"It's Playtime"!!!

Starry-eyed_surprise

This, believe it or not, is how a letter to me from Virgin [STRIKE]Debt[/STRIKE] Credit Cards was headed in large (over 1cm high) capital letters accompanying my new card. I think this glosses over the fact that spending money on [STRIKE]debt[/STRIKE] credit cards is not to be taken lightly. The same letter then invites me to "let your card off the leash" and tells me to "use your Virgin Card in 20 million places around the planet and grab cash [i.e. grab more debt] from over 630,000 cash machines." I think this is irresponsible advertising. Managing money is hard enough without lenders taking this irresposible attitude. It might be more honest if they called it a debt card with a maximum debt - not credit - limit, and put warnings - like they do on cigarette packets that debt can seriously damage your wealth. But playtime???? I don't think so. Has anyone else come across this knid of irresposible marketing? :mad: :money:

Robert_Sterling

I should think we all have.

I can remember the days when "Craven A" was a well known brand of cigarette.
The advertisements said:-

"For your throats sake smoke Craven A."

Read the advertisements here

Katmoo

It is bad, but not unexpected.

At least everyone on this site has wised up, but what about when you hit 18 and you are first allowed these cards?

I think its fair to say that not many 18 year olds have any idea about the true value of money, and how hard it is to pay debt back.

My first problems with money mangement all started when I moved away from home to uni. It just seemed like free money at the time, but now 12 years later I have learnt the hard way.

It is irresponsible advertising, but what can you do?

skylight

I recived the mothercare catalogue over the weekend. In the front pages (and at only 19.9%) the title for their Mastercard is emblazoned across the top:
Make Motherhood even more rewarding.

So. I'm a naff mother if I dont have your card am I?? Thats the implication - not the fact in the small print that you are rewarded with points with your purchases (ha!)

Saucepot

I had a virgin card last year for the 0% BT. They were forever sending out CC cheques and invites to spend. All of which would have negated the 0%. Go's to show, buyer beware.

Still they did the cards in a choice of colour. I chose pink. I didn't want to spend on it as the card looked a bit gay. So I paid the debt down for 9 months, without being tempted.

When I cancelled they offered to extend the 0% period, useless to me as I'd transfered the last bit to another 0%, but it's worth knowing that if you still have some debt after 9 months they might extend the period by a bit if you ask.

Wyndham

The bottom line is they make money if you borrow from them, so they want to make as much money as they can, so want to encourage you to live a dream. Irresponsible, probably - but there is also personal responsibility and people need to know how to say no.

I'm greatly in favour of money management skills being taught in schools, which would help, but doesn't seem to happen. But if you've worked through a few hypothetical examples and seen the cost when the money isn't on offer, it might make you think twice when it is. Then the journey isn't quite as difficult for the 18 year old to make - in theory at least.

As for mothercare - well, mothers have nothing but guilt piled on them from even before the baby is born - i.e. this is best for your baby, and how could you not want what is best for your baby? Again, it's about looking behind it and realising that children need far more than just material things - and thankfully love is still free!

In the words of another rather different campaign from the 80s, JUST SAY NO! The bright, shiny objects are probably not worth it.

daveboy

Katmoo wrote:

It is bad, but not unexpected.

At least everyone on this site has wised up, but what about when you hit 18 and you are first allowed these cards?

I think its fair to say that not many 18 year olds have any idea about the true value of money, and how hard it is to pay debt back.

My first problems with money mangement all started when I moved away from home to uni. It just seemed like free money at the time, but now 12 years later I have learnt the hard way.

It is irresponsible advertising, but what can you do?

Well said, my problems came about soon after I was old enough to have a card...then a loan. Couldn't agree more with your comment.

Katmoo

Well done on being debt free! It will be a long time before I am in that boat.

Keep plugging I guess....

pfpf

Saucepot wrote:

Still they did the cards in a choice of colour. I chose pink. I didn't want to spend on it as the card looked a bit gay.

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