Loan sharks?

[Squashed_Fly]

The reason is Ken, is that if you've had probs in the past, but now you're good for the money (so to speak), it gives you a chance to prove it with a low limit, but higher interest card.

You're looking at 2 completely different products though. Vanquis/Capital One credit cards are aimed at people trying to rebuild their credit history & rating over a period of time.

Payday loans are aimed anyone who needs a short term, one off solution and are not meant as an ongoing fix. If they are used as such, then it's time to question how you are handling your finances.

[redken1]

Aidan,

I have to confess that I'm no expert on the subject, but what I’m trying to say is that the credit crunch happened due to irresponsible lending and borrowing. If we are to avoid a repeat in the future things need to change, surely?

[Squashed_Fly]

Completely agree. But until the economy is in line with peoples salaries, not sure if that's possible. Fuel gone up by 35p a litre in the last 2 years, prices of basics such as bread and milk risen by over 20%, yet salaries aren't going up in line. Life is getting more expensive, and the fat cats are taking all the money in bonuses rather than paying the workers a decent, liveable wage!

Rich getting richer, poor getting poorer!

[redken1]

Completely agree. But until the economy is in line with peoples salaries, not sure if that's possible. Fuel gone up by 35p a litre in the last 2 years, prices of basics such as bread and milk risen by over 20%, yet salaries aren't going up in line. Life is getting more expensive, and the fat cats are taking all the money in bonuses rather than paying the workers a decent, liveable wage!

Rich getting richer, poor getting poorer!

Well said brother :-X ;D

[Ducatista]

If we are to avoid a repeat in the future things need to change, surely?

Things have changed significantly. There has been a huge credit crunch. Haven't you read this?

http://www.thedailymash.co.uk/news/b...s-20080328827/

[redken1]

If we are to avoid a repeat in the future things need to change, surely?

Things have changed significantly. There has been a huge credit crunch. Haven't you read this?

http://www.thedailymash.co.uk/news/b...s-20080328827/

;D ;D ;D may be that's the answer ;D

[Squashed_Fly]

If we are to avoid a repeat in the future things need to change, surely?

Things have changed significantly. There has been a huge credit crunch. Haven't you read this?

http://www.thedailymash.co.uk/news/b...s-20080328827/

I'd forgotten how good The Daily Mash was! ;D ;D ;D

[wasted_ace]

if you can't borrow money through the normal methods (bank, standard loans) then there's usually a bloody good reason. The idea of "I don't get paid until next week but I need money NOW!" is yet another example of the sad and sorry state of our society...we've had 2 decade of being able to have whatever we want, straight away, which is why we're now in a financial crisis

Spot on the Mark
Credit was way to easy to obtain..it was always going to end in tears :'(

[Kevinb]

Completely agree. But until the economy is in line with peoples salaries, not sure if that's possible. Fuel gone up by 35p a litre in the last 2 years, prices of basics such as bread and milk risen by over 20%, yet salaries aren't going up in line. Life is getting more expensive, and the fat cats are taking all the money in bonuses rather than paying the workers a decent, liveable wage!

Rich getting richer, poor getting poorer!

Shouldn't that be richer getting richer, poorer getting more benefits, can have nice cars, iphones and flat screen tv's and the middle classes are getting stuffed from all angles >

[Ducatista]

poorer getting more benefits, can have nice cars, iphones and flat screen tv's

Do you really know anyone on benefits who lives like that?