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

telboyo

Quote:
Originally Posted by danothy
also, remember to get the extended warranty when you buy the laptop, those things are worth their weight in gold.

what???????

Assuming the warranty is written on a piece of A4 80 GSM paper it will be worth almost as much as the computer.
1 sheet of A4 80 gsm paper weighs 5g
Gold at 10:17pm today costs £1028 per troy OZ
1 troy oz weighs 31.1 g
therefore 1 sheet of paper costs £165. (ish)
I will let you have the ink for free.

geoffky

You are starting out on the road to being a debt slave very young..i would wait if i was you...

thesim

I'm glad you are going to wait. I got my first CC at 18..24 now and just this year got out of £10,000 worth of debt. Its easy to say I wont do this and I wont do that, but push comes to shove and you get used to using money that isnt yours and you are living outside your means. And then its all hell to get back.

Enfieldian

With that dumb attitude OP, by all means apply for credit on your 18th birthday.

Because there won't be any chance of you getting any more until you are 24, at least, the way you are heading.

ViolaLass

Guys, he's already changed his mind so there's really no need to be rude.

pepperpot22_2

telboyo wrote: »

Seriously- don't get credit! When I was 18 (30 yrs ago) my Dad told me not to get credit, well, he obviously he knew nothing! Consequently a few yrs later I started married life with a ton of debt.
When my son turned 18 I tried to advise him not to get a credit card. "Fortunately" he maxed them all out by the time he was 21 and was up SH!7 street, cleared them all by 24.
He now pays for every thing by cash - his only credit is a contract mobile.
He is fortunate in that he learnt his lesson the hard way by the time he was 24.

WAIT A MONTH AND BUY A LAPTOP FOR CASH

So, so, so true. My dad also warned me not to take out credit but of course he was a boring old fart and I knew better. So I racked tons of debt which only now in my 30s I've only just managed to clear. And this started from taking out small amounts of credit in my student days. God knows how much money I've wasted paying interest to credit card and loans:(

So finally now I have very little savings but no debt (working on the savings though:j).

• I now pay for nearly all day to day items by CASH (mostly physical cash rather than a debit card because it's easier keep track of what's been spent and it helps you appreciate how much you are spending better than using a debit card.

• only use a credit card for major purchases when money is put aside to pay it off IN FULL.

skintandscared_2

Enfieldian wrote: »

With that dumb attitude OP, by all means apply for credit on your 18th birthday.

Because there won't be any chance of you getting any more until you are 24, at least, the way you are heading.

You could try actually reading the thread before being so presumptuous and nasty. Now who looks dumb

drjones

ViolaLass wrote: »

Guys, he's already changed his mind so there's really no need to be rude.

Agreed. And we've heard enough stories about people getting themselves in to debt too. It's boring now.

DCFC79

Hope you had a birthday to remember OP and you got what you wanted with it being your 18th.

TrueUnitedFan

eviekins wrote: »

Hope you had a lovely birthday
The phone contract sounds like a great idea. Saving you money each month, and building a credit rating!
It's also nice to hear that you have decided to save for the laptop and purchase is outright. I'm sure you will find this very rewarding!
Like drjones said, make sure if you are purchasing via the internet you compare prices online and use a website such as topcashback

Thanks Eviekins, i had a great day.

I appiled for the phone contract but i was sadly rejected, i tried for one online though phones4u for £25 a month on Orange. No reason given.

Yea, looking back, i think it was a stupid idea of paying it for 6 months when i can buy it outright within a month.

geoffky wrote: »

You are starting out on the road to being a debt slave very young..i would wait if i was you...

I disagree, i see where your coming from but I wouldn't put myself into a mess debt wise no way would I.

Enfieldian wrote: »

With that dumb attitude OP, by all means apply for credit on your 18th birthday.

Because there won't be any chance of you getting any more until you are 24, at least, the way you are heading.

please read the thread before typing. Cheerio.