Age 67 and taking OAP & Occ Pension but any new options for me?

jamesd

luminated wrote: »

In fact your last suggestion is probably the best as we have already bought a number of items on CC over the past year. It is a way of buying I've never used as I've always paid off in full every month but know I could set an amount and stick to it so could eventually get some of the things I think we need.

What you could do is apply for one of the credit cards with a long 0% for spending deal. This is just about the cheapest credit available on the market, with no initial cost and no interest cost provided you repay by the end of the deal.

There is a risk of over-spending so to work out what you can afford to spend, first work out how much you can afford in repayments each month then multiply that by the deal term. This way you should be sure that you'll clear or at least mostly clear the card before you pay any interest.

Don't actually put all of that monthly budget into the card repayments, though, just pay the minimum payments by direct debit. Put the rest into a savings account so that you make a little interest on the money, then repay the remaining card balance a few weeks before the end of the deal from those savings.

It's likely that if you have little credit history you would start out with a low credit limit of perhaps a few hundred or small number of thousands of Pounds and perhaps a shorter 0% term. Don't worry about this, just accept their kindness in offering you that amount of free money for as long as they offer it. It's a gift horse, don't kick it because it might not be a generous as you could have hoped for.

luminated

jamesd wrote: »

What you could do is apply for one of the credit cards with a long 0% for spending deal. This is just about the cheapest credit available on the market, with no initial cost and no interest cost provided you repay by the end of the deal.

There is a risk of over-spending so to work out what you can afford to spend, first work out how much you can afford in repayments each month then multiply that by the deal term. This way you should be sure that you'll clear or at least mostly clear the card before you pay any interest.

Don't actually put all of that monthly budget into the card repayments, though, just pay the minimum payments by direct debit. Put the rest into a savings account so that you make a little interest on the money, then repay the remaining card balance a few weeks before the end of the deal from those savings.

It's likely that if you have little credit history you would start out with a low credit limit of perhaps a few hundred or small number of thousands of Pounds and perhaps a shorter 0% term. Don't worry about this, just accept their kindness in offering you that amount of free money for as long as they offer it. It's a gift horse, don't kick it because it might not be a generous as you could have hoped for.

Thank you for taking the time to reply for which I'm so grateful. My credit history is boringly good with no unauthorised overdrawn accounts as far as I can remember. I've been with the same bank the whole of my life and the same two credit cards as far as I remember.


Thank you also for sticking with the point of my OP and as I said folks would ask I would be happy to give extra information if it was relevant to the question being asked.

luminated

atush wrote: »

If you come here for information, but dont give us enough information to help, and then are nasty to those who respond, then you get the respect you deserve.

I can only think you are nicer and less insulting to those on other forums. You certainly would not find people nice there, if you had this attitude.

dunstonh wrote: »

Just because it is not the answer you wanted, does not mean you should criticise those that give the answers.

kidmugsy wrote: »

What an ill-mannered oik.

Wow what a bunch of smug, arrogant, self righteous people on here and I'm not even convinced if fuller facts were given you would furnish the right information. It seems to me some of you may be out of work layabouts passing time by trolling around these forums. Looking at your post counts how else do you find the time to frequent the forum - please tell - or is the asking of questions (interrogation) the preserve of you 'mob' and not the humble posters seeking help.


So why don't you dish up some answers for me and those that read these boards what experience do you have to enable you to give your words of wisdom.

jem16

luminated wrote: »

It seems to me some of you may be out of work layabouts passing time by trolling around these forums. Looking at your post counts how else do you find the time to frequent the forum - please tell - or is the asking of questions (interrogation) the preserve of you 'mob' and not the humble posters seeking help.

Unfortunately, like most of your replies on this thread, way off the mark.

So why don't you dish up some answers for me and those that read these boards what experience do you have to enable you to give your words of wisdom.

Those that actually read these boards know exactly what experience and wisdom all of the posters on this thread have. Having attacked those posters more than once now, I think you'll be waiting a long time for anyone to "dish up some answers" for you.