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(no subject)
2012
unknownj
http://business.guardian.co.uk/story/0,,1853752,00.html

Is this news?

I mean, the obvious answer is no - the article dates from two weeks ago, so this is in fact 'old news', but nevertheless, let's carry on..

Honestly, did anybody think that we didn't have an easy-reference score to let staff know the quality of a customer's relationship, and how we rate their creditworthiness? Of course we need a means of determining what sort of credit line to offer a customer, without needing to run credit searches against them every time they want to adjust their overdraft limit etc..

And of course we don't volunteer it to customers - no point in offending half of them, after all.. Nobody wants to find out that they're not in the best risk band, after all.. And I'm not sure why customers would need to know - the intricacies of the decisioning process are beyond just about everyone (including me), so knowing a number won't help them to understand why they didn't get the increase to their credit limit that they wanted..

I just find the whole thing rather amusing, as if the risk banding is some amazing piece of information we're holding, rather than one figure out of a few dozen.. I won't go into what else is held, but still - risk band is just part of the picture, and I can't imagine it really being newsworthy..

Incidentally, my current risk band is five.. It used to be nine, when I had an overdraft, two credit cards, and a loan, then dropped to three for about a year.. It moved up to five when I got my platinum card, to reflect the potential risk that the additional credit represents. However, it's likely to drop again soon, because of the specific behaviour on my credit card (i.e. - paying the balance in full, never late, never being charged interest).

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> the intricacies of the decisioning process are beyond just about everyone (including me)

Well, only the cool kids get to work in Credit Policy ;)

(I've spent the last 14 months implementing credit card decisioning strategies!)

They offered me a job there, but I told them no.. It's not my fault that Credit Policy don't pay enough ;o)

Anyway, I know what your decisioning strategy is - by studying the article in The Guardian closely, I've determined that you check the risk band, and base your decision on the arbitrary score:
1-2 offer platinum
3-4 gold
5-6 classic
7-8 refer to Barclaycard
9 refer to Capital One

And the risk band itself is fairly easy to work out.. Subtract the customer's age from 100, and divide by ten. Add a couple of points if they have a foreign sounding name.

Am I close? :o)

> They offered me a job there, but I told them no.. It's not my fault that Credit Policy don't pay enough ;o)

Really? Any idea whereabouts? Anyway, aren't you Marketing scum these days? :p

> Am I close? :o)

I do hope you're not implying that we wouldn't lend to people we'd consider to be bad customers?

(Dear anyone reading who may be from Watchdog - that was a joke, stop slagging us off already and maybe start educating consumers in how to manage their money)

Just after I got the Band 6 in MI & Planning, Alan Wilson from Credit contacted me and offered me a job on the basis of the Band 5 interview I'd done a while back.. But I said no, since I'd only just started the new job.. Have you forgotten all this? :oP

And we would never offer a credit card to bad customers. Not when we can sell them a consolidation loan at a ridiculous APR that they'd never be able to pay back, thus encouraging them to go forth and kill themselves, winning us more publicity..

So all finished at Lloyds now?

> Have you forgotten all this? :oP

It's vaguely ringing a bell now, but it didn't mean anything to me then! Alan Wilson!!! You two would have got on like a house on fire. He'd left by the time I started, but then came back as a contractor a few months ago. Very, very funny man!

> So all finished at Lloyds now?

Yeah. Last day was Thursday and leaving do was last night (hence me only just waking up - urgh!). I'm really glad I went for it though, it's been the best 14 months ever!

Yeah, I got on with him quite well in the interview I originally had for the band 5 job (which was also in his area).. Still, the problem with Brighton would still remain - not much pay, high cost of living, very little opportunity for progression.. Other head office sites are considerably better..

And glad you enjoyed it, and that you didn't regret going for it, in light of everything.. :o)

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