A big rate cut at last !!?? I hope........

[Cyberman]

You are obsessed with interest rates, yet I noticed on a credit card statement I received today that the APR (on a platinum card) is 22% for purchases.

Anyone who owed on loans and cards is screwed regardless of interest rates. You seem to assume that the mortgage is the only form of borrowing people have. That might be true on this board but not in the real world where the majority live.

EDIT: in other words, rates cuts will make NO DIFFERENCE to Mr. Average

Interest rates do make a big difference to Mr Average. He works for the Average company that borrows and he borrows himself for his mortgage. I am amazed that you can say interest rates make no difference. I am paying 4.5%on my mortgage which would be 7% if I had not switched from the Abbey. That is a lot of dosh difference!!!! 3,000 pounds a year in fact.

Personally, I pay off my credit card every month. Nobody in their right mind should borrow longterm on a credit card.

[Bob Dalek]

Interest rates do make a big difference to Mr Average. He works for the Average company that borrows and he borrows himself for his mortgage. I am amazed that you can say interest rates make no difference. I am paying 4.5%on my mortgage which would be 7% if I had not switched from the Abbey. That is a lot of dosh difference!!!! 3,000 pounds a year in fact.

Personally, I pay off my credit card every month. Nobody in their right mind should borrow longterm on a credit card.

Sadly, I can vouch for that.

[Platypus]

Nobody in their right mind should borrow longterm on a credit card.

I agree, but then circumstances kicked me hard while I was down.

Life can suck.

[EternalOptimist]

I agree, but then circumstances kicked me hard while I was down.

Life can suck.

sympathy mate.

Is it pie in the sky for someone to say ' I never have had and never will use a credit card' ?
Is it possible that people who say that have just been plain lucky so far, and dont really have a clue ?

[TykeMerc]

sympathy mate.

Is it pie in the sky for someone to say ' I never have had and never will use a credit card' ?
Is it possible that people who say that have just been plain lucky so far, and dont really have a clue ?

Pretty much yes.

[BrilloPad]

Interest rates do make a big difference to Mr Average. He works for the Average company that borrows and he borrows himself for his mortgage. I am amazed that you can say interest rates make no difference. I am paying 4.5%on my mortgage which would be 7% if I had not switched from the Abbey. That is a lot of dosh difference!!!! 3,000 pounds a year in fact.

Personally, I pay off my credit card every month. Nobody in their right mind should borrow longterm on a credit card.

So if you save 2.5% over a year - which equals £3000 - your mortgage is £120k?

[Cyberman]

So if you save 2.5% over a year - which equals £3000 - your mortgage is £120k?

Pretty close !!!