How likely am i to get a pc on credit from overclockers. My credit score is...
- Thread starter Carl81
- Start date
Yeah. But if you can pay that 5k off at the end of the term. While earning interest in that 5k why not?
5k in bank + 5k of debt = 0
0 in the bank + 0 debt =0
Except with the former you get a few hundred of interest
I have 10k of Credit card debt.
I also have 12k in easy access savings earning 5pc ish.
I'll end up just under 500 a year better off because of it
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Don
Associate
I understand, but I've only paid for things.
The only thing I've got on "finance" is my house. I was brought up that way. If I don't have the money, I don't buy stuff. Then again I am tight, so more often than not I do have the money but still don't buy anything
Caporegime
This is what i do with my phone...
£1k in the bank, earning interest over 2 years at 5% = free £120.
That means the £1,000 phone is £880, vs had it paid it upfront. The discipline is not touch that £1,000.
(I am doing the math as if you just keep that £1000 in the account and don't draw from it and pay it off monthly from salary, so in practice you will get less than £120, but the idea of it is sound, you still pay less than had you paid up front...in today's high interest rate climate).
No? Howabout the £400-£500 in interest, which is money down the drain?
You'd rather pay almost £2.5k over 2 years and get into more debt instead of just paying £2k and having no debt?
Because many people don't have the discipline and the companies offering credit know this.
For instance my friend always swears up and down he will pay off the debt within the 0% interest window, but he never does and ends up being whacked with a huge interest rate. Somehow he still loves the idea of credit.
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What about a good pc
I'm never sure why I get these 0pc deals. As my history will show I pay it off every time. So not sure why I keep getting accepted if there's no profit?
You are in the minority that's unprofitable for them and I'm not sure that's grounds for them denying you. At least they are not losing money on you (those are the ones they are really worried about).
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Don
Encouraging you to buy something that you might otherwise not have done, just because it's 0%?
But it's generally balance transfers.
So they don't even get the CC fee.
You often see 12 months 0pc with 0pc fees.
Why advertise this to people who have perfect pay back history?
Permabanned
I understand, but I've only paid for things.
The only thing I've got on "finance" is my house. I was brought up that way. If I don't have the money, I don't buy stuff. Then again I am tight, so more often than not I do have the money but still don't buy anything
Christ, I wish I'd married you instead....
Hopefully you ain't a bloke mind you.....
Caporegime
Ignore. The crap advice.
Get the 1337 new pc and slay noobs.
Most of these guys are old and low skill.
Get the 1337 new pc and slay noobs.
Most of these guys are old and low skill.
Maybe some rules? Ie, they legally can't deny me?
Or maybe I guess they hope I just slip up.
Soldato
This, SO MUCH THIS. Just don't bother with finance on anything unless it's critical for your living situation. Just save up, it'll be a lot more rewarding once you finish it.
Soldato
Either its profitable, i.e. % of people slip up.
Or, they are buffing revenue figures while offering products at a loss.
I have noticed a sharp decline off 0pc deals with 0pc fees on offer now.
I'm not sure if this is just for me or they are just vanishing due to base rate.
There used to be a fair few, enough that I could just shift the balance again and again. Which on 10k of debt is a chunk of interest at 5pc.
So maybe the landscape is changing.
Just done a quick look. Not a single 0pc fees offer.
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