Credit Cards

Oh yes the government is going to have a strict word with credit card companies about
interest rates.

For the umpteenth time - They Are Businesses!

Someone from the Independent appeared on GMTV and didn't play ball. From the questions asked it seems she was supposed to be all 'Evil, evil they're all evil' instead she explained why they're doing it and in effect blamed the people using them.

See when you put money on your credit card you are Borrowing The Money from that company, normally if you pay it off straight away you incur no charges, if you don't or can't then you get hit with interest.

What did anyone think was going to happen? This is what you signed up for, if you don't want to pay any interest rates pay it off in full; if you can't then don't use your credit card. I'm sorry but how difficult is that?

If you've got a fat wodge of debt in the pipeline then transfer it to a card offering 0% on transfers and then DON'T USE ANY CARDS and just pay off the transfer.

You can't blame any company from loaning you money and then wanting it back. You're the one who wanted the money, you're the one who thought you could pay it back; the company was just giving you want you wanted you know being businesses and all.

Yet here we see companies being asked to go easy on people during this rough time. Why? Why are we the prudent savers being penalised on behalf of the flagrent spenders. They get their goods, get to enjoy them and then have the government in their corner when they can't pay back the loan that bought everything. You can't pay back the money then you send the baliffs in to pick up that 40" Plasma television, the Wii, and that designer pair of shoes.

For anyone arguing that these debts are for staple needs then I'd like to point out that anyone taking out loans to buy food and basic services is a lot more trouble then is being dealt with here