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winkie

Turned Down For A Credit Card?

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If they are unwilling to take on new customers they will try to squeeze more profit out of those already in debt.

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I phoned the Halifax last week about something else but all they wanted to do was give me a credit card.

I told her if they are starting to force credit down people's throats again I'd better get my money out as the saving rates were already bad enough due to their reckless lending. She was sorry I felt like that.

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I phoned the Halifax last week about something else but all they wanted to do was give me a credit card.

I told her if they are starting to force credit down people's throats again I'd better get my money out as the saving rates were already bad enough due to their reckless lending. She was sorry I felt like that.

Nice one.

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I phoned the Halifax last week about something else but all they wanted to do was give me a credit card.

I told her if they are starting to force credit down people's throats again I'd better get my money out as the saving rates were already bad enough due to their reckless lending. She was sorry I felt like that.

Bravo.

I applied for the M&S credit card 2 weeks ago to spread the cost of a large purchase I have coming up (0% for 15 months). I was given a credit limit of £3,600 (not enough but it'll do). I applied for the Halifax Rewards Clarity Card last week for the £5 pcm cashback (hey, every little helps), which I'll be using alongside my Egg Money card. I was given a credit limit of £3,500 on that; the same as on my Egg Money card. I've also got a limit of about £2500 on each of three other unused, zero balance, yet to be closed credit cards.

So it sounds suspiciously to me like the banks are extending credit but only to those people that have proven they will actually repay it. It's a peculiar business model, to be sure, but then it's a crazy old world we live in.

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http://www.bbc.co.uk/news/business-13117325

...how will people be able to spend in shops to support our economy? :unsure:

End of the credit bubble. No one will lend to those unlikely to pay it back anymore, so the only way forward is shrinking credit...

...ergo, shrinking economy...

...ergo, more default on debt...

...ergo, more shrinking economy...

...ergo, falling govt. tax receipts leading to an inability to grow our way out of our national debt...

...ergo, more ZIRP and more QE...

...ergo, more inflation...

...ergo, sterling depreciation...

...ergo, better buy yourself some hard currency (seeing as the same thing is happening in Europe and the US).

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The banks, I understand will have to hold more cash capital so I guess they will have to be more choosy who they lend to, they are banking on getting almost all the money back, not just some of it. ;)

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http://www.bbc.co.uk/news/business-13117325

...how will people be able to spend in shops to support our economy? :unsure:

I,ve noticed same, i have only ever had a £1000 limit on my card for petrol and bits and bobs and i requested this limit and always pay the balance off at the month end, at the begining of the year they increased my limit to £8000 without even asking me and i was anoyed at this, but about 2months later this wrote to me again saying as i never use my card much they were reducing it to a lower limit.. So it looks like at last they are being more responsible with credit .!

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I phoned the Halifax last week about something else but all they wanted to do was give me a credit card.

Same old story since the credit crunch began, they are desperate to lend to people who don't need it to make it look like they are lending as they are supposed to.

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I,ve noticed same, i have only ever had a £1000 limit on my card for petrol and bits and bobs and i requested this limit and always pay the balance off at the month end, at the begining of the year they increased my limit to £8000 without even asking me and i was anoyed at this, but about 2months later this wrote to me again saying as i never use my card much they were reducing it to a lower limit.. So it looks like at last they are being more responsible with credit .!

when they increased it to 8k it probably featured in a statistic to show how they were lending as they are supposed to

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I phoned the Halifax last week about something else but all they wanted to do was give me a credit card.

I told her if they are starting to force credit down people's throats again I'd better get my money out as the saving rates were already bad enough due to their reckless lending. She was sorry I felt like that .

:lol::lol::lol:

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I phoned the Halifax last week about something else but all they wanted to do was give me a credit card.

My credit limit has just been raised from £10k to £20k. Is it because I have held a CC since 1972 without problems.

They are really tempting me. :D

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I,ve noticed same, i have only ever had a £1000 limit on my card for petrol and bits and bobs and i requested this limit and always pay the balance off at the month end, at the begining of the year they increased my limit to £8000 without even asking me and i was anoyed at this, but about 2months later this wrote to me again saying as i never use my card much they were reducing it to a lower limit.. So it looks like at last they are being more responsible with credit .!

....but to some their credit card is their security blanket, their easy access to available funds if required, the thought of it being withdrawn is to them like someone stealing their own money. :blink:

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....but to some their credit card is their security blanket, their easy access to available funds if required, the thought of it being withdrawn is to them like someone stealing their own money. :blink:

Surely it's against their human rights. Should be if it's not.

I honestly heard a woman on the Jeremy Vine Show say she had been refused a loan and thought that it was against her human rights !!!

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This is good news for the economy unless you're a banker or take a ludicrous short-term view. Less credit == ultimately less of your money goes in paying interest, therefore you've got more money to spend because you're giving less to the banks. It's only a problem for the economy if potential wealth-creators aren't getting it who might be able to produce more quicker than if they had to save up first.

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  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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