Credit cards used to be so much easier to get when the banks were lending money out. Tighter banking regulations and closing down of banks has significantly hurt businesses and people around the world. Where did the good days go?
Credit Cards are cool because they are free money. Spend up big on CC's and never pay it back. Oh wait- I now have a bad credit card rating. Doh! ;)
Apply for multiple CC from different banks. Exaggerate your financial position to get a higher credit limit. Ninja home loans were so cool when they were in back in the days before the GFC. No payments on mortgage = no worries.
Interest rates in these CCs average around 15 to 20% per year up to 30% per year. Pay minimum payment to avoid penalty fees. Pay off the credit card as soon as possible to save on interest payments.
BTW: There is no such thing as a free lunch. People are learning the hard way and now having to sleep in a tent, in a car or under a bridge because they have lost everything due to the GFC.
