Forum

this is for UK posters
 

Here in US,rent ,food and services have all gone up,more consumers are using their credit cards to pay for food. and not paying back in full,making minimum payment and end up paying 21% interest for the remaining balance.
Is it common for UK consumers to use their credit card to buy food,gas,clothes,meals?
How many credit cards does one have?
And what happens if a person default on his cc balance?
Can the bank go after his assets,like bank account,house,car?
Can they garnish his wages?
Thanks for responding

Re: this is for UK posters
 

I always shop on credit card for cashback. It all adds up.

Re: this is for UK posters
 

You know the cc fee is figured in the asking price.

Re: this is for UK posters
 

Same in uk it’s almost double every single this

Re: this is for UK posters
 

all western countries have the same system , only difference is the scale in different countries

Re: this is for UK posters
 

I don't have credit cards, neither do I have debt. I spend a lot of time in cheaper countries. UK doesn't have much to offer these days especially. Even if you live in London making £100k you still don't have much left after you paid for your shoe box apartment, travel costs, food etc. Better to work online and live somewhere like Thailand, Mexico, Colombia etc

Re: this is for UK posters
 

When you get cash back, it’s the merchant who foots the cost of that and obviously it’s all calculated in the price you pay at the counter for the product. So in so many ways a cash buyer is funding the seller for the credit and debit card fees they incurr.

Re: this is for UK posters
 

Some retail stores will give a cash buyer a discount,never hurt to ask.

Re: this is for UK posters
 

In US,if a store accepts MC/VISA,it cannot set a minimum ,some shoppers will go to a dollar store and buy one item,using his cc.

Re: this is for UK posters
 

Logically so - while many stores up here like to set a minimum buy amount for use of credit cards, USA is different I have found

Re: this is for UK posters
 

My understanding is such restriction violates MC/VISA agreement and could be reported.

Re: this is for UK posters
 

Hmm perhaps different country binding agreements