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Uncle Urchin

boring but will make you think

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my daughter is 19 and studying law at bristol uni...she has a small family trust fund that pays her 25 grand a year and also works earning 200 quid a week between her studies. Good on her as she doesn't need to...

 

anyway...she went to her bank where she has a current account and a deposit account and a credit card and a switch card...she has no student grants nor debt...the credit card is paid off every month on the due date...

 

'can I please have a no 2 account mr bank manager as I want to start moving all my overheads into my name instead of the trust so that I can build up a credit rating....''

 

''no chance'' says bank manager...''you do not appear on the radar with any overheads nor outgoings in your name...your credit rating is too low''

 

''but surely'' says said law student ''thats the whole idea of a credit rating....no debt no borrowings no pressure''

 

''sorry'' says said banky...''you have to have debt to get a good credit rating''

 

now that confused the fck out of me.....

 

makes you think though duntit.....what sort of a world do we live in when the person with no debt is placed as a greater credit risk than the one with plenty of debt...?? <img src="/forum/images/graemlins/blush.gif" alt="" />

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A friend of mine had a guesthouse that went bust, he owed money, was refused credit until he gained full time employment, and the ammount was shamefull, thousands of pounds were available even though he owed others, MAD MAD WORLD WE LIVE IN

 

A Neighbour who operated under her maiden name, married name and adopted name to get credit, taking the p!ss and got away with it for years

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