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General Chat Thread, It's Just Not Working is it Gordon....... in General; Originally Posted by CHR1S I understand that you have to use credit to get credit but giving you a bad ...
  1. #16

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    Quote Originally Posted by CHR1S View Post
    I understand that you have to use credit to get credit but giving you a bad credit rating because you cancel a credit card isnt on.

    I have a pretty much near as can be perfect credit score and if I cancelled my card and that stopped me from re-mortgaging my house for example I would have some serious issues to take up with that company!
    I have had cards & cancelled them over the years and it doesn't seem to have had an impact on my credit rating as far as I can tell.

  2. #17
    theeldergeek
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    Quote Originally Posted by CHR1S View Post
    I understand that you have to use credit to get credit but giving you a bad credit rating because you cancel a credit card isnt on.

    I have a pretty much near as can be perfect credit score and if I cancelled my card and that stopped me from re-mortgaging my house for example I would have some serious issues to take up with that company!
    The problem is, whilst you might have "issues", there is pretty much jack sh1te you can do about it. You can pay to have your credit rating 'corrected', but you can't wipe the slate clean insofar as I am aware.

    There seems absolutely no flexibility when it comes down to personal circumstances and everyone is lumped in one category or another.

    Maybe we should start some sort of co-operative. EduBank anyone?

  3. #18
    torledo's Avatar
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    Quote Originally Posted by mattx View Post
    The government tell the banks to lend more etc etc......
    I try to get an extra £2000 on my credit card and get refused even though I pay off my bill EVERY month, and I can easily put this on another card or just raise a cheque [ remember those ] for what I need to get.
    Another fine example of why I hate financial institutions.
    Then why don't you, and stop whining about financial institutions in general, it's one decision you don't agree with. What do you want, competition in financial service where you CAN get an increased CC limit from another lender or govt. telling each bank how much to lend and to who.....you could go along to your local branch and hand over a little note from Gordon that says how it's their duty to extend your CC limit because you vote labour every five years.

  4. #19

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    Quote Originally Posted by torledo View Post
    Then why don't you, and stop whining about financial institutions in general, it's one decision you don't agree with. What do you want, competition in financial service where you CAN get an increased CC limit from another lender or govt. telling each bank how much to lend and to who.....you could go along to your local branch and hand over a little note from Gordon that says how it's their duty to extend your CC limit because you vote labour every five years.
    How do you know what I vote ? I thought my vote was between myself and the voting booth.
    What I really want is a bit of direction in regards to where this country is going - the point I am making is that they want you to spend money - [ get a new car for example ] but then when the offer is in front of you, you can't because the banks are still not lending.
    My example is a sarcastic example and like I said I can pull the money elsewhere but not everyone can and this clearly shows you why the current governement strategy is just full of holes.
    And I will whine all I like thankyou very much, as we now own the majority of them and if I think they are doing a crap job, I will certainly say so.
    Hope that clears it up or would you like me to draw you some nice pictures of flowers instead ?
    Last edited by mattx; 10th March 2010 at 12:21 PM.

  5. #20

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    You should try opening an Internet savings account with Halifax... I go to the website, fill in the details... so far so good. Then you get to the bit where it says because of money laundering regulations you need to provide proof of id...

    You can send your id by post (original passport & driving licence etc) or visit a local branch..... I decide not to trust my documents to Royal Mail & make a special trip to the branch... queue for 25 mins to show them my documents, they copy them, 'update' something online & everything is supposed to be fine & dandy....

    A few days later I check online... my account still says waiting for documentation...

    Another week later ... still says waiting for documents....

    So I phone the online helpdesk... they say I need to provide documentation to say who I am before they will talk to me as my account is not 'authorised' yet...... can I post my documents to them, or take them into a branch.... despite me telling them I have already done so & asking them to check with my local branch they will do nothing to kickstart the process until I provide documents again...

    By this time I am getting seriously frustrated... I search their website looking for someone to complain to... yes, they have a complaints procedure, you can phone or write (no email option)... I pick up the phone, dial the 0845 number... & get a recorded message that their complaints dept close at 5pm.....

    As far as I am concerned, hell will freeze over before I put my money into Halifax.... if they cannot make it easy for someone opening an account what will the customer service be like when they have got my money?
    Last edited by broc; 10th March 2010 at 12:24 PM.

  6. #21

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    Quote Originally Posted by broc View Post
    You should try opening an Internet savings account with Halifax... I go to the website, fill in the details... so far so good. Then you get to the bit where it says because of money laundering regulations you need to provide proof of id...

    You can send your id by post (passport & driving licence etc) or visit a local branch..... I decide not to trust my documents to Royal Mail & make a special trip to the branch... queue for 25 mins to show them my documents, they copy them, 'update' something online & everything is supposed to be fine & dandy....

    A few days later I check online... my account still says waiting for documentation...

    Another week later ... still says waiting for documents....

    So I phone the online helpdesk... they say I need to provide documentation to say who I am before they will talk to me as my account is not 'authorsied' yet...... can I post my documents to them, or take them into a branch.... despite me telling them I have already done so & asking them to check with my local branch they will do nothing to kickstart the process until I provide documents again...

    By this time I am getting seriously frustrated... I search their website looking for someone to complain to... yes, they have a complaints procedure, you can phone or write (no email option)... I pick up the phone, dial the 0845 number... & get a recorded message that their complaints dept close at 5pm.....

    As far as I am concerned, hell will freeze over before I put my money into Halifax.... if they cannot make it easy for someone opening an account what will the customer service be like when they have got my money?
    Good for you, I have a bond which matures this year with them and will be moving it as their customer services is disgusting. I popped in a while back to open up my 'dump' account [ money which I get for private work ] - had a wad of cash in my pocket and they asked me 'to come back later' [ this was 9:30am ] as they were not ready. So I popped to another bank, and opened the account there. On the way back to my bike I popped in the Halifax and said I would be closing my 2 ISAs, savings and will be moving my bond account when it matures because of their attitude.

  7. #22

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    Quote Originally Posted by broc View Post
    if they cannot make it easy for someone opening an account what will the customer service be like when they have got my money?
    Even worse, I bet. Shop around and have a look at the current "best rates" on the MoneySavingExpert website for ideas.

  8. #23
    torledo's Avatar
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    Quote Originally Posted by mattx View Post
    How do you know what I vote ? I thought my vote was between myself and voting booth.
    What I really want is a bit of direction in regards to where this country is going - the point I am making is that they want you to spend money - [ get a new car for example ] but then when the offer is in front of you, you can't because the banks are still not lending.
    My example is a sarcastic example and like I said I can pull the money elsewhere but not everyone can and this clearly shows you why the current governement strategy is just full of holes.
    And I will whine all I like thankyou very much, as we now own the majority of them and if I think they are doing a crap job, I will certainly say so.
    Hope that clears it up or would you like me to draw you some nice pictures of flowers instead ?
    yes, but if it's that important to you to spend money you don't have in savings, which is your want obviously, then you can find a CC company that will lend you the money or use another method of raising the finances. So your grievance is with an individual decision/repsonse in regards you your situation.

    So to make some conlcusion about what the banking sector is/isn't should/shouldn't be doing just sounds like the usual court of public opinion nonsense. Like people complaining about overdraft charges, you know the rules, there is no 'right' to have your CC limit extended or have a charge waived if you go overdrawn without authorisation, nor is there a right to be lent how much you need to start a business or buy a house.....these are private companies which extend credit on a case-by- case basis.

    you have no voting rights or control of operational decisions as far as the bailout banks, so you or I for that matter can complain as much as we want, we don't get a say in how much they should lend and to who. And that's the way it should be.

  9. #24

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    Quote Originally Posted by webman View Post
    Even worse, I bet. Shop around and have a look at the current "best rates" on the MoneySavingExpert website for ideas.
    Indeed, I was looking yesterday on that site - its crap crap crap - 4.1% for 3 years was the best I could find which is rubbish.
    I will be doing a 1 year bond this year as if rates go up I don't want to be stuck in some crappy rate account.

  10. #25

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    Quote Originally Posted by torledo View Post
    yes, but if it's that important to you to spend money you don't have in savings, which is your want obviously, then you can find a CC company that will lend you the money or use another method of raising the finances. So your grievance is with an individual decision/repsonse in regards you your situation.

    So to make some conlcusion about what the banking sector is/isn't should/shouldn't be doing just sounds like the usual court of public opinion nonsense. Like people complaining about overdraft charges, you know the rules, there is no 'right' to have your CC limit extended or have a charge waived if you go overdrawn without authorisation, nor is there a right to be lent how much you need to start a business or buy a house.....these are private companies which extend credit on a case-by- case basis.

    you have no voting rights or control of operational decisions as far as the bailout banks, so you or I for that matter can complain as much as we want, we don't get a say in how much they should lend and to who. And that's the way it should be.
    I don't want to spend my savings when I get an 0% finance deal though do I ?
    And as for the banks, well I own some HBOS shares so I can have a say and if the Tory Boys get in they will do their normal sell off so I may get some more.
    In regards to overdraft fees, I agree 100% but in regards to a CC limit, I never said I have a 'right', I stated I would like to have it extended however I was refused which is odd as the government [ and all sides of the political realm agree ] that banks should try and lend more. And this is ironic as we now own the majority share.....
    The climate [ in my opinion ] is a mess, the mess was made my greedy bankers and financial institutions, and even now, many months on, they are still screwing it up.

  11. #26

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    I was looking for somewhere to stash spare cash left over at the end of the month but still have access if I needed it in an emergency, Halifax offered the best rate (only 2.85%).

    I am going to rethink my plan now though ....

  12. #27
    torledo's Avatar
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    Quote Originally Posted by mattx View Post
    I don't want to spend my savings when I get an 0% finance deal though do I ?
    fair enough.

    And as for the banks, well I own some HBOS shares so I can have a say and if the Tory Boys get in they will do their normal sell off so I may get some more.
    You have some HBOS shares, you'll have voting rights, you don't have much influence as a small investor.....you certainly can't have any influence over individual lending decisions.


    In regards to overdraft fees, I agree 100% but in regards to a CC limit, I never said I have a 'right', I stated I would like to have it extended however I was refused which is odd as the government [ and all sides of the political realm agree ] that banks should try and lend more. And this is ironic as we now own the majority share.....
    i would ignore the rhetoric from govt. about lending more. The bailout banks are certainly doing what they can to meet lending targets, there are issues around why some targets aren't being met but the reasons will surprise quite a lot of people. You can't judge their effectiveness in overall lending based on individual refusals.

    The climate [ in my opinion ] is a mess, the mess was made my greedy bankers and financial institutions, and even now, many months on, they are still screwing it up.
    agreed. the retail banking sector was undone by it's own hubris and greed. But the govt. are just as culpable, the foisting of blame onto the banks works both ways. Do we blame the banks for lending recklessly overall pre-recession. yes. do we blame them for being more circumspect in the aftermath. strangely, yes. I guess we just want them to lend us money AND the right to blame them when things go pear shaped.

    Although there doesn't seem to be any evidence of rationing of credit. as i say these lending decisions are done on a case by case basis. I don't think it's helpful to build this retail banking bogey man which is responsible for all economic ills.

  13. #28

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    You have some HBOS shares, you'll have voting rights, you don't have much influence as a small investor.....you certainly can't have any influence over individual lending decisions.
    Never said I wanted to make those types of decisions - I would however like to vote on how the bank is run.....

    i would ignore the rhetoric from govt. about lending more. The bailout banks are certainly doing what they can to meet lending targets, there are issues around why some targets aren't being met but the reasons will surprise quite a lot of people. You can't judge their effectiveness in overall lending based on individual refusals.
    No you can't judge their overall effectiveness but when indivudual people will when read in the papers and see on the news that the government have instructed the banks to lend and they clearly arn't, it will get their backs up. [ And quite understandably ]

    agreed. the retail banking sector was undone by it's own hubris and greed. But the govt. are just as culpable, the foisting of blame onto the banks works both ways. Do we blame the banks for lending recklessly overall pre-recession. yes. do we blame them for being more circumspect in the aftermath. strangely, yes. I guess we just want them to lend us money AND the right to blame them when things go pear shaped.
    Just a quick history lesson, it was Regan and Thatcher who were responsible for the deregulation of the banks. And look what has happened.

    Although there doesn't seem to be any evidence of rationing of credit. as i say these lending decisions are done on a case by case basis. I don't think it's helpful to build this retail banking bogey man which is responsible for all economic ills.

    No evidence ? Well me not getting an extra £2000 in all the evidence I need !!

  14. #29

    CHR1S's Avatar
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    As an aside why not get a personal loan for the £2000? They are coming in at around 7% and would solve your immediate issue. Strange they wont take your scrappage allowance as deposit too.

  15. Thanks to CHR1S from:

    the_one_that_cant (10th March 2010)

  16. #30
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    Quote Originally Posted by webman View Post
    Even worse, I bet.
    Yes that's a lot worse, betting can lose you an awful lot of money.

    Which is why the stock market is a bad place to do business

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