Jump to content
House Price Crash Forum
Sign in to follow this  
Guest

Return Of The Card Sharks: Banks Luring Millions Deeper Into Debt With 'reckless' Credit Cards

Recommended Posts

So much for stimulating the economy by paying wages. Your only chance is to defraud a bank. Not hard work if you know what you are doing and are prepared to move.

Share this post


Link to post
Share on other sites

Remember the "X-files"...............remember that poster in Mulders office........."I want to believe" & a photo of a blag UFO...........These sheep want to believe as well!

Believe that some how, some way they can borrow from one card to pay the others off Then jump ship to the next. Sadly it means yet ANOTHER baleout down the line!

Mike

Share this post


Link to post
Share on other sites

They're desperate to pump the money supply now that houses are dead.

They'll be paying punters to use interest free credit cards before this is all over.

Chinese trade surplus just keeps on rising - giving away free money is the only way they'll keep their plates in the air, until PM's Malacca Straights conflict brings it to an abrupt end.

In the meantime it's probably a rational response to take their free money, as much as you can get your hands on, then default. It's almost a no-brainer now to be honest.

edit: typos

Edited by Frank Sidebottom

Share this post


Link to post
Share on other sites

They're desperate to pump the money supply now that houses are dead.

They'll be paying punters to use interest free credit cards before this is all over.

Chinese trade surplus just keeps on rising - giving away free money is the only way they'll keep their plates in the air, until PM's Malacca Straights conflict brings it to an abrupt end.

In the meantime it's probably a rational response to take their free money, as much as you can get your hands on, then default. It's almost a no-brainer now to be honest.

edit: typos

1. Build up credit rating

2. Borrow to hilt

3. Go on benefits and max out credit

4. Emigrate with tidy pile, or default after having a few years of free fun

Share this post


Link to post
Share on other sites

They're desperate to pump the money supply now that houses are dead.

They'll be paying punters to use interest free credit cards before this is all over.

Chinese trade surplus just keeps on rising - giving away free money is the only way they'll keep their plates in the air, until PM's Malacca Straights conflict brings it to an abrupt end.

In the meantime it's probably a rational response to take their free money, as much as you can get your hands on, then default. It's almost a no-brainer now to be honest.

edit: typos

yep, for anybody who has nothing to speak of or a few grand, no assets but a good credit record, it is as you say a no brainer, You could probably get up to at least 50K maybe more one way or another, given the record defaults that are coming round the corner there will have to be some sort of debt forgiveness ,light touch applied, there are simply too many for it not to happen

Share this post


Link to post
Share on other sites

They're desperate to pump the money supply now that houses are dead.

They'll be paying punters to use interest free credit cards before this is all over.

There was a point - around the time I was getting weekly mailshots of 'interest free' credit card cheques, and my wife was getting regular offers of pre-approved loans - that I wondered when the Credit Card companies would reach the stage of mailing their customers bundles of £20 notes, with some small print saying that they came from the account, and that responsible customers would simply pay the cash back in if they didn't want it.

Share this post


Link to post
Share on other sites

There was a point - around the time I was getting weekly mailshots of 'interest free' credit card cheques, and my wife was getting regular offers of pre-approved loans - that I wondered when the Credit Card companies would reach the stage of mailing their customers bundles of £20 notes, with some small print saying that they came from the account, and that responsible customers would simply pay the cash back in if they didn't want it.

They got to the stage of mailing out "credit card cheques" which almost amount to the same thing! :o

I guess the only really profitable, growth business is sub prime credit card lending, and with a guaranteed bail out by the hostages err tax payers when it goe's t*ts up, why not?

Edited by Sir John Steed

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 142 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.