Students Credit Card

[clearedforlanding]

Nope. You have to prove you can handle being in debt.

Unless you want to rent all your life you will need a mortgage which is a massive debt.

Renting your whole life seems to work for the Germans.

Property ownership is a liability when it is ones primary residence. A mortgage sacrifices flexibility and mobility which are two of the value propositions that a contractor still holds has control of.

The UK has a disfunctional system that relies on a mortgage system. A mortgage system that extends term because capital gain is greater than income growth. Term is needed to increase final value
of sale.

Debt is debt. Let's stop calling it credit.

I use debt as a tool, one that becomes more powerful as interest rates increase. I buy debt cheap, spend it on assets and when it is time to settle said debt, either buy more or settle it.

But who the **** am I to talk about this. I started running cable and now own a company that dominates it's sector.

The most astute example in this thread comes from NLUK (which is often the case) who rolled 0% credit cards to buy his first apartment.

In the current climate, if I was not a drunken rambling millionaire, I would rent, if a contractor.

If I had a crystal ball that said I would stay put for a finite period of time by which my interest was paid down, a mortgage might make sense.

The steaming tulipty reality is the main reason that a mortgage is such a life goal is that the tenancy laws in the UK are so tulip, that a mortgage is the better of 2 evils.

If tenancy laws were reformed to offer a tenant dignity and stability, this construct of upward wealth creation would be a non issue.

A system where one must use debt to create a foundation for the bottom of there psychological pyramid of needs is defunct and an insult to our children.

Go and get a credit card so over time you will not have to bend over to a property owner as you have shown you can tolerate debt is a boring, dangerous distopia.

[clearedforlanding]

*their

And other typos.

[d000hg]

Renting your whole life seems to work for the Germans.

If you want to rent that's fine. I never said you shouldn't, but in the UK most aspire to own their own home. That's the reality.

Debt is debt. Let's stop calling it credit.

I don't think anyone is, they're not the same thing.

[ladymuck]

I tend to see debt as credit that you can't manage.

There is nothing wrong with taking credit, or being in debt, if you can afford the repayments.

[clearedforlanding]

If you want to rent that's fine. I never said you shouldn't, but in the UK most aspire to own their own home. That's the reality.


I don't think anyone is, they're not the same thing.

https://www.investopedia.com/terms/d/debt.asp

[clearedforlanding]

I tend to see debt as credit that you can't manage.

There is nothing wrong with taking credit, or being in debt, if you can afford the repayments.

The interest rate is the main factor to consider, affordability of repayments comes after.

[d000hg]

https://www.investopedia.com/terms/d/debt.asp

Not sure what you think you're proving other than the ability to use a search engine. You can have credit without being in debt.

[clearedforlanding]

Not sure what you think you're proving other than the ability to use a search engine. You can have credit without being in debt.

Thank you. I had not thought of it that way.