Jacamo gave me credit i didnt want Help please

tinkerbell28

Op it's all a bit hysterical really.

If you want a mortgage in the future then you need a credit history.

A credit card is a great thing to have, that could be the next application

As things like hotels and hire cars only accept credit cards and you get better protection.

See it as a stepping stone to showing financial responsibility.

wiseshark

ben4933, I respect your parents view of credit cards, but I disagree. If they are used responsibly, they can help you in the long term and even give you security. Don't ever fall into the trap of spend, spend, spend. It is not your money, but the credit cards money and is money you OWE.

Welcome to MSE.

worried48

Don't panic, it's not such a bad thing. Some day probably you'll want a mortgage and for that you will need a credit history. These people are part of JD Williams which si a major catalogue brand and yes, they routinely credit check and offer a credit limit. I already had a limit of well over 2k with Oxendales (one of their catalogues) and when I wanted a more specialist catalogue from the same group they credit checked me again and gave me a small credit limit for the new catalogue. This seems to be how they work.

Now, the problem is, their APR is very high. So, before you buy anything, ask yourself two questions. 1. If you were shopping online and had to put in your debit card details, rather than have the bill added to your account, would you still buy that item? 2. Will you definitely be able to pay off the bill when it arrives? If the answer to either question is no, then don't buy that item.

dotdash79

Credit cards can be extremely useful :- Some people get cash back on them, others have business expenses on them so that they aren't out of pocket.

Some people use them as an interest free loan and take the money to earn interest on it somewhere else.

They also offer excellent protection on larger purchases in case something happens to the company.

So long that you manage correctly and avoid paying interest then they are very good.

poppasmurf_bewdley

I have an account with Jacamo, which includes a credit limit, but when I order anything from them I just enter my debit card details at the same time and the goods are paid that way. I never touch my 'credit'.

It would be a pity if you miss some of their deals which are frequently very good value for money, just because you are frightened of something you have no need to fear.

heartbreak_star

Hire cars and hotels take debit cards, tinks28

HBS x

StuC75

Its also quite common for mail order since they are sending goods that you then have chance to check and return if not suitable, and only play for what you keep without the hassle of returning and waiting for a refund to your account (e.g. order 2 sizes to check which fits best but return one\both.). Imagine having that double outlay upfront..

Also means you are less fussed about delay in posting out, since you haven't actually paid until received and happy with the items..

StuC75

Which is fine if you want there being a pending 'charge' placed against your actual money, rather than the banks credit facility.. Hope don't damage the car when they have your debit card details...

heartbreak_star wrote: »

Hire cars and hotels take debit cards, tinks28

HBS x

27col

I really don't see why you are getting into a tizz about being offered a credit limit on an account. You do not have to use it, do you. You can just pay by debit card if you do decide to buy something from them.
There is nothing intrinsically wrong with having a credit card. The problem arises when you do not pay it all back monthly. For instance, I have a credit card with a limit of £5000, but I have never, in the entire time that I have used it, failed to pay the whole amount off each month. It is very convenient to use, but I never buy anything on the card that I could not afford to pay cash for. What it means is that you can buy stuff, without having the cash available in your current account, as you would have to do if you were using a debit card. Then, when the bill comes in, you can transfer money from another interest bearing account, to your current account. Unfortunately, nowadays, the interest rates are so bad there is not really an interest bearing account worth the name. But the convenience of the credit card, when used sensibly cannot be anything other than a good thing.
Many people, particularly those with weak will power will get into trouble with their credit cards because, basically they are buying stuff that they cannot afford. They just pay the minimum each month and go on racking up more debt and make no real effort to break the spiral.
Paying a credit card off each month will do wonders for your credit rating as you will be viewed as being someone who is in full control of their finances.

Foxy-Stoat_3

ben4933 wrote: »

owing someone something makes me vary uneasy i dont know why. perhaps its the deap down feeling of the possability of not being able to make a payment and being attacked with late charges and additional fees.

so aslong as i dont use of any of that credit, i wont be charged?

What, if you do buy a jumper for £40 I am sure you could afford to make the minimum normally 5% or £5 a month whatever is greater payments?

It will hurt you more in 10 years time if you never take out credit when you come to get a mortgage than having never had credit.....IF you do start using this credit account or any credit card have a limit that is reasonable and decline all offers to increase it, as after a few months they will increase it automatically.

Only borrow what you can afford to pay back in a reasonable time and you will be fine. If you spend £200 a month on fuel then it will be good to buy this (and only this) on a credit card, most give you 30 days interest free, and settle it in full when you get your monthly statement in. That way you won't be charged any interest at all and in a few years your credit history will look excellent.

Credit cards are only dangerous to materialistic people, the must have 60inch LED 3K TV etc etc.

Good luck !