Andrew
Member
Registered: 5th May 04
Location: Skoda Octavia Estate, Ford Puma
User status: Offline
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How do they work  I need to build up some credit rating and i'm told this is a good way.
My bank have offered me a £2500 limit so i'll prob take that. I'm not stupid, i will only use what i can afford to pay back 
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Steve
Premium Member
Registered: 30th Mar 02
Location: Worcestershire Drives: Defender
User status: Offline
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you always say that, u will end up maxing it out trust me
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Andrew
Member
Registered: 5th May 04
Location: Skoda Octavia Estate, Ford Puma
User status: Offline
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Just wanna know how they work really. If i go round the bank they will just talk me into it so i'm not doing that 
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dousey
Member
Registered: 21st May 03
Location: Selsey, West Sussex
User status: Offline
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Go for one with 0% interest. That new mint one looks pretty good as it has 0% til march 2005 i think.
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Marc
Member
Registered: 11th Aug 02
Location: York
User status: Offline
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If you have no credit rating your gonna find it hard getting a card. But your bank will always give you one as you have found out. One you have used the card once and paid it off you will then have a credit rating. Depending on how quickly its paid off reflects how good your rating is.
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Tom
Member
Registered: 3rd Apr 02
Location: Wirral, Merseyside
User status: Offline
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You use it to gain credit for products or services (or cashback or cash from machine), they charge u interest for the experience u end up maxing it out and paying it off forever
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Andrew
Member
Registered: 5th May 04
Location: Skoda Octavia Estate, Ford Puma
User status: Offline
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Well i was thinking of getting one just to buy my bits and pieces on, then at the end of the month -- pay it off. Do you pay intrest that way?
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Marc
Member
Registered: 11th Aug 02
Location: York
User status: Offline
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If you pay it off in time no.
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Andrew
Member
Registered: 5th May 04
Location: Skoda Octavia Estate, Ford Puma
User status: Offline
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I only want it to build up the credit rating Think i'll chat to my bank now. Thanks MArc!
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MODDEDCORSAGSI
Member
Registered: 9th Sep 03
Location: Stoke
User status: Offline
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this is the same for me, my cars booked in for tints this friday, ive already paid the deposit, but have no money 2 pay the rest due to an unexpected phone bill.  anyways, i went into my bank, natwest and theyve offered me a credit card, (advantage gold). So does this mean that when it comes, even though i have no money in my account i can go and pay for my window tints, and the money will automatically be deducted form my wages wen i get paid at the end of the month.
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Sims
Member
Registered: 15th Aug 03
Location: Bath/Bristol area Drove: 1994 Corsa SRi Now: VTR
User status: Offline
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you can pay for it with your new credit card. but you have to go into the bank to pay off the money you have spent on your card. unless you have online banking
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MODDEDCORSAGSI
Member
Registered: 9th Sep 03
Location: Stoke
User status: Offline
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cheers m8, is this the same for if i wanted 2 buy anythin, eg.jus 2 put petrol in my car and stuff, its 0% interest, dus this mean that i only pay bk wot i spend. sry, im not very clued up on this sort of thing. Im also gonna cancel the accout after apying for my tints so i dont go mad with it
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Bart
Member
Registered: 19th Aug 02
Location: Midsomer Norton, Bristol Avon
User status: Offline
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If you spent £300 in 1 month on your credit card then at the end of the month they will bill you and say you need to pay some of it off (not all of it).
They will only ask for a payment of around £20 on a 300 limit, its very small.
By asking you to not pay it all off and just pay little bits off, not only is it easier for you, but your keeping money on the card for them and generating interest what they've making money from.
If you go over your limit they will usually charge you around £20.
If you forget to pay (and i have number of times) then they slap a £30 charge on it.
So if my minimum payment for June was £15, and it accidantly went over my limit and forgot to pay id have to fork out:
£15 minimum payment
£20 charge for going over
£30 for forgetting last month
£65 total! all because i forgot to pay £15. They've done that to me once or twice. its always best to keep on top of them tho. Personally i wish i hadnt got one, but there ya go
[Edited on 09-06-2003 by Bart]
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Sims
Member
Registered: 15th Aug 03
Location: Bath/Bristol area Drove: 1994 Corsa SRi Now: VTR
User status: Offline
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hehe bartman. i've missed payments as well and they charge you for as many things as they can. I only got one cos i had to start one when i got a student account.
Wish i just canceled the account as soon as i got it. they are a pain in the ass! 
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MODDEDCORSAGSI
Member
Registered: 9th Sep 03
Location: Stoke
User status: Offline
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cheers guys
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Tom
Member
Registered: 3rd Apr 02
Location: Wirral, Merseyside
User status: Offline
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Well explained bart
They are bad news but handy if u got no money
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ruth
Member
Registered: 16th Jan 04
User status: Offline
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dont do i said that and now got a BIG bill
get a contract phone better
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Andrew
Member
Registered: 5th May 04
Location: Skoda Octavia Estate, Ford Puma
User status: Offline
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I don't even use my moby I have a free house phone instead
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mattyboy199
Member
Registered: 5th Feb 03
User status: Offline
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Easy apply for a credit card buy some stuff on it, then either pay it all off or setup a direct debit for the minimum payment.
Easy
Jus go easy on it i have £2500 on credit cards all 0% interest i have 3 cards so far & intend to transfer the balances when my current card 0% interest rate ends.
If you spend to much cut it up & jus pay the bill.
[Edited on 01-06-2004 by mattyboy199]
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