And what do you think of the fact that the money for said loans was created out of thin air? I used to think that when I got a loan for my mortgage it was some pensioners hard earned savings being handed over to me and so I had a moral obligation to pay it back with a little interest on top.



Now I realise I was basically scammed and 97% of our 'money' is infact bank created IOU's, so 97% of our money supply is backed by an equal debt (actually it's more when you include the interest). The only way to keep this debt pyramid going is by somebody somewhere taking on even more debt or the whole system collapses. This is why the European response to the sovereign debt crisis is to give the countries in trouble more debt!

What is a credit card "deal"!?

Incentives. A matter of perspective, I suppose. But they seem to be falling over themselves lately to get my business. I guess the plan is instead of throwing credit at everyone and his dog (pre-subprime) they're all now competing to milk those remaining who they still think have a few pennies left under the mattress.

Burn the top one, then one each clockwise round the table starting on your left.



They've been doing it this way for years now. Credit check is a test of willingness to toss the house keys in.

Capital One are a good example. they currently have this thing on Facebook and elsewhere, click on this and we'll tell you in 60 seconds if your credit card is approved. they bumf then says the interest rate is something like 39% which given that Bank rate is about a millionth of a percent seems like decent business if anyone falls for it.



I have no clue how many they issue, but it must surely be a right shedload, as else why would they spend all the dosh on advertising it?

Precisely! There seems a strong positive correlation between businesses who offer "deals" and rip off merchants. Mobile 'phone charges spring to mind too.