A Payment A Day - Part 8!

never-in-doubt

psychopathbabble wrote: »

Thanks Niddy..... I knew it was rate jacking, I've had it done to me on every other card, just got a tad confused as to why they offered to keep it open on the same rate! But I'm not going to spend on it :D:D

They would have kept it the same because when the decision was made to increase your rate, your circumstances have changed. Lets assume at the last monthly feed in February you had a balance of say £500 and then paid lots off, then when you rung your "risk" would have been lowered so they decided to retain the original terms.

basically, some people can benefit by saying "fine, close it" - then lender can (and usually will) overturn the rate jacking - so long as you're not high risk...

Is your overall debt to income ratio high? You'd have to assume so for all your cards rate jacking you - but then again they will say they are in a recession lol.....

Its handy to keep, just dont spend on it....

psychopathbabble

Thinking about it, my debt is actually about half my income..... strange. Oh well..... who knows how credit companies work!x

Greenbynature

Hi all

Angelic I think you should go for it - as long as your not like her (she is funny tho) in the pic silaqui put on here :rotfl::rotfl:

Payday today :j

Pad today is £5 OH, £34 kays, £3 cap1 and £3 egg

£45

never-in-doubt

psychopathbabble wrote: »

Thinking about it, my debt is actually about half my income..... strange. Oh well..... who knows how credit companies work!x

50% is high debt to income, mine is approx 5%! Just to elaborate, the debt doesn't mean the amount you owe but the amount available.

Example - you earn £20k, you have a loan for £10k and 3 credit cards, all at £0 balance but with a £3k limit on each. You are extremely high risk due to affordability (pushing 100%).

That's not strange, that's probably why they want to secure loyalty by increasing your rate (lol - typical bank logic)... :rotfl:

I know how they work - but it's not them, it is the raw data they obtain from the CRA's each month that cause the damage (usually)

sashybo

Hi all, the total for 7th April was £1452.38. :j:T

Doing well the last few days. :j:beer:

sashybo

A pad of £9 for me today - £1 as usual to Barclaycard and £8 from Pinecone into my paypal account.

Finally bought the flooring that I saved up for and all the money is gone , as OH decided he needed a jigsaw and workbench to do the flooring properly. I was hoping to have some left over to put towards something else. Oh well.

Thanks for the commiserations Scooby, jobhunting is the worst.

Angelic I think you should go for it, nothing worse than being unhappy in your job - it's why I'm currently unemployed!

psychopathbabble

Just paid another £10 to the cc as I haven't spent my grocery budget this week so I've kept £5 and put the rest on the cc. Really tempted to raid one of my various pots to just get it paid but I shall be patient, as raiding the pots means I have to find more to put in them next month!:o

Edit - Just paid what is hopefully the last £13.81 to the cc, so I think I just paid my first cc off!! :j:T

3_kids_2_jobs_1_dog

Well done Psycho,

1 down 4 to go!! You must be feeling great.

321

Thrifty_Pixie

psychopathbabble wrote: »

so I think I just paid my first cc off!! :j:T

Way to go you! :beer:

And a very happy Thursday to all.

PAD today is £10.66 please (£10 straight into savings and 66p shrapnel into Vase of Doom).

Feeling a tad blue today as having some trouble with my soon-to-be-father-in-law and his drinking. We live with him so it directly impacts on us. We can afford to move out, but are loathe to, especially as we are planning on getting married this year too Oh well. Just keep on keeping on, I guess.

Hope everyone is having a better week than me!

*meep*

indierocker85

Paid £21.14 today