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Clearing credit card debt?
always_cheerful
Posts: 2 Newbie
in Credit cards
HI all
Would just like a little advice on Credit Cards. We have 6,000 altogether, and we are making min repayments, but its frustrating because of the bloomin interest
we have found away to completely clear the debt, as this will make it easier for saving up.
I have heard on the grapevine, that if we clear all the debt it will bring up questions as to why we cleared it so promptly etc, and make it harder to get future loans and and a mortgage. The way I see it is, that we have cleared this to make way for other things...
Any advice would be helpful.....thanks
:rotfl:
Would just like a little advice on Credit Cards. We have 6,000 altogether, and we are making min repayments, but its frustrating because of the bloomin interest
we have found away to completely clear the debt, as this will make it easier for saving up.I have heard on the grapevine, that if we clear all the debt it will bring up questions as to why we cleared it so promptly etc, and make it harder to get future loans and and a mortgage. The way I see it is, that we have cleared this to make way for other things...
Any advice would be helpful.....thanks
:rotfl:
0
Comments
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Not sure where you've heard that but it isn't true.0
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... rubbish. Pay it off.Starting Debt: ~£20,000 01/01/2009. DFD: 20/11/2009 :j
Do something amazing. GIVE BLOOD.0 -
I knew it! I can remember someone saying you have to use credit to be able to get credit, but we need to stay above the water...etc etc like we all do! Also, a freind had probs getting a mortgage cause he didnt have any credit for a couple of years.
Am in financial confusion! :S0 -
its best to use credit wisely as this will improve/maintain your credit rating
i.e. use a credit card regularly for normal things..petrol maybe... and then pay in full each month0 -
always_cheerful wrote: »I knew it! I can remember someone saying you have to use credit to be able to get credit, but we need to stay above the water...etc etc like we all do! Also, a freind had probs getting a mortgage cause he didnt have any credit for a couple of years.
Am in financial confusion! :S
There's a difference between responsibly using credit and paying interest though
Like Clapton says, if you have a credit card, use it and clear it in full each month and you won't pay a penny in interest, while effectively getting up to 50 days free credit, section 75 protection and help build a healthy credit picture."A child of five could understand this. Fetch me a child of five." - Groucho Marx0 -
"Would just like a little advice on Credit Cards. We have 6,000 altogether"
Hi, I haven't quoted anyone in a reply before so please forgive me if I get this wrong. I read the start of your message, as just had to laugh out loud, thinking you had 6000 credit cards!!! Our 3 credit cards feel like they might as well be about 6000! Thanks for the laugh! Can't get this thing of quoting people.0
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