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Re: credit cards
When I was newly divorced I had to get a job - so I ended up on £11k a year (in London!) and my ex did me out of £12k settlement on our old house - so for the first few years I had to rely on credit cards for necessities too.
7 years later I have nearly paid off what I owe - but one card has increased my limit to £7.5k!! ! And they wonder why people get into debt.
It's made far too easy to get cards and overspend - it seems the quickest way to get your credit limit upped is to do this! Ludicrous!!
And I am continually being sent 'approved' applications for even more cards - I have changed mine over to a low interest rate one to pay off the balance, and have a cahoot one that I use for emergencies - and that's enough for me!
And now my children are adult I can look for a better paid job - but it's hard for young families on low incomes, with no safeguards in place. These companies want their customers to take on more debt - they make their money from the interest paid, after all!
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