Credit Card Interest Rises Gone Too Far - will they reduce?

the_insider

John1993 wrote: »

Paying back what you owe is not "being nice", it's your legal and moral obligation.

And we don't all live in mansions. I, for example, live in a flat.

I live in a two up two down. It's lovely. And I didn't get in to loads of debt to buy it. Must be my massive bankers bonus I guess!:rotfl:

gb12345

MIDLANDER wrote: »

I actually didnt ask - while going through a bad time - Llloyds upped by credit limit from £1300 to £13000. A rediculous amount for someone on my income.

Did Lloyds force you to spend that extra £11,000 they gave you?

MIDLANDER

gb12345 wrote: »

Did Lloyds force you to spend that extra £11,000 they gave you?

No, and no-one forced my neighbour to cross the road when she got hit by a bus - but people do mad things when their minds are pre-occupied. I wouldn't pop round and insult her and tell her to offer to pay for the damage to the bus

I look forward to the abuse i will receive when i get to my next thread "irresponsible lending" :rotfl:

"After Lloyds TSB lent £100,000 to a couple earning £5,000 a year, regulators are taking a fresh look at the lending criteria. Emma Simon reports


Regulators are to investigate whether there is evidence of irresponsible lending in the UK banking industry. They want to discover if it is common for lenders knowingly to offer credit to customers who will struggle to meet the repayments.


If regulators do uncover a systematic problem, customers who have been encouraged to borrow beyond their means could see their debts wiped out."

MIDLANDER

Just wrote a letter to OPUS. Will await their reposponse before contacting other lenders. Will give me an idea what to expect.

For the gunuine non troll type MSE'ers - i will update.

BugsyBrowne

MIDLANDER wrote: »

Just wrote a letter to OPUS. Will await their reposponse before contacting other lenders. Will give me an idea what to expect.

For the gunuine non troll type MSE'ers - i will update.

Every poster that's posted on this thread certainty are not Trolls mate.

gb12345

MIDLANDER wrote: »

"After Lloyds TSB lent £100,000 to a couple earning £5,000 a year, regulators are taking a fresh look at the lending criteria. Emma Simon reports

Wow, you've managed to find an 8 year old article to quote to back yourself up.

MIDLANDER wrote: »

If regulators do uncover a systematic problem, customers who have been encouraged to borrow beyond their means could see their debts wiped out."

Since there was no widescale wiping out of debts, it would appear that the regulators found no systematic problem.

Your irresponsible lending is in fact irresponsible borrowing - as I said before you didn't have to spend the money, but chose to.

I get the impression that you're one of those pathetic individuals that wants the nanny state to look after you. Do you want the Gov to tell you when you can take a crap and perhaps wipe your bum for you afterwards?

opinions4u

MIDLANDER wrote: »

Have you read their replies? Opinins4u gets off insulting people.

I've done a copy and paste of my contribution to the thread below. Please feel free to highlight where I've insulted anybody.

I think you're a bit over-sensitive dear.

You do realise that you have the right to refuse the rate rise if you cease to use the credit card?

If you can't work this into your "priorities" then it's your own fault.

It sounds like you've missed the opportunity to cap your costs and better control your spending.

Redefine your priorities in the way you propose and any positives on your credit file will soon be a thing of the past.

So why haven't you rejected the rate rises?

Quote:
Originally Posted by MIDLANDER
Good payer, NEVER late , NEVER overlimit - no risk
Seriously. A guy with unsecured debts on three credit cards is not in a "no risk" category.

Quote:
banker sat in office overlooking the minnows of London says - "told you he was a risk".
They really don't care enough about you you to give you that level of individual attention.

Quote:
So if you know how banks operate on this - im happy to hear it. Arn't they supposed to treat you fairly etc blah blah blah? Banking code/lending code may aswell be toilet paper.
If you start missing payments / underpaying they will sympathetically assess your income and expenditure, agree to reduced payments and possibly freeze interest and, rightly, record the fact you have an arrangement to pay with the credit reference agencies.

I'm not telling you what you should or shouldn't do. But you've certainly had numerous chances to cap your interest costs.

Because they wrote to you saying "we're increasing your rate. If you don't like this contact us and we won't" and you didn't do anything.

MIDLANDER

gb12345 wrote: »

Your irresponsible lending is in fact irresponsible borrowing - as I said before you didn't have to spend the money, but chose to.

I get the impression that you're one of those pathetic individuals that wants the nanny state to look after you. Do you want the Gov to tell you when you can take a crap and perhaps wipe your bum for you afterwards?

You see - yet another stupid comment "
I get the impression that you're one of those pathetic individuals that wants the nanny state to look after you" - when until now ive paid my way - so how did you work that out Einstein? 50 years of doing the right thing.

I'm just fed up of seeing others who don't. I'm thinking whats the point if its not appreciated by the banks ive been loyal to and paid ON TIME - and now they are taking the 'p' out of me!!!!

And didn't i , as a tax payer - bail out Lloyds TSB? What about how pathetic they were to get into trouble - with all their financial big shots and legal teams. They didn't mind begging me to help.

And if i came on here saying i lent a friend £10000 and they couldn't pay me back - you would attack me as the lender for being irresponsible and stupid.

This is money SAVING expert - you seem to have forgotton - i want to save money. People who support bankers should really me on a site for people who dont need to save money - money wasting expert.

MIDLANDER

Apparantley banks are not allowed to raise interest rates for bad payers.

So come on then you bankers on here - defend the fact people who pay on time get punished.

MIDLANDER

BugsyBrowne wrote: »

Every poster that's posted on this thread certainty are not Trolls mate.

"In Internet slang, a troll is a person who sows discord on the Internet by starting arguments or upsetting people"

"One who posts a deliberately provocative message to a newsgroup or message board with the intention of causing maximum disruption and argument"

EVERY person on here who as taken time out to have a go - instead of help - fits that discription.

Ive spend more time than defending myself than getting into to make a rational decision IF to change my priorities.

I mean - are people really that sad and pathetic that they have nothing else to do? Help with the QUESTION - or jog on!!!