A Cautionary Tale

Discussion in 'Motorhome Chat' started by emmitdb, Jan 22, 2014.

  1. emmitdb

    emmitdb Funster

    Aug 14, 2009

    Many of you will recall that last Autumn, with a fanfare, the Banking System, I think I got that first word right, underwent a massive shake up.
    For the first time, customers were entitled to move their accounts, within seven days and the Banks had to do all the running around.

    Thousands of people took up the offer with people changing to a 'Better' Bank (or so it seemed.)

    I/We were one of those but in the past week it has bitten us in the Financial bottom.

    Me and her have decided, after years of shilly shallying to sell the 'tin tent' and buy a motorhome. After doing umpteen miles and seeing umpteen 'vans we have settled on one. (No names, no pack drill until it's in my hot sweaty hands.
    I went to 'My' bank and asked for a loan. They started talking about an APR of 6.8% but the final offer became..... wait for it......22.9%. :Eeek:

    After recovering I took it upon myself to discover why, after all, this same Bank gave me a credit card with £8000 limit at 12.9% Today, I found the answer. It would appear that this Bank are scared stiff of offering me a low rate because I haven't been with them for six months??? Strange but true. I even thought it might be some glitch with a credit score but mine is better than the bloke at No.11.

    So, if any of you out there is contemplating a 'BIG' purchase, take the above info. on board.
    If you are lucky enough not to need the dosh then fair enough but I'm just cautioning you against moving Banks and then asking them for money.
    It would seem that it's a case of 'Better the Devil you know'.
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