AcousticallyChallenged Posted November 8, 2022 Share Posted November 8, 2022 23 hours ago, genericUserName said: That sounds like a positive rather than a negative. Most people using car finance are typically in the automotive equivalent of negative equity. I feel especially bad for people driving Range Rovers bought on credit. To be fair, at the moment, you can actually be in the black with a reasonable car. Stock is still in short supply. 1 Quote Link to comment Share on other sites More sharing options...
woolley Posted November 8, 2022 Share Posted November 8, 2022 On 11/6/2022 at 5:51 PM, John Wright said: Any major bank or building society with an existing licence, or seeking to be licensed here, could be required to offer a credit card to Manx residents offering at least the same features as its most popular card in its home market A brave decision, Minister. (Or that could go horribly wrong). 1 Quote Link to comment Share on other sites More sharing options...
genericUserName Posted November 8, 2022 Share Posted November 8, 2022 (edited) On 11/6/2022 at 5:51 PM, John Wright said: Any major bank or building society with an existing licence, or seeking to be licensed here, could be required to offer a credit card to Manx residents offering at least the same features as its most popular card in its home market As the person above hints, that would quite likely have unintended consequence when some or all of them called your bluff. Edited November 8, 2022 by genericUserName Quote Link to comment Share on other sites More sharing options...
woolley Posted November 8, 2022 Share Posted November 8, 2022 On 11/6/2022 at 7:04 PM, Asthehills said: Seems like a gap for Conister to step into to me. Local bank now moving into the UK with what I would assume is a bit of credit history with lots of local residents. Customer service has always been spot on over thirty plus years for me (a bit flakey in the last six months though) and I would happily have a card with them if they made it an option. This rings a very loud déjà vu bell with me. Didn't they do this in the 90s? Or it could have been another locally licensed operator. The card was silver and might have been simply called "ManxCard" or something, but it was a standard credit card (Visa or Master) that you could use anywhere. Obviously died for some reason. 1 Quote Link to comment Share on other sites More sharing options...
genericUserName Posted November 8, 2022 Share Posted November 8, 2022 35 minutes ago, AcousticallyChallenged said: To be fair, at the moment, you can actually be in the black with a reasonable car. Stock is still in short supply. A car is a liability and a depreciating asset. The same as credit cards - buying on finance only makes any sense if you are paying it off without ever paying any interest or fees. 1 1 Quote Link to comment Share on other sites More sharing options...
Max Power Posted November 8, 2022 Share Posted November 8, 2022 17 minutes ago, woolley said: This rings a very loud déjà vu bell with me. Didn't they do this in the 90s? Or it could have been another locally licensed operator. The card was silver and might have been simply called "ManxCard" or something, but it was a standard credit card (Visa or Master) that you could use anywhere. Obviously died for some reason. I imagine that there would be a few hurdles to overcome? 1) Would users generate a credit rating with UK or international credit agencies? 2) Would the card be recognised beyond the Isle of Man? Perhaps if something could be done with MNBA or suchlike it may be a goer? Quote Link to comment Share on other sites More sharing options...
The Voice of Reason Posted November 8, 2022 Share Posted November 8, 2022 31 minutes ago, woolley said: This rings a very loud déjà vu bell with me. Didn't they do this in the 90s? Or it could have been another locally licensed operator. The card was silver and might have been simply called "ManxCard" or something, but it was a standard credit card (Visa or Master) that you could use anywhere. Obviously died for some reason. Are you thinking about Anglo Manx Bank? They had a silver card with if I remember correctly a picture of a Viking Longship on it. I had one Quote Link to comment Share on other sites More sharing options...
forestboy Posted November 8, 2022 Share Posted November 8, 2022 21 minutes ago, genericUserName said: A car is a liability and a depreciating asset. The same as credit cards - buying on finance only makes any sense if you are paying it off without ever paying any interest or fees. Cars are hardly depreciating at present 2 Quote Link to comment Share on other sites More sharing options...
Asthehills Posted November 8, 2022 Share Posted November 8, 2022 23 minutes ago, genericUserName said: A car is a liability and a depreciating asset. The same as credit cards - buying on finance only makes any sense if you are paying it off without ever paying any interest or fees. Plenty of people with cars outside their house worth more than they paid for them at the moment. Its never happened before in my lifetime, but it definitely is for lots of people at the moment. Same old story. If you have spare cash to buy and sell with you can make a killing at the moment. Especially by buying from people who assume their car. Is worth less than it was three years ago. 1 Quote Link to comment Share on other sites More sharing options...
John Wright Posted November 8, 2022 Share Posted November 8, 2022 1 hour ago, woolley said: This rings a very loud déjà vu bell with me. Didn't they do this in the 90s? Or it could have been another locally licensed operator. The card was silver and might have been simply called "ManxCard" or something, but it was a standard credit card (Visa or Master) that you could use anywhere. Obviously died for some reason. 30 minutes ago, The Voice of Reason said: Are you thinking about Anglo Manx Bank? They had a silver card with if I remember correctly a picture of a Viking Longship on it. I had one Yes. Conister previously had Manx Card. And this isn’t the first time they’ve moved into the UK. Did it before and got fingers badly burned. Yes. Anglo Manx Bank had a card in the late 70’s and early 80’s. Silver. Viking ship. Quote Link to comment Share on other sites More sharing options...
The Old Git Posted November 8, 2022 Share Posted November 8, 2022 39 minutes ago, John Wright said: Yes. Anglo Manx Bank had a card in the late 70’s and early 80’s. Silver. Viking ship. I seem to remember they took about six weeks to pay the retailer. Bloody awful company. 1 Quote Link to comment Share on other sites More sharing options...
Steady Eddie Posted November 8, 2022 Share Posted November 8, 2022 32 minutes ago, The Old Git said: I seem to remember they took about six weeks to pay the retailer. Bloody awful company. Yes that card was awful if i remember correctly it was accepted at Wilkins the jewelers and about 4 other establishments. Quote Link to comment Share on other sites More sharing options...
snowman Posted November 8, 2022 Share Posted November 8, 2022 (edited) It's all very well people thinking 'there's one card from HSBC - that's fine, that will do'. BUT - just wait until you are abroad on holiday and HSBC flags up potential fraud. Imagine, you haven't got a backup option and trying to sort that out with a time difference and lengthy phone calls. Having only one credit card is always a BAD idea. People should carry at least two - ideally three.....and carry one of each option - Mastercard / Visa / Amex. Only being able to obtain ONE HSBC credit card because you live on the Isle of Man is disastrous Edited November 8, 2022 by snowman 4 Quote Link to comment Share on other sites More sharing options...
Apple Posted November 8, 2022 Share Posted November 8, 2022 7 minutes ago, snowman said: Having only one credit card is always a BAD idea. People should carry at least two - ideally three.....and carry one of each option - Mastercard / Visa / Amex. Sound advice. I do. Quote Link to comment Share on other sites More sharing options...
The Old Git Posted November 8, 2022 Share Posted November 8, 2022 27 minutes ago, Steady Eddie said: Yes that card was awful if i remember correctly it was accepted at Wilkins the jewelers and about 4 other establishments. We accepted it for a while. They used to have to pay some poor sod to sit in their office on a Saturday just to do manual authorisation of card transactions. Quote Link to comment Share on other sites More sharing options...
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