Deliveroo and Klarna: Debt advisor Mabs urges people not to 'eat now, pay later'

Marsupial said:
I once sat beside a very friendly traveller couple in a local cheap and cheerful restaurant and they told me how difficult it was to cook a proper meal in their small caravan. So they ate out at least twice a week in cheap local restaurants. Made sense to me - and they were eating reasonably healthy grub: fish, chips and mushy peas!
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A big issue with the poor in America. A lot live in motels and only have a microwave to cook food, so they either eat microwave dinners or eat cheap take out. They have no means of cooking a healthy meal (don't suggest their boil meat and veg in the kettle ;) ).
 
I use it all the time for concert tickets, handy to use when a concert is announced and the tickets are on sale the day before pay day.
 
Dr Strangelove said:
Adtech is worth billions of dollars and no one talks about it.

A profile of you as a consumer is assembled from your digital traces. Ads are targeted in that basis.

I assume they can do a profile of you as a customer as well and offer credit on that basis.
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That explains why I'm getting all those ads for luxury yachts.
 
MrEarl said:
@Sarah Ryan I'd opt for a credit card, instead. You'll also get a level of payment protection etc
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I don't have one, I am not sure I would like having access to money like that, I prefer to try and live off my wages, this makes it 'real' as I know I need to factor in the other two payments in the next paychecks.

I know the credit card is similar... but I just feel this is more better suited to me as I it's more 'controlled'? I have been using it for the last 3 years or so for concerts and never an issue thank god.
 
My understanding the likes of Klara don’t make there money from interest or late fees but by being paid by the stop to offer the service as it increases sales.

In fact I think I think they may even have a level of guarantee of payment by the shop.
 
faketales said:
My understanding the likes of Klara don’t make there money from interest or late fees but by being paid by the stop to offer the service as it increases sales.
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~75% of Klarna's revenue comes from a flat fee plus a percentage charge on all transactions, the remainder is interest income.
 
ClubMan said:
That's exactly how many people manage a credit card.
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I think it would be a problem for me so best to avoid, the system I have works :) One month of pushing the boat out turns into two and so on, I would have difficulty with that so best to acknowledge it and avoid.

I think a massive problem is when people can identify they have an issue with credit and use it in the wrong ways.
 
Sarah Ryan said:
I think it would be a problem for me so best to avoid, the system I have works :) One month of pushing the boat out turns into two and so on, I would have difficulty with that so best to acknowledge it and avoid.
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Fair enough. And you also avoid the €30 p.a. CC stamp duty. Horses for courses.

Stamp duty on financial cards

Stamp duty is charged on credit cards and charge cards annually. A transaction fee is charged on ATM withdrawals.
www.citizensinformation.ie www.citizensinformation.ie
 
ClubMan said:
Fair enough. And you also avoid the €30 p.a. CC stamp duty. Horses for courses.
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My friend's Mam has the family credit card, there is a spreadsheet and all the siblings use the card and settle with the mother at the end of the month. I am not joking they really do this it's hilarious! I could always get in with them!
The Irish Mammy, you can't beat them!!!
 
When I started working first in the early eighties getting access to credit was not as easy as today but this level of credit shouldn't be allowed
I can fully understand the usual lines of credit, mortgage, home improvement/repairs, car loan, home appliances' and technology
I can even justify borrowing for the shirt on my back, why, because after you've paid off the debt you're left with a tangible product

Borrowing for something like a takeaway which you'll consume in a matter of minutes after which you're left with nothing but a memory,
is in my eyes very similar to letting people have credit to gamble, it shouldn't be allowed
Bottom line if you have to borrow money to buy a McDonalds you can't afford that McDonalds
and instead you should be looking at ways to address that for the better
 
Cervelo said:
Borrowing for something like a takeaway which you'll consume in a matter of minutes after which you're left with nothing but a memory,
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I put between €300 and €1,000 a month through my credit card. I cover it in full every month from wages. I have enough in my deposit account to cover repayments several times over.

I really don't think of it as borrowing. The main advantage is payment protection and the ability to put a hold on the card for hotels and rental cars. Every January I ring up my card provider to ask for a "loyalty bonus" of €30 which pays the government stamp duty. Sometimes it takes two phone calls but they always give it to me.

A lot of objections to credit cards are kind of theological.
 
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