penguin Posted May 31, 2005 Share Posted May 31, 2005 W4nk3RS..... .... already in a mountain of debt, and they give me an extra £2000 .... Quote Link to comment Share on other sites More sharing options...
cashpoint Posted May 31, 2005 Share Posted May 31, 2005 Ever heard of restraint or self control? Quote Link to comment Share on other sites More sharing options...
penguin Posted May 31, 2005 Author Share Posted May 31, 2005 no Quote Link to comment Share on other sites More sharing options...
terribleturner Posted May 31, 2005 Share Posted May 31, 2005 Why do they do that?? You spend up to your limit and they turn round and give you more. Quote Link to comment Share on other sites More sharing options...
Scoboblio Posted May 31, 2005 Share Posted May 31, 2005 Because they're in business to make money... and to them you're one big walking pound sign! Quote Link to comment Share on other sites More sharing options...
RedM Posted May 31, 2005 Share Posted May 31, 2005 I've managed to get 12,000 on my credit card. They are just asking for me to spend it all and then 'vanish'. You can ring them and ask them not to increase the limit. Quote Link to comment Share on other sites More sharing options...
Ian R Posted May 31, 2005 Share Posted May 31, 2005 I've managed to get 12,000 on my credit card. They are just asking for me to spend it all and then 'vanish'. . Think of the MODS you could do with that Quote Link to comment Share on other sites More sharing options...
merckx Posted May 31, 2005 Share Posted May 31, 2005 Ever heard of restraint or self control? no Very funny! Quote Link to comment Share on other sites More sharing options...
merckx Posted May 31, 2005 Share Posted May 31, 2005 Even worse , or better for that matter are the ones with interest free on transfers. Is it possible to keep getting a new card and putting your debt on that and never ever pay it off! Quote Link to comment Share on other sites More sharing options...
how_supra Posted May 31, 2005 Share Posted May 31, 2005 I am the queen of credit cards. I wish I had never applied for them all...........all I can say is, never again. My advice is - cut the card up then you can't do anything spontaneous and you won't Quote Link to comment Share on other sites More sharing options...
garetheves Posted May 31, 2005 Share Posted May 31, 2005 Even worse , or better for that matter are the ones with interest free on transfers. Is it possible to keep getting a new card and putting your debt on that and never ever pay it off! It is, in theory, but in practice every time you take a new one out, they do a search on your credit history. Now what a lot of people dont realise is that the more credit searches are on your file, the more it is frowned upon, in the same way that a black mark on your file (for not paying bills etc) is. Therefore after doing it 4-5 times or whatever, places would soon start rejecting you for cars, phones etc. I knot this cos i aswell have no restraint when it comes to spending money and looked at this as a way of not having to pay interest. Quote Link to comment Share on other sites More sharing options...
how_supra Posted May 31, 2005 Share Posted May 31, 2005 It is, in theory, but in practice every time you take a new one out, they do a search on your credit history. Now what a lot of people dont realise is that the more credit searches are on your file, the more it is frowned upon, in the same way that a black mark on your file (for not paying bills etc) is. Therefore after doing it 4-5 times or whatever, places would soon start rejecting you for cars, phones etc. I knot this cos i aswell have no restraint when it comes to spending money and looked at this as a way of not having to pay interest. Absolutely and even transferring balance between cards is not recommended, because everytime you spend on a credit card or transfer balance it is recorded on your credit file. I got a copy of mine a few months back and there is so much information on there, including every single search that has been done in my name in the last 12 months. Quote Link to comment Share on other sites More sharing options...
cashpoint Posted May 31, 2005 Share Posted May 31, 2005 I'm on my 6th CC now with the tranfers thing. But i'm also at my 3 address in that time. The last time i got my credit history the first 3 Cards weren't mentioned. So to keep a good rating move Quote Link to comment Share on other sites More sharing options...
how_supra Posted May 31, 2005 Share Posted May 31, 2005 I'm on my 6th CC now with the tranfers thing. But i'm also at my 3 address in that time. The last time i got my credit history the first 3 Cards weren't mentioned. So to keep a good rating move That's not the case with me. I've moved countless times over the past few years, mostly because I had several addresses at Uni. But since moving to Wycombe, I am now on my second house in almost two years and it has caused me serious issues with getting credit for anything. :thumbdown Quote Link to comment Share on other sites More sharing options...
Syed Shah Posted May 31, 2005 Share Posted May 31, 2005 You can ring them and ask them not to increase the limit. You can, but for some bizarre reason, this affects the amount of credit you can get later. For example, if your limit is 10k, and they up it to 15k, and you decline, and then ask later for it to go up to 12k, they often say no! Pressure to make people accept the increases I think. Self-restraint is indeed the only answer, just because you have a giant CC limit does not mean you have to use it! Quote Link to comment Share on other sites More sharing options...
Fifty Posted May 31, 2005 Share Posted May 31, 2005 I have 4 cards all with £K12 limit and theyre all almost blank BUT caution its a rip off. Interests rates are ridiculous! You should pay off every month what you owe. 50 Quote Link to comment Share on other sites More sharing options...
DaveRex Posted May 31, 2005 Share Posted May 31, 2005 As long as you make the monthly payments on time etc, then credit history is a good thing Quote Link to comment Share on other sites More sharing options...
RedM Posted May 31, 2005 Share Posted May 31, 2005 With regard to 0% interest I didn't bother with that. Back when I had a HUUUGE debt I transfered it all to a new card with a very low interest rate for the life of the repayments. I never used it for purchase and month by month brought the figure down. It was actually pretty cool comparing the final payments to the first ones. The ones where you pay an amount and the following month get most of it back in interest charges! It worked out a lot better (in the very long run) than having to change cards every 6-9 months, credit history looks good and I still have my old 12K card with I use only for internet purchase, insurance etc. As for what Ian R said about the amount of mods you could do with that, well, I could get me a Supra with it. But the biggest lesson I learnt with cards is that I didn't have 12k spare this morning and I won't have it tomorrow. If you can't afford to pay it all back straight away then don't put it on a card. Quote Link to comment Share on other sites More sharing options...
Supragal Posted May 31, 2005 Share Posted May 31, 2005 I am the queen of credit cards. I wish I had never applied for them all...........all I can say is, never again. A CHALLENGER ENTERS THE ARENA! Quote Link to comment Share on other sites More sharing options...
how_supra Posted May 31, 2005 Share Posted May 31, 2005 A CHALLENGER ENTERS THE ARENA! I felt like a child in a candy store when I started working. The worst part was that I was on my industrial placement at University. That is a recipe for disaster. Go on then..........how many ???? Quote Link to comment Share on other sites More sharing options...
Supragal Posted May 31, 2005 Share Posted May 31, 2005 LOL I've only got about 8 now I cut a load up when the 0% ended and I'd moved the balance. Only 2 of those have anything on them and in fact 2 others are in credit! SO I'm not that bad. It's mostly Uni debt (hahahahhahahaaaa yeah right) Quote Link to comment Share on other sites More sharing options...
terribleturner Posted May 31, 2005 Share Posted May 31, 2005 Bloody students Quote Link to comment Share on other sites More sharing options...
how_supra Posted May 31, 2005 Share Posted May 31, 2005 LOL I've only got about 8 now I cut a load up when the 0% ended and I'd moved the balance. Only 2 of those have anything on them and in fact 2 others are in credit! SO I'm not that bad. It's mostly Uni debt (hahahahhahahaaaa yeah right) flippin heck.........I bow down at the queen. I had 5 at one point, managed to max them all out. Used to go on random shopping trips to Milton Keynes and it would not be unusual for me to spend £400 a time. I'm down to three now. Refuse to use them............. Quote Link to comment Share on other sites More sharing options...
Darren Posted May 31, 2005 Share Posted May 31, 2005 What about when they send you a statement with a blank cheque attatched to it!!! Thats like incitement to spend, you already have the card why do you need a cheque?? Madness...... Quote Link to comment Share on other sites More sharing options...
Class One Posted May 31, 2005 Share Posted May 31, 2005 I owed at one point about 15k on cards. In the end i took a loan out cut them all up and paid them off. I now have one card with very little owing on it but at one point had 5 cards with a total credit limit of about 43k. Thank god i never got in THAT deep. The problem these days is how easy it is to get credit. And then spend it. I remember the days of 33% interest plus on cards and that could happen again. 33% on 12k anyone? 15% on your 200k mortgage? A massive pot of poo awaits alot of people. Quote Link to comment Share on other sites More sharing options...
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