Reply to: Interest rates

[DimPrawn]

No, that is inflation kiddo.

HTH

Indeed.

You have to be making more and more money just to stand still.

[d000hg]

Hard?

29.8% interest per year!

If you spend money you haven't got, and haven't agreed to borrow, tough. If you get an emergency short-time loan it will cost way more than that.

[AtW]

It's perma boom gone mad.

No, that is inflation kiddo.

HTH

[DimPrawn]

How is your gold spekulation going?

Very well.

Bought at the bottom, sold at the top.



Everything seems to be making money at the moment.

It's perma boom gone mad.

[AtW]

Indeed. Luckily, unlike you, I'm a lender, not a borrower.

How is your gold spekulation going?

[DimPrawn]

Aye. But that's DimPrawn territory...

Indeed.

Luckily, unlike you, I'm a lender, not a borrower.

[AtW]

Thats nothing look at the adverts for Chav loans, they're over 4000% some of them

Aye. But that's DimPrawn territory...

[amcdonald]

Hard?

29.8% interest per year!

Thats nothing look at the adverts for Chav loans, they're over 4000% some of them

[RichardCranium]

Yes, it is unfair.

But they're the buggers with all the money.

So they get to make the rules.

[AtW]

Hard to see a justification now.

Hard?

29.8% interest per year!

[Cliphead]

On another note I got a text from one of the two Visa card companies I have cards with, ' congrats blah, blah, blah, we have increased your credit limit to £x'. This is now happening every two months on average with both cards, just enticing people to get into debt I reckon. Then a new card will appear gold, platinum or whatever.

I think you can refuse the increase within thirty days if you write to them in triplicate signed by both parents and one grandparent or something.

[Old Greg]

How is it possible to take money without permission from an electronic system that can just refuse to give that money?

Agreed - in the old days it was a disincentive against students going down the boozer with cheque book and guarantee card and writing a cheque for £50 and pocketing the change . Hard to see a justification now.

[AtW]

If they refused to give you that money then they would be unable to charge you the prohibitive rates they can morally, apparently, get away with.

Exactly, so you can't really say you took money without permission (that's theft surely!), effectively this is flexible no questions asked lending rate - ask lots of questions for other "cheaper" "authorised" products and force customers to borrow expensive.

Making cash nicely putting it into risky hands and paying 0% to people who actually own this cash

[shaunbhoy]

How is it possible to take money without permission from an electronic system that can just refuse to give that money?

If they refused to give you that money then they would be unable to charge you the prohibitive rates they can morally, apparently, get away with.

[AtW]

Not money borrowed properly, but taken without permission.

How is it possible to take money without permission from an electronic system that can just refuse to give that money?