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Originally Posted by kronas
having watched a program about credit card debts how can people rack up debts of £20,000 + they make it even worse consolidating the multiple debts in to one through the loan adverts you see on TV and then when they get sucked in to them they end up paying around 15% interest on the one huge loan its totally ridiculous how easy it is to get credit even if you declared bankrupt
i assume in the near future i shall be obtaining one i would put safeguards in place such as an extremly low credit limit a controlled astute spending regime spending only what i can on essential items people want too much luxury these days and simply cannot afford to so get in to debt
frankly they deserve to be debt ridden and have there houses taken away if they cannot control themselves
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I dont know if anyone else has allready mentioned it, but I have had letters from the credit card company in the past saying we have increased your card limit to £X's. this is done automatically but I guess you could ring up and ask for it to be reduced again.
I was using my credit card a lot for hotels, fuel, expenses and business lunches etc and they were only too happy to automatically increase my limit. I was spending a few thousand a month but it was cleared every month much to their annoyance I expect. :p