Halifax Makes No Sense

Turning_into_scrooge

davidcampbell wrote:

partly to do with the cheq guarante facility scrooge. other than that i dont know enough to comment.



DC

David

thank you for your reply. I understand what your saying as most credit cards have a much less avail credit than £100 per cheque totalled up. Debt is still debt though really isnt it? :eek: I also agree with the other poster in that you are a mine of info I for one would like to thank you for that :A :T

bargains83

M_Thomson wrote:

There has been a few things you have written about things like credit scoring and about charge reversing procedures that I have seen you write that I know if my bank had found out I had written it would be at least grounds for a disciplinary. Please don't think I am being rude I am just giving advice thats all.

I have seen most of his posts and I also don't feel he has disclosed anything he shouldn't. Most banks will tell any customer if they ask them the grounds for an application being declined and what they can do to help them get what they want (as abbey did for me when I was declined a full debit card).

I think he has said that he has the ability to reverse bank charges on customer accounts, but he also said a supervisor would have to give clearance on that first.

I see nothing wrong with this as its more or less factual information. Now if he was going into an individual case and saying how much someone was charged and how often they were charged or an individuals credit score then yes that would certainly be grounds for disciplinary action but Im sure he has no intention of doing this and I for one think what he has said in the past has been very helpful and informative.

moggins

Oh dear, didn't want to start a fight, just to ponder the madness of banking

bargains83

Turning_into_scrooge wrote:

David

thank you for your reply. I understand what your saying as most credit cards have a much less avail credit than £100 per cheque totalled up. Debt is still debt though really isnt it? :eek: I also agree with the other poster in that you are a mine of info I for one would like to thank you for that :A :T

To be honest the more i've thought about this, the more it makes sense.

I don't think a bank would see issuing a cheque book of say 30 cheques and £100 cheque guarantee card as lending someone £3000.

Lets be honest. If you did do the dirty and wrote 30 cheques out for £100 all in one go the bank would easily realise what you were doing quite quickly and could revoke the card from someone engaging in such a practice. Also lets remember that a cheque card is only any use in shops that take cheques. You can't use it on cheques sent through the post or to pay a bill. Its shops only.

There is another factor, in the sense that full VISA cards and Switch cards can be used in manual card readers (the ones which take impressions and aren't verified) where as Solo and Electron cannot. There are still a fair few of these in use and these allow the ability to basically spend to infinity because your account isn't checked for available funds.

IMO getting a full debit card shows that the bank has trust and faith in you to manage your finances well.

bargains83

moggins wrote:

Oh dear, didn't want to start a fight, just to ponder the madness of banking

Don't worry its not a fight, just a healthy factual debate

Turning_into_scrooge

Bargains83

I have to say that my son was recently given a current account at he halifax with a debit card. He has no income or credit rating as such, he is a student . He was also told the computer had qualified him for a visa credit card and a bank over draft of at least £700. He has no part time job, so no wages going into the account . I cannot understand the sense in banks :mad: . Someone who has learnt the hard way unfort. to control debt and is capable of budgeting who asks for a debit card is refused when someone like my son who has never had to manage money before so really doesnt know about budgeting etc. is given practically a golden ticket to spend . I am pleased to say that my son refused the credit card and the bank overdraft and also the loan they tried to sell him! :T

davidcampbell

dont worry moggins. and ive just realised it looks like i ignored your query.... i didnt, i just dont know an awful lot about credit card acceptance and i answered the part of the thread that i could. thought i had stated to that effect but seems not. sorry, no offence intended.

There has been a few things you have written about things like credit scoring and about charge reversing procedures that I have seen you write that I know if my bank had found out I had written it would be at least grounds for a disciplinary. Please don't think I am being rude I am just giving advice thats all.

hello again M T ... or can i call you M? ...

erm, youve got me a bit worried. as i say i dont think ive disclosed anything i shouldnt have but im gonna look thro my posts and check. im always careful about this sort of thing though, and im sure im ok.

thanks for the concern though. appreciate it.

DC

Turning_into_scrooge

davidcampbell wrote:

hello again M T ... or can i call you M? ...

erm, youve got me a bit worried. as i say i dont think ive disclosed anything i shouldnt have but im gonna look thro my posts and check. im always careful about this sort of thing though, and im sure im ok.

thanks for the concern though. appreciate it.

DC

If you are at all worried then i would change screen names to make yourself totally anonymous. I wouldn't like anyone to get into trouble but especially not someone who has helped others from the inside so to speak

davidcampbell

yeah ive reread every one of my posts since joining and i dont see anything that i wouldnt have happily disclosed to a customer. so im ok

as i say though M appreciate you mentioning it and no offence taken. thanks

DC

MarkyMarkD

bargains83 wrote:

There is another factor, in the sense that full VISA cards and Switch cards can be used in manual card readers (the ones which take impressions and aren't verified) where as Solo and Electron cannot. There are still a fair few of these in use and these allow the ability to basically spend to infinity because your account isn't checked for available funds.

There are VERY few of these machines in use. I haven't had a transaction processed by one in the last 3 years that I can recall.

Merchants using any sort of card reader (including mechanical ones) still have floor limits to comply with and will telephone manually for authorisation if these limits are exceeded. So a VISA card isn't a licence to print money in exactly the way you specify.

That said, I find it fairly strange that a bank would give a credit card and not give a current account, and it should be worth appealing the current account rejection (or, indeed, applying for a current account again, now that the card application has been accepted).