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Credit card spending to be frozen under new T&C's

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So RBS/Natwest amending their terms and conditions to allow them to "help" customers in persistent debt by freezing their spending, allowing them to focus on repayment. This is going to have significant ramifications in the looming recession. A much quicker, vicious reigning in of debt than the last downturn. Many more banks to join in I'm sure leading up to the new FCA rules in September. 3 million to be affected.

https://amp.theguardian.com/money/2018/jun/02/credit-card-spending-terms-conditions-rbs-natwest

Edited by Barnsey

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8 hours ago, Barnsey said:

So RBS/Natwest amending their terms and conditions to allow them to "help" customers in persistent debt by freezing their spending, allowing them to focus on re payment. This is going to have significant ramifications in the looming recession. A much quicker, vicious reigning in of debt than the last downturn. Many more banks to join in I'm sure leading up to the new FCA rules in September. 3 million to be affected.

https://amp.theguardian.com/money/2018/jun/02/credit-card-spending-terms-conditions-rbs-natwest

There is a difference between payment and repayment. The bank was not lending anything..... so they can't be RE paying anything ..... it is just payment.

one more time ........ 

 

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24 minutes ago, cnick said:

There is a difference between payment and repayment. The bank was not lending anything..... so they can't be RE paying anything ..... it is just payment.

one more time ........ 

 

Never seen that clip before but it was brilliant in explaining what Positive Money and others try to do. Off to read about City of London not being part of the UK now too!?

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45 minutes ago, GeordieAndy said:

Off to read about City of London not being part of the UK now too!?

Ah, so borders are acceptable when it suits them :lol:

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1 hour ago, winkie said:

Do they teach this in schools?....teach what suits them?:lol:

Too busy teaching kids about LGBTT issues from the age of 5... that's far more important than teaching them about irrelevant side issues such as our debt based economy, money creation, wealth inequality and how the banking and financial system really works.

Edited by nome

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  • 336 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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