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Not a good time to use our credit cards

xarjia
xarjia Posts: 13 Forumite
in Budgeting & bank accounts
hey guys,

just read this article which says bank charges for borrowing money is going up because banks are at a loss and want to increase their profit.

is this fair? no it isn't. how much more can we afford to pay them?

http://business.timesonline.co.uk/tol/business/money/borrowing/article3031063.ece

xarjia

Comments

  • hopon
    hopon Posts: 137 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    You don't have to pay them anything, just don't spend what you haven't got!!

    It's perfectly fair - they set the rates they'll charge you can either accept it or look elsewhere.
    ..........Insert amusing tagline here..........
  • DaisyFlower
    DaisyFlower Posts: 2,677 Forumite
    Agree with Hopon, its their money they can charge people what they like to borrow it.
  • Jonbvn
    Jonbvn Posts: 5,562 Forumite
    Part of the Furniture 1,000 Posts
    I will use my credit cards extensively this Xmas. However, I will not pay a penny in interest or charges, since they will be settled in full.

    CC's and store-cards are by far the most expensive way of borrowing.
    In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:
This discussion has been closed.
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