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Credit-fuelled Christmas coming?
New Zealanders may be regaining their appetite for debt and credit card spending, a development that could bode well for retailers during the crucial Christmas trading season.
Credit card inquiries rose 12.9% in the nine months ended September 30 while hire purchase queries gained 3.2%, according to figures from Veda Advantage, the nation's biggest credit check company.
New Zealanders' appetite for debt, using plastic may be returning, Veda says
New Zealanders may be regaining their appetite for debt and credit card spending, a development that could bode well for retailers during the crucial Christmas trading season.
Credit card inquiries rose 12.9 percent in the nine months ended Sept. 30 while hire purchase queries gained 3.2 percent, according to figures from Veda Advantage, the nation's biggest credit check company. Mortgage inquiries rose 11 percent.
Tide turns for not-so-fantastic plastic
Credit cards are so much a part of life that it's easy to lose sight of what peculiar things they are. Surely the people who came up with the idea never expected to find a market gullible enough to accept them so wholeheartedly?
"Let's give people a card they can carry around that means they can get an instant little bank loan whenever they want one.
"And let's charge them higher interest than normal for the privilege of making it easier to get in debt.