Monday, 13 October 2008

Credit Crunch? What Credit Crunch?

Just a quick post today, they tell me there is a credit crunch going on. US is bailing out the banks to $700BN and the UK is giving banks £50BN, nationalising banks and telling us all that we are going to have to tighten our belts and that mortgages are going to be impossible to get, blah blah, wrack and ruin, blah blah, doom and gloom etc. So can someone please tell me why my bank has written to me INCREASING the credit limit on my card because I have been a good boy. I did not ask for this, I do not need this and I don't particularly want it but I've got it.
No wonder people spend too much and land in trouble.

4 comments:

Louise said...

Funny you should mention this........... I'm going to the bank tomorrow to deal with credit debt! Ergh! Sucks big time!

cellar_door said...

Mr Door was recently given a credit card with a £7000 limit, despite being overdrawn for the last 10 years :0) You can ring and ask them to lower it again I think...it is madness. However, it annoys me when people blame their 40k debt entirely on the bank; what happened to personal responsibility? Just because it's there doesn't mean it has to be spent...

GrumpyRN said...

Cellar Door, you are right, it is not the banks fault for personal debt, but they made it very easy for people to fall into the trap.
I think what annoys me most is that I have had the card for years and never used it and never heard from the bank. I recently transferred a balance to them at 0% interest because it made sense and now they are offering me more money and I have become their new best friend.

Paula said...

You are right that it is not the banks fault..it is the fault of those of us who have gotten ourselves into this mess. Now if the government would just come bail me out LOL!!