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so anyways applied for a loan from AIB for 3k (towards a new car) but they refused fair enough given the above BUT the thing that bugs me is that my credit limit on my card is €3,600 and I could just as easily (though it would be very stupid) withdraw 3k from the card into my account
so in other words the won't loan me 3k if i apply for it but are fairly happy to let me rack up €3,600 (if i wished) on my credit card
does anyone see the logic in this one or am I completely missing something here?????
Of if you need a loan then shop around for the best deal - don't just restrict yourself to financial institutions with whom you already have a relationship.
I had a similar case before. When I was a student I had an account with AIB. They gave me an overdraft, a credit card and a loan but when I applied for a laser card I was told they didn't give laser cards to students!!!
They'd give me all the credit I wanted but not easy access to my own money. It was a while ago though so I'm sure things have changed.
have banked with AIB for years and about 7 months ago got one of their credit cards , balance paid off in full every month / NEVER missed a payment on it (except for last month but i know that doesnt effect your credit rating anyways once minimum is paid)
so anyways applied for a loan from AIB for 3k (towards a new car) but they refused fair enough given the above BUT the thing that bugs me is that my credit limit on my card is €3,600 and I could just as easily (though it would be very stupid) withdraw 3k from the card into my account.
If you default on a credit card versus a bank loan are different parties involved in trying to reclaim amounts owed ?
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