My daughter is 21 and full time at Art College.She has no job. Yet Barclaycard have written to her inviting her to apply for a Barclaycard Goldfish credit card. The enticements include a £30 shopping voucher offer and 0% APR on all purchases for 3 months. The card is very much positioned as one with which to do your shopping. The letter invites her to switch all her weekly purchases to Goldfish to earn £120 to spend on the High Street.
So I hope you don't mind, Ms Mockler, Customer Service Director at Barclaycard, but I've taken the pack before she has a chance to apply. She already owes on her student loans and on her bank overdraft. In fact, she has SERIOUS BAD DEBT RISK tattooed on her forehead. Most of the small print is too small to actually read but I'm sure it says somewhere she needs to be earning money for her application to be successful. Maybe you could have put it in the letter?
Or better still, not send her the mailing in the first place. Maybe you need to be tighter with your selections or improve your propensity models? Otherwise the bank will build up all these bad debts and we know what happens then, don't we?
