Saturday, July 29, 2006

Better late than never

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 (2802 views)
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4 thoughts on “Better late than never

  • 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.

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  • Why dont they just lower the card limits?? seems like a much easier solution!

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  • bidin'matime says:

    But this is really very good news. A pincer movement between the credit cards and the mortgage lenders will hasten the collapse.

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  • 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.

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