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This has got me absolutely fuming.
Mrs SnV has a very small balance with the NEXT Catalog (less than £100) with a limit of a £200. She doesn't work and has been in arrears with them in the past and struggled to keep up repayments.
This week she gets a letter from them. Because she's such a good customer (so they tell her), here's an increase of your credit limit to £3250. Unless she calls them to decline it will be automatically applied to her account in the next 28 days.
I kid you not - a credit increase of £3k given to someone who has a history of arrears, no income, no way of paying this back. WTF?!
This sort of thing makes my blood boil, its completely reckless and irresponsible lending - where the hell are the affordability checks or anything closely resembling them?
I know there's the personal responsibility argument, but there's also corporate responsibility too, and this is a perfect example of a company not taking any responsibility at all but instead leading someone into debt misery.
Mrs SnV has a very small balance with the NEXT Catalog (less than £100) with a limit of a £200. She doesn't work and has been in arrears with them in the past and struggled to keep up repayments.
This week she gets a letter from them. Because she's such a good customer (so they tell her), here's an increase of your credit limit to £3250. Unless she calls them to decline it will be automatically applied to her account in the next 28 days.
I kid you not - a credit increase of £3k given to someone who has a history of arrears, no income, no way of paying this back. WTF?!
This sort of thing makes my blood boil, its completely reckless and irresponsible lending - where the hell are the affordability checks or anything closely resembling them?
I know there's the personal responsibility argument, but there's also corporate responsibility too, and this is a perfect example of a company not taking any responsibility at all but instead leading someone into debt misery.
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