{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/5e4d4c61e0fb8b17312bf1a6/699f17137156d50874106f7b?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"The Credit Card Trap ","thumbnail_width":200,"thumbnail_height":200,"thumbnail_url":"https://open-images.acast.com/shows/5e4d4c61e0fb8b17312bf1a6/1772041376002-393a8287-2580-488f-ab13-1380656d9207.jpeg?height=200","description":"<p>Why do credit cards so often feel manageable at first, and then quietly turn into long-term debt?</p><p><br></p><p>In this episode of The Wallet, Emilie Bellet (Vestpod) is joined by Iona Bain, award-winning broadcaster, columnist, and author, following her Panorama investigation Maxed Out: The Credit Card Trap. Together, we unpack how credit card products are designed, why minimum payments and rising credit limits keep people stuck, and why debt can linger for years, even when people feel responsible and are doing their best.</p><p><br></p><p>We discuss:</p><p><br></p><ul><li>What the “credit card trap” really is, and why it is not about being bad with money</li><li>Why minimum payments create a false sense of safety</li><li>How credit limit increases quietly make debt harder to escape</li><li>Balance transfers, when they help and when they just delay the problem</li><li>The emotional side of debt, and why shame keeps people stuck</li><li>What actually helps people stay in control</li></ul><p><br></p><p>The information shared is for educational purposes only and is not financial advice.</p><p><br></p><p><strong>#ad This episode is sponsored by MoneyWeek.</strong></p><p>MoneyWeek gives you a clear weekly roundup of the stories, trends, and market moves that matter, written by expert journalists and delivered in print or on the app. You can try six issues for free, then enjoy an exclusive £5 discount on a quarterly subscription for The Wallet community at <a href=\"https://www.moneyweek.com/wallet\" rel=\"noopener noreferrer\" target=\"_blank\">moneyweek.com/wallet</a> with the code WALLET.</p><p><br></p><p><strong>Connect with Vestpod:</strong></p><p>Sign up to The Edit newsletter: <a href=\"https://www.vestpod.com/subscribe\" rel=\"noopener noreferrer\" target=\"_blank\">https://www.vestpod.com/subscribe</a></p><p>Courses and bootcamps: <a href=\"https://www.vestpod.com/courses\" rel=\"noopener noreferrer\" target=\"_blank\">https://www.vestpod.com/courses</a></p><p>Follow on Instagram: <a href=\"https://www.instagram.com/vestpod\" rel=\"noopener noreferrer\" target=\"_blank\">https://www.instagram.com/vestpod</a></p><p>Emilie’s book: You’re Not Broke, You’re Pre-Rich</p>","author_name":"Emilie Bellet"}