Just £80 left...

Ilona

glasgowsaver2011 wrote: »

I would close the littlewoods account

The freedom of knowing you have no lines of available credit really is something

I agree, close it. They said they will keep your account open, not to help you, but to get you to spend more with them. Dump the account and start saving.
Ilona

Blue_Elephant

Wahey!! Feels awesome doesn't it?

CLOSE CLOSE CLOSE the littlewoods account - and them offering to increase the credit limit? That's them hoping to rope you into more debt I promise!!

If you really need an open avenue of credit for a credit rating, get the best credit card you can get. Even if the APR is rubbish it doesn't matter - you'll pay it off every month. Then tell the credit card company not to raise the credit limit without your explicit permission - that means they can't raise it then tell you about it later. Keep the limit at £100, spend £10 a month on it, then pay it off.

If you need Emergency Money for in case the washer breaks, save it in a separate savings account. "Oh at least I've got credit" is the way to getting into debt hell again. Promise

and in the meantime, enjoy those ++++ signs!!

MusicalLawyer

I can't get a credit card - I don't know why, I was just refused when I last applied a month ago.

I need my credit to get better as quick as possible. And with only electric, gas, mobile phone, internet and bank account, I don't think a Littlewoods account would hurt my credit file. I've been paying my Littlewoods £65 a month in an arrangement - no default on the account.

euronorris

When trying to build up a credit rating, there are certain credit cards you can get and use. The rates are nowhere near as good as the mainstream ones we all know, but........that shouldn't matter if you intend to pay them off in full.

With a CC, you could then use it to buy your groceries each month, and then use the money from your grocery budget to pay it off in full each month.

What can you realistically buy from Littlewoods each month, that you NEED? There won't be much. So you'd be limiting yourself there. Plus, the temptation to buy things you don't need, but want, would always be there.

With a CC, you could wrap in a fully sealed plastic bag, and then freeze it in a tub of water. Only defrosting it to the shop. It would help reduce the temptation to use it for other things then.

I'm sure there is a whole section on rebuilding your credit on this site. Let me see if I can find it.

euronorris

Here it is: http://www.moneysavingexpert.com/cards/bad-credit-credit-cards?utm_source=forum&utm_medium=clicks&utm_campaign=resourcebar

I didn't realise, but there is a link at the top of the page for this too! DOH!

DVardysShadow

MusicalLawyer wrote: »

And I need to budget properly regarding University - I spend way to much on food. Like £6 a day - which is about £18 a week.

Everyone is being too polite. £6/day is not £18/week. Budgeting works best when the arithmetic is correct ...

Memory_Girl

DVardysShadow wrote: »

Everyone is being too polite. £6/day is not £18/week. Budgeting works best when the arithmetic is correct ...

See what you mean - but I took that to mean that Uni spends were on three days only (Yes some of our students are only "in" 3 days per week)

MG

MusicalLawyer

I have lectures 3 days per week, therefore, £6 per day is £18 per week (for me). University isn't about being spoon fed information 5 days per week. I'm studying Law - it's more about reading in your own time than anything else haha.

Euronorris I would prefer a CC, however as I already said, I got refused. You can see in my signature I had a debt with Capital One and Vanquis who won't lend to me - these were paid off in Jan 2011 and Jan 2012 in full. I got refused for the Aqua Card. I wouldn't get the Granite one either as they're linked to Vanquis.

My only source of 'credit' currently is Littlewoods.
I do have Electric and Gas, Mobile phone contract and 2 bank accounts on my credit file - all of those are spotless.

I need to build my credit rating for June 2013, so I can take out a Career Development Loan (I don't want to, but I need to!) I will have around £7,500 saved up, but my fee's are £14,500. This loan is dependant on whether I can get a job in a Law Firm after my degree (just as a legal secretary / paralegal) whilst I study for my LPC.

Googlewhacker

DVardysShadow wrote: »

Everyone is being too polite. £6/day is not £18/week. Budgeting works best when the arithmetic is correct ...

I am surprised you presumed!

euronorris

OK, I understand.

Well, the other option is to delay the LPC for a year, to allow you to save enough money. Is that an option? I know it's not ideal, but neither is being in debt & having to pay extra whilst you're studying. It would also give you some extra time to find a job in a law firm.

Either way, good luck!