The retail credit game!

In the days when Edgars Truworths and Foschini were the retail kings in South Africa, most shoppers had a clothing account at one of those stores or more likely they had an account at all three. Having a clothing account was the accepted normal practice, families would buy merchandise and at the end of the month make a payment of one sixth of the account balance. After three correct payments the retailer would increase the customers open to buy or credit limit, and the cycle would continue. Businesses were built…

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