Egg

[Win2Win]

Seems Egg are withdrawing the credit cards from a good number of folk.....Question is, if they are a bad risk, why the hell didi they give them CC in the first place? :splapme

I still get letters every week of banks trying to give me money.....think I'll take it all and bugger off to live in the Philippines......

[TheOldhamWhisper]

According to one or two news programs last night, they are being investigated for allowing people who are constantly at their limit and who only pay the minimum off each month to keep their cards - no matter what their credit status! No point in killing the goose (if you'll pardon the pun!):rolleyes:

[GlosRFC]

Oldham's right...this is just an attempt to make more profits by cancelling the cards belonging to people who pay off their debts each month, but retaining the cards of those who only pay the minimum amount.

While this practice is disreputable profiteering at best (and that seems to be standard for banks anyway when it comes to customers), where they've messed up is by claiming that these people are uncreditworthy.

[John]

It's all my fault!

[orientalexpress]

Seems Egg are withdrawing the credit cards from a good number of folk.....Question is, if they are a bad risk, why the hell didi they give them CC in the first place? :splapme

I still get letters every week of banks trying to give me money.....think I'll take it all and bugger off to live in the Philippines......

people have actually done this, gather as much credit and loans as possible, start a new business in the east and live there.

[presto]

in my lifetime i have spent a grand total of around £50 spread over 2 cards. they were just hassle in setting up direct debits, and i hardly buy stuff with them. i also prefer cash.

though a few weeks back i found out that having credit cards build's up your credit rating - is this true? and to what effect will it help with mortguage applications etc...

[Win2Win]

Anyone see Panorama last night with folk being 'mislead' into rent to buy? A

s far as I'm concerned if you are investing £500,000 (of a mortgage) in a property, and expect the tenants rent to cover the mortgage, on the basis that it is all easy money, then when, as now, the bottom falls out the market it is the investors fault for being greedy & not doing homework.

I know some companies committed fraud (allegedly) in selling the ideas, but it is surely up to the investor him/herself to ensure they are fully aware of everything. I certainly do not put £1000 on a horse without doing a lot of homework first, and £500,000 ......at 6% :yikes:

In the good old US of A, people are suing the estate agents for having bought a house, the market has dropped and the house is worth less. DUH!!! It happens you idiots, that is the risk you made. :headbange

Maybe when the prices go up, so the house is worth more, the Estate agent can sue the owner? :ermmm

[presto]

i watched it last night too. I just have no sympathy for the people complaining. especially the likes of the woman who spent a fortune (£1m was it) on 4 lots of student flats - without even looking at them :yikes:

buying a house is the most significant purchase a person will ever make. So why don't they do there research?

[Win2Win]

i watched it last night too. I just have no sympathy for the people complaining. especially the likes of the woman who spent a fortune (£1m was it) on 4 lots of student flats - without even looking at them :yikes:

buying a house is the most significant purchase a person will ever make. So why don't they do there research?


I was waiting for Jeremy Beadle to jump out on that one :ooo

[vegyjones]

My brother just spent £20k buying 2 properties in the Phillipines to sell on when they are completed - without viewing them.

They are off over there in March when they will have a look.

I told him that he'd better take his protective gear, they're probably built at the bottom of a volcano! :ooo

[Win2Win]

20k :ooo Hope he never used a Western broker, as they rip you off big style (and they say the Philippines is corrupt :rolleyes:).

On top of that, only Fipino's can legally own land/housing. They are only in the process of changing the law, and many Westerner's have been screwed by this....Lack of homework again.

[presto]

I was waiting for Jeremy Beadle to jump out on that one :ooo

now that would be a youve been framed moment :8_1_215::yikes:

was looking at USA property the other week - that is a real shambles, there was a 3 story, 6 bed, 2 bath, detached brick house in Detroit going for $8,400 - mortguage payment's £5 a week :laugh

will be interesting to see what happens here in the comming years, tulips and bubbles spring to mind.