Hearing about things like this........Over 65''s will be pleased (http://www.rte.ie/news/2008/0828/equality.html)
Get on that granny! Good for her! :D
Good. Lending should not be based on a rigid system. If her credit record is good then she deserves the load as much as any 64 and 1/2 year old.
It's bad rules for loans that have dragged us into the beginnings of a recession.
Quote from: T-Bag;242553It's bad rules for loans that have dragged us into the beginnings of a recession.
True...and why shouldn't a 65 year old be able to take out a loan? My Uncle is 70+ and until recently he still worked as a programmer for £50 per hour - maybe he would be refused?
Quote from: Jabbs;242555True...and why shouldn't a 65 year old be able to take out a loan? My Uncle is 70+ and until recently he still worked as a programmer for £50 per hour - maybe he would be refused?
It was before my time but you used to have a bank manage who'd make decisions and know a bit about all his clients so could make a judgement call, not you've got a computer. I'm guessing they check age, check collateral like houses etc, check credit rating and then make the decision: Yes we can milk them for more money.
I went to open up a student bank account once and made the mistake of saying I didn't want an overdraft, credit card and said I might like to move a lump sum into a savings account if they've got one, got rejected. Went to another bank and said "Yes I'd love an overdraft", didn't mention the lump sum and bingo I get an account. It's all about keeping people in debt for as long as possible, so give them an overdraft and some loans when they're young and they can milk you all your life, when you're old they don't want to know.
Quote from: T-Bag;242590It was before my time but you used to have a bank manage who'd make decisions and know a bit about all his clients so could make a judgement call, not you've got a computer. I'm guessing they check age, check collateral like houses etc, check credit rating and then make the decision: Yes we can milk them for more money.
I went to open up a student bank account once and made the mistake of saying I didn't want an overdraft, credit card and said I might like to move a lump sum into a savings account if they've got one, got rejected. Went to another bank and said "Yes I'd love an overdraft", didn't mention the lump sum and bingo I get an account. It's all about keeping people in debt for as long as possible, so give them an overdraft and some loans when they're young and they can milk you all your life, when you're old they don't want to know.
Agreed. If you are squeeky clean they don't want to know and conversely if you go too far into debt and have problems, again they don't want to know. Seems like if you are just below the line as in T-Bag's example, then they like you.