Alliance & Leicester - How dare they!

Calchas

MarkyMarkD wrote: »

Frankly, they'll read it and think "what a muppet".

I wouldn't presume to know what they may think. They may not have even seen the muppets.

How do you know that they know what a muppet is? Surely it is not possible that all of the staff at the Alliance & Leicester have had dealings with you MarkyMarkD

msmicawber

MarkyMarkD wrote: »

Frankly, they'll read it and think "what a muppet".

You must have a very interesting/exciting job not to relish a communication from a customer that's a bit of fun.

What's with so many MSE posters at the moment - so bloody precious and prim?

BLUEWKD

Gret letter. Alliance & Leicester have stung me for hundeds of pounds for bank charges (yes I know I shouldn't have gone overdrawn in first place) and so you are probably better off not being in them anyway.

I reckon the customer service staff found it funny anyway. :j

kavomix

with regards to the letter, your will get either two kinds of response from the person opening it

person 1) They will laugh and agree with you because they hate the company they work for
person 2) They will think your a sad retard with no life and will tell their work mates about it, and share the letter with them

I personally love the letter you sent, although it won't really bother the little guy that much. Would be so much better if it went to one of the directors

Calchas

msmicawber wrote: »

What's with so many MSE posters at the moment - so bloody precious and prim?

For credit crisis msmicawber, read humour crisis!

Rafter

Calchas,

I think you have answered your own question!

Banks no longer approve applications purely on the basis of credit worthiness.

They also model how profitable you are going to be to them.

If you apply asking for payment protection on a loan for example, or if they can see a modest overdraft and a few late payments they will lap you up because they can smell the juicy fees they can earn from you.

On the other hand if you are squeaky clean you stand out as someone who is going to 'game' their juicy intro offer but not be a loyal customer. They will therefore reject you as being 'unprofitable' not necessarily 'uncreditworthy'

R.

PBA

Rafter wrote: »

Banks no longer approve applications purely on the basis of credit worthiness.

As a matter of interest which bank do you work as an underwriter for? Or are you making this up?

Stephen_Leak

PBA wrote: »

As a matter of interest which bank do you work as an underwriter for? Or are you making this up?

Read "The Money Diet".

Rafter

PBA wrote: »

As a matter of interest which bank do you work as an underwriter for? Or are you making this up?

I used to work for a credit card company.

I have also been an active member of this site and read the personal finance pages of the newspapers for the last 20 years.

As such I know that banks 'score' their customers based on profitability, likelyhood of borrowing, loyalty etc and tailor their offering accordingly.

I also know that often the deals at the top of the best buy tables often lose money initially buy rely on customer inertia.

I also know that if the deals attract a disproportionate number of gamers or moneysavers they are never likely to make money and banks have been stung by this behaviour. So they are now more selective about which customers they accept, not just based on credit worthiness as in the good old days, but also likelyhood that they will be profitable.

As evidence, just go over to the loans board to see the number of top credit worthy customers getting rejected for best buy loans. How can a bank make a profit on an unsecured loan offered at less than mortgage rates if they don't just accept those customers who go for the rip-off PPI? The rate on the loan is just a ploy to get lots of applications so they can be selective about who they accept.

R.

Calchas

kavomix wrote: »

Would be so much better if it went to one of the directors

It wouldn't surprise me if the banks kept a regular check on forums such as these. Bearing in mind the emphasis put on image these days, it is a free way of finding out what people think about them or a particular product they have introduced into the market place.

I am not suggesting the directors read it but I would guess the information finds itself a fair way up the ladder.