Thanks, Barclaycard
And very handy it is too. So handy, that when Barclaycard offered CF a second card, he was glad to reply "Why, yes! One for the lady wife, if you would!".
Sure enough, 10 days later, a letter arrived. Printed on cheap, thin paper, using a dot matrix printer, it tersely informed CF "Your application has been refused".
What? You fucking what?
You just offered a second card, you nonces. A card for Mrs CF, who shares the same surname, lives at the same address and is party to joint bank and mortgage accounts. So presumably has a startlingly similar credit rating to the main cardholder.
The card itself hasn't exactly been used to run up hideous debts, either. It's used most days, always cleared every month - by Mrs CF, funnily enough - and it's got a 5 figure limit which has never, ever been exceeded.
And you weren't exactly cautious when you issued the fucking first card, were you? If CF recalls correctly, his was flogged to him by a shifty-looking bloke signing people up at Kings Cross railway station, for Christ's sake.
So why the fuck can't Mrs CF have one, you dimwitted moneylenders?
Dear god.
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12 comments:
Stupid thing is they gave me one.
It's precisely because it's not been used to run up huge debts that they won't give you another one!
No chance for them to make any money on it...
In a free market economy, there is but one good way for you to show your contempt.
It's a pain that it will probably involve a fair bit of admin.
Best regards
Ah Julia has the answer I see!
Maybe 'cos one is for "Mr" & the other for "Mrs"?
Wot Julia sed. It's because you don't pay any interest, so it's just an admin cost to them. One of the providers actually cancelled all the 'in full every month' customers, as I recall.
I leave a small balance on my cards a couple of times a year now, precisely to avoid that.
You'd think they'd manage to co-ordinate the sales and accounts team though, wouldn't you? Perhaps there's some data protection problem with that? Or perhaps it's just cheaper to blanket offer everyone?
JuliaM is correct. 26 years ago I applied for my first credit card (Barclaycard) - they declined. Up till then I had only taken out one small loan, which I paid back in less than the full term. So, effectively, I didn't exist. I had to get my building society to write a letter confirming my long standing account before they relented.
Some years ago I switched to the Co-op bank, and so far they haven't threatened to bring in charges for those, like me, who pay the full balance each month.
As Jill suggests, the marketing people decide who gets the initial offer based on mailing lists oof existing clients. The accounts people only look at those who respond and you CF have been found wanting.
The very fact that you have been examined and declined will be a further downgrade on your credit rating.
Such fun.
"The very fact that you have been examined and declined will be a further downgrade on your credit rating."
A point I was also going to make but was beaten to by 'Banned' Damn it, there goes my commenter rating!
You don't need to leave a balance on you card a couple of times a year, and you were not necessarily turned down because you are a good customer who pays of the balance each month.
Yes, credit card companies want to make money and they make stacks of money from customers who never pay a penny in interest or late payment fees - as long as these customers use their card.
Every time you use your card, the shop has to hand over typically 1.5% to 2% of the total transaction to the company (usually a bank) that processes the transaction. Part of this fee is then passed on to the bank that issued the credit card. If you use your Barclaycard to buy a new set of tires for your car, total cost £350, the garage will get say £344.75, and Streamline ( the merchant sevice provider) will keep £5.25. From this £5.25 Barclacard will get between 50% and 80% let's say £3.00.
If you have ever wondered why so many shops don't take American Express it is because typically the transaction costs are 5% of the total. Since shops don't add on extra charges for card transactions this can be a lot to swallow
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