FNB Credit Card

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BigBear

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:confused:

Just got this SMS.. FNB - Due to responsible lending we have systematically adjusted your limit on your FNB Credit Card

:wtf:
 
BigBear said:
:confused:

Just got this SMS.. FNB - Due to responsible lending we have systematically adjusted your limit on your FNB Credit Card

:wtf:
Click to expand...

You should probably ask to Mr Responsible Lending ? If their sentence was at least written in proper english such "Due to responsible lending requirements/regulations".

Sounds a bit like a scam !
 
f2wohf said:
You should probably ask to Mr Responsible Lending ? If their sentence was at least written in proper english such "Due to responsible lending requirements/regulations".

Sounds a bit like a scam !
Click to expand...

If only it was checked now CC and Petro Card Limits Reduced.. Gonna phone FNB and ask what is up..

:confused:
 
They would only do that if a means test revealed you were being offered to much credit but without asking you how would ascertain that?
 
airborne said:
What, what?
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Not sure if you were being sarcastic, of course the bank will check your credit record if you have a credit card.

airborne said:
Do us all a favour and tell everyone what's there in a nut shell.
Click to expand...

22.8 We may, at our discretion and at any time, reduce the credit limit on your Credit facility. We will notify you at least 5 (five) business days before we reduce your credit limit in terms of this agreement. However, in certain circumstances, we will reduce your credit limit and provide notice of the reduction simultaneously.
 
airborne said:
What do you mean, they correlate data from credit bureaus etc and use that to check the account holders means?
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Yes, together with other things. For instance, if you're a banking client then they probably know 100% of what's going on in your financial life - without needing to know what's up at the bureaus.
 
But the point I was making is would they feel the need to use credit bureau info as a form of accessing your means test?

If I remember correctly from the last free credit report I got the amount you tell certain institutions you earn each month is recorded on your credit bureau profile, perhaps the op told his credit card issuer one thing but his credit bureau profile lists it as a lower figure.

The only time they will reduce your access to credit is if they see the amount offered is too risky in terms of your credit worthiness. My experience is they nag the hell out of you to increase your limit if they see you as an attractive borrower.

If I was the op I would definitely be interested in finding out why they reduced his limit, it may be something purely technical, perhaps they changed the way they apply their means test etc.
 
airborne said:
But the point I was making is would they feel the need to use credit bureau info as a form of accessing your means test?
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Yes. If he took up credit at another institute, it would most likely trigger a decrease in his credit limit. I don't know how the internals of FNB works, but it is I would assume standard practice. (Especially when you consider that if you give a guy too much credit it's a write off waiting to happen.)
 
I got this yesterday, but I think I know why (my error). I slipped up by R120 on the repayment last month and asked if I could just add it on this month.
No big deal, I want to cut this credit card anyway, they are just evil.

My experience with FNB has not been great. Transferring funds to clients or my other bank bank accounts takes up to 6 days at times often resulting in a late payment somewhere. Standard bank are instant or at least next day.

I was lured by the ipad deal at had thought about moving everything to FNB......but I'm in the process of getting out FNB now. Just make more sense to me.
 
Never had issues with FNB and efts always reflect the next day if done before around 5pm.

If you do move the only other option is Capitec, I definitely wouldn't move to one of the other established banks, FNB is the best of the worst!
 
airborne said:
Never had issues with FNB and efts always reflect the next day if done before around 5pm.

If you do move the only other option is Capitec, I definitely wouldn't move to one of the other established banks, FNB is the best of the worst!
Click to expand...

Same here. I have done transfers/payment before 6 am, reflects at around 1 pm the same day during the week and depending how busy they are... with other banks you can wait three working days before funds are transferred
 
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