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General Chat Thread, It's Just Not Working is it Gordon....... in General; ...
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    mattx's Avatar
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    It's Just Not Working is it Gordon.......

    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.

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    36Degrees's Avatar
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    Quote Originally Posted by mattx View Post
    Another fine example of why I hate financial institutions.
    I particularly loved the fact that when the interest rate dropped to an historical low of of 0.5% the rate on my card went from 10.9% APR to 16.9% APR!

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    tech_guy's Avatar
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    I hate financial institutions ( I used to work for one as well ). Are there going to be any marches / protests in London on May 3rd that anyone knows of?

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    Quote Originally Posted by mattx View Post
    I try to get an extra £2000 on my credit card
    I spent the better part of 3 hours trying to argue my case on the phone to have my limit reduced. At the minute between my 5 cards (none of which are maxed and I always pay more than the minimum by atleast £100 if possible) my limit sits at the following

    £5000 on Virgin American Express
    £6000 on Virgin Mastercard
    £11000 on Barclaycard Mastercard
    £12000 on Tesco "clubcard" Mastercard
    £18000 on Barclaycard Visa

    I spent an absolute frickin age speakin with barclay card to have both cards reduced by £8000 on the Visa, and £5000 on the Barclays Mastercard, and an age on the phone to tesco to get it reduced by half.

    Getting it reduced is harder than having it increased!

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    Quote Originally Posted by nephilim View Post
    I spent the better part of 3 hours trying to argue my case on the phone to have my limit reduced. At the minute between my 5 cards (none of which are maxed and I always pay more than the minimum by atleast £100 if possible) my limit sits at the following

    £5000 on Virgin American Express
    £6000 on Virgin Mastercard
    £11000 on Barclaycard Mastercard
    £12000 on Tesco "clubcard" Mastercard
    £18000 on Barclaycard Visa

    I spent an absolute frickin age speakin with barclay card to have both cards reduced by £8000 on the Visa, and £5000 on the Barclays Mastercard, and an age on the phone to tesco to get it reduced by half.

    Getting it reduced is harder than having it increased!
    No - it's really easy to get it reduced.

    Step 1 - ring and cancel the account
    Step 2 - Cut card into many pieces
    Step 3 - Post bits back to company
    Step 4 - No limit issue on the card

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    mattx's Avatar
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    I dumped my Barclay Card last year after they screwed up my account when the card was cloned - back then I had [ just on one card ] a max limit of £10,000 !!
    Now I can't even get an extra £2000 - pathetic. It's ok to pay these toss pot bankers their bonuses for screwing up the county however when Mr Average needs an extra £2000 [ for a one off deposit to save him going down the bank ] they don't want to know.
    I would'nt waste my urine on a banker if they were on fire.

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    featured_spectre's Avatar
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    cancelling account = bad credit rating...rather have a good one so i can get a decent mortgage rate

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    CHR1S's Avatar
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    Quote Originally Posted by nephilim View Post
    cancelling account = bad credit rating...rather have a good one so i can get a decent mortgage rate
    How does this work? I want to cancel and im penalised for all future credit applications? I call BS on that one....

  9. Thanks to CHR1S from:

    mattx (10th March 2010)

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    mattx's Avatar
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    Quote Originally Posted by nephilim View Post
    cancelling account = bad credit rating...rather have a good one so i can get a decent mortgage rate
    Really ? Strange as I get letters everyday asking if I want to take out a loan.....

    Anyhoo - I've E-mailed Gordon and Alistair informing them the banks still arn't listening to their requests. Not that it will do much good..... I also reminded them that as a Tax Payer I am asking for some extra credit from a bank I actually part own......

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    Quote Originally Posted by nephilim View Post
    I spent the better part of 3 hours trying to argue my case on the phone to have my limit reduced. At the minute between my 5 cards (none of which are maxed and I always pay more than the minimum by atleast £100 if possible) my limit sits at the following

    £5000 on Virgin American Express
    £6000 on Virgin Mastercard
    £11000 on Barclaycard Mastercard
    £12000 on Tesco "clubcard" Mastercard
    £18000 on Barclaycard Visa

    I spent an absolute frickin age speakin with barclay card to have both cards reduced by £8000 on the Visa, and £5000 on the Barclays Mastercard, and an age on the phone to tesco to get it reduced by half.

    Getting it reduced is harder than having it increased!
    I had this problem as a student. They seemed to take my requests to have the limit reduced as requests for an increase. I was asking for a reduction to £1000, over the course of a year they raised it from £2500 to £15 000. Not sure how that works.

    Not really a problem now though, the limit on all of my cards totalled together is £50.

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    webman's Avatar
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    Quote Originally Posted by mattx View Post
    I get letters everyday asking if I want to take out a loan.....
    Strange one that as well... last year I had a payment set up with Black Horse Finance, and they sent me offers of loans. At one stage I could have done with one, so I called them to ask further. As it happens, I wasn't approved - despite the letter offering me it and having a current payment with them at the time!

  13. 2 Thanks to webman:

    bossman (10th March 2010), mattx (10th March 2010)

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    Quote Originally Posted by CHR1S View Post
    How does this work? I want to cancel and im penalised for all future credit applications? I call BS on that one....
    Is this because banks say "you're not borrowing any money so we have no info about how you would repay money if we lent it to you so we don't want to take the risk"

    This, of course, contrasts with the "you borrow money from us every month and pay it back every month. This means we make no money from you in interest so we don't want to do business with you"

    Keep your money under the mattress - you know it makes sense :-) (Actually, I think this is why bankers get such big bonuses. It's not because they're greedy *&^%S, it's because they're taking it all home to keep safely under their mattresses so that when the revolution comes we can have it all back ...)

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    mattx's Avatar
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    Wonder If I will get a reply.....

    To: darlinga@parliament.uk

    Good day to you Sir,
    I understand you are very busy running the economy but want to make you aware that the request you and Gordon Brown made to the banks in regards to lending money just continue to fall on deaf ears.
    I took up the offer of the car scrappage scheme [ very well introduced I must say ] to get the economy rolling etc so made use of this and ordered a new car. Now I have to pay a deposit for this new car so decided I would do that by using my credit card for convenience and also for the bonus of getting points / cash back etc.
    My limit on my card is £#####, now as I have a wife and family and ALL our out-goings are put on the credit card for convenience etc so I thought I would contact my credit card company and ask for an extra £2000 so I could put the deposit on the card. They refused.
    So on one hand I use the fantastic opportunity of scrapping my old car for a new car however, I now canít pay the deposit because the banks still arenít lending. Fantastic.
    Please sort them out Mr Darling or better still sack the lot of them.

    Regards

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    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!

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    Quote Originally Posted by nephilim View Post
    cancelling account = bad credit rating...rather have a good one so i can get a decent mortgage rate
    Absolutely not true. I've had many many credit cards and accounts over my life, I tend to move the balance around a lot - normally every 12 months or so, and I have an excellent credit score and got a good deal on a mortgage last year. Actually having too many accounts can do the opposite, as if you've already got too much credit in your name, even if you're not using it, they will lend you less on a mortgage.

    However at the moment I'm a bit miffed at the banks, as I wanted to combine my credit card debt together with another loan I'm already repaying which would lower my overall monthly outgoings by quite a bit, but at last enquiry the bank with the existing loan won't re-finance it or extend it, so got to go elsewhere which is a shame.

    Mike.
    Last edited by maniac; 10th March 2010 at 01:07 PM.



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