We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

We're aware that some users are currently experiencing errors on the Forum. Our tech team is working to resolve the issue. Thanks for your patience.

Capital One Secured Credit Card: Is it Worth it

steph2k10 · 2012-09-25 13:45:12

Hi Guys i need some advice, Okay, i dont have the best of credit right now, but i am paying back my Debts one by one ( some back ground information when i turned 18 i sort of went crazy with Mobile contracts and Payday Loans.. I no i was ignorant and now im living with the consequences ) Anyway that was 3 years ago, im…

Comments

RichL74 Posts: 938 Forumite

22 October 2012 at 1:09PM

MrSilk wrote: »

That would earn you a default.

You see that is the annoying thing too because they technically have your £200 so if you were stupid enough not to pay one month, they take the £200 in lieu of your missing payment and close your account and dont issue you with a default.

How can they issue a default when they already have your deposit to pay it?

But of course I appreciate it doesn't work like that.

0