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[Nickbat]

"Credit card cheques will be banned as part of government plans for consumer protection due to be unveiled."

http://news.bbc.co.uk/1/hi/business/8129555.stm

I have used these as a convenient way to pay for a car, an income tax bill, and other situations in which I need a little time to come up with the "readies".

When will the government stop banning things left right and centre?

Furthermore, considering its own borrowing, hasn't it got a f*cking nerve telling its citizens to cut back?

FFS.   

[crazyjoetavola]

"Credit card cheques will be banned as part of government plans for consumer protection due to be unveiled."

http://news.bbc.co.uk/1/hi/business/8129555.stm

I have used these as a convenient way to pay for a car, an income tax bill, and other situations in which I need a little time to come up with the "readies".

When will the government stop banning things left right and centre?

Furthermore, considering its own borrowing, hasn't it got a f*cking nerve telling its citizens to cut back?

FFS.   

.....I would consider myself to be a kindred spirit with you in most things Nick but on this I'm not so sure :-/

This facility has been made available by the card providers purely to grab even more of our money, in terms of the extortionate charges made for it.

It is also an admission by that useless lot in government that things are out of control where the availability of ready credit is - however expensive in relative terms.

Card rates are already immorally high and this type of facility really does nothing but bolster the providers already substantial bottom line.

[Nickbat]

"Credit card cheques will be banned as part of government plans for consumer protection due to be unveiled."

http://news.bbc.co.uk/1/hi/business/8129555.stm

I have used these as a convenient way to pay for a car, an income tax bill, and other situations in which I need a little time to come up with the "readies".

When will the government stop banning things left right and centre?

Furthermore, considering its own borrowing, hasn't it got a f*cking nerve telling its citizens to cut back?

FFS.   

.....I would consider myself to be a kindred spirit with you in most things Nick but on this I'm not so sure :-/

This facility has been made available by the card providers purely to grab even more of our money, in terms of the extortionate charges made for it.

It is also an admission by that useless lot in government that things are out of control where the availability of ready credit is - however expensive in relative terms.

Card rates are already immorally high and this type of facility really does nothing but bolster the providers already substantial bottom line.

Negative to that Zulu. For the sharper ones amongst us, using credit cards is infinitely cheaper than using bank facilities. Last year I paid my income tax bill with 0% finance. Only dummies pay through the nose.     

[Vamps]

"Credit card cheques will be banned as part of government plans for consumer protection due to be unveiled."

http://news.bbc.co.uk/1/hi/business/8129555.stm

I have used these as a convenient way to pay for a car, an income tax bill, and other situations in which I need a little time to come up with the "readies".

When will the government stop banning things left right and centre?

Furthermore, considering its own borrowing, hasn't it got a f*cking nerve telling its citizens to cut back?

FFS.   

.....I would consider myself to be a kindred spirit with you in most things Nick but on this I'm not so sure :-/

This facility has been made available by the card providers purely to grab even more of our money, in terms of the extortionate charges made for it.

It is also an admission by that useless lot in government that things are out of control where the availability of ready credit is - however expensive in relative terms.

Card rates are already immorally high and this type of facility really does nothing but bolster the providers already substantial bottom line.

Would this not be something that should be controlled, rather that the use of......

[Nickbat]

Furthermore, when I bought my Omega, I paid with a cc cheque and I drive the car away there and then. Had I paid with a conventional cheque, it would not have been guaranteed to that amount (max £500?), so the alternative would have been to traipse across London with a few grands' worth of cash in my bag (not good!). I have found cc cheques to be incredibly convenient and, in case you wondered, I am not insolvent. 

[crazyjoetavola]

"Credit card cheques will be banned as part of government plans for consumer protection due to be unveiled."

http://news.bbc.co.uk/1/hi/business/8129555.stm

I have used these as a convenient way to pay for a car, an income tax bill, and other situations in which I need a little time to come up with the "readies".

When will the government stop banning things left right and centre?

Furthermore, considering its own borrowing, hasn't it got a f*cking nerve telling its citizens to cut back?

FFS.   

.....I would consider myself to be a kindred spirit with you in most things Nick but on this I'm not so sure :-/

This facility has been made available by the card providers purely to grab even more of our money, in terms of the extortionate charges made for it.

It is also an admission by that useless lot in government that things are out of control where the availability of ready credit is - however expensive in relative terms.

Card rates are already immorally high and this type of facility really does nothing but bolster the providers already substantial bottom line.

Negative to that Zulu. For the sharper ones amongst us, using credit cards is infinitely cheaper than using bank facilities. Last year I paid my income tax bill with 0% finance. Only dummies pay through the nose.     

.....and that's where the majority of the fallout from this rests unfortunately, Nick

[crazyjoetavola]

Furthermore, when I bought my Omega, I paid with a cc cheque and I drive the car away there and then. Had I paid with a conventional cheque, it would not have been guaranteed to that amount (max £500?), so the alternative would have been to traipse across London with a few grands' worth of cash in my bag (not good!). I have found cc cheques to be incredibly convenient and, in case you wondered, I am not insolvent. 

...It didn't cross my mind Nick and yes, one can play the system but the majority can't, and that's where this easy credit is becoming a real problem

[Nickbat]

"Credit card cheques will be banned as part of government plans for consumer protection due to be unveiled."

http://news.bbc.co.uk/1/hi/business/8129555.stm

I have used these as a convenient way to pay for a car, an income tax bill, and other situations in which I need a little time to come up with the "readies".

When will the government stop banning things left right and centre?

Furthermore, considering its own borrowing, hasn't it got a f*cking nerve telling its citizens to cut back?

FFS.   

.....I would consider myself to be a kindred spirit with you in most things Nick but on this I'm not so sure :-/

This facility has been made available by the card providers purely to grab even more of our money, in terms of the extortionate charges made for it.

It is also an admission by that useless lot in government that things are out of control where the availability of ready credit is - however expensive in relative terms.

Card rates are already immorally high and this type of facility really does nothing but bolster the providers already substantial bottom line.

Negative to that Zulu. For the sharper ones amongst us, using credit cards is infinitely cheaper than using bank facilities. Last year I paid my income tax bill with 0% finance. Only dummies pay through the nose.     

.....and that's where the majority of the fallout from this rests unfortunately, Nick

So they tell you.

If you don't pay your cc bills, the financial institutions will get you. Everyone knows that. So, why BAN cc cheques? If you've got a £5k limit on your card, you can by something to that value, IF THE VENDOR ACCEPTS CARDS. If the vendor does not, you are stuffed under this legislation. It's not logical. The government wants to penalise those who currently purchase from (cheaper) vendors who do not accept cc cards, because of the commission.

What I am saying is that banning cheques will only inconvenience some people (myself included). It will NOT stop anyone acquiring untenable debt if they so desire.

Stupid, and illogical. 

[Nickbat]

Furthermore, when I bought my Omega, I paid with a cc cheque and I drive the car away there and then. Had I paid with a conventional cheque, it would not have been guaranteed to that amount (max £500?), so the alternative would have been to traipse across London with a few grands' worth of cash in my bag (not good!). I have found cc cheques to be incredibly convenient and, in case you wondered, I am not insolvent. 

...It didn't cross my mind Nick and yes, one can play the system but the majority can't, and that's where this easy credit is becoming a real problem

..and you must remember that, for the time being, easy credit is what the country wants. Yes, really. They go on about the £2k scrappage deals to save the car industry, but wheres the balance of the purchase price coming from? Under the mattress?

Prevent people from purchasing and you stymie demand. Stymie demand and you lose production. Stymie production and you lose jobs.

Simples.

[Nickbat]

Cancel credit and you cancel the economy.

When the going is good (boom times), then you try to rein in personal debt (although the government would need to take the lead by cutting its own borrowing).

Cutting credit at this juncture is adding salt to the wound.

[crazyjoetavola]

"Credit card cheques will be banned as part of government plans for consumer protection due to be unveiled."

http://news.bbc.co.uk/1/hi/business/8129555.stm

I have used these as a convenient way to pay for a car, an income tax bill, and other situations in which I need a little time to come up with the "readies".

When will the government stop banning things left right and centre?

Furthermore, considering its own borrowing, hasn't it got a f*cking nerve telling its citizens to cut back?

FFS.   

.....I would consider myself to be a kindred spirit with you in most things Nick but on this I'm not so sure :-/

This facility has been made available by the card providers purely to grab even more of our money, in terms of the extortionate charges made for it.

It is also an admission by that useless lot in government that things are out of control where the availability of ready credit is - however expensive in relative terms.

Card rates are already immorally high and this type of facility really does nothing but bolster the providers already substantial bottom line.

Negative to that Zulu. For the sharper ones amongst us, using credit cards is infinitely cheaper than using bank facilities. Last year I paid my income tax bill with 0% finance. Only dummies pay through the nose.     

.....and that's where the majority of the fallout from this rests unfortunately, Nick

So they tell you.

If you don't pay your cc bills, the financial institutions will get you. Everyone knows that. So, why BAN cc cheques? If you've got a £5k limit on your card, you can by something to that value, IF THE VENDOR ACCEPTS CARDS. If the vendor does not, you are stuffed under this legislation. It's not logical. The government wants to penalise those who currently purchase from (cheaper) vendors who do not accept cc cards, because of the commission.

What I am saying is that banning cheques will only inconvenience some people (myself included). It will NOT stop anyone acquiring untenable debt if they so desire.

Stupid, and illogical. 

........I see them as an unwarranted financial inducement which leads the unsuspecting into potential difficulty Nick.

Too many people are addicted to easy credit and this is made the more sinister when they are obliged to use cards and cheques simply to get them through the month.

This government in particular, has tacitly encouraged the use of easy credit for their own politically deviant ends, and I'm afraid that it's blown up in their over-fed faces.

I think that it's high time the card providers were subject to some stringent regulation – applied with conviction.

[Nickbat]

Prevent people from purchasing and you stymie demand. Stymie demand and you lose production. Stymie production and you lose jobs.

..and to continue, if you lose jobs, you lose tax revenue (and increase social security spending). The loss of jobs will further stymie demand, which will increase the jobless totals and further stymie tax revenues. If you raise taxes to counter the fall in revenues, you reduce demand, so you're back at square one.

We need much less government debt and a short-term increase in cheap public credit to boost demand.

Simples, again. 

[Nickbat]

"Credit card cheques will be banned as part of government plans for consumer protection due to be unveiled."

http://news.bbc.co.uk/1/hi/business/8129555.stm

I have used these as a convenient way to pay for a car, an income tax bill, and other situations in which I need a little time to come up with the "readies".

When will the government stop banning things left right and centre?

Furthermore, considering its own borrowing, hasn't it got a f*cking nerve telling its citizens to cut back?

FFS.   

.....I would consider myself to be a kindred spirit with you in most things Nick but on this I'm not so sure :-/

This facility has been made available by the card providers purely to grab even more of our money, in terms of the extortionate charges made for it.

It is also an admission by that useless lot in government that things are out of control where the availability of ready credit is - however expensive in relative terms.

Card rates are already immorally high and this type of facility really does nothing but bolster the providers already substantial bottom line.

Negative to that Zulu. For the sharper ones amongst us, using credit cards is infinitely cheaper than using bank facilities. Last year I paid my income tax bill with 0% finance. Only dummies pay through the nose.     

.....and that's where the majority of the fallout from this rests unfortunately, Nick

So they tell you.

If you don't pay your cc bills, the financial institutions will get you. Everyone knows that. So, why BAN cc cheques? If you've got a £5k limit on your card, you can by something to that value, IF THE VENDOR ACCEPTS CARDS. If the vendor does not, you are stuffed under this legislation. It's not logical. The government wants to penalise those who currently purchase from (cheaper) vendors who do not accept cc cards, because of the commission.

What I am saying is that banning cheques will only inconvenience some people (myself included). It will NOT stop anyone acquiring untenable debt if they so desire.

Stupid, and illogical. 

........I see them as an unwarranted financial inducement which leads the unsuspecting into potential difficulty Nick.

Too many people are addicted to easy credit and this is made the more sinister when they are obliged to use cards and cheques simply to get them through the month.

This government in particular, has tacitly encouraged the use of easy credit for their own politically deviant ends, and I'm afraid that it's blown up in their over-fed faces.

I think that it's high time the card providers were subject to some stringent regulation – applied with conviction.

The problem is not consumer debt, Zulu, it's government debt. Very soon, the IMF will come knocking on our door. 

[crazyjoetavola]

Furthermore, when I bought my Omega, I paid with a cc cheque and I drive the car away there and then. Had I paid with a conventional cheque, it would not have been guaranteed to that amount (max £500?), so the alternative would have been to traipse across London with a few grands' worth of cash in my bag (not good!). I have found cc cheques to be incredibly convenient and, in case you wondered, I am not insolvent. 

...It didn't cross my mind Nick and yes, one can play the system but the majority can't, and that's where this easy credit is becoming a real problem

..and you must remember that, for the time being, easy credit is what the country wants. Yes, really. They go on about the £2k scrappage deals to save the car industry, but wheres the balance of the purchase price coming from? Under the mattress?

Prevent people from purchasing and you stymie demand. Stymie demand and you lose production. Stymie production and you lose jobs.

Simples.

....and that's where the folly of a system built up and supported by easy credit becomes obvious Nick.

Credit, at reasonable rates is a very useful facility to have available provided that the individual seeking credit is not already leaden with it.

That's where the stupidity of the scrappage scheme exposed itself for all to see, the 2K was easy enough to get ,but the balance?

With high rates for credit surely it was a non starter, for the majority of those carrying credit, to be expected to extend themselves once more to gather additional credit.

[crazyjoetavola]

"Credit card cheques will be banned as part of government plans for consumer protection due to be unveiled."

http://news.bbc.co.uk/1/hi/business/8129555.stm

I have used these as a convenient way to pay for a car, an income tax bill, and other situations in which I need a little time to come up with the "readies".

When will the government stop banning things left right and centre?

Furthermore, considering its own borrowing, hasn't it got a f*cking nerve telling its citizens to cut back?

FFS.   

.....I would consider myself to be a kindred spirit with you in most things Nick but on this I'm not so sure :-/

This facility has been made available by the card providers purely to grab even more of our money, in terms of the extortionate charges made for it.

It is also an admission by that useless lot in government that things are out of control where the availability of ready credit is - however expensive in relative terms.

Card rates are already immorally high and this type of facility really does nothing but bolster the providers already substantial bottom line.

Negative to that Zulu. For the sharper ones amongst us, using credit cards is infinitely cheaper than using bank facilities. Last year I paid my income tax bill with 0% finance. Only dummies pay through the nose.     

.....and that's where the majority of the fallout from this rests unfortunately, Nick

So they tell you.

If you don't pay your cc bills, the financial institutions will get you. Everyone knows that. So, why BAN cc cheques? If you've got a £5k limit on your card, you can by something to that value, IF THE VENDOR ACCEPTS CARDS. If the vendor does not, you are stuffed under this legislation. It's not logical. The government wants to penalise those who currently purchase from (cheaper) vendors who do not accept cc cards, because of the commission.

What I am saying is that banning cheques will only inconvenience some people (myself included). It will NOT stop anyone acquiring untenable debt if they so desire.

Stupid, and illogical. 

........I see them as an unwarranted financial inducement which leads the unsuspecting into potential difficulty Nick.

Too many people are addicted to easy credit and this is made the more sinister when they are obliged to use cards and cheques simply to get them through the month.

This government in particular, has tacitly encouraged the use of easy credit for their own politically deviant ends, and I'm afraid that it's blown up in their over-fed faces.

I think that it's high time the card providers were subject to some stringent regulation – applied with conviction.

The problem is not consumer debt, Zulu, it's government debt. Very soon, the IMF will come knocking on our door. 

........the collective back of the country is against the wall Nick and yes, the full impact of the shameful way in which the present crowd has handled this will soon become evident. 

That revelation will not be any easier dealt with by a considerable number of the populace, being laden as they are with an unreasonable amount of debt.