Thanks MSE and Rate Setters

Blue_Bomber

First post but a worthwhile one of thanks. This site was recommended to me and as a non finance expert its been as valuable to me a torch in a blackout. Great to hear Martin on BBC 5 Live this week and I'm even more confident using the site and advice when BBC 5 Live have the confidence in Martin.

Anyhow I don't ever have loans, I have a public sector job, I work hard, spend my money and dont do store cards or credit cards and I thought I was a good credit bet. Well no I'm not. My bank Barclay's would offer me a loan but based on limited credit knowledge of me (I thought less was better as it showed I wasn't somebody who fouled up my finances) but they offered me 26.7% APR on a loan. My first loan in this country. Previously in Ireland I was blessed by my Credit Union and I always got a great and trusted deal and relationship with early pay off etc possible. For a non finance bod this was safe zone.

Without the credit union here I turned here for advice and did the comparative. I knew of the Sainsbury's Loans from here and a friend. 7.8% APR. There is a god. I didn't get it. The reality struck home. I was unknown quantity. Still I had my bank and I'd never had any problems there of note apart from dipping into reserve a couple of times. Ooh 26.7% APR through application to them and I took MSE's advice and called. No go. If I found a cheaper one they would match and give me 50 pound return. I don't like that. We'll only reward and help you if somebody out do's us.

I applied to Ratesetter and knew nothing of them other than they were a comparative option here. Absolute pleasure. No nonsence talk. Checked out my work and spoke to me as a person, not as an idiot and made me feel like a human being just looking for what I deserve and earn. A low interest loan. Not sure of others experiences but a slow dull start to the new year has been brightened and after 3 years with my car I can now upgrade and get myself a car I've eyed up for about a year and I may well be able to afford it all.

So this was just a thanks and nice to have a little faith restored in the financial system and thanks to MSE and Rate Setter for help.

Thanks

Brendan

tomjonesrules

So you've registered to advertise Ratesetter, yes?

BoGoF

Not convinced if this post is genuine or a blatant attempt at advertising.

Blue_Bomber

Oh god no I haven't registered to advertise at all. Its a genuine post. I was a bit lost with not having a credit rating and naturally my bank was my best option as they knew me and they scared me at 26.7% APR. I thought if my bank won't offer me an affordable loan I'm in a difficult position. As it happens Tescobank have just rang and accepted me at 8.7% APR and I'm not here to advertise them either. Just over the moon and wanted to thank this site above all else for giving me the options on who to approach. I'm about to get a car I really want and have worked hard for but safe in the knowledge I'm not getting ripped off.

Sorry if it appeared I'm advertising. I've had some faith restored in the financial institutions out there and wouldn't have done it but for this site.