Abbey--No more increases to credit limits

chuckley

pauli wrote: »

So do I now - I certainly didn't when I got knocked back twice for interest free cards and twice for consolidation loans in the last few weeks, but now I can see that I would only have got myself into a bigger hole in the long run so the banks have done me a big favour in a way - it's tough but i'm just going to have to cut down and pay back!:eek:

i spose its a way of them teaching us... like to spend only what u have. i myself have had to cut down due to starting a new job and have to wait 4 weeks till payday. its made me realise how much i used to waste daily on lunches.

but good luck with reducing your debt

Dylanwing

before this 'reclaim bank charges' kicked in, people could obtain credit from EVERYWHERE, no problems. now even the simple of accounts, like nationwide flex acc's, are hard to obtain... why? as so many folk are reclaiming charges on faults of their own. so banks are shelling out for their customers mistakes... and are now fighting back...

So why did they not defend the claims? Does that indicate that Banks might actually have been doing something unlwaful? The Banks are not shelling out for 'customer mistakes', they are shelling out because they don't have the confidence to defend their actions. If they have been acting unlawfully, would that not justify customers reclaiming what has been taken wrongly?
And reclaiming has nothing to do with the unavailability of credit, that is the 'Credit Crunch'. You know, where US Banks packaged up a pile of worthless sub-prime mortgage debt, and the UK Banks bought it - And the Banks were so careful that they still don't really have a clue what they have actually bought, so have no idea of their exposure!

PBA

To correct the OP, you don't know what you're talking about. Abbey don't do increases on credit card limits at the moment, this has been the same since they started doing credit cards and will change at some point. Increases to overdraft limits can still be done, I've certainly done several this week and even had my personal limit increased a couple weeks ago. If yours can't be increased it means you don't have enough going through your account monthly to justify it, I'm getting fed up with people trying to use credit crunch as an excuse when really they're being turned down because they don't deserve more credit.

cashprincezac

PBA wrote: »

To correct the OP, you don't know what you're talking about. Abbey don't do increases on credit card limits at the moment, this has been the same since they started doing credit cards and will change at some point. Increases to overdraft limits can still be done, I've certainly done several this week and even had my personal limit increased a couple weeks ago. If yours can't be increased it means you don't have enough going through your account monthly to justify it, I'm getting fed up with people trying to use credit crunch as an excuse when really they're being turned down because they don't deserve more credit.

Actually they have previously done credit increases so not sure where you get your "facts" from....The other half works for them and so I know what I am talking about. Clearly you need to get a correct update from your manager as it appears different workers for the Abbey have different views on this

chuckley

Dylanwing wrote: »

So why did they not defend the claims? Does that indicate that Banks might actually have been doing something unlwaful? The Banks are not shelling out for 'customer mistakes', they are shelling out because they don't have the confidence to defend their actions. If they have been acting unlawfully, would that not justify customers reclaiming what has been taken wrongly?
And reclaiming has nothing to do with the unavailability of credit, that is the 'Credit Crunch'. You know, where US Banks packaged up a pile of worthless sub-prime mortgage debt, and the UK Banks bought it - And the Banks were so careful that they still don't really have a clue what they have actually bought, so have no idea of their exposure!

i dont think banks are unlawful. they give credit to people who apply and state xyz terms of the deal... customer decides to overspend or not pay ontime, so incur charges...

people then find out they can claim back all charges... basically can cash in on their own mistakes. some use this as their 'get out free' tool for running up credit.

have u ever found CC companies to ever charge you when u pay ontime and pay the full amount? NO. so how are they being unlawful when u dont agree to the deal u signed for?

the Credit crunch comes inline with people claiming back... before people started reclaiming, people didnt have problems obtaining credit... it all goes hand in hand.

Dylanwing

Chuckley - Try looking at contract law and you might understand. Basically, if exceeding a limit is classed as breach of contract, the Bank can only cover costs, not charge a penalty - But until they reveal the actual costs (Estimated at less than £2), nobody can tell if they are acting unlawfully. Also, as the T&C's are not individually negotiated, they probably are classed as unfair in law. That's a very brief outline, and I'll happily be corrected as I'm no great expert.
Nobody objects to covering costs incurred by Banks, personally, I have no objection if they take a reasonable fee on top (Say £5), but as my personal experience proved, fees are disproportionate. Try reading some of the horror stories, and how it has wrecked lives, you might just understand better.
Also, do a bit of research on the credit crunch before making incorrect assumptions, the problems go far deeper than Bank charges which are small change compared to the US Sub-Prime crisis. It also goes back to reckless lending policies by... The Banks. The credit crunch also co-incided with Bristol Citys promotion to the Championship - Should we be relegated?:eek:
Not looking forward to Bristol City v Sunderland in Dubai - The pre-match drinking will be pretty rubbish!!!!:beer:

UK007BullDog

Just would like to point out that on 0% cards you still have to pay back the minimum every month, which means one is paying back the money every month. But one is just not paying any interest which menas one pays back the credit card loan quicker.

jonesMUFCforever

Not looking forward to Bristol City v Sunderland in Dubai - The pre-match drinking will be pretty rubbish!!!!:beer:


Don't worry too much only Premiership teams will be eligible :rotfl: :T :rotfl:

Spark

PBA said :
To correct the OP, you don't know what you're talking about. Abbey don't do increases on credit card limits at the moment, this has been the same since they started doing credit cards and will change at some point.

I did try twice to lower my credit limit on my Abbey credit card, and was told twice that they could not increase or decrease the credit limit on Abbey CC.

Actually they have previously done credit increases so not sure where you get your "facts" from....The other half works for them and so I know what I am talking about. Clearly you need to get a correct update from your manager as it appears different workers for the Abbey have different views on this

neverdespairgirl

Dylanwing wrote: »

So why did they not defend the claims? Does that indicate that Banks might actually have been doing something unlwaful

They are defending the claims - that's what the current case in the High Court is all about.