is going to call saying he doesnt want it, but whats the limit now, £7,900 :eek: Seriously they have just thrown another £3k at him just like that.
Talk about irresponsible lending, :mad: We are lucky in that we are responsible borrowers and are trying not to spend outside of our means and working hard to reduce debt but seriously if you were slightly blind/uneducated in these matters then you would think great what can I spend it on, £8K, imagine the holidays you could have :mad:
Then people wonder why these problems exist, people get into debt, its oh so easy :cool:
Debt 13-1-25 - £39K!!!
Mortgage 13-1-25 - £63K
Mt DFW Diary: https://forums.moneysavingexpert.com/discussion/6580353/at-an-all-time-low#latest
Mortgage 13-1-25 - £63K
Mt DFW Diary: https://forums.moneysavingexpert.com/discussion/6580353/at-an-all-time-low#latest
0
Comments
-
I don't feel its that irresponsible if your OP is paying the debt of, not missed a payment etc.
It would be irresponsible if he was maxed out, getting charged monthly etc etc.
And as you said, your Husband has his own mind and he should take responsibility for this and lower the limit.
Also, I fail to see how being slightly blind has anything to do with it?Don't trust a forum for advice. Get proper paid advice. Any advice given should always be checked0 -
I believe it is irresponsible lending on the part of Barclaycard, if the borrower (aka OH) or any other saw that and was not aware of the implications of paying it back with interest (my point of being slightly blind to the situation here, not blind as in real terms) then they could get into serious trouble.
Having a moan at the banks for being irresponsible lenders, why just give him an extra £3k just like that, it isnt asked for so why do it?Debt 13-1-25 - £39K!!!
Mortgage 13-1-25 - £63K
Mt DFW Diary: https://forums.moneysavingexpert.com/discussion/6580353/at-an-all-time-low#latest0 -
Well, they aren't exactly giving him 3k just the option of putting that amount extra on credit. I can understand your moan, but you'll never stop the banks trying to get money from their customers.
It's as important if not more to be a responsible borrower - read the small print, learn as much about finances and borrowing as possible and spend within your means. People should be aware of the implications of credit and borrowing money. All you can do is make sure you and your OH are as annoying as possible to them and pay them as little as you can in interest/charges/anything that makes them moneySavings target: £25000/£25000
:beer: :T
0 -
It is terrible, but we have to realise that they are a business trying to make money and we are the weak targets.
They are the enemy and thankfully us that have had our LBM's realise that, but there are lots out there, especially at this time of year that would happily dig their hole even deep and have a lavish Christmas and book a holiday with that. Maybe thinking "Barclaycard think I am capabloe of paying back " so thats ok :eek:
We know better:(:(. Although we have all learned the hard way.
Ring them up and put it down to as low as you can until you have paid the rest off NOW....before you are tempted:D
xxx0 -
Thanks Mildredalien for the reply, glad its not just me then
I like to annoy my bank by letting them have minimal interest and paying everyday so keeping them busyDebt 13-1-25 - £39K!!!
Mortgage 13-1-25 - £63K
Mt DFW Diary: https://forums.moneysavingexpert.com/discussion/6580353/at-an-all-time-low#latest0 -
I would use the extra on the card to perhaps shift some higher apr onto the barclaycard if they give you a good deal
Thanks
andyStart Oct 12 Debt: - £45.500 -
Debt Snowball [STRIKE]39[/STRIKE] - 37 Months - June 2016
PAD Challenge - Snowball Debts 1/11/12 - £269.150 -
They're not being irresponsible, nor are they giving your OH the money. They're giving him the option of further credit, a pre-approved loan.
You yourself have said that he's a responsible borrower (not using his credit limit at the moment, which they will of course know), so it's a non-issue. If you have cast iron proof that they've done the same thing for someone who is maxed out and never making payments then, yes, that would be irresponsible.0 -
Just a quick moan!
OH got a letter through from his credit card provider, Barclaycard, he currently owes around £1500 on it, been making min payments (as been concentrating on other higher interest debts). His current credit limit is £4,900 which is I believe too high but leaving it as it is.
So the letter received states they are raising his credit limit, he is going to call saying he doesnt want it, but whats the limit now, £7,900 :eek: Seriously they have just thrown another £3k at him just like that.
Talk about irresponsible lending, :mad: We are lucky in that we are responsible borrowers and are trying not to spend outside of our means and working hard to reduce debt but seriously if you were slightly blind/uneducated in these matters then you would think great what can I spend it on, £8K, imagine the holidays you could have :mad:
Then people wonder why these problems exist, people get into debt, its oh so easy :cool:
would you be able to use the £3K to clear a higher interest debt?0 -
thanks for your replies, we are thinkign fo doing a 0% balance transfer but can do that within his existing limit, just depends on charges.
My gripe is and this comment is for Mr Orchards post is that yes we are a responsible borrower but not everyone is they will pay min payment for years, imagine how long that will take for £7k? banks laughing all the way to the bank (pun intended!) and people are in a forever existing spiral of debt but if the banks were slightly more responsible and gave sensible lower limits then they wouldnt make their money as people would be forced to budget better and save more, actually I think I have answered my own rant here, why force people to be better budgeteers (is that a word) when the banks can throw money at some people and live happily of the profits of insane interest for years.
Debt 13-1-25 - £39K!!!
Mortgage 13-1-25 - £63K
Mt DFW Diary: https://forums.moneysavingexpert.com/discussion/6580353/at-an-all-time-low#latest0 -
Absolutely agree with you.
My own history before DFD (2010) was one of increased credit limits and me using them out of necessity, so i'm not a bank apologist, but in this case it really doesn't look irresponsible.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 350.9K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.9K Work, Benefits & Business
- 598.7K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards