Saturday, 10 January 2009

Credit crunch, my arse

Got a letter from my bank today. They're trying to shove another $2,000 onto my credit card limit.

I thought credit was supposed to be limited. I thought there was a crunch, a lack of liquidity, a need for a bail out.

If that's the case, why are banks offering more credit to customers, rather than less? I have been expecting a letter saying they were going to have to reduce my limit, because they couldn't afford to lend as much as they did in the past.

I am completely baffled. I am saving this letter. Next time there are calls for a bailout, I'm going to take it out and mail it to the Treasurer with a "please explain" note attached.

1 comment:

kae said...

Hi
I'll have to blog on my recent experience attempting to get credit.
It's a hoot.

I suppose you've got a good credit rating and that's why they're shovelling money at you!