Many people regularly use it.
If you don't pay your normal loan on time you get stung as well. So don't really see the relevance.
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Bank Day - Improving Credit Rating Score
- Thread starter kiawill91
- Start date
Many people regularly use it.
If you don't pay your normal loan on time you get stung as well. So don't really see the relevance.
![[TW]Fox](/data/man-of-honor/2009.png){kind=avatar}
Not at all trying to play a smart alec, but this cashback card is pretty good especially as there are no charges on international purchases:
http://www.nationwide.co.uk/products/credit-cards/select-credit-card/features-and-benefits
Pretty tiny cashback you'll agree! But I earned a welcome sum from using it on purchases this year and at the time I really made the most of the 0% period. Better than a poke in the eye with a stick
Actually that's a great offer and the cashback amount is fairly competitive too (Though you'll get higher introductory cashback offers on other cards which are not 0%).
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Higher interest rates and it's easy to let them spiral out of control. You just need discipline, and be sensible in your budgeting to pay it back. Relying on credit card to buy something which will take you years to pay back is pretty foolish.
[TW]Fox;27160842 said:
I have this card, an old Santander Zero (Halifax Clarity clone) and a Tesco card that had a redonkulously good balance transfer offer (0% for 12 months with no transfer fee!).
I think you'd be foolish not to have credit cards really - so damn convenient. Have probably made a few hundred pounds off them and never paid a penny of interest (well, tell a lie, save for nominal interest for international cash withdrawals).
Not foolish at all.
A bit patronising to say to people, you have to be really sensible.
Some cards offer close to 2 years interest free purchases or balance transfers. It is the cheapest small loan you can get.
If you need a 3-5 year loan the likely amount you'd require would exclude this anyway.
If you are confident enough in your credit score you could cycle through credit cards as some people do.
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Man of Honour
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I'm just offering a friendly warning, no patronising comments at all. I don't need to be as it serves no purpose. The number of threads we've had of people struggling with credit cards and loans on here and on the money saving / expert websites are high. People who live off credit hand to mouth is quite a stressful and dangerous way to live in my opinion.
For sensible worldy wise and complete financial gurus and faultless people like yourself of course it's a great way to get a "free" loan - but say you pay £20k on it, and then pay the minimum off after 18months of 0% you will still have a heck of a large balance to pay off. Sure you can transfer to another CC, but it just becomes a constant weight you have to worry about and constantly manage your money. I'd rather be debt free every month, and not have to worry about paying off a loan, irrespective of whether or not it is interest free.
For sensible worldy wise and complete financial gurus and faultless people like yourself of course it's a great way to get a "free" loan - but say you pay £20k on it, and then pay the minimum off after 18months of 0% you will still have a heck of a large balance to pay off. Sure you can transfer to another CC, but it just becomes a constant weight you have to worry about and constantly manage your money. I'd rather be debt free every month, and not have to worry about paying off a loan, irrespective of whether or not it is interest free.
Deleted quote removed - DirtyJester
classy
I thought I remembered this sort of sentiment:
classy
I thought I remembered this sort of sentiment:
Not at all trying to play a smart alec, but this cashback card is pretty good especially as there are no charges on international purchases:
http://www.nationwide.co.uk/products/credit-cards/select-credit-card/features-and-benefits
Pretty tiny cashback you'll agree! But I earned a welcome sum from using it on purchases this year and at the time I really made the most of the 0% period. Better than a poke in the eye with a stick
no charge within Europe, 1% charge for non-sterling transactions outside Europe
You thinking of buying something for £1,000? You could just save it and then get it! Old fashioned way.
CCs are useful though, I pay mine off end of the month to avoid the charge.
pod
Deleted quote removed - DirtyJester
What a t*%d in the punch bowl this guy is.
It's a fact of life that some folk will have more money than you, most will have a lot less.
If you don't let your happiness become coupled with the amount of money you have you will lead a more successful life.
What a t*%d in the punch bowl this guy is.
It's a fact of life that some folk will have more money than you, most will have a lot less.
If you don't let your happiness become coupled with the amount of money you have you will lead a more successful life.
Yes, you'll be absolutely fine to do that.
However, I would suggest that you would be wise to not get sucked into what is rapidly becoming the gamification of credit scoring. Do not get hung up on the fact that a website tells you that you have a score of 600 and you could make some changes to get a score of 700 etc (example only).
He's the opposite of classy, noveau riche more like.
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If u whack that card up to the limit quickly it will look bad. Spend small and clear in full every month
No, it won't.
Credit Cards are not in the business of giving things away for free. The rely on a percentage (large) of people who won't pay on time, or only pay the minimum balance. Oddly, this *can* also improve your credit score, certainly with that specific lender, because you generate income for them.
Afraid he is right.
If you use it to the limit then your credit rating will suffer. Part of the credit rating calculation is your credit utilisation. Under 30-40% can be good. If you use more you are seen as risky because you're maxing-out your credit line.
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