Credit cards and the coming christmas shopping season

By the time the bk bill takes affect, we'll be headed towards the cristmas shopping season ( if we make it ). People by then will see first hand what using credit cards will do to them, and I believe be reluctant to put a large load on their credit, if they can't crawl out from existing debt why dig that hole deeper.
It's going to put a hell of a damper on the economy, the shopping seasons have sucked anyway, retailers have bitched and moaned and groaned about how terrible they've been.
Now add people who are awakening to the consequences of piling on debt, it's going to be more of a nosedive rather than a spiral, and if the banks and credit card offices don't get torched, I'll be suprised.

I've seen how they're evil if you use them too much.

Banks also fuck with your credit rating if you don't bother to use them. That's happened and it's outrageous.

(use them meaning to actually use it but RARELY, and always pay off the balance within the "grace period" when you do.)

Pay small businesses in cash if possible, since they get a raw
deal from the credit card companies.

Big businesses pay very low fees to process credit card transactions
and most big business would rather deal with plastic than cash anyway.
Some, like hotels and car-rental companies, almost insist on it.
Others, like some oil companies, will give you a discount for charging
your purchase on their credit card, but not for paying cash.
So let them eat plastic. If you pay if off each month it's an
interest-free loan for about a month and it avoids having to carry
excessive amounts of cash. The credit card companies don't really
make any money off of you in that case, as the incentives they
provide to the consumer exceed the fees they are paid. They make
their money off of the usurious interest rates they charge if you
carry a balance, so don't do that.

Most stores that have layaway plans don't charge extra for this service (K-Mart is the exception). Usually, you have a month or two to pay before you can receive your goods.

One pawn shop near me has a 6 month layaway plan!

They will not have access to credit cards this coming Xmas shopping season.. These are the same people who "used" to use plastic. You can bet your bottom dollar, that once freed from the burden of debt, they will be "on their best behavior" for at least a few years ....so too bad for this coming Xmas season..

No doubt, they will get new cards, but those willl have lower limits and most people will have learned the hard way about credit, so they might be reluctant to go nuts. (My friend who did a BK a few years back HAS a few credit cards now, but she religiously pays them off every month and only uses them for emergencies now..

Of course if you are Richie Rich, you will continue to spend because your ability to file BK will have changed little:(