Positive Credit Reference

"Square eyes" wrote

But what if the two VISA cards were from two different institutions? [Easily possible.] Also, what if the Mastercard & Visa were both from the same institution? [It does happen!]

"Square eyes" wrote

Credit limits granted from different providers vary greatly. How does your system allow for that?

You must be remarkably slow then. Have you included getting the pen and the cheque book? And what do you do with the cheque, does it miraculously know where to go?

In message , Ronald Raygun writes

I think you are making this up. Cashiers dont 'sign receipts'.

I can only talk of the system I worked on though it is one that is on every ones high street. (Honest) This system was rebranded for another high street store also for anyone looking for a loan but used the same software for scoring.

They didn't consider the type of Visa or Mastercard, just which one. And if you had far too many cards and were and applying for another one, your score took a big hit. The credit limit decision was affected sligthly by your score but was only considered after you had been approved and the type of card you were going for.

There were also lower scores needed for some credit cards - for example, one aimed at students.

Michael

They most certainly do. They stamp and initial the counterfoil.

Yes. I'm just estimating, mind. I'll time myself next time if you like, and report back.

Absolutely. It just jumps into my pocket and stays there until it knows I'm in the bank. Then it just jumps out. Dead clever, eh? Cheques must receive rather more training these days than bank staff.

In message , Ronald Raygun writes

Exactly. Stamp & initial does not mean 'sign'.

In message , Ronald Raygun writes

X-No-Archive: yes In message , john boyle writes

Of course, everyone runs their business in a manner they're comfortable with. Some like mouse management; some prefer cheques and direct debits; some use a mixture of all of them. I fall into the latter category. Direct debits for routine payments, and cheques for other payments. Cheques are always accompanied by a covering letter. It's no hassle because the office is geared for mail. All one has to ensure is that it's ready for collection when the postman calls for it.

I very occasionally make use of a bridging loan facility from a local bank. Payments are always made monthly by cheque. I can't even begin to comprehend the futility of paying off a mortgage by direct debit. I might wish to pay off the outstanding amount in one go or spread paying off over several months. I prefer to be the regulator and so maintain rigid control over my finances.

Some while ago I always used to pay my BSkyB subscription once a year by cheque. BSkyB suddenly took it into their heads to abolish this. The system wasn't broken therefore it had to be fixed. They wanted me to pay monthly by direct debit. They wouldn't entertain a banker's order or monthly cheques. So we parted company. Curious that a company would rather lose a subscriber than accept an annual lump sum.

It does in my book. Ask your dictionary what "to sign" means.

"To attach a signature to"

You need a better dictionary.

A covering letter for a cheque? Seems a bit of overkill. Is it not enough just to jot relevant details (such as account/invoice number) on the back of the cheque? And then only if the payee hasn't enclosed a remittance advice for you send back with your cheque.