I'm turning 18 tommorrow - Tips before applying for credit?

TrueUnitedFan

First of all, i have seen the responses many people give people on here. I know i can afford to make repayments on what i take out so please don't lecture me on what i shouldn't and shouldn't do. I don't have any famailies or friends to borrow me the money either so please don't ask this.

So, i turn 18 tomorrow and i really need a laptop to help with my studies, I have a savings account where i pay 200 p/m for a year so i cannot afford to buy the laptop outright.

I have seen a decent laptop for around 350 from currys and im thinking of getting on credit for 6 months.

What do you think of my chances of getting it on credit? I earn 700 pm after tax and i have 250pm to play with.

Any tips before applying? Get on the electrol roll first? get my credit report?

thanks

BoGoF

You've been paying £200 p/m into a savings account for a year but can't afford to buy the £350 laptop outright?......explain.

Dicky2K

Tips.. Don't do it.

DCFC79

Well you need some credit history for starters, if you aren't on the electoral roll which according to you your not then how on earth do you expect the credit agencies to find you and give you credit. First part of the process is to get on the ER then apply for credit but where or how long you wait i dont know.

It might be a long/slow process, were you expecting it to be instantaneous to get credit ?

You save £200 a month so why not use some of that ?

TrueUnitedFan

BoGoF wrote: »

You've been paying £200 p/m into a savings account for a year but can't afford to buy the £250 laptop outright?......explain.

hi the laptop is around 350. I get 250 every month to play with. I'd rather pay 50 pounds per month that pay it all at once. 250 i get left over is usually to pay for food, petrol ect.

thanks

Millionaire

Give it a couple of years and you'll be on the DFW board.

BoGoF

Is the 6 months credit interest free?.....not that I think your chances of getting credit is great.

tomjonesrules

Get a second hand one from ebay. Even better, get a faulty second hand one and learn how to repair/ rebuild it - you get to learn a new skill and a bargain in the process!

Blackpool_Saver

yes, don't do it.

danothy

I think you'll have a better chance of getting credit if you apply for a few credit cards before you buy the laptop. Shows that you are serious about credit. Also, remember to get the extended warranty when you buy the laptop, those things are worth their weight in gold.

RichGold

TrueUnitedFan wrote: »

I know i can afford to make repayments

You beat me to it in your first post. These newbies are getting wise to us.

TrueUnitedFan wrote: »

hi the laptop is around 350. I get 250 every month to play with. I'd rather pay 50 pounds per month that pay it all at once. 250 i get left over is usually to pay for food, petrol ect.thanks

So you really haven't got £250pm to play with as that has to go on living expenses so it isn't "to play with", lets get that straight.

What do you have left after all your expenses each month? That's the question.