Will PDL affect credit negatively?

michu

smithers1981 wrote: »

if you earn in top 1% percentile surely you can afford to buy car and house outright why are you wasting time taking out 15 PDL's think i can smell bulls,,t!

I took them because I could afford them, and because of the funny way the banks in UK work that was the only way I could leave any positive (at least that's what I thought) mark on my credit file. Believe me, when you come with your payslips into a bank and they just say sod off, you're here for too short for even a low-limit CC, you start looking for other options to prove yourself. Also, in the last year I went from a software consultant to a CTO in mid-size company, my income went up a lot.

Still, as for income, when you have two horses and enter them in the competitions, plus send your ex a grand towards child maintenance every month, you suddenly are no longer so wealthy as it might look like. And if you say get rid of the horses, well, having a passion in my life is more important to me than having a big surplus in my account.

BTW, check your facts, top 1% percentile is about 80K net pa. for a married couple with no children. Not sure how you'd like to buy a house outright with that, especially in the area of Kent where I want to live.

rdwarr

michu wrote: »

Oh, crap. I believed I've been building my credit with them.

The current obsession with credit ratings (which essentially means how much debt you're able to get yourself into) is best whisked back to the 1980s.