Unsolicited credit cards (308-57)

I get really irritated by unsolicited credit card ‘approvals’ that drop through our door. They don’t come too often, thankfully, but one came through recently – essentially saying ‘apply now and we can offer you a mere 18.9% APR’. NO THANKS.

I’m of the opinion that this kind of unsolicited approach to people going about their normal lives should be completely banned. For one it’s thoroughly irritating, and secondly it’s just hooking people into yet more debt – usually at a ridiculous APR if you read the small print (our record is 50% APR; how would you ever pay that off??). Finally, it also wrecks your credit record because half the time (in my experience) if you do try to apply you get refused anyway, and this gets marked on your credit record. Grrr.

In fact, I got so irate by this unsolicited letter, which even included a mocked-up credit card in an attempt to catch my eye that merely contributes to the UK’s landfill problem, that I added my thoughts to the UK government’s credit and store card consultation (http://www.bis.gov.uk/creditconsultation) - immediately I felt my rant ease my wrath, and I’ve done my bit for democracy!

~ by diaryofadebtor on November 4, 2009.