Interest rates

eaglegirl

Thanks everyone, all very useful answers :T

shiv87

Hello everyone sorry to interupt this post butdI'd like some help and advice please and im new to this site I have posted but unsure if ive done it correctly,I dont have a great credit rating and am trying to build it up I was offered and signed up for a yes credit card ive been sent a credit limit/agreement and secci etc but no mention of a card or of anyway to log on to my so called account,im aware this credit card is only for use on yes cards site but any help please would be greatly appreciated xx :j

michelle2008

shiv87 wrote: »

Hello everyone sorry to interupt this post butdI'd like some help and advice please and im new to this site I have posted but unsure if ive done it correctly,I dont have a great credit rating and am trying to build it up I was offered and signed up for a yes credit card ive been sent a credit limit/agreement and secci etc but no mention of a card or of anyway to log on to my so called account,im aware this credit card is only for use on yes cards site but any help please would be greatly appreciated xx :j

You would best best to start a new thread:). People are opening this thread to talk about interest rates - you might not get much help.

Welcome and good luck.

shiv87

Thank you Michelle2008 I have done a post named YES CREDIT CARD its had 30odd views but nobody is replying lol Thank you for your help though xx

mrginge

cardboard_chewer wrote: »

The experts say rates will rise in the near future and rise slowly,

Experts were saying the exact same thing 18 months ago and nothing changed.
(At the same time I said there would be no change until after the 2015 election)
It now looks even less likely imo as europe struggles with deflationary pressures.

so what will probably happen is that interest rates will stay low for ages and then suddenly increase very fast.

You only see a sudden increase (or decrease) in rates in times of crisis or as a reaction to some other economic event. The knock on effects can be serious and there is no way we'll see fast increases in the medium term unless we see something like rampant inflation (not happening) that needs controlling.

I've always stuck with trackers since 2003 and won't change.

It's a gamble either way - fixed raters are betting interest rates will go up, tracker people are betting interest rates won't go up. They may not consider themselves as gamblers, but either way they are taking a risk.

A bit simplistic imo, but a fair assessment.

cardboard_chewer

mrginge wrote: »

Experts were saying the exact same thing 18 months ago and nothing changed.
(At the same time I said there would be no change until after the 2015 election)
It now looks even less likely imo as europe struggles with deflationary pressures.



You only see a sudden increase (or decrease) in rates in times of crisis or as a reaction to some other economic event. The knock on effects can be serious and there is no way we'll see fast increases in the medium term unless we see something like rampant inflation (not happening) that needs controlling.



A bit simplistic imo, but a fair assessment.

yeah good point about the general election, bank of england don't want to be seen as political so will be reluctant to raise rates before then otherwise cue predictable labour party comments like hard working families paying more for mortgages under tories blah blah blah

i like simplicity :-)