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http://www.bbc.co.uk/news/business-39476895
Have anyone thought of mentioning to the FCA about something called THE LENDING CODE. It's quite a new thing(been around for about 10 years). It has little bit within it of helping customers in financial difficulty.
Anyone else heard of the fancy new Lending Code???
Before anyone answers the above question, I am being EXTREMELY sarcastic. It's ridiculous that the FCA have to even propose such measures when it's blindingly obvious except if you are a financial institution making money from people who do not pay their bill on time or pay the minimum. I'm guilty of that and have been rewarded by my bank increasing my credit limit.
About 15 years ago, one of my credit cards decided that they would increase my limit to more than I earned per annum. I reduced the limit. How about a ban of banks increasing credit limits on credit cards without the cardholder requesting it....
Have anyone thought of mentioning to the FCA about something called THE LENDING CODE. It's quite a new thing(been around for about 10 years). It has little bit within it of helping customers in financial difficulty.
Anyone else heard of the fancy new Lending Code???
Before anyone answers the above question, I am being EXTREMELY sarcastic. It's ridiculous that the FCA have to even propose such measures when it's blindingly obvious except if you are a financial institution making money from people who do not pay their bill on time or pay the minimum. I'm guilty of that and have been rewarded by my bank increasing my credit limit.
About 15 years ago, one of my credit cards decided that they would increase my limit to more than I earned per annum. I reduced the limit. How about a ban of banks increasing credit limits on credit cards without the cardholder requesting it....
