12 January 2016

Borrow less and be punished

Today I learned bits about how banks are dealing with risk.

I was refused a credit card application, apparently because I was asking for a credit limit which was just above the one I had.  

Only that the one I had was too low.  The system did not understand why my limit was low.  Lower than what seems to be a minimum level.  According to someone. 

Dear system: I chose this limit.  I was offered a very high one like today a while ago.  But I refused the offer because I try to live within my means.  I could not care less if my limit was below the minimum.

Only this time the system thought that this limit had been imposed on me after some past misdemeanour.   

So maybe this system thought that it was another system which refused me before, and decided not to take risks.  

We live in an era of expert decision support systems.  But it seems that some systems decided they can make decisions for us.  

Because they know best.  


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