Whose got the trousers on?

[Old Hack]

and you want a credit rating why ?

It's about having a good credit history. Lots of people struggle to get mortgages and car loans, etc, if they don't have credit, or haven't had credit, as what they want to see, if you paying regurlarly, or the showing the ability, gumption to pay credit regurlarly. If you have no credit history as such, then they will look sceptically at you.

We maintain about 40k limit on Credit cards, and pay off monthly, just so if we did need to borrow a large sum, it would go through quickly. We managed to get 2nd and 3rd mortgages approved over the phone for our other houses. It's about showing an ability to pay that they like.

Of course, they can also stiff you, for once they decide you are over leveraged, they can quickly triple a credit card rate, which I have been told has been done before.

It's a balance really; no credit bad, too much credit bad...

[MarillionFan]

I buy stuff off of the internet all the time with my Visa Debit, and any time the goods haven't arrived the purchase has been covered under exactly the same Chargeback scheme as Visa Credit cards use.

Are there any other marketing myths or old wives tales you've chosen to believe to rationalise your decision to access easy credit? Do you think you can't get a passport without a credit card, maybe? Or perhaps you believe those of use that choose not to use them can't register to vote?

I have two debit cards. one for risky stuff that has a balance of about £100 at any one time.

If I am going on a trip I put a grand on it, or some such.

you still have not explained why someone who doesn't have one and never intends to get one needs a credit score and is naive not to consider it

I knew you two reminded me of a couple.



'Arold!!! Arold!!! Gentile to EO, 'You dirrrrrtttttyyyyy old man!'

[Old Hack]

Oh, and we both discuss the financial stuff around the house, and anything else really. We've always had a rule that if we're both not 100% comfortable with something, then we don't do it.

However, it's been know that after discussing purchasing something of note, which has been turned down, I have bought it anyway, knowing the heat dies down after a few days, and I am normally somewhere else anyway. Did it on a 50" TV. Wife actually cried when it was delivered as it was really, really big and she hated it. Luckily the kids got on board quite quickly.

[EternalOptimist]

It's about having a good credit history. Lots of people struggle to get mortgages and car loans, etc, if they don't have credit, or haven't had credit, as what they want to see, if you paying regurlarly, or the showing the ability, gumption to pay credit regurlarly. If you have no credit history as such, then they will look sceptically at you.

We maintain about 40k limit on Credit cards, and pay off monthly, just so if we did need to borrow a large sum, it would go through quickly. We managed to get 2nd and 3rd mortgages approved over the phone for our other houses. It's about showing an ability to pay that they like.

Of course, they can also stiff you, for once they decide you are over leveraged, they can quickly triple a credit card rate, which I have been told has been done before.

It's a balance really; no credit bad, too much credit bad...

what you are saying is that if you buy into the game, a good credit rating is important. Still waiting to hear why it's important to people who dont play the game
why are they naive ?

[speling bee]

I wear the trousers but she tells me which ones to wear.

[Old Hack]

what you are saying is that if you buy into the game, a good credit rating is important. Still waiting to hear why it's important to people who dont play the game
why are they naive ?

I don't think anyone is being naive not playing the game, but I think it is true to state that if you want to be in a position to get money in a hurry, then it is a good thing. We're cashing in on our other houses next year and buying a small holding with out buildings. If we need money to renovate some of the out building, we know we can get it relatively easily, and quickly. If we weren't in this position, then we'd have to jump through a lot more hoops.

For me, having a good credit rating means I will not miss out on an opportunity really. My war chest is, relatively, small, as most of our money gets popped off the mortgages, so if I did need money quickly, I know I can get it. Once we have the smallholding up and running, and the outbuilding ready for letting, I am unsure if I'd change it all, to be frank.

[EternalOptimist]

I don't think anyone is being naive not playing the game, but I think it is true to state that if you want to be in a position to get money in a hurry, then it is a good thing. We're cashing in on our other houses next year and buying a small holding with out buildings. If we need money to renovate some of the out building, we know we can get it relatively easily, and quickly. If we weren't in this position, then we'd have to jump through a lot more hoops.

For me, having a good credit rating means I will not miss out on an opportunity really. My war chest is, relatively, small, as most of our money gets popped off the mortgages, so if I did need money quickly, I know I can get it. Once we have the smallholding up and running, and the outbuilding ready for letting, I am unsure if I'd change it all, to be frank.

thanks for that, I wasnt sure if I was missing something. seems the escape artist is missing something

[speling bee]

thanks for that, I wasnt sure if I was missing something. seems the escape artist is missing something

It would be quicker to list things he's not missing.

[Old Hack]

thanks for that, I wasnt sure if I was missing something. seems the escape artist is missing something

It just makes like easier if you do want access to money as and when you need it. That's all. If your money is all tied up, as mine is, then you do have options if something comes up, which would be unmissable. My wife is currently trying to get us to buy an old bungalow on a large corner plot near bude. Tempting, as it's an opportunity.

[speling bee]

I sometimes us a credit card to cover expenditure in Fef / Mar if I don't want to go over the higher rate threshold.