Barclaycard Platinum Shocker

YorkshireBoy

daniel_9 wrote: »

One thing I would say is surely it depends not only on the level of Debt, but other factors (how much you earn, whether you pay your bills ontime, investments, equity etc) when the lender decides youre risk level?

The first two will be known to the lender (from your application details and CRA search). However, the lender has no way of knowing the value of your investments or indeed how much equity you have in your house (if that's what you meant).

Yes, of course you can appeal any decision made, but by then it will probably be too late for a lender such as Barclaycard, who appear to have really tightened up of late.

Somntimes things aren't as straight forward as they may seem.

But they are very much 'black and white' to a computer which, after all, makes the decision to withdraw facilities.

ravenk

It's going to be an interesting year.
Year 2007 - If they are warm offer them money.
Year 2008 - Good credit ratings only :-)

Someone will have to pay for the large write offs the Banks are going to have to make. Now who could that be ? Mmmmm....What are we charging those credit card borrowers who now look a risk ? Can they switch business to another lender?
In that case up the interest rates. Of course they can always pay off the loan.
Used to watch the Sweeny in the 70's ,where the villains robbed the Bank.
Sweeny 2008 - Banks do the robbery :rotfl:

MABLE

DGJsaver wrote: »

You are thoroughly unpleasent , scaremongering , with no more information given than a curt , spitefull one-liner , and from looking through your other posts it seems you cant help yourself

Explain your `likely candidate` remark , in depth and to the best of your knowledge

If you cant , its best when giving financial advice or opinion , that you know what you are talking about

Merry christmas....

Have we now finished throwing our toys out of the pram or are we going enjoy further ramplings from a misguided member of this board.

dmg24

DGJsaver,

daniel_9 understands that MABLE's comment was made without malice, so why not just let it rest?

SilverScooby

MABLE wrote: »

Have we now finished throwing our toys out of the pram or are we going enjoy further ramplings (sic) from a misguided member of this board.

He's not misguided at all. To give a few examples of your enlightened, kind, helpful postings:

"No doubt you are the one who called (sic) the problems in the first place by not keeping to the terms and conditions"

"How easy it is the blame the bank. You are the one who caused the problems in the first place"

"It would appear the OP makes a habit of not keeping within the terms and conditions."

"No doubt you had attitude when you phoned Barclaycard and got everthing you deserved. Will people like you never learn."

"If you behave like an idiot you must expect to be treated as such. I suggest you go away write your letter and grow up."

I wouldn't have thought “Please be nice to other MoneySavers” was a difficult concept to understand, but apparently so.

relay

I think he'd sooner be misguided than ignorant, judgemental & downright rude.

Dylanwing

Ravenk - Good post. Question about the bad debts. Do you refer to normal customers, caused by reckless lending by the Banks? Or do you mean losses because the Banks bought a pile of worthless junk debt from the USA? Not that it matters, the guilty get a bonus/ huge pay off, whilst the customer pays.;) Mind you, before long Mable will be getting the blame for the Credit Crunch as well!:rotfl:

p1an0player

daniel_9 wrote: »

Hi, so is this something Barclaycard can do to existing customers? I'm really worried now, I recently got my Barclaycard for the 14 month 0% BT Deal and moved accross some of my high interest debt (MBNA - closing next week ) and this will play a huge role in reducing my debt in 2008.

Can Barclays just devide that I "no longer meet their criteria" and close my account?.

I suspect that they can't do that in your case - they've agreed a balance transfer promotion with a specified interest rate for a specified term. To end it prematurely could be breach of contract.

Take care that you don't breach the contract yourself though by missing payments or going over the credit limit.

Primrose

Children, Children. No more fighting please ! I think the reality of this situation is that banks have been badly hit by Sub prime lending defaults (and that is their own fault, for you would have thought financial institutions should be more responsible about lending the money which is entrusted to them). Therefore they have to recoup their debts somehow, and having caught a bitter cold, they are now retrenching rapidly. Those unfortunate enough, either by bad planning, misfortune or mismanagement of their own finances to be heavily in debt are now the first who will be targetted. The only lesson to learn from all this is always to try and live within your financial limits, and if you can't afford it, don't get it until you've saved up for it.

relay

I thought it was because people were economical with the truth & had lied about thier income to get credit because they were all idiots? :rotfl: