Saturday, Jul 29, 2006
Better late than never
Guardian Unlimited: Card limits 'to cut overspenders'
MBNA is changing its terms and conditions so that it can now refuse to authorise a transaction if it thinks a customer is "spending beyond their means", even if they have not exceeded their credit limit. Barclaycard, is introducing a similar new clause.
Posted by uncle chris @ 09:14 AM (32 views) Add Comment
4 Comments
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1. Geneer said...
How kind of them to show such concern. Of course dept woes are nothing to do with them upping the credit limits on cards.
They are pre-empting the the coming PR disaster. Greedy b*stards.
2. Delboypass said...
Why dont they just lower the card limits?? seems like a much easier solution!
3. bidin'matime said...
But this is really very good news. A pincer movement between the credit cards and the mortgage lenders will hasten the collapse.
4. Paolo88888 said...
So I go on a shopping trip and then head to the supermarket to restock the freezer. Just before I get to the checkout, someone in the control room decides I've had enough. I think this is a bit bad because if I'm within the credit-limit I am doing nothing wrong. Its a source of unreliability with cards rather like Chip-and-PIN - sometimes the phone-lines or computers are overloaded and the card is declined. It means that you need to have cash with you a a backup. I'd prefer it if they reduced the credit limits.