Credit card or credit to hard work?

[Critical_Mass 10]

Slightly off topic, but has anyone ever done the Experian credit expert thing and had a look at your report and score, had to do mine on friday due to a mix up -was getting worried I'd been cloned, all ok and sorted now though. Makes interesting reading - down side is it adds up all you debt for you, which can be a shock if you've been burying your head in the sand. :shrug: Oh and the CC is well on its way to being payed off.

 

Yup i have ziderapple. It wasnt until i looked at my credit report that i found out T-Mobile had a black mark against me, stating i had an uncleared balance from 4 years ago!!! One phone call to experian, stating i've never been in debt to them and it has been taken off, or rather a note stating not to pay attention to it. You get 30day free and you can cancel it at anytime. If you forget to cancel it you will be charged £5 a month for it.

[herisites 0]

I bought my car when i first started a year (and a half) work placement almost 2 years back now. Used the 2 grand from selling my old fiesta and got a small loan to pay the rest which i paid off so much each month. Then everything else i bought for the car, the suspension, the wheels, bits and bobs, renewing bushes etc etc and including the main supercharging and engine components etc i paid for with purely with my wages over the whole time spent on my placement. Went back to uni October and havent worked since, just done the odd valets and polishing jobs and with that i bought an old polo i ran and paid for doing my engine work and few bits getting my charger set up (including the all expensive 50p remap from Dave :lol:) and ran my corrado since then. Then with the help of paid back tax money (just under a grand :clap:) and selling my old race bike i went round europe in the rado and now i am screeeewed for money until i get a job :lol: even more so now the fcuking charger has given up :(

 

I have a credit card and i have used it, unfortunately its only because i had to use it to pay my tuition fees for the placement year (about £600) and i am just paying that off slowly each month as i am not earning :(

 

Although i have a feeling once i get a job i may be using the cc a bit more to get some boost back on my car :lol:

[Kevin Bacon 5]

.. i never worried as I had a flat i'd been doing up with a friend that i knew i'd be selling at one point, but we just took an offer 10% lower than the asking price which now means that 2 or 3 of those cards aren't getting paid off like i thought they were. :(

:

 

My mate was in the same boat. He bought two flats on a "buy to let" basis 2 years ago when the property market was booming, but he's just sold them at 25% less than what he paid for them, each. He's not a happy bunny.

 

Everyone said 2 years ago, "what goes up, must come down". And it did. The housing market the way it was just not sustainable long term.

No disrespect to you as you come across as an intelligent and likable chap in person, but soooooo many people buy now, with a view to paying for it with money they "might" get later. But then you know that :wink: I've done that myself a few times, LOL!

 

£20k? That's crazy! :shock:

 

It certainly may seem that way, but within the context of my earnings, it's not that great a sum :D. Sorry if that sounded arrogant, wasn't meant to sound big headed. I only spend within my means now. Credit cards are just easier for me as I buy a lot of stuff over seas.

I used to be in a sea of debt and had to remortgage a few times to clear it. But I've moved away from that now.

[g60karmann 0]

I'm with cheesewire, I buy on the AMEX if possible (most places don't take it in england :( ) and then pay off the entire balance when I can every month. You get so many benefits when purchasing with AMEX like insurance, money back if you find it cheaper elsewhere, nectar points, etc, etc, that paying with cash up front just wont get you. If you get work done at a garage and pay with AMEX they have a big strong legal team behind them that can deal with disputes for you, this alone scares most places that do a bad job to just fix it than argue with you.

 

Well thats just my thought on using credit cards and it all depends on how good you are with moving your money around to the right places.

[the delta force 0]

Didn't sound arrogant at all. :)

 

Roll on December.....