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[dave.m]

Nice to see some of the banks and other lenders reducing interest rates.

Did anyone notice any credit card companies reducing interest rates to try and increase spending?

No.  I thought not. 

dave

[jeffbb]

You are having a laugh aren't you ? 

[scottiesmum]

Did anyone notice any credit card companies reducing interest rates to try and increase spending?


It doesn't increase spending, it increases debt !  that's what a lot of people over there haven't cottoned onto yet and why they are in the mess they are !

[UncleUB]

Yes the rates are high,but lowering the rates allow to spend more rack up even more credit and get further into debt.I know where you are coming from Dave,but unfortunately millions of people in this country don't.
Think what would happen if like years ago nearly everyone paid their way with cash only. 
This problem is fuelled by these new type of credit lending companies(cash before pay day etc) who are targeting people who already have big debts and suck them in even further.
IMO these type of companies should not be allowed to operate in that way. 
This is the kind of thing I mean.


http://www.moneysupermarket.com/payday-loans/

[chrissie]

Did anyone notice any credit card companies reducing interest rates to try and increase spending?


It doesn't increase spending, it increases debt !  that's what a lot of people over there haven't cottoned onto yet and why they are in the mess they are !

Too true Kate, things can only get worse with the current thinking of spend loads to improve the economy....but only if you borrow it first