The Father of Credit

Then the godfather of credit cards, the digitaliser of dosh, quoted Mr Micawber to me: ’ “Annual income ?20, annual expenditure ?19 19s 6d, result happiness; annual income ?20, annual expenditure ?20 0s 6d, result misery.” You know,’ he says, ‘there’s still a lot to be said for that.’
Another interesting point about having more debt than cash available – something i always try and avoid (i.e. big credit card bills are fine, as long as you have the cash to pay ‘em off) – and the founder of the Visa system is just the same: After that, I vowed that never again would I ever be in more debt than I had cash in the bank. And I never have been.’
All-in-all, an interesting read from The Observer this week…
The Observer | Review | Give me some credit