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jema Downsizer Moderator
Joined: 28 Oct 2004 Posts: 28237 Location: escaped from Swindon
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Jonnyboy
Joined: 29 Oct 2004 Posts: 23956 Location: under some rain.
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Bugs
Joined: 28 Oct 2004 Posts: 10744
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hils
Joined: 08 Mar 2005 Posts: 568 Location: Nottingham
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chrissy
Joined: 20 Feb 2005 Posts: 238 Location: Pangbourne
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tawny owl
Joined: 29 Apr 2005 Posts: 563 Location: Hampshire
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Posted: Mon Aug 01, 05 4:25 pm Post subject: |
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chrissy wrote: |
I have seen a couple of episodes of "The bank of mum and dad". The attitude towards credit and debt is truly frightening. Live now, but never even think that it will eventually catch up with you. |
Absolutely. I enjoy that programme (even though it has the same confrontational nonsense that most of these suffer from), but I do get exasperated with the people on it. I itch to slap them very very hard with a wet fish. They seem to think the world owes them a living and that all that should matter is going out, buying horrendously expensive clothes and tons of makeup/gadgets (depending on gender), and never worrying where the money's going to come from. One of the big problems (and I've heard a number of people of my acquaintance give this as the ultimate get-out-of-debt-free card) is that they reckon once it gets really bad, they can just go bankrupt. Apart from the fact that I think this is morally reprehensible (IMO, spending money you've been lent and then refusing to pay it back is fraud), they seem to have no concept of how difficult their life will be later; they seem to assume that all that will happen is they won't be able to get a credit card for 3 years, whereas actually, they will probably not be able to get a mortgage, some buisnesses may refuse to employ them, and some occupations will be closed to them. It would be nice to think the FSa would have some impact on this, but can you legislate for people being that thick? |
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Bernie66
Joined: 14 Jan 2005 Posts: 13967 Location: Eastoft
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Posted: Mon Aug 01, 05 8:09 pm Post subject: Re: Easy credit |
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Jonnyboy wrote: |
...just watch those google ads appear!
Went into a well known DIY chain to buy a kitchen, they offered me a 'buy now pay in six months' card with all the usual bells and whistles, massive APR if I don't pay it off etc.
Now, with the uncertainty of a new build I decided to take them up on the offer so I could keep some cash in reserve for emergencies.
The application process took less than five minutes, I only had to give one from of reference, no salary details, no previous address an I now have �5k of credit to use immediately, That limit was self imposed, i could have asked for �25k.
So with very little checking I had the ability to get myself into serious debt, with no realistic chance of paying it back. There is always an element of personal responsibility but the easy availability of credit, coupled with the prevalence of pushy advertising can make it very hard to resist. |
That was not one I should know a little about was it? We are targeted as a store at opening a certain number of new cards each week. The idea is that people, once they have the credit will use it. Alot of staff have a big issue selling credit and are not particularly good at it-either by making no effort or because they find it hard to put their heart into something they don't believe in. Or because they are trained in retail sales not financial sales. |
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Jonnyboy
Joined: 29 Oct 2004 Posts: 23956 Location: under some rain.
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Gertie
Joined: 08 Jan 2005 Posts: 1638 Location: Yorkshire
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tawny owl
Joined: 29 Apr 2005 Posts: 563 Location: Hampshire
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jema Downsizer Moderator
Joined: 28 Oct 2004 Posts: 28237 Location: escaped from Swindon
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Bernie66
Joined: 14 Jan 2005 Posts: 13967 Location: Eastoft
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Behemoth
Joined: 01 Dec 2004 Posts: 19023 Location: Leeds
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Bernie66
Joined: 14 Jan 2005 Posts: 13967 Location: Eastoft
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@Calli
Joined: 03 Jul 2005 Posts: 1682 Location: Galway
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