Is it me, or are credit card companies sexist?

Lois_Lane

Thanks all for your replies.

I have checked our credit files, and there isn't any reason for them to think I'm more of a risk than my husband - I make sure the payments are made for both our cards, and have direct debits set up to pay the minimum payment and a standing order to pay more. Therefore I can only assume that the credit card companies do consider women more of a risk than men generally - which is sexist, but not illegal.

Some women are not very good at managing their finances, just as some men are more likely to make an insurance claim, but you can't tar everyone with the same brush - not all women are a risk where paying their debts are concerned, and not all men are bad drivers (and vice versa).

LL

Mrs_pbradley936

Lois_Lane wrote: »

I didn't say we have joint credit card accounts, but that I manage our joint finances. I never add an additional card holder, it reduces the options for transferring balances.

LL

I know you didn't I just put that in because few people know it and some are surprised by it. I did not know that having an additional holder could cause problems with transfers - thanks for that.

Mrs_pbradley936

Lois_Lane wrote: »

Thanks all for your replies.


Some women are not very good at managing their finances, just as some men are more likely to make an insurance claim, but you can't tar everyone with the same brush - not all women are a risk where paying their debts are concerned, and not all men are bad drivers (and vice versa).

LL

It is a legal requirement to have car insurance if you want to drive but it is not a legal requirement to have a credit card. Therefore you have a whole profession dedicated to assessing risk for insurance companies they are called actuaries and are the mathematicians of the finance world. If it became a legal requirement to have credit then they would take that on overnight. As it stands you get a better rate and a higher limit if they think you are a good payer and a higher rate and lower limit if they think you are likely to be not such a good payer. They can even refuse to give you a credit card at all.

Wyndham

Lois_Lane wrote: »

I didn't say we have joint credit card accounts, but that I manage our joint finances. I never add an additional card holder, it reduces the options for transferring balances.

LL

Actually, the secondary card holder is not deemed to have an account with the company, so you could have a card from company X with your significant other as a secondary card holder, and they could also have a card from compnay X with you as a secondary card holder. I know it sounds odd, I was a bit surprised, but it's advice I got on here from people I respect about a year ago....

Lois_Lane

Wyndham wrote: »

Actually, the secondary card holder is not deemed to have an account with the company, so you could have a card from company X with your significant other as a secondary card holder, and they could also have a card from compnay X with you as a secondary card holder. I know it sounds odd, I was a bit surprised, but it's advice I got on here from people I respect about a year ago....

I never knew that... thanks.

LL

thumshie

A few other things it may be:

a)Your profession. While you earn more, your job can be deemed less secure. Pretty certain 'professional sports player' rings bells due to injuries. Is your profession more risky?
b)Is most of the debt already in your name?? CC companies now have to be 'responsible', so if your DH outstanding balances is half your outstanding balances it may make a difference.
c)Available credit. Associated with point b) If your credit limits added together are more than your DH, it may explain it as the CC company will say you already have access to so much credit.

Just some other reasons why...

Lois_Lane

thumshie wrote: »

A few other things it may be:

a)Your profession. While you earn more, your job can be deemed less secure. Pretty certain 'professional sports player' rings bells due to injuries. Is your profession more risky?
b)Is most of the debt already in your name?? CC companies now have to be 'responsible', so if your DH outstanding balances is half your outstanding balances it may make a difference.
c)Available credit. Associated with point b) If your credit limits added together are more than your DH, it may explain it as the CC company will say you already have access to so much credit.

Just some other reasons why...

Thanks Thumshie

I'm not a professional sport player and I don't consider my job to be any more risky than my husband's - he has been employed longer than me, but I've got 4.5 years service with my current employer.

As a result of the credit card companies favouring my husband, his outstanding balances and total credit limits are much higher than mine - probably twice as much!

LL