Re: credit cards
 

Not sure what you mean by 'against', a note is made of each credit check made on you including the reason why. Some companies score against you for this, others do not.

Re: credit cards
 

What I meant is, it can lower your chance of getting credit, just repeating what the financial advisor said. Like you said that they may not score on this, different companies do credit scoring by different methods and means.

Re: credit cards
 

As you don't currently have any revolving credit accounts, just loan accounts they will want to see a satisfactory pattern of activity.

Spend and pay off on time and you will see that £200 go up rapidly and more offers following. Your record may well be clean, but the companies are wary as it could be someone else trying to get credit on your profile...

You should also check your credit report, the previous owners of your house may have had bad credit and that could be a mark against you, there may be errors on it. Also are you on the electoral roll at the address, and have you agreed to having that info published so the credit companies can see it.

Re: credit cards
 

yes but looking at it the point i was making is some people takeup the loans from the compaines set up to consolidate your debts in to one loan its a con really would you accept 15% from them think about how much you have to pay back on a £26k loan :erm:

i do infact i have become very much more habitual in spending money wisely


yes you see looking at if you were to buy items such as a fridge or washing machine that are essential to your everyday needs then maybe saving up for it is alot better then swipeing the card you are then not tempted in the future to spend


if you cant be compitent with money then you do deserve to be in a hole it is your fault i have no pity in these circumstances

you find a job part time and you pay it off bit by bit as well as going to UNI and if you struggle too much ask you parents for a little help


nope i learned control compitence and not to be greedy i have put this in to excercise with great affect more about this later


and as you have blatently missed my point of the initial post i will explain

the program was rather talking about people who spend there money on luxury goods if its for a mortgage house then getting in to debt is easy but i was not mentioning anything related to buying food or essential items

so thank you very much to whoever gave me a negative rep :Peace:

Re: credit cards
 

and a typical response from a typical person who does not grasp the concept of understanding me and likes to plagiarize me :rolleyes:


the luxuries bit im talking about here ever head of 'putting your foot down' you dont have to bow down to the pressures of kids wanting the latest toy



if we are all still around somewhere :eek:

Re: credit cards
 

trust me i know life is not easy :rolleyes:

this is a case i was more talking about where you spend spend spend and then you are in debt because you kept on getting the damn credit card out and using it

then the bank wants to sell you a loan on high interest :rolleyes:


i know you can get in to debt by owning your own home or mortgage food bills etc

but thats why you look for a job which pays well and if you need to rent a flat pay the bills its alot cheaper that dependant on your earnings you have to do the maths

if you read my previous posts i never meant to say that people deserve debt who are honest and dont buy luxuries but not every single person out there is in debt because of the above that many have mentioned in previous posts im talking about buying electrical appliances or expensive home improvements

if that is the case and if i instruct the bank to not raise the limit but they do then there is no point in getting one

there will always be people in debt

Re: credit cards
 

that was it missed the intro i didnt even know it was on i was there by pure coincidence

Re: credit cards
 

No kronas, nobody deserves to be in a 'hole'. People become in a hole before they even realise it. Do not take this as offense to your age but you are less likely to be experienced to those alot older than you who have gone through hell trying to make ends meet, we were all 17 once Kronas and we wish we could turn back the clock to that age and still know what we know now. You are at an age where you may not have any commitments, such as children, mortgage payment or rent, water rates, council tax, ground rent, electric and gas bills to pay, I will stand corrected if I am wrong. :)

When I was 16/17, I said I would never get any credit cards or loans, I've now currently got a car loan and two credit cards and various other store credit cards. Life takes unexpected turns Kronas and at 17, Kronas - I hazard a guess that you have not gone through what many of the posters in this thread have gone through, that is 'difficult' times.

Re: credit cards
 

as i explained before i dont mean the people who are in debt due to the reasons you have stated above im talking about people spending cash left right and center even though they know they cant

*bangs head against brick wall due to people not understanding what he is trying to say :spin: :rolleyes:

Re: credit cards
 

Have you considered Kronas that these people may have a 'spending' spree condition that is out of control? They cannot help it even if they really really want to.

Re: credit cards
 

i suppose i am semi-lucky being a student. obviously not counting the debt mountain building up behind my student loans...

but anyway i have a credit card with £500 limit and a current a/c with £1000 overdraft. i have just poked into the overdraft and had to use my CC to make a couple of relatively big purchases, but i am lucky in that they are both interest free. i arent looking forward to the day with it goes up to 17.9% or wahtever teh CC interest rates are...

Re: credit cards
 

of course you can ill show you

i currently have say £100 to spend i want..............

sky+ £199 plus £50 install then
dvd player costing £100
a 5.1 sub woofer and speaker system costing £200

now you see whats wrong here ?

i cant possibly buy all that so i do without i may have enough money to buy the dvd player but i choose not to..

now a person with a credit card might just use the CC to put it on the plastic he only earns £200 a week so he has got the council tax to pay weekly or monthly the eletricity all those previously mentioned bills

so at the end of the month he has pennies left now why would someone stick even higher priced goods luxury goods on a CC when he fully well knows due to his income and expenditure he cant pay it add the interest and voila

you have uneeded debt thats what i meant by luxury goods these people need sorting and deserve debt if you cant do the sums

i know about mortgages children all that i have sympathy and life is hard i dont have sympathy for luxury buyers who amass debt

Re: credit cards
 

Yep, the credit card companies who offer 0% interest on purchases and transfers, then 6 months down the line that offer vanishes and it hits you before you realise it.

Re: credit cards
 

When I was writing my original post, I was talking about credit card debt.

I do understand debt in certain cases, even though I hate it. A house. A car. Education.

I am C$8,000 (3,500 pounds) in debt from a student line of credit. That was only during the first year, when my folks had a particularly hard time. They do pay the interest each month on it. I'll be responsible for that debt once I graduate.

I have three credit cards. A regular student MasterCard with no rewards. A GM VISA which gives me 3% cash back towards a GM car (+ $1,000 when I graduate). And an American Express Airmiles card.

I use the GM card for everything to get points. I use the regular card for items I want to budget separately to make it easier. I pay them off clean each month. In fact, I often deposit money before buying something with the credit card because I'm so allergic to credit card debt.

My parents have several credit cards, each with a specific purpose. My dad has one Airmiles card that he uses for business purposes, and can often spend $30,000 to $50,000 a month on the card [the company pays the card though]. That translates into a heck of a lot of airmiles for us. :D

Re: credit cards
 

I tried to keep a low credit limit on one of my cards (mainly used for web purchases) but the limit crept up and up. I asked (HSBC) for it to be reduced but without success. Now I use a Cahoot web-only Visa card. That has a big limit BUT it is very safe for web use because the "card" number changes at every transaction. Unfortunately some systems cannot accept such web-only cards eg on Ebay you have to 'register' your card - impossible if the number keeps changing.