On 04/03/2012 08:51, Roland Perry wrote:

The problem with the (former) holders of Solo/Electron cards is that
often they are minor and therefore pursuing debts against them is
tricky. So they need a bank account and debit card which cannot go
overdrawn. In the UK we don't usually have parents co-signing in such
circumstance, other than perhaps for the rental of a property for a
student. Then there are the folks whose bank won't allow them an
overdraft because they haven't been shown to be fiscally responsible.

As a result, there's an aura of literally "poor man's card" hanging over
all debit cards.

Eh? This might be true for Solo/Electron cards (which never seemed to
be accepted by everyone), though I don't have any experience with one.
I do have a couple of debit cards, replacing cheque guarantee and ATM
cards on my current accounts (US:checking accounts)[1], but I've never
noticed any form of poor man's aura about them.

[1] As do tens of millions of other UK current account holders.

A lot of credit card holders use them in effect as charge cards, as a
substitute for the "monthly credit" that the middle classes used to get
from tradesmen.

Before my time but, given the interest rates on credit cards, how else
would you use them if you are in a position to clear the debt on them
each month? (And, although this might be an old-fashioned view, if you're
not in a position to clear the debt you ought not run it up in the first
place.)

Mind you, having your grocer deliver your shopping is back in fashion.



--
Graham Nye
news(a)thenyes.org.uk