Credit Crunch

macutmore

The long arm of the credit crunch.
Well the banks caused the bloody problem in the first place by giving any old Tom, !!!!!! or Harry who simply said they earned over £30,000 a year... 110% mortgages.
Now the banks have to be a bit more fussy it would seem!
Had a letter today from my bank about my ‘unused’ credit card. Well I did use it about a year or so ago (comes in handy for consumer protection etc). Now they are saying that because I haven’t used it recently they are CANCELLING it, because they believe that keeping an unused credit card account open may increase your exposure to the danger of it being used by someone else without your knowledge, and that as it is safer for me not to have it open they are closing the account!
Furthermore there is actually a credit balance on it of under a fiver, and that they are going to donate that to their charity of the year!!!
If I call them however on their virtually premium rate number, they will kindly send me a cheque for the amount instead!!!!! They claim their action will in NO WAY affect my credit rating, and that they of course, value the fact that I am their CUSTOMER!
WELL... I don’t see how an unused credit card is less safer than one that is used...? Surely one that is actually used is at a greater risk of fraudulent interception or means than one that is not even exposed to the market until it is needed.
Also I NEVER ever give to charities or chuggers anyway, and certainly NOT where DIRECTORS of the said charities are actually PAID more than £100,000pa salaries, let alone charities of SOMEONE ELSES YEAR!!!!
Also I envisage that losing this credit won’t actually do me ANY favours whatsoever, since if I want it back in any emergency, I would have to apply for it AGAIN in the middle of ...a credit crunch. – (sorry mate..we don’t hand out credit no more..)
NO WAY!!!!
I rang them on their 01 number and opted out of the cancellation.
Haven’t these bloody banks done enough damage yet????

Ivan_Konstantinov

macutmore wrote: »

The long arm of the credit crunch.
Well the banks caused the bloody problem in the first place by giving any old Tom, !!!!!! or Harry who simply said they earned over £30,000 a year... 110% mortgages.
Now the banks have to be a bit more fussy it would seem!
Had a letter today from my bank about my ‘unused’ credit card. Well I did use it about a year or so ago (comes in handy for consumer protection etc). Now they are saying that because I haven’t used it recently they are CANCELLING it, because they believe that keeping an unused credit card account open may increase your exposure to the danger of it being used by someone else without your knowledge, and that as it is safer for me not to have it open they are closing the account!
Furthermore there is actually a credit balance on it of under a fiver, and that they are going to donate that to their charity of the year!!!
If I call them however on their virtually premium rate number, they will kindly send me a cheque for the amount instead!!!!! They claim their action will in NO WAY affect my credit rating, and that they of course, value the fact that I am their CUSTOMER!
WELL... I don’t see how an unused credit card is less safer than one that is used...? Surely one that is actually used is at a greater risk of fraudulent interception or means than one that is not even exposed to the market until it is needed.
Also I NEVER ever give to charities or chuggers anyway, and certainly NOT where DIRECTORS of the said charities are actually PAID more than £100,000pa salaries, let alone charities of SOMEONE ELSES YEAR!!!!
Also I envisage that losing this credit won’t actually do me ANY favours whatsoever, since if I want it back in any emergency, I would have to apply for it AGAIN in the middle of ...a credit crunch. – (sorry mate..we don’t hand out credit no more..)
NO WAY!!!!
I rang them on their 01 number and opted out of the cancellation.
Haven’t these bloody banks done enough damage yet????

why don't you use your card and spend the GBP5 on something?

macutmore

Yes. Decided to use the card for one transaction alone. I don't normally because all my conventional transactions are normally done monthly on another card that earns reward points for which I clear the balance every time. Oh well only a few points lost this month!