What one thing would you tell the nation?

student100

blacksta wrote:

Change of tune

only apply for a mortgage

grumbler wrote:

1. Can YOU afford to buy a house without mortgage(=credit)?:rolleyes:
2. Your advice is for weak-willed people. Do you think that the whole NATION is weak-willed?

I believe Grumbler's 2. still stands.

excited_money_saver

Just got today an offer from M&S &More Card of 3.9% life of balance. Was thinking about doing it but this has confirmed the logic. Think they offered it because my 0% was running off so had just transferred balance to new NatWest Visa in husbands name for 0% for 9 months. M&S expires at end of December 2005 so Christmas shopping on main card then bang on &More card until aforesaid husband has finished his Health & Safety Diploma and moved to a fantastic paying job and youngest child goes to secondary school and I can work full time again.

Well that's the theory anyway - I'm sure I'll still be tarting to cover the shortfall I'm experiencing each month, getting less though through Money Diet.

Thanks Martin you're a star.

stuttard

When abroad only use a Nationwide credit card (and a Flex Account for drawing cash) to avoid the 2.75% currency conversion charge.

mazimali

M&S & MORE CARD IS OFFERING A LIFE TIME RATE OF 3.9% VIA A MAIL SHOT to existing card holders. :Valid until 31/12/05

hellomoto

Do not ever get a store card, ever.

:eek:

grumbler

hellomoto wrote:

Do not ever get a store card, ever.

Why? Many of them offer interest-free credit. Argos offer up to 24 months, for example.

elona

Because some of the department store cards are 29%.

The_Boss

elona wrote:

Because some of the department store cards are 29%.

29% interest doesn cost anyone anything if they only use the promotional balance transfer/interest free credit or if they pay off in full.

grumbler

elona wrote:

Because some of the department store cards are 29%.

Some credit cards are 40%+. Why don't you advise 'Do not ever get a credit card, ever' ... And even with 29% (40%+) you usually have interest-free period and don't pay any interest if you pay the balance in full and on time.

hellomoto

Why? Many of them offer interest-free credit. Argos offer up to 24 months, for example.

Because:

1) The interest rate is always massive, 20 - 30%.

2) They offer a first buy deal eg. 10% off your purchase to get you hooked (now sometimes that may be tempting but how much are you really saving? £1? £2?)

3) They batter you to death with special offers "buy this!", "wow! 10% off day!"

4) You are always asked by the checkout operator do you want one but they never take the time to explain the T&C's.

5) God forbid you ever carry a balance, it will take at least a year to pay it off at these rates.

Sorry, but I know the "advantage" of these cards, eg. if you were buying 30 suits for work it MIGHT just once be worth taking out a store card to get the discount, BUT I hate the things with a passion.