[memsom]

I would have said "true", or at least - I would have said "I do, but never incurring a charge on next month's bill", but with services like Flex from Monzo, you can actually get credit over 3 months with 0% interest rates, which not only makes buying stuff more likely, but spreads out the costs. It doesn't solve over spending though.

[KellyCriterion]

How much is it?

You could draw all of it and put in a a 2x leveraged SP500 ETF :-D for 3 month and then return the money :-D

[memsom]

How much is Flex? It is free. You have 2 options -

1) physical card, which works like a credit card. 2) You can flex payments you made on your regular card.

The rules are the same. If it was a card purchase it will more than likely flex (it will if you used the Flex card, account it will depend on the type of transaction.) But it needs to be used for purchases. I guess you could set up a CC processing unit and pay yourself, but it somehow doesn't seem worth it. You can't flex a bank transfer for example.

When you Flex, it gives you the option to "pay on next payment cycle", "pay in 3 installments with 0 interest", "pay in 6/12 installments with the usual big interest". But you can at any point pay it off and so you could do it over 4 months and only pay minimal interest and you could pay over the amount due and make it pay off quicker.

[torginus]

Just don't let the credit card companies find out. The reason they give the money to you and not the stock market is to diversify their portfolio.

Imagine if all the shares in Bank X were paid for by loans issued by Bank X.

[warkdarrior]

"Credit limit: £1200"

[memsom]

It depends. The more you use it the better the limit gets. Mine is nearly 3k now.