MatthewR
Member
Registered: 21st Oct 02
Location: Rickmansworth
User status: Offline
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in regards to paying back? Is there a certain time that you have to pay the money back? can u pay as much or as little as you choose and whenever you want? or is there a set amount you have to pay over a period of time.
imt hinking of getting one from the bank as i got refused an Egg card and i need to pay for a new gearbox and clutch  soon.
Thanx
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Kerry
Member
Registered: 5th Oct 01
Location: Norwich
User status: Offline
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min monthly payment is a % of outstanding balance
you can pay more than that though and u get choice of direct debit or pay when bill comes at bank or postoffice or online with some lenders
if you set up a direct debit its usually either for the min payment or the full amount
if u only pay the min each month though u pay shit loads in interest and takes forever to pay off
[Edited on 27-12-2005 by Kerry]
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danny_vx
Member
Registered: 20th Feb 05
Location: Swansea
User status: Offline
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Kerry summed it up pretty much.. can't think of anything else to add.
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MatthewR
Member
Registered: 21st Oct 02
Location: Rickmansworth
User status: Offline
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can u just ring up and pay over the phone kez?
thanx btw
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Kerry
Member
Registered: 5th Oct 01
Location: Norwich
User status: Offline
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yeh with most lenders you can
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MatthewR
Member
Registered: 21st Oct 02
Location: Rickmansworth
User status: Offline
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Ok thank u
6 years i managed to put it off for
Ah well, bodyshop time aswell maybe
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Kerry
Member
Registered: 5th Oct 01
Location: Norwich
User status: Offline
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have u had a credit card before?
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MatthewR
Member
Registered: 21st Oct 02
Location: Rickmansworth
User status: Offline
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nope
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Rebrabuk
Member
Registered: 28th Mar 04
Location: North East
User status: Offline
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I know little about cars, but new gearbox and cluth isn't going to be cheap is it?
So wouldn't you be better off applying for a loan rather than a credit card? Atleast then you can't carry on spending money that you haven't got, where as with a card you might be tempted to add bits and pieces here there and everywhere onto your card and it'll get on top of you... 
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MatthewR
Member
Registered: 21st Oct 02
Location: Rickmansworth
User status: Offline
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ive already got a loan dude, i will look into it though
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Kerry
Member
Registered: 5th Oct 01
Location: Norwich
User status: Offline
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i think u might be best increasing your loan unless you get a 0% interest card and educate yourself to pay it off in that time
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MatthewR
Member
Registered: 21st Oct 02
Location: Rickmansworth
User status: Offline
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i doubt id be able to pay it off kerry, will look into getting a loan, have to wait and see how fcuked my car is first
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Kerry
Member
Registered: 5th Oct 01
Location: Norwich
User status: Offline
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its a difficult one
personally i think credit cards are bad especially if u have to resort to getting one from your bank as they tend to charge higher rates of interest
they are ok as a short term resolution but if misused you could find yourself stil paying it off in 3 years time with the same balance
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MatthewR
Member
Registered: 21st Oct 02
Location: Rickmansworth
User status: Offline
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I see, I think i will wait and see how bad my car is.
Thanx for the info
happy new year
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ssj_kakarot
Member
Registered: 29th Apr 03
Location: hartlepool
User status: Offline
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well you could always get a 0% arp card for say 6 month they usually are, then when the 6th month ends you can just tansfer the rest of the ammount to another card and get another 6 month intrest free, keep doing this till the debt has been paid, if ya smart you end up not paying any intrest at all however, its probs not the best way to do things.
i wouldnt do that to be honest, but lots of people seem to.
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~*~*KaTiE*~*~
Member
Registered: 8th Oct 05
Location: sat in a tree
User status: Offline
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quote:
Originally posted by Rebrabuk
I know little about cars, but new gearbox and cluth isn't going to be cheap is it?
So wouldn't you be better off applying for a loan rather than a credit card? Atleast then you can't carry on spending money that you haven't got, where as with a card you might be tempted to add bits and pieces here there and everywhere onto your card and it'll get on top of you...
there axpensive, but not expensive enough to have a loan for
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ClaireF
Member
Registered: 1st Nov 05
Location: hurlford, scotland Drives: corsa again
User status: Offline
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credit cards i will never get, cos i will just spend and spend. But i always get in debt wioth parents owing over a grand all the time. But i now have a student loan, where i still have probs cos i spend that
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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Apply for two cards - one at whatever rate - it doesn't matter as you won't be paying. The other a week later at 0% introductory rate, with the same credit limit. Buy the stuff on the first card then straight away do a balance transfer on to your 0% card, voila, 0% interest on your bits.
Make sure you pay enough off to have it all paid back before the introductory period ends, and don't spend on your 0% card as the payment will go against your 0% debt and not your debt with interest on that card, which will be building up.
Think of it like two debts - the balance transfer one and any additional spending. The additional spending will attract interest and won't be paid off until the 0% one is in full.
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