Please help me..credit card billing??

a7x4369

Hello!

Not really sure where to start here as i have no clue about credit cards, interest rates...pretty much anything to do with it...

Here goes..

My boyfriends pc packed up..again! At the start of july..he wanted to get it looked at and have it fixed..again!

So i suggested he got a new one to avoid it breaking again in a month or two!

We both decided a new one was the best option but we could not afford to buy a new one straight out..so i said what about getting one on finance and we both agreed that would be the best option for us as neither of us have a credit card and he needed the new pc fairly quickly so we didnt have enough time to save up for it..

So we went ahead and he started to apply for the finance on the chosen pc..they wanted to know alot about the household including his mum n dads earnings..so he was asking his dad these questions while on the phone to the finance company all was going well..then his dad started to question why they needed to know so much..which is understandable but he then went on to say cancel it all and i will pay for it and you can just pay me back..

No interest..we thought..great..so my bf went over to his dads house and it ended up being paid on his dads credit card...which if i had known i would have said no..hear too many bad things about credit cards and paying them back on time..

He came back it was all sorted and it would take a week or so to be delivered

We received the pc on the 20th july..

His mum had popped over a couple of times stressing about the credit card statement as she hadnt received it yet..

She brought it over last night...it already has £20.45 interest on it!!

Saying we need to pay some off by the 3rd september..

I was very annoyed to find out there was already £20 on top of the £1100 we needed to pay to start with! More so that his dad had made it out he was paying 'cash' for it and we would pay him back!

I have spoken to my sister today and shes said his dad needs to take out a new credit card with 0% interest and transfer the balance..

I know for a fact his dad will not do this..but we cannot afford all this interest on top of the actual cost..

Finance would have been the same amount to pay each month with the interest already added on..

So i need to know whether my bf can take out a 0% credit card and transfer the balance from his dads card to that..

And if not is there another way we can do it as i know his dad really will not take out another card!

Any advice help will be greatly appreciated!

Thank you!

SCO

a7x4369 wrote: »

Hello!

Not really sure where to start here as i have no clue about credit cards, interest rates...pretty much anything to do with it...

Here goes..

My boyfriends pc packed up..again! At the start of july..he wanted to get it looked at and have it fixed..again!

So i suggested he got a new one to avoid it breaking again in a month or two!

We both decided a new one was the best option but we could not afford to buy a new one straight out..so i said what about getting one on finance and we both agreed that would be the best option for us as neither of us have a credit card and he needed the new pc fairly quickly so we didnt have enough time to save up for it..

So we went ahead and he started to apply for the finance on the chosen pc..they wanted to know alot about the household including his mum n dads earnings..so he was asking his dad these questions while on the phone to the finance company all was going well..then his dad started to question why they needed to know so much..which is understandable but he then went on to say cancel it all and i will pay for it and you can just pay me back..

No interest..we thought..great..so my bf went over to his dads house and it ended up being paid on his dads credit card...which if i had known i would have said no..hear too many bad things about credit cards and paying them back on time..

He came back it was all sorted and it would take a week or so to be delivered

We received the pc on the 20th july..

His mum had popped over a couple of times stressing about the credit card statement as she hadnt received it yet..

She brought it over last night...it already has £20.45 interest on it!!

Saying we need to pay some off by the 3rd september..

I was very annoyed to find out there was already £20 on top of the £1100 we needed to pay to start with! More so that his dad had made it out he was paying 'cash' for it and we would pay him back!

I have spoken to my sister today and shes said his dad needs to take out a new credit card with 0% interest and transfer the balance..

I know for a fact his dad will not do this..but we cannot afford all this interest on top of the actual cost..

Finance would have been the same amount to pay each month with the interest already added on..

So i need to know whether my bf can take out a 0% credit card and transfer the balance from his dads card to that..

And if not is there another way we can do it as i know his dad really will not take out another card!

Any advice help will be greatly appreciated!

Thank you!

Just type in the card details in the balance transfer section and generally it goes through ok.

Dont phone the credit card company and ask, do it online.

bengal-stripe

a7x4369 wrote: »

So i need to know whether my bf can take out a 0% credit card and transfer the balance from his dads card to that..

He can apply, whether he will be given a 0% balance transfer card is another matter. These days, with credit much tighter, cards with promotional rates are quite difficult to come-by. They are reserved for the (presumed) best customers who will (hopefully) make a lot of money for the CC.

Your BF has no history of credit, appears to be rather young and is (presumably) not on an above average income.

zerog

If you bought the computer a few days before 20 July, and the statement due date is 3 September,

then the statement dates should be something like 10th July to 10th August.

If there is interest on that statement, that means the dad has not paid previous balances in full.

If you do a balance transfer you will be hit with another fee of 1% at least, maybe up to 3% if you don't know what you're doing.

So the first quesiton is, how much can you afford to pay per month?

Tixy

If boyfriend does apply for a new card he needs to make sure it is from a different card issuer to Dad's card. As you cannot balance transfer from one card to another within the same credit card stable.

Presumably you appreciate that even if he is able to get a card with a 0% balance transfer deal and a high enough credit limit that there will be a balance transfer fee to pay?

Relating to the credit card statement - are you sure the interest relates to boyfriend's purchase? was the opening balance on the statement nil?
Did boyfriend'd Dad discuss the interest rate on the credit card when it was agreed he would make the purchase using that card?

Cycrow

£1100 is a lot for a PC. Is that the total credit card statement, or is that the actual cost of it ?

a7x4369

Its an alienware so they are very expensive..the balance on the card was zero before the computer purchase..and this is the first statement for the card since it was bought that why his mum was panicking!

Im just so angry it was done on a card! I would have said no straight away!

I was expecting to pay £40 a month with the finance but with this im guessing will have to be more to not get charged so much interest?

Sorry if im coming across as stupid i just really have no idea with this kind of thing!

Would a loan make charges less or is that worse than the card?

John1993_2

a7x4369 wrote: »

he needed the new pc fairly quickly so we didnt have enough time to save up for it..
...I know for a fact his dad will not do this..but we cannot afford all this interest on top of the actual cost..

Its an alienware so they are very expensive

It's too late for this time around, but please read the above back to yoursellf and realise how it sounds. You've no savings, can't afford even the interest, yet have bought a "very expensive" gaming computer, which apparently you "needed".

I'm not judging you here, but is this really sensible?

Tixy

a7x4369 wrote: »

Would a loan make charges less or is that worse than the card?

That depends on the APR on the card, what APR he could get on a loan (if he could get a loan) and how much he can afford to repay each month.

You mention you thought it would be around £40? how long was he planning on paying this over?

redcard

£1,100 for a new PC and your old one probably just needed a Windows reinstall!

a7x4369

redcard wrote: »

£1,100 for a new PC and your old one probably just needed a Windows reinstall!

It was actually the motherboard and the graphics card this time..we have previously payed for parts to be fixed more than twice!