Banks cutting customer’s credit limits impacting on holiday cancellations! Monday 8 September 2008 PDF Print Andrew Jones Sales & Marketing Director – Mantrav International Direct: +44 (0) 1342 300 364 Mobile: +44 (0) 7966 484 323 Email: email@example.com PINK POUND PINCHED! Banks cutting customer’s credit limits impacting on holiday cancellations! As many know many banks in the United Kingdom have been cutting customer’s credit limits for several months. Sainsbury's Bank said it was cutting customers' card limits as part of a “limit reduction initiative”. It insisted it always abides by the industry's rules on treating customers fairly. This has had a direct impact on people who have been booking holidays. Malcolm Hardy from Mantrav International reports “many bookings are being cancelled last minute because people’s credit lines have been halved and people are relying on their credit card to go on holiday!” Typically the Gay Community is less affected by this kind of economic downturn, but Mantrav International who specialise in holidays for the LGBT community have noticed many customers complaining that due to their bank’s lowering their credit limits they are then unable to take their holiday. Andrew Jones, Sales & Marketing Director of Mantrav International says “It’s widely known that because most LGBT people have no dependents, they have more expendable income, than the average straight person.” He adds “the LGBT community is now feeling the pinch, despite paying off their cards at the end of every month banks have oversimplified and sliced all customers’ credit limits drastically! Over the last 6 weeks we have had 8 cancellations all complaining of the credit crunch” On a more positive note Andrew stated that bookings from overseas, Europe especially is increasing because the Euro is slowly getting stronger. Unfortunately the majority of European bookings are last minute and only for short breaks. It still doesn’t make up for the loss of UK bookings because banks are tightening their belts. For further information please contact: Andrew Jones, +44 (0) 1342 300 364 firstname.lastname@example.org This press release was distributed by ResponseSource Press Release Wire on behalf of La Mancha Hotels and Resorts in the following categories: Men's Interest, Leisure & Hobbies, Travel, for more information visit https://pressreleasewire.responsesource.com/about.