'As one of our best customers we've recently increased your credit limit to £11,200. This means you can withdraw more cash this Christmas to really splash out on yourself and your family.'
It then continues: 'Simply by visiting the nearest cash machine displaying either the MasterCard or Visa logo you can get access to cash whenever you need it.'
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So we now know 11K is the credit limit for its best customers.No issues with that....but then it say draw cash out??? Are they encouraging it?? If so, why, given the high cost of interest on cash withdrawals and we know that it is seen to be bad for credit reference as even MBNA's credit controller would say - 'anyone withdrawing cash and knowing the high interest rate must have money problems'
This Xmas campaign of theirs gives undeniable evidence that CC company like MBNA wants you to be irresponsible - by withdrawing cash. This Bank of America entity can just return there and sell the Americans short instead.
Last edited by kalla on Thu Dec 18, 2008 10:24 pm, edited 1 time in total.
But I am sure that a lot of people will take advantage of that - as I did last year with my Visa and Mastercard to pay bills!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Have you the advertising material? If so please forward it to me asapin the post or by email. This is irresponsible lending and maybe something the OFT might want to consider!
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
