Is it their job to get people into debt?

RAS

harrys_dad wrote: »

If it was a customer facing job I guess they thought you would not "sell" enough store cards.

No back room.

Just think that they did not want me saying that to other staff and "undermining" their corporate spiel about how wonderful their product was; they were early adopters and made a lot of money from the scheme.

allybee101

I have seen a drop off in store card selling recently (although I've only bought a couple of items recently in shops that have them). They seems to do a lot less hard sell these days.
I always reply with a polite "no thank you", and nearly every time they would come back with a second line about 10% off purchases for the first month, or some such offer. They don't like taking no for an answer.

Sounds like they thought you wouldn't toe the party line, RAS.

aridjis

a credit card is really a debt card, it's just that credit sounds better!

Yes, banks make money by lending money. if no-one ever borrowed money from them they'd have no revenue from the interest on the loans.

but there's still no excuse for irresponsible lending.

R_P_W

panagia wrote: »

a credit card is really a debt card, it's just that credit sounds better!

Yes, banks make money by lending money. if no-one ever borrowed money from them they'd have no revenue from the interest on the loans.

but there's still no excuse for irresponsible lending.

Irresponsible lending isn't really possible without irresponsible borrowing though is it.

So the OP got offered a finance product while standing in a bank. How strange!

Go cashpoint next time if its a problem

[Deleted User]

R_P_W wrote: »

Go cashpoint next time if its a problem

I don't have a card.

datlex

Credit card used in addition to money in current account/saved up = debt card.

Credit card used in place of money already saved up on large purchases = protection card.

Credit card used in place of current account possibly = cash back/rewards cards.

foxgloves

I can see both sides here. I once had a phone call from my previous bank (already had a loan from them & always overdrawn back then) offering me a credit card. My response was 'No thanks', which clearly floored her. Was then given several mins really hard sell in which she got noticeably cross with me because I kept saying that nobody can be coerced into having a credit card & I was perfectly happy without one. A year or two later I did get one. I had read in Martin Lewis' book that they can be useful to build up points/rewards if paid off in full each month. I did that religiously.....except the paying it off in full bit, naturally, so it wasn't long before I'd got nearly a grand of debt on that too! Anyway, LBM struck, debts slowly got paid off & when I was in control of my finances, I did start using my credit card to benefit myself. Partner & I each have 1 credit card each, both offering rewards we like: M&S vouchers & John Lewis vouchers. We have a budget for petrol, so all petrol expenses go on partner's card. We also have a strict budget for groceries, so most of that spend goes on my card. Additional PLANNED expenditure, such as saving up for a large item - i.e fridge - would also go on card, but both cards are paid off in full every month without fail. It does take some self-discipline, but the vouchers are very useful. We also figure that we've paid enough interest over our overspending years so now it's our turn to get something back. So that's the positive side. Everything comes down to self-discipline, really, but I do agree with bedsit bob about the ease with which banks offer credit. They have lent very irresponsibly over the last couple of decades, but they are really only after profits. As we paid off each loan, we very quickly received a letter from the lenders offering us the same or more again. We haven't succumbed, I'm pleased to say.