*checks statement*

😱

Can’t you sell one of your watches? It’s not likely to greatly impact the cost of your collection is it?..

It’s worse in the US, along with car loan defaults. 

I've thought the car loan bubble is one that could go pop first.  What really would be the impact, though?  

If you are as determined a 0pc offer chaser as me then it's the cheapest way to borrow

And cheaper therefore than saving up for stuff and getting screwed by inflation...

within reason obviously

This has happened so much in the past.

And those with the worst debt have no means of paying it off, and no assets to sieze, or salary to garnish even if sued.

So the banks take a hit, and we all pay a bit more.

And the inevitable bankruptcy is only a mild 12 month inconvenience for people with no real future...

Dave m7, reign in your spending.

Hrm...who carries c/c debt?

I just use mine as a convenience for internet shopping but that does mean about two grand a month goes on it

It's incredibly difficult to get credit nowadays so I don't buy this idea that straw men are racking up millions. 

That's it?

We run all our expenses through the c/c but pay it off at the end of the month.

is it Getty that said

"if you owe the bank $100 that's your problem, if you owe the bank $1,000,000 that's the banks problem"? 

Do they have stats for carried non-0% balances? That is the only meaningful stat. You are retarded if you don't use credit cards for distance/large purchases, and online shopping means these stats are bound to have increased. 

LOL@ banks take the hit. The banks charge 20% as well as every fee they can get away with. If it wasn't for "these people" you'd be paying a lot more for your current a/c, mortgage etc. 

it is not remotely difficult to get credit nowadays 

it is however worth stuffing your wallet with loads of cards so you have, in effect, a massive liquidity facility in case your circumstances worse 

hey when ftse cfo’s do it with their revolvers it’s called liquidity management hey hey

S75 protection and interest free borrowing - whats not to love?

The glory days of stoozing are gone but its still the best way to pay for your bathroom kit in a refurb to chunk costs over time.

Never pay interest though - interest bearing cards you dont clear monthly are a mugs game!

A lot of credit card debt is securitised

i Wonder who will be holding the parcel when the music stops

Wot ash said

Everything on the card, pay it off at the end of the month

1% cash back on all spending and everything covered by s75 consumer credit act - what’s not to like?

"it is not remotely difficult to get credit nowadays"

I have a 999 rating on Experian and they won't give me any more. 

s.75 is a stupid law

So is the European Union (Withdrawal) Act 2018 but circa 33% of the population used to love it. 

Also it isn't stupid if you analyse the commercial nature of a credit card transaction, as ultimately otherwise the consumer is underwriting the solvency of the credit card provider, in addition to the fact that both consumer and retailer are paying the aunts fat fees. But don't let that stop an armchair legal expert (I assume you are in M&A) from speculating. 

Tell me why a credit card company should be liable for breach of contract when I buy a boiler that doesn’t work using a credit card.

No-one would make that law up now if it did not already exist.