Barclays
Like a lot of people I have a current account with a debit card and a higher interest savings account. I keep as little as possible in the debit account, but due to my own laziness I ended up with a few grand in there, making next to nothing.

I spent it in the run up to my wedding and ended up with about £6 in my account. Needing to buy bits and bobs before payday I transferred a few hundred from savings into my debit account and got on with it.

A week later I got a letter from Barclays stating my account was unusually low and including a form for a pre approved £24,000 loan. 'Call us before 3pm and the money will be in your account the same day'.

THIS is why the country is fucked. They disregarded my savings account, ISA, shares, and simply saw 'shiiit! she only has six quid!!! we can foist a nasty 18.9% loan off on her (cackle cackle hand rubbing)'

I know it's my choice whether to take a loan or not, that's not the point. But if they did indeed disregard my other savings, then they'll be sending pre approved loan offers to people who don't have them, and find it all too easy and tempting to tie themselves up in years of debt.

I know a girl who, when depressed (not that it's an excuse but she certainly wasn't thinking rationally) managed to get £45k of credit on a £20k wage. Fucking banks. They were offering her more cards and more credit every time she went in or called, even if she was calling to try and pay some off! Fucking fucking banks.
(Northern Lovely, Fri 17 Jul 2009, 12:39, 4 replies)

I took out interest free finance
when I bought a car once, even though I had saved up enough to pay for it with cash. I figured that the money was better to be in my account as in theirs.

But every couple of months for the next three years, I got a phone call from the finance company offering me a loan. "Don't you perhaps want a new television, or a nice holiday, Dr K2k6?"

Sod off. If I had to take a loan to go on holiday, I'd stay at home instead and save up until I could afford it. Unfortunately, that seems no longer to be the way the world works.
( K2k6 has a proper job these days, Fri 17 Jul 2009, 12:47, closed)

Totally agree.
I don't have a problem with credit at all, if it's used for sensible things like a house, or an affordable car to get to work, but spending money you don't have on something you don't need is totally alien to me. Everything I own I saved up for and everything I want and don't have, I cannot afford. And I'm OK with that.
(Northern Lovely, Fri 17 Jul 2009, 13:14, closed)

...which is great for you
...but if banks can make money by allowing people who have a different worldview to do things differently, why shouldn't they?

(note that the problems in banking don't stem from bad unsecured loans, that business is still profitable - it's securitised mortgages and corporate loans that are the problem).
(stalinism, Sat 18 Jul 2009, 14:09, closed)

actually...
when depressed (not that it's an excuse but she certainly wasn't thinking rationally)

It depends how depressed she was. She may well have been not in a fit state to sign a contract. Real depression can totally screw your brain.
( Sextant goes to him is emotionally erect, on this day, Mon 20 Jul 2009, 0:48, closed)