Banks Encouraging Debt - WTF?

<rant>
I had to go to the bank earlier to get a few quid out for the possible purchase of a new bike.

While I was in there the woman wasn't being too discreet about counting the money out and giving it to me, which bearing in mind it was a few quid and the bank was packed was a bit disconcerting.

Anyway, after she had given me the money she gave me my bank card back with a little business card type thing and stated to me that this is illustrating how much money I can borrow on an unsecured loan if I want one. The amount was £24,600 or something like that.

She also said that it was available to me today if I wanted to go and see someone. I just said no thanks and went on my way.

I had not gone in there to borrow money and none of my accounts are currently in O/D yet they are trying to get me to take a massive loan.

That's just out of order, if I had been someone who was feeling the pinch a bit more I could've been tempted into taking a loan that I could ill afford to pay back. That's just out of order.

The same bank 'Barclays' also recently sent a letter saying that all accounts with O/D facilities were being given an additional buffer, can't remember the sum nor the terms attached, but it was down to the individual to opt out, which we had to do.

This kind of selling is IMO totally out of order in times like this.

</rant>

Debt is how banks make money, of course they want you to take out a loan

If you went into a bike dealership cash-in-hand ... they would still ask you if you wanted to get on HP ... why?!!?!? ... coz that is how they make money

Yeah I hate banks with a vengeance. They are all vultures.

I realise that is how banks work, but to actually do that is wrong......

[northwind]

It's just advertising. Are Suzuki encouraging debt by offering 0% deals and tempting you by having bikes in the window? Is tesco encouraging you to be fat by selling pork pies?

'possible' purchase of a bike?

I agree with the Apester on this. They are all greedy vultures.

Originally Posted by muffles

'possible' purchase of a bike?

Did I say that out loud? lol......

[Stu]

totally outrageous that banks continue to offer banking services in this day and age!
They should all be closed down forthwith.

[Stu]

Originally Posted by krhall

none of my accounts are currently in O/D

you look like a prime candidate for someone who can repay the loan (given the limited info available)

yet they are trying to get me to take a massive loan.

That's just out of order, if I had been someone who was feeling the pinch a bit more I could've been tempted into taking a loan that I could ill afford to pay back. That's just out of order.

If they're offering you £24K unsecured I would imagine they have history of a good income going into your multiple accounts