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increase the credit limit on your card without you asking them? *fear*
that they reserve the right to increase the sum advanced on credit.
My Barclaycard credit has risen almost everytime I've made significant purchases with it.
Also probably if you've been missing paying back the balance.
the bare minimum each month but don't miss payments then they give you more credit because they make more out of you long term. If you never use the card and pay things off straight away then they've nothing to gain by raising your credit limit.
i paid it all off last week tho. that'll show 'em.
They know they can get loads off you.
I have about £6,500 of credit which i don't want and didn't ask for.
in the consumer credit stakes.
One of their 'operatives' (makes them sound like a terror cell) rang/emailed/faxed me repeatedly for about a month at work in an attempt to get me to agree to sign a release allowing them to loan money to someone who owed my organisation (well, not 'my' organisation, but, the set-up I work for)....she was like a fucking automaton.
In the end I sent her quite a pissy letter in which I launched a thinly veiled attack on the nature of the financial services industry in the UK and the part she was playing in the relentless fucking misery that is the consumer debt timebomb.
Haven't heard back from her.
these debt relief companies are fucking vultures. they invariably make it worse for people and some of them are an out and out scam.
that said if the banks wouldn't just wildly lend money left right and centre in the first place then people wouldn't end up in so much shit.
I find those 'Picture The Loan' adverts particularly annoying.
There's a good case for banning those companies from advertising on television full stop...particularly during the daytime when anyone with a job is err....at their job!
it's sickening what stunts these debt-management vultures resort too.
The most basic of which is telling their customers NOT to speak to their creditors, which they are only too happy to comply with. The reason for this is because they don't want your creditors to tell you that they still haven't heard anything from the debt-management company and you've incurred six months of charges and interest. You're balance has increased significantly as a result and when the debt-management company adds their own interest, it's cost you a lot more than it should.
There is actually a 100% free debt-management company called the CCCS (consumer credit counciling service) why people don't just use them is beyond me!
there is an awful lot of great advice out there.
I hate the way debt consolidation companies market themselves as charities, which is how they seek to come across, kindly offering a service to the needy.
The government and the FSA really need to get a grip on this, all that it would take would be for a popular movement to organise and default (en masse) on their credit cards/loans and we as a nation are all fucked!
there's also Payplan which is free.
AND the reason they don't want people to speak to their creditors/bank or whatever is that most banks will actually do exactly what the debt management company does for you FOR NOTHING.
and some of the companies will, for example, pay £1 a month to each creditor saying 'poor old sadpunk can only afford this much' when actually they're taking many times more from poor old sadpunk and keeping it in their pocket for 'admin costs'.
If you've got a genuinely good reason for not being able to pay your bills then the bank/credit card company/whoever WILL be able to help you!
I've only used about £600 of it. no intention of using any more.
who'd like your card. wanna share the digits?
more next week!
my card having clearly stated that my reason was a desire not to have any credit cards or owe any money whatsoever (apart from my syudent loan, but, they think I'm dead/in Canada or that I died in Canada!)I was asked no less than 6 TIMES whether I wanted a 25,000 loan (at a really great rate!). That's considerably more than I earn in a year, dicks.
"We have a new survey available for you to take now. If you qualify and complete the survey you will receive £1.50.
Survey subject: Finances"
it's like saying - HEY YOU! COME ON! GET INTO DEBT!
And I didn't notice for ages. When I did and tried to draw out approaching £700 for a deposit and advances and stuff for a new house it wouldn't let me.
Apparently I have to pay off the remaining £500 before I can draw money out on it. Why give me more chuffing credit then!
the boyfriend of a girl I used to work with, he was 25 and earning about 14K.....so obviously when he needed a new car he decided to buy the new VW Golf GTI (22k?)....on a credit card...no, seriously!