DISPATCHES - Christmas credit crisis! (credit card charges etc)

A_little_stressed!!

Any1 else watching this? Alot about how stores are misselling store cards etc.
One thing that worries me is the credit card charges (£20) they talked about when you don't use your credit card for 6 months, or don't spend £500 in 6 months.
How do I find out if mine have these charges? I don't have the paperwork.

Between me & OH we have
Natwest (classic?) credit card. Balance £0
MBNA/ Sonycard I'm in credit of £34
Ted Baker store card. In credit £7
Barclaycard Platinum credit card. Bal £0
And 2 Halifax One cards, one 0% till 2009
£300
The other just used rarely and payed in full each month.

Many thanx anyone who knows about these cards.

Zebedee69

A load of old waddle mate........

Misselling of store cards has been going on for yonks! Basically in true C4 style they have thrown together a program because of the current credit crunch and churned out a load of info we allready know in order to create a stir and get people watching.

Typical C4

PS: Very much doubt you have been charged anything once you havent gone over your limit....... Your doing great with those cards! Are you a stoozer? You should if you aint because you would make a nice bit o cash (-:

caveman38

Saw the programme and I am as alarmed as you. They created their own card to try on the public and used T&C's that they said existed on most CC's. One of these was as you said a fine of £20 if you dont spend on your card in the first 3/6 months.
Obviously it suggested it was a ploy to dter people from using a CC for a BT only. I would also like to know if these T&C's exist on current CC's

Mozette

They did say that they used the worst of the conditions that existed. I've got 6 credit cards, and none of them do that. I am the only person who does actually read the T&C then??? Surely not... Still, I usually apply for a card at the footy for a free hat or scarf and make up the details. No freebies, no application!

YorkshireBoy

caveman38 wrote: »

Obviously it suggested it was a ploy to dter people from using a CC for a BT only. I would also like to know if these T&C's exist on current CC's

Variation on a theme:

For Platinum and Advance MasterCard you must spend a minimum of £100 in the first 3 months to get the first 12 months introductory balance transfer offer. If purchases are less than £100 in the first 3 months the introductory offer is for 3 months from when the account was opened.

http://www.lloydstsb.com/credit_card_app/balance_transfer_important_info.asp?WT.svl=CARDINFObt3

Forget to make a purchase, or fail to read the T&C's, and your 0% BT becomes a 16.9% BT in month 4.

Always read the small print.

Dylanwing

Missed the target. The Stores caught red-handed gave bland statements that were not challenged or re-tested at other stores. Selling of cards at shopping malls/ footie grounds will continue, will involve bad selling, and Banks were not challenged about the responsibilty of this type of marketing. The 3 credit applicants hardly threw up a surprise and if anything, proved that Companies have tightened up. Even the 'poor OAP' hardly looked to be living in poverty. The girl who paid mortgage on credit cards came across as stupid, rather than let down by the Banks.
So, in conclusion, the British Public are financially illiterate, smart salesmen can sell anything, few people wade through the T&C's, shop assistants don't have a clue what they are really selling, the BBA is smug, arrogant and self-satisfied and Banks make a lot of money.
Mozette - Disgraceful - I didn't get my Bristol City cap by doing that!.... Well, not exactly!

harlech28

I have just watched,like I am sure lots of other people have the dispatches programme on channel 4,and I thought I was aware of all the tricks of the C/C companies but the £20 charge for not spending on a card for 3/6 months is a new one on me:mad: :mad: :mad: .I was aware of low useage fees but was not aware of a 3-6 month limit.Why I find myself asking has :money: not covered the issue to my knowledge in one of his newsletters as surely avoiding this charge should be a priority for moneysavers and if :money: has done a piece on this issue,I appologise,but now would seem a good time to repeat it ,along with precise details of which companies following this policy.

Awaiting article.;)

A_little_stressed!! wrote: »

Any1 else watching this? Alot about how stores are misselling store cards etc.
One thing that worries me is the credit card charges (£20) they talked about when you don't use your credit card for 6 months, or don't spend £500 in 6 months.
How do I find out if mine have these charges? I don't have the paperwork.

Between me & OH we have
Natwest (classic?) credit card. Balance £0
MBNA/ Sonycard I'm in credit of £34
Ted Baker store card. In credit £7
Barclaycard Platinum credit card. Bal £0
And 2 Halifax One cards, one 0% till 2009
£300
The other just used rarely and payed in full each month.

Many thanx anyone who knows about these cards.

YorkshireBoy

harlech28 wrote: »

...the £20 charge for not spending on a card for 3/6 months is a new one on me:mad: :mad: :mad: .I was aware of low useage fees but was not aware of a 3-6 month limit.

Wasn't it LTSB (again) who were charging 'dormancy' fees 12-18 months ago. Also, MBNA also charged for accounts left in credit for any length of time I believe.

rsykes2000

harlech28 wrote: »

I have just watched,like I am sure lots of other people have the dispatches programme on channel 4,and I thought I was aware of all the tricks of the C/C companies but the £20 charge for not spending on a card for 3/6 months is a new one on me:mad: :mad: :mad: .I was aware of low useage fees but was not aware of a 3-6 month limit.Why I find myself asking has :money: not covered the issue to my knowledge in one of his newsletters as surely avoiding this charge should be a priority for moneysavers and if :money: has done a piece on this issue,I appologise,but now would seem a good time to repeat it ,along with precise details of which companies following this policy.

Awaiting article.;)

Martin is a busy man and isn't there to hold the hand of people who don't read the T&Cs that come with the cards they apply for.

A_little_stressed!!

Dylanwing wrote: »

Missed the target. The Stores caught red-handed gave bland statements that were not challenged or re-tested at other stores. Selling of cards at shopping malls/ footie grounds will continue, will involve bad selling, and Banks were not challenged about the responsibilty of this type of marketing. The 3 credit applicants hardly threw up a surprise and if anything, proved that Companies have tightened up. Even the 'poor OAP' hardly looked to be living in poverty. The girl who paid mortgage on credit cards came across as stupid, rather than let down by the Banks.
So, in conclusion, the British Public are financially illiterate, smart salesmen can sell anything, few people wade through the T&C's,
shop assistants don't have a clue what they are really selling,
the BBA is smug, arrogant and self-satisfied and Banks make a lot of money.
Mozette - Disgraceful - I didn't get my Bristol City cap by doing that!.... Well, not exactly!

I would like to disagree with this, I am a shop assistant and I know exactly what I am selling, the fees/charges etc. And that the application affects the shoppers credit rating etc, and when I can I try to tell the and warn them about keeping up to date etc.

Then again, many staff that have been there years do not have a clue & I had to explain why the customers store card could not be paid off with a CC!:eek:
AND quickly stepped in when they suggested that the customer went to a cash point with the CC to get cash out to come back and pay :eek: :eek: I told them that they would be charged at cashpoint & have a higher interest rate on the borrowed!

Maybe I'm just one in a million!:A