Comments on: Good credit? Goodbye. It’s all about the profit.

By: Romulan

Romulan — Tue, 01 Jun 2010 12:02:28 +0000

What is the point of talking about credit card issuers, malicious lending and so on and so forth.The truth is that the banks own us.we are in a modern day slavery. You can not be without a bank account but you are charged for everything or anything. And the truth is that the regulatory bodyes are part of the same system which will protect the banks first and then will look at you.

By: Jessie

Jessie — Wed, 26 Aug 2009 17:56:48 +0000

well idk about credit and stuff but my feet stink.

By: Simon Bing

Simon Bing — Sat, 15 Aug 2009 12:25:49 +0000

If you are in this situation the first thing I recommend you to do is check the validity of the credit agreement. To their detriment, many lenders, opted for a ‘simpler’ looking agreement, which meant removing much of the statutory small print. In very many cases this renders the agreement invalid in law and in such cases it is possible to legally stop making payments. It sounds hard to believe but it is true. I have been there, and done it. Good luck.

By: Dick Brooker

Dick Brooker — Sun, 14 Jun 2009 04:43:43 +0000

At last, the financial institutions have woken up I have argued for years that if I were to issue credit cards I would not do so to the worst 30% payers because the chances are I would lose money. Also I would not lend to the top 10% best payers as I would not make money. The ones I would love to have are those in the middle who mostly pay but accassionally do not. I have been using 0% offers for balance transfers and purchases for years and not paid any fees. In fact I have made money. Transfers are now a no-no, but for purchases are still good. I suppose eventually I shall be refused new cards or have my existing ones cancelled.

By: Alan Barry

Alan Barry — Sun, 15 Mar 2009 14:40:40 +0000

Hi, I have been a very good customer and not missed a payment in 14years!. I have had my interest rates increased to 30% from an average of 5% and the facillity for balance transfers/cash advances withdrawn. Could this amount to malicous lending from the credit card companies?????

By: helen lloyd

helen lloyd — Thu, 22 Jan 2009 09:10:38 +0000

I have just been notified by Capital One that due to the current credit environment they are increasing standard interest rate on my agreement to 34.67%. I only use the cards occasionally and they both have low limits, so I am small fry as far as profits go. They have given two alternative options to paying the increase. Option 1 is to repay immediately and close the account, Option 2 is to destroy the cards and make no more transactions until the balance is cleared at the old rate, then close the accounts. So in effect, I am being pushed to close my accounts, which I have held for years, without problems. I even recently set up direct debits to ensure payments are never late.

By: susan ball

susan ball — Wed, 31 Dec 2008 08:58:18 +0000

both abbey and alliance&leicester have increased my apr from 15.9% to 33% with no warning or reason

By: Hugh McLernon

Hugh McLernon — Sun, 28 Dec 2008 00:33:39 +0000

The Royal BankOf Scotland cancelled my credit card nearly 2 years ago. I had paid off my credit card and used it to pay for a monthly standing order ( Which Magazine). I received a letter from the Customer Service Manageress stating that they would NOT be re-issuing me with a new card. No explanation was given. A friend of mine who had similar experiences put me wise as to the reason. My credit rating is very good, but it looks like getting a credit card could be problimatic.