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    • geg1992
    • By geg1992 10th Sep 17, 10:06 PM
    • 14Posts
    • 2Thanks
    geg1992
    Credit card help
    • #1
    • 10th Sep 17, 10:06 PM
    Credit card help 10th Sep 17 at 10:06 PM
    Hi guys,

    Hope you will be able to assist me please

    Basically I have a credit card with Vanquis which I've been putting £750 each month on then paying it back on pay day to help build my credit rating.

    The limit is £1750.

    The APR is something crazy like 45% but because I've never incurred interest I don't really mind.

    However, now I'm in a bit of trouble as my car has proved to be extremely expensive as it keeps going wrong and I have a holiday next week.

    Q1) If I were to only pay part of it off, and pay the rest off the following month, incurring interest, would this have a negative affect on my rating?

    Q2) Will getting Euros with my card from a site online using my card incur crazy fees, and willl this affect my credit rating?

    I'm not too bothered about interest / fees as long as it isn't extortionate, but I'm more worried about my credit rating as I'm looking to buy a house soon.

    Any help is much appreciated.
Page 1
    • YorkshireBoy
    • By YorkshireBoy 10th Sep 17, 10:15 PM
    • 29,397 Posts
    • 17,173 Thanks
    YorkshireBoy
    • #2
    • 10th Sep 17, 10:15 PM
    • #2
    • 10th Sep 17, 10:15 PM
    Q1. Not necessarily.


    Q2. Possibly.


    If you have another option (if you didn't, you'd go ahead anyway, regardless), use it!
    • MEM62
    • By MEM62 11th Sep 17, 9:19 AM
    • 1,329 Posts
    • 949 Thanks
    MEM62
    • #3
    • 11th Sep 17, 9:19 AM
    • #3
    • 11th Sep 17, 9:19 AM
    The APR is something crazy like 45% but because I've never incurred interest I don't really mind.
    Originally posted by geg1992
    [QUOTE=geg1992;73107440]I'm not too bothered about interest / fees as long as it isn't extortionate[QUOTE]

    You have stated that the interest rate is a 'crazy' 45% but then go on to say that you are not too bothered about interest as long as it is not extortionate.

    I'm more worried about my credit rating as I'm looking to buy a house soon.
    Originally posted by geg1992
    If you finances cannot stand the cost of car repairs without having to put the cost on your credit card are you realistically in a position to consider a house purchase?
    • Robin9
    • By Robin9 11th Sep 17, 9:28 AM
    • 1,648 Posts
    • 1,073 Thanks
    Robin9
    • #4
    • 11th Sep 17, 9:28 AM
    • #4
    • 11th Sep 17, 9:28 AM
    If you are looking to buy a house soon you should have been saving like crazy for the deposit and also have a Emergency Fund of £1000 to provide for these car repairs.
    Never pay on an estimated bill
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