repaying every month

guestman

redcard wrote: »

You said above you haven't properly budgeted for Christmas, so think you're kidding yourself on with this explanation.

I have had 2 weeks of work without pay which for me is around £800 after tax , saying I have no money at all isn't correct, i just havnt given you a brake down of exactly what i have in my bank? lets say for the sake of it i have £600 left which has to last me till the 27th of this month. and yes i had to have 2 weeks of work as a ladder snapped on me while quite high up.


not sure how the above ^^^ has led from asking if i should repay my aqua everymonth

Atidi

guestman wrote: »

around 3 months now

:cool:

I thought you said about a year

guestman wrote: »

I got my self an aqua card with a high rate just to get my credit rating up again after it was trashed a few years ago, I pay for bits of food & petrol on it then repay in full. Now after a year or so when I want a better card would I be better NOT repaying in full and allowing them to make some money of me because I did read some were that if a bank doesn't make any money from you then they arnt as interested in giving you credit, so before applying for something better just allow them to make a little from me ?


I was also thinking of a cheap mobile phone contract to help aswell but would rather not as I don't use my mobile much so pay as you go suits me fine.


the direct debits I have are car insurance , virgin media , tv licence & council tax payments each month, not sure if these help in any way?

zagfles

guestman wrote: »

as you can see its not debt as I repay everymonth in full, I only buy things I need to buy inaway. its more about letting credit card companys " think " that they can make money from me so therefore accepting me for a better card and like I said above , I don't intend to spend on it for no reason, so im really not that desperate , its just something ive been running over in my mind

Do you really think credit card companies make no money off you if you always pay in full? 60% of people always pay in full, they're not charities!

They make money from merchant fees, for instance if you buy something for £100 the retailer would typically only get £98 or so, it'll vary with the type of retailer and their turnover, a small shop will pay a larger fee than Tesco.

guestman

Atidi wrote: »

:cool:

I thought you said about a year

in about a year I want to apply for a better card, not ive had this card for a year

guestman wrote: »

Now after a year or so when I want a better card

guestman wrote: »

around 3 months now

nikanika0

I've had Aqua Advance for a year now to build credit history and they lowered my interest to 39%:T
very recently I have been accepted for Luma with £1000 credit, my own HSBC credit card with £6500 limit :eek: and car loan.

I always repay full amount by DD. No need to speculate, in a year time try your own bank to get better cc.

guestman

nikanika0 wrote: »

I've had Aqua Advance for a year now to build credit history and they lowered my interest to 39%:T
very recently I have been accepted for Luma with £1000 credit, my own HSBC credit card with £6500 limit :eek: and car loan.

I always repay full amount by DD. No need to speculate, in a year time try your own bank to get better cc.

I did have a Barclaycard years ago which is who I bank with, but this was one of the factors of trashed credit. I spoke to them a few months back and they said they account was closed and im just clearing the debt now, 18 months ago it was just under £3000 and now its at around £1100 which ill be paying £120 each month to clear the rest quickly.


do you think they'll give me another Barclaycard after this? :rotfl:

spinningsheep

I started with an Aqua Classic in Feb 2013, on a £250 limit, i am now on a limit of £1900. Each month, I pay ALMOST the full balance by internet banking as a faster payment, and when I check the card balance later on, it usually takes a max of 2 hours for the payment to show, then, about 2 days later when my statement is generated I have a balance of about £10 on it. That way Aqua is making a small amount of money from in interest, and I now have a very usuable credit limit, yes it has cost me small amounts in interest but the result was worth it.

Experian_company_representative

Generally speaking, a new card should start to have an overall positive effect on your credit rating after about six months, as long as you make your monthly payment on time, pay more than the minimum and keep your monthly balance to below 25% of the limit. Your home phone/TV/broadband account is likely to be reported on your report as well.

James