Banks not advertising credit card offers anymore?

callum9999

dr_adidas01 said:

Alex9384 said:

cymruchris said:

Because it'll only apply to a certain tranche of customers (which you may be in the fortunate position to be included in) - and put the backs up of the other half that don't qualify. It'll lead to a string of complaints from those that didn't get the 'advertised offer'. Whereas if they tailor their offer to their judgement of your circumstances - and just offer a rate accordingly - as you don't know what the 'best available' is, you're more likely to accept if you think the offer is reasonable and not kick up a fuss. (The majority of credit card applicants are not part of the MSE community - and are likely not as focused on the best deals as some of us here are)

They could also say 'our credit card may offer free use of a Bentley between the hours of three and four pm on a Friday' but as they only have one Bentley, and one time slot, only one person would get it. What is a simple solution for you - isn't really the blanket solution for everyone. (And yes the example there is silly and extreme - and no card would offer such a deal I know) - but moving forwards I do think more and more providers will adopt the model of offering a product that matches you based on their risk assessment rather than 'Our best deal is X that you might get - but might not'. 

Yes, but if you come to a car dealer's showroom, wouldn't you like to see all models and all options for each model?
Or would you like to be first asked how much money do you have and then be told "OK, so you can only afford this and this engine, we won't show you any other car and we won't tell you what other engines are on offer" in the model we're offering you. Is this how it should work?

This is rubbish as most dealers don’t have every model with every optional extra available, simply because it would be very costly and not profitable for to them to do it. They usually have a base model and then explain what options are available and do factor in what a customer can afford. 

Comparing credit cards to Car models is totally irrelevant as they are 2 completely different products with no similarity between them. 

I can’t remember the last time I took my car out of my pocket and went to pay with it at the supermarket. Nor can I remember using my credit card to start my car and drive it. 😉

Lots of people will prefer to have card and loan offers tailored to their individual financial circumstances so they can make an informed choice, rather than get generic offers that nearly half of applicants will not get. 

Eligibility checkers are here to stay, so you’re gonna have to get used to having to use them before being offered a product. 

I've never come across a person express that they wish they weren't allowed to see what credit cards a bank offers - perhaps a couple exist, but it's an incredibly bizarre opinion to hold. I'm now less likely to get a Lloyds/Halifax credit card as a direct result of this - though I'm unprofitable so I can't say that they'll remotely care!

They must have a reason (perhaps the "sunk cost" fallacy helps them out - "well I've already completed most of the application, I might as well finish it"?), but it doesn't stop it being annoying. If it becomes the norm and I'm forced to complete 20 different applications just to see what cards are in the market, it will be infuriating!