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New to personal loans, want some reassurance
Comments
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You did say that "I;ve [sic] never borrowed money before", though.jimmythegent wrote: »Just to clarify, I never said I've never had any credit cards.
Credit cards are borrowing money, regardless of how short-term it is for."Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."0 -
Fair point, I didn't really consider it the same, buying a £50 gift online as taking out a £10,000 loan
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What about borrowing the £500 to spend on a holiday?jimmythegent wrote: »Fair point, I didn't really consider it the same, buying a £50 gift online as taking out a £10,000 loan"Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."0 -
All lenders what to see is your pattern of using credit. You purchase something on credit and making payment on time = good. You purchase something on credit and don't pay it back of fall into arrears = bad. You never purchase anything on credit = unknown quantity.
You've used credit cards therefore there will be something on your credit file.0 -
What about borrowing the £500 to spend on a holiday?
I see what you mean but I don't consider that borrowing as I only use a CC abroad because it's safer and pay it back usually the day I get back from holiday. I get the point you are all trying to make, however my point was that my interpretation of a loan is an amount more than you have in your savings/account that you pay back over a period of 12 months or more.All lenders what to see is your pattern of using credit. You purchase something on credit and making payment on time = good. You purchase something on credit and don't pay it back of fall into arrears = bad. You never purchase anything on credit = unknown quantity.
You've used credit cards therefore there will be something on your credit file.
Thanks, I went on Noddle and with the info I gave them it gave me a credit rating of 4/5 which I assume is pretty good.0 -
jimmythegent wrote: »
Thanks, I went on Noddle and with the info I gave them it gave me a credit rating of 4/5 which I assume is pretty good.
It is but lenders don't go on the 4/5, lenders/banks have an in house system to score you on.0
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