Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
|
I haven't paid interest on any big stuff I buy for years. How is that not good?
Also never had a problem with my barclaycard platinum. Generous credit limit and they always send me offers for balance transfers.
|
DaveyLC
Member
Registered: 8th Oct 08
Location: Berkshire
User status: Offline
|
But we're all picking up the bill for a slight premium (approx 2%) for purchases because of the surcharges that must be absorbed by retailers for accepting credit-cards.
Like I said, they always win 
|
Marc
Member
Registered: 11th Aug 02
Location: York
User status: Offline
|
I have a Barclaycard. Had the best APR and interest free when I took it out.
Anyone that has issues with a credit card either didn't do their homework or shouldn't have one in the first place.
|
John
Member
Registered: 30th Jun 03
User status: Offline
|
quote:
Originally posted by DaveyLC
But we're all picking up the bill for a slight premium (approx 2%) for purchases because of the surcharges that must be absorbed by retailers for accepting credit-cards.
Like I said, they always win
That means you are losing because I've got a credit card then, I'm no worse off because I'm making that 2% back anyway. That makes it even worse for you 
|
Jamie Walby
Member
Registered: 15th Nov 04
User status: Offline
|
If a retailer is paying 2% charges on their card machine they should get in touch with me. I can put them onto a good bloke who can sort you out a card terminal with fees around the 0.1% mark.
Barclaycard funnily enough.
|
Marc
Member
Registered: 11th Aug 02
Location: York
User status: Offline
|
Amex are scum. their customers aren't much better. Sheepish buggers.
Having worked in retail in the past for 3 years I've come across a lot of Amex customers either kicking off because we didn't accept their little card or they ask if we use it knowing full well it is immoral.
|
John
Member
Registered: 30th Jun 03
User status: Offline
|
I knew that amex wasn't accepted everywhere but what's the problem with it? Free muffins was enough to sell me.
|
dan_m1les
Member
Registered: 8th May 06
Location: Burnham, Buckinghamshire
User status: Offline
|
Back on topic, Barclaycard have balance transfered it to my current account with no fee.
Off topic, I have never paid interest on either of my credit cards.
|
John
Member
Registered: 30th Jun 03
User status: Offline
|
There shouldn't have ever been a fee. If you were doing a balance transfer and using credit it's a different matter, you were basically just wanting a refund though.
|
Marc
Member
Registered: 11th Aug 02
Location: York
User status: Offline
|
quote:
Originally posted by John
I knew that amex wasn't accepted everywhere but what's the problem with it? Free muffins was enough to sell me.
Retailers are charged a fee for accepting the card and customers are typically charged higher apr. All to pay for you free muffin, air miles and other perks.
|
Jambo
Member
Registered: 8th Sep 01
Location: Maidenhead, Drives: VXR Arctic
User status: Offline
|
Davey needs to open up a moneysavingsexpert forum for strange people 
|
ed
Member
Registered: 10th Sep 03
User status: Offline
|
He seems to only come on to tell people not to use financial products. There's this thread and the other one he dug up in GC to have a little preach in too 
|
ed
Member
Registered: 10th Sep 03
User status: Offline
|
quote:
Originally posted by John
There shouldn't have ever been a fee. If you were doing a balance transfer and using credit it's a different matter, you were basically just wanting a refund though.
It's probably the way the person on the phone worded it, they like to sound like they're doing you a favour all the time. Though with a Barclaycard you can transfer credit balance to a current account for a fee, kind of useful if you wanted to bodge an unsecured loan for something you can only buy in cash?
|
Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
|
My guess is davey has been brought up to be 'anti credit'. I know a few people that think the same. It's very odd.
Those same people then go and get a mortgage. the irony.
|
John
Member
Registered: 30th Jun 03
User status: Offline
|
Best living with parents until 60 to save and buy a house outright imo.
|
DaveyLC
Member
Registered: 8th Oct 08
Location: Berkshire
User status: Offline
|
quote:
Originally posted by Ben G
My guess is davey has been brought up to be 'anti credit'. I know a few people that think the same. It's very odd.
Those same people then go and get a mortgage. the irony.
That's such a weak argument for credit; mortgages are a very different affair as you are buying something that will inevitably be worth more money than what you paid for it..
|
spencer88
Member
Registered: 6th Oct 08
Location: cornwall
User status: Offline
|
quote:
Originally posted by DaveyLC
quote:
Originally posted by Ben G
My guess is davey has been brought up to be 'anti credit'. I know a few people that think the same. It's very odd.
Those same people then go and get a mortgage. the irony.
That's such a weak argument for credit; mortgages are a very different affair as you are buying something that will inevitably be worth more money than what you paid for it..
Really?
inevitably be worth more money than what you paid for it..
|
Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline
|
Davey you sound like my Nana.
I've spent about £30k on credit cards and never ONCE a transfer fee or a penny of interest. It's a bit of faff every 18months granted, to switch cards - but my credit rating is awesome, so I can get pretty much whatever I ask for.
Lotus Elise 111R
Impreza WRX STi
|
Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline
|
And also, I've lost £18k on my house since buying it - so you're wrong on both counts
Lotus Elise 111R
Impreza WRX STi
|
spencer88
Member
Registered: 6th Oct 08
Location: cornwall
User status: Offline
|
quote:
Originally posted by Kyle T
And also, I've lost £18k on my house since buying it - so you're wrong on both counts
Depends, have you actually sold your house, or is it in negative equity?
If the latter, you have not strictly lost, just temporarily in negative equity until the market picks up. Unless you paid over the odds for a shit box
|
DaveyLC
Member
Registered: 8th Oct 08
Location: Berkshire
User status: Offline
|
quote:
Originally posted by spencer88
quote:
Originally posted by DaveyLC
quote:
Originally posted by Ben G
My guess is davey has been brought up to be 'anti credit'. I know a few people that think the same. It's very odd.
Those same people then go and get a mortgage. the irony.
That's such a weak argument for credit; mortgages are a very different affair as you are buying something that will inevitably be worth more money than what you paid for it..
Really?
inevitably be worth more money than what you paid for it..
Yep, in the long term house prices have been shown to ALWAYS increase..
The average price during a slump proceeding a peak always tends to be the average as that of the previous peak.
Unless your a complete retard and say buy a Brand-new 1 bedroom flat at a premium and sell it 6 months later or buy a place that needs demolishing 
Yeah you can slip into negative equity if you buy at the height of a peak but if you're your own worst enemy if you've stretched yourself to the point that you can't afford to ride it out for a few years.
I've always been taught: only buy what you can afford (with real money) and only borrow if it is for good investment purposes. Because you never know what is around the corner! You might have been playing the game and juggling credit card balances without paying any (or very little) interest but if you lose your job then what do you do? It will start stacking up..
|
Kyle T
Premium Member
Registered: 11th Sep 04
Location: Selby, North Yorkshire
User status: Offline
|
quote:
Originally posted by spencer88
quote:
Originally posted by Kyle T
And also, I've lost £18k on my house since buying it - so you're wrong on both counts
Depends, have you actually sold your house, or is it in negative equity?
If the latter, you have not strictly lost, just temporarily in negative equity until the market picks up. Unless you paid over the odds for a shit box
It's for sale, so I'm in negative equity but (hopefully) a few weeks/months away from losing a shit load of cash
Lotus Elise 111R
Impreza WRX STi
|
DaveyLC
Member
Registered: 8th Oct 08
Location: Berkshire
User status: Offline
|
Why are you selling then? If money is tight, sell the car, buy something cheap, reliable and economical!
|
John
Member
Registered: 30th Jun 03
User status: Offline
|
Some of your views are just a bit mental Davey.
What if you could afford to ride it out for a few years but don't want to be stuck until then. Which is irrelevant anyway, if your house has decreased in value, there's a very good chance that the place you are moving to will also have decreased.
Some of this stuff you aren't even thinking about eve a wee bit.
Credit cards don't have to have anything to do with juggling balances. Are you just ignoring all those people who are telling you their real life experiences of making money from them. It's like using your bank account, except with more protection and you get paid for it.
As long as you are happy with your boring cat c's and whatever house you are in, let everyone else be happy actually understanding how to make credit work for them and not be constrained by ignorance.
|
DaveyLC
Member
Registered: 8th Oct 08
Location: Berkshire
User status: Offline
|
quote:
Originally posted by John
What if you could afford to ride it out for a few years but don't want to be stuck until then. Which is irrelevant anyway, if your house has decreased in value, there's a very good chance that the place you are moving to will also have decreased.
Some of this stuff you aren't even thinking about eve a wee bit.
Give me one good reason to be out of pocket £18k, just one!
Even if you HAD to move (not because of money), the smart thing to do would be to let your current property and buy a new one.
And EVEN if you had to move because of a growing family again, the smart move would be to let your current property and rent a larger one.
So come on.. ONE good reason.. please? Humour me.
[Edited on 18-10-2013 by DaveyLC]
|
