What do banks consider a large loan?
Options
Comments
-
DFW Nerd #025DFW no more! Officially debt free 2017 - now joining the MFW's!
My DFW Diary - blah- mildly funny stuff about my journey0 -
-
essex.cyclist wrote: »On the previous page you will find a post, aimed at you, where I say this:
"I've not managed my money well this year but that is a short term issue on my part and not part of a wider problem."
As I say, time for you to step back and actually read what people are writing - you'll look less ignorant that way.
But your not reading my posts thoroughly and replying to the points I am making. Your just intent on discussing how ignorant I am and how wrong I am about you, which could be considered ignorant in itself.
The two points I would be interested in your reply about that is related to your original question:
1. The comments I made about how you said you wanted a 10k loan but could cope with 7.5k. Its always best to borrow only what you need so borrowing 10k when you only need 7.5k then you are paying unnecessary interest.
2. Why not look for a loan next year instead of now because they don't need the money back until next spring so the amount you can save in that time will mean you can borrow less.
3. Have you considered a 0% money transfer cards instead of a loan to save interest. But obviously not until next year when they need the money back.
You have ignored all these points I have made on this thread and chosen to reply to other parts of my posts. Your the one who is then calling me ignorant :rotfl:0 -
But your not reading my posts thoroughly and replying to the points I am making. Your just intent on discussing how ignorant I am and how wrong I am about you, which could be considered ignorant in itself.
The two points I would be interested in your reply about that is related to your original question:
1. The comments I made about how you said you wanted a 10k loan but could cope with 7.5k. Its always best to borrow only what you need so borrowing 10k when you only need 7.5k then you are paying unnecessary interest.
2. Why not look for a loan next year instead of now because they don't need the money back until next spring so the amount you can save in that time will mean you can borrow less.
3. Have you considered a 0% money transfer cards instead of a loan to save interest. But obviously not until next year when they need the money back.
You have ignored all these points I have made on this thread and chosen to reply to other parts of my posts. Your the one who is then calling me ignorant :rotfl:
You're right, I am ignoring those parts of your posts.
Based on your ignorance, I have decided that I have no wish to receive financial advice from you.
Besides which, I have now made my decision and acted on it, thanks to the advice of decent members of this forum.0 -
As much as the plot continues to thicken, have you applied for the loan? Did you go for the full 10k or a smaller amount? Were you successful/get the advertised rate?0
-
But your not reading my posts thoroughly and replying to the points I am making. Your just intent on discussing how ignorant I am and how wrong I am about you, which could be considered ignorant in itself.
The two points I would be interested in your reply about that is related to your original question:
1. The comments I made about how you said you wanted a 10k loan but could cope with 7.5k. Its always best to borrow only what you need so borrowing 10k when you only need 7.5k then you are paying unnecessary interest.
2. Why not look for a loan next year instead of now because they don't need the money back until next spring so the amount you can save in that time will mean you can borrow less.
3. Have you considered a 0% money transfer cards instead of a loan to save interest. But obviously not until next year when they need the money back.
You have ignored all these points I have made on this thread and chosen to reply to other parts of my posts. Your the one who is then calling me ignorant :rotfl:
But those points aren't necessarily as pragmatic as you insist they are.
Some loan offers have noticeably better interest rates on slightly larger loans. At some places there may be rate band threshold(s) at £5k or £7k5 or £10k.
So it may well be worthwhile at one place to borrow £10k, and pay some of it back very quickly, and this might actually work out cheaper than starting with a loan for £7k5.
Money transfer cards may or may not be suitable for this, depending on the likely timespan, and whether there is a fee. It might be worth considering doing part as loan part on this.
As for the attitude, it is fair enough for people with relevant experience to caution against consolidating then just continuing to run up more general spending on the cleared cards.
However if someone replies that this has been considered, but they are fairly confident of not doing so, partly for overall financial position, and these are expense amounts that probably come around just once in a while rather than repetitive day to day stuff gradually getting on top all the time, then perhaps it is time for critics to say fair enough, I've said my piece once, maybe valid maybe not. It does not need saying another half a dozen times, with escalating tedium and unpleasantness.0 -
But those points aren't necessarily as pragmatic as you insist they are.
Some loan offers have noticeably better interest rates on slightly larger loans. At some places there may be rate band threshold(s) at £5k or £7k5 or £10k.
So it may well be worthwhile at one place to borrow £10k, and pay some of it back very quickly, and this might actually work out cheaper than starting with a loan for £7k5.
Money transfer cards may or may not be suitable for this, depending on the likely timespan, and whether there is a fee. It might be worth considering doing part as loan part on this.
I considered the change in loan rates at different thresholds and it seems that between 7.5k and 20k you get the cheapest rate (currently 3.1%) so that's why I said not to go below 7.5k.
Your right about money transfers cards but I still think it's worth considering because you usually can save some money compared to a loan.0 -
essex.cyclist wrote: »You're right, I am ignoring those parts of your posts.
Based on your ignorance, I have decided that I have no wish to receive financial advice from you.
Besides which, I have now made my decision and acted on it, thanks to the advice of decent members of this forum.
Ignoring potentially useful advice from someone just because you don't like them?. That has to be the very definition of ignorant doesn't it?.
Fair enough that you have made your choice but I personally always consider what someone has to say no matter how much I dislike them. Maybe you should drop your preconceptions and open your mind to new ideas and you never know you might learn something useful!.0 -
-
Ignoring potentially useful advice from someone just because you don't like them?. That has to be the very definition of ignorant doesn't it?.
Fair enough that you have made your choice but I personally always consider what someone has to say no matter how much I dislike them. Maybe you should drop your preconceptions and open your mind to new ideas and you never know you might learn something useful!.
No, it's not remotely the definition of ignorance.
I've acted upon my own thoughts and people's advice on here.
Your posts were unhelpful and rude, and by the looks of things you haven't learnt a thing.
Ignorance is bliss.0
This discussion has been closed.
Categories
- All Categories
- 343.2K Banking & Borrowing
- 250.1K Reduce Debt & Boost Income
- 449.7K Spending & Discounts
- 235.3K Work, Benefits & Business
- 608.1K Mortgages, Homes & Bills
- 173.1K Life & Family
- 247.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 15.9K Discuss & Feedback
- 15.1K Coronavirus Support Boards