El-Mariachi Posted September 12, 2006 Share Posted September 12, 2006 Is this the beginning of the end of "Easy Credit" ? and what will be the larger ramifications when you consider the rise of interest rates... http://business.guardian.co.uk/story/0,,1870210,00.html Link to comment Share on other sites More sharing options...
nick2 Posted September 12, 2006 Share Posted September 12, 2006 How very public spirited of them, they are worried about their customers getting into debt. Bless, they are such a nice bank. Link to comment Share on other sites More sharing options...
artisan Posted September 12, 2006 Share Posted September 12, 2006 Brings the old saying 'Shanghied' back into vogue then Link to comment Share on other sites More sharing options...
donuticus Posted September 12, 2006 Share Posted September 12, 2006 Simple way round this is not to live beyond your means surely. If you havent thecash for something you cant have it. Or am I just old fashioned. Link to comment Share on other sites More sharing options...
Don_Kiddick Posted September 12, 2006 Share Posted September 12, 2006 As it's from the Guardian I remain very sceptical Link to comment Share on other sites More sharing options...
Meaks Posted September 12, 2006 Share Posted September 12, 2006 If they cut my overdraft limit I would just have to make up the difference on my credit card(s), getting into even more debt, hence making HSBC even more money. They aren't stupid. They are greedy however. Link to comment Share on other sites More sharing options...
Alex C. Posted September 12, 2006 Share Posted September 12, 2006 Simple way round this is not to live beyond your means surely. If you havent thecash for something you cant have it. Or am I just old fashioned. Students tend to need it to get through the year, or the summer, or to make up a shortfall. Its also useful for direct debits that go out the day before you're paid, or other similar cases. I'm wondering if this applies to student accounts in a similar way - they do overdraft reviews, which involves going into the branch and them asking you how much you want. Last time I was £1029 over, on a £1000 overdraft - so they increased it by £250. Link to comment Share on other sites More sharing options...
donuticus Posted September 12, 2006 Share Posted September 12, 2006 If they cut my overdraft limit I would just have to make up the difference on my credit card(s), getting into even more debt, hence making HSBC even more money. They aren't stupid. They are greedy however. If you think they are being greedy then dont spend money you don't have ! Link to comment Share on other sites More sharing options...
DaFoot Posted September 12, 2006 Share Posted September 12, 2006 If you think they are being greedy then dont spend money you don't have ! I, for one, often don't have the choice of not spending money I dont have. Link to comment Share on other sites More sharing options...
nick2 Posted September 12, 2006 Share Posted September 12, 2006 The point is that if banks realy cared about people getting into debt they would not provide the service whereby you can. If they didn't give people overdrafts they couldn't use them, but then the bank couldn't charge you for using it either, it's all a bit hypocritical. Link to comment Share on other sites More sharing options...
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