How likely am i to get a pc on credit from overclockers. My credit score is...

When I was about 10 or 11 there was a bloke opposite who had a new Rolls Royce every couple of years or so and his wife drove a mint Facel Vega III.

I was curious one day and asked what he did. My old man said he was a money lender, not a nice man, who got people in debt they couldn't really afford, then charged compound interest. I looked up compound interest and later salivated over the arrival of a new Silver Cloud III "Chinese Eye" Continental Coupe. If I had been able to get my hands on some serious dosh I'd have been in juvenile competition with old Mr. White, for sure :) The guy looked like a Savile Row suited Arthur Daley with a dodgy looking cauliflower eared chauffeur no one in their right mind would mess with. Never a lender nor a borrower be sounded utterly farcical to me in those days, especially the lender bit....
 
edit to removed quoted post.

To OP, this would be “credit” and fine if you have a plan to pay it off perhaps more quickly, sometimes the protection afforded by the credit agreement can be useful. However it’s definitely “debt” if you are going to let it bounce along at minimums because you can’t resist the urge.

No doubt though OC finance will be expensive, so if you want to use credit I would suggest applying for a new 2k credit card with the lowest interest rate possible (from a “proper” lender) and plan to pay the balance off in a year. 0% would be ideal but no idea what you will get. When paid, never use the card again and settle the account. This will be good for your credit worthyness.

In summary, plan to pay it off at £250 a month, and if you can afford that (and stick to it) your “rappage” will be minimal.

Some here really do hark back to the 1950s :D
 
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Nothing wrong with credit. As Martin Lewis usually says, it's about managing the payments and being savy. Don't be scared of credit but you need to be smart and manage it. And having some debt is actually better for your credit score. Get a mortgage and watch your score increase! The problem with credit is people that get it and then fudge it up. I often buy on credit card, or occasionally get finance and show that I am a responsible with my money. Some people just seem out right scared of it which is bizarre.
 
Firegod said:
Nothing wrong with credit. As Martin Lewis usually says, it's about managing the payments and being savy. Don't be scared of credit but you need to be smart and manage it. And having some debt is actually better for your credit score. Get a mortgage and watch your score increase! The problem with credit is people that get it and then fudge it up. I often buy on credit card, or occasionally get finance and show that I am a responsible with my money. Some people just seem out right scared of it which is bizarre.
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Some people know they can't control themselves and don't use it = good
Some people have control and use it well = great
Some people just don't like it, but can control themselves = meh

Then you get those who use it, and can't control themselves = game over man, game over.
 
413x said:
Yeah absolutely.
For people like this they get the benefit once.
After that you are now having to pay off that before you get the next thing.

But you don't.

You get more and more of these.. From my perspective the rules are loose. I feel I could sign up to every offer and not be declined. Very (the retailer) pushed thier credit facility quite hard I remember.

I think I got a discount for it. Paid it off and cancelled. But it's not easy to cancel and they keep pushing new offers on you.
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Exactly what I did with very for my last iPhone, it was on offer, I got Quidco and then a chunk of money for paying on interest free credit. I kept my cash in the bank for 12 months earning interest and got the phone at a significant saving.

It is pretty horrible the way the industry tries to suck people into a nasty debt cycle with these offers but they can be a great deal for those able to play the system.

Back to the OP if you are paying interest in a credit card debt pay it off before you take anymore and don’t take any sort of loan with interest attached to it to pay for a PC!
 
Credit score is just an indication as to your worthiness but every lender wouldn't see your credit report as you do, more likely get a data stream fed to their systems from the big credit ref agencies that's then threw around a system and lots of algorithms to determine if they'd lend to you. Even best credit rating in the world can still get declined.

My past experience is the reasons I've been declined, think Tesco credit card, whilst they wouldn't tell you I couldn't remember all my address history and I'd moved around a bit and I'd lived in student accommodation in the past 3 years but couldn't remember if I used that address or my parents, now I've been in the same place 3 years that bit is a non issue. The electoral role can apparently cause issues if you ain't on it.
 
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willhub said:
Credit score is just an indication as to your worthiness but every lender wouldn't see your credit report as you do, more likely get a data stream fed to their systems from the big credit ref agencies that's then threw around a system and lots of algorithms to determine if they'd lend to you. Even best credit rating in the world can still get declined.

My past experience is the reasons I've been declined, think Tesco credit card, whilst they wouldn't tell you I couldn't remember all my address history and I'd moved around a bit and I'd lived in student accommodation in the past 3 years but couldn't remember if I used that address or my parents, now I've been in the same place 3 years that bit is a non issue. The electoral role can apparently cause issues if you ain't on it.
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Yup your post is pretty much spot on, and yes VR (voter's roll) trace is the biggest factor of any of them.
 
ColdAsIce said:
I've used the OCUK credit option twice. I've always paid it off before the interest kicks in though. OP get yourself a 4090 lad, you only live once <3
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What OP expects to happen:

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What will actually happen:

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Also Cat YOLO because I love cats:

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Seriously, just don't do it. Your shiny new PC will be out of date and worth noting before you've even finished paying off the debt.

I'd only ever take on debt for things that are utterly essential to your day to day life. The only debt I have is my mortgage and I'm working hard to get rid of that.

People just don't seem to have the patience to save up for things they want these days :(
 
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ColdAsIce said:
I've used the OCUK credit option twice. I've always paid it off before the interest kicks in though. OP get yourself a 4090 lad, you only live once <3
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How long is OcUK credit for - both the maximum term (in years) and the 0% phase (in months)?

I've taken PayPal credit a couple of times for £1000ish handsets and it was 4 months at 0%. So I paid £200 off straight away then put reminders to pay £200 4 more times towards the end of months 1, 2, 3 and 4. I've also done PayPal pay-in-3 for £850 worth of DJ equipment which is direct debit based and you're debited approx. £280 at the end of months 1, 2 and 3.
 
Pawnless Endgame said:
How long is OcUK credit for - both the maximum term (in years) and the 0% phase (in months)?

I've taken PayPal credit a couple of times for £1000ish handsets and it was 4 months at 0%. So I paid £200 off straight away then put reminders to pay £200 4 more times towards the end of months 1, 2, 3 and 4. I've also done PayPal pay-in-3 for £850 worth of DJ equipment which is direct debit based and you're debited approx. £280 at the end of months 1, 2 and 3.
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Pretty sure I've had 0% for 18 months before. 100% a year minimum. I've always had it paid off a 1 month - 6 weeks before the interest kicks in.
 
It funds capitalism as well.

People often complain the rich are getting richer and the rich/poor divide is getting bigger, and whilst this is true, and a big problem, the money still has to come from somewhere.
 
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