How Long For Credit?

That I have never heard about and would be something I would be most unlikely to do anyway, as I don't go anywhere near my limit even when I think I desperately want something.  Want and need = two different things entirely.

I don't spend near my limit either, but as Dennis said, with the common attitude toward credit in the UK, I can see it happening to many people.

Something that I find interesting is that, on my paper credit card statements, next to where it says what the minimum payment is, it says something like "If you only pay the minimum payment, it will take you longer to pay off your debt." I guess saying that is an FSA requirement.

I was quite taken aback at the smallness of the minimum payment after I paid for our Egypt trip in the spring.  The amount was around £1,200, I was getting ready to throw £400 at it and they were only requesting £28.  You'd have to be pretty badly off to only put £28 on a £1,200 amount, jeeze.

You can set up a direct debit to take out only the minimum payment each month. I bet people do this and never even look at their total credit card bill.