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Looking for advice before a CC application
Comments
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If it worries you, I don't think I have either!
Do NOT use the card you transfer your mint + natwest balance on to make NEW purchases. Do NOT use it in shops.
Purchases at the moment often have shorter intro offer periods and your CHEAPEST debt will be paid off first on the card but the card issuer (bank).
So if you have £1000 balance transfer on 0% and £1000 of new purchases at 15.9% (so total credit card balance £2000) the bank will use your monthly payment to pay off your debt at 0% FIRST so they get more money in interest off you. See?
This is VERY important!!!Kavanne
Nuns! Nuns! Reverse!
'I do my job, do you do yours?'0 -
Do NOT use the card you transfer your mint + natwest balance on to make NEW purchases. Do NOT use it in shops.
Im not planning to anway. The idea is that I can put my current debts in one place and pay them off only having to make one payment each month to one company and hold one set of paperwork. I've only used the cards I've got to pay for me holiday and I've not touched them since
I've done the credit search thingy on CreditExpert. All looks well, its showing one payment made a month late for a mobile phone bill about a year ago but thats it...does that need to be declared as a missed payment?0 -
OK well the oldies were a bit worried as you did say 'i'm not planning on using the card for purchases very often', you must not use it for purchases AT ALL. Glad you got it now though Kavanne
Nuns! Nuns! Reverse!
'I do my job, do you do yours?'0 -
OK well the oldies were a bit worried as you did say 'i'm not planning on using the card for purchases very often', you must not use it for purchases AT ALL. Glad you got it now though
Sorry! The 'very often' means in only in extreme or ludicous circumstances - e.g...urm...If ther's a fire and all my belongings get destoryed except for the credit card it may be used to buy some breakfast :rotfl: that sort of thing!!0 -
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Nope. Sorry, you must not use it AT ALL for purchases. You can have a separate card for that situationSorry! The 'very often' means in only in extreme or ludicous circumstances - e.g...urm...If ther's a fire and all my belongings get destoryed except for the credit card it may be used to buy some breakfast :rotfl: that sort of thing!!Kavanne
Nuns! Nuns! Reverse!
'I do my job, do you do yours?'0 -
YorkshireBoy wrote: »Buy Now Pay Later, sometimes known as deferred interest. Usually there's nothing to pay for an intro period and if you don't settle in full during this period they whack you with circa 29.9% interest from day one.
I'd say it will appear as a 'loan' on your credit report.
It appears as 'Credit sale fixed term' which i assume can count as the same?0
It was destroyed in the fire though, lol! This discussion has been closed.
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