29 May, 2012
Let the good times roll -- again
Dear Mr Greenwood,
You have been personally pre-selected to apply for our LiveNow PayNever Visa card.
UK Welcome Team
Haven't had one of those for a while. During the magic years when the boom-bust cycle had, apparently, been abolished by Gordon and inexhaustible supplies of money grew in server farms, I came to expect several such offers a week. Came the Credit Crunch® and all of a sudden there was a blissful silence, and a unaccustomed emptiness in the paper recycling bin.
Does this mean we can now go back to borrowing money from ourselves, secured against magic circular IOUs that we don't need to worry about so long as they keep moving quickly enough between financial institutions that the small print cannot be read, and so long as nobody, ever, mentions actually redeeming them (other than against a new IOU)?
No, thanks all the same, Mr Knott-à-Crouque. I do have one credit card, which these days is used almost exclusively for on-line purchases and I settle the bill in full each month. You don't want to be dealing with the likes of me.
I suppose it is manageable debt that they want you have. Perky, as it were, but not full on in-your-face-pig amounts.
Mind you, I am always reminded of the old saying: Borrow ten thousand and you have a problem. Borrow ten million and the banks have a problem
I got rid of all my debt some years ago since I got fed up with working for Mr Barclaycard as well as the Taxman.