Go On My Son - You Can Have It Today

[Bazile]

Letter dropped on my mat this morning , from my Building Society .

They are inviting me to have my credit limit on my credit card increased from 6k+ up to 8k+

Is the timing any thing to do with christmas or am i just being cynical ?

Is it any wonder some people can't resist this sort of temptation and get themselves into serious debt .

[Patsy33]

Of course, sadly...

[jno]

at least they are giving you the choice. I've occasionally had the limit raised without asking for it, or wanting it. (And sometimes lowered, ditto.)

[Old_Geezer]

If one can not resist the temptation one ought not carry a credit card.
Yes of course some are weak and pay the consequences. (Some may be desperate and it would be immoral to offer them any credit, as they need expert advice not an opportunity to get deeper into the mire.)
I'm more concerned about the high interest rates lenders apply, rather than the ability to choose to use a higher credit offer.

[Mamyalynne]

It's the cost of Marmite.

[Bazile]

jno
Yes i was very surprised that they did not automatically increase it , as they have always done in the past - i had to re-read it

[andy-hughes]

The timing is everything to do with Christmas - no cynicism involved, just business.

Ideally, you should use a credit card for an extended pay-up time - six weeks is the norm, and then pay it off, and attract no interest.

The fact is, millions of us don't do that, which makes marketing like this worthwhile.

I know that card issue regulations have tightened up massively in recent years, but the companies do rely on people not paying off their balances within the due time, and the size of their empires is testament to how often that occurs.

[andy-hughes]

Another thought - your existing provider may have targeted you for an increase, but have you noticed the cessation of the endless confetti of offers from new providers looking to snag you as a card holder?

[jno]

I know, I had seven new solid gold bath taps before I was able to convince them to lower it again.

[jno]

... that was to Bazile

[Baldric]

Haven't had a Credit Card for years, keep getting offered ones with ridiculous amounts of credit on them, no thanks.

[andy-hughes]

You can always regard continued offers to apply for cards as confirmation of your excellent credit rating.

Some years ago, when I was getting daily invitations, I spoke to my bank about a loan, and was advised that my credit rating was among the best they had.

[Bazile]

Funnily enough i was thinking recently, whether or not to take advantage of a 'free' credit check , as is being offered on the telly ad currently ; to see what is recorded on my credit file .

I suppose this offer from my BS , may indicate that my credit file might not be showing anything negative

[andy-hughes]

Bazile - //Funnily enough i was thinking recently, whether or not to take advantage of a 'free' credit check , as is being offered on the telly ad currently ; to see what is recorded on my credit file . //

Be careful.

Some of these 'free credit checks' ask you to sign in with your debit card info first. The 'free' bit concerns your ability to cancel after thirty days without payment, but of course, they rely on you forgetting, and then they take payments out of your account until you do cancel.

[Bazile]

Yes Andy - i know there is always something in it for them