Is, not being able to have credit

Broken_hearted

If I didn't own my own home I would be stressed about having a bad credit rating but as it is I don't want/need anymore credit.
What I mean is a mortgage would have been the only credit I would have wanted. Having bad credit might have made it impossible or forced me towards the sub prime lenders.

postingalwaysposting

used sensibly credit isnt a bad thing... the bad thing is debt which is 50% possible with credit i wouldnt class 0% deals and cash back credit cards as bad credit... as long as they are used sensibly and debt never ran up surely you are playing the companys at there own game

jayceevee

Treading_Water wrote: »

.....I have an aquantance who deals in finding car loans for sub-prime customers - unfortunately they then end up with loan rates in excess of 30 or 40%. Actually I don't understand why they don't just tell them that they can't afford that particular car and they should either
a. stick with the car they have or
b. look for a cheaper car.
:(

Probably because they want the comission?

dubgirl

My credit rating is pants and I've not had a credit card for about 3 years and to be honest, I dont miss them. In some ways getting into debt has done me a favour and made me realise what is important in life.

seven-day-weekend

We have no mortgage, loans or at the moment any credit card debt balance (we only use it for flights or similar and pay it off straight away).

It is a wonderful feeling to owe nobody anything and I for one do not ever want anything on credit again.

We are in the Uk at the moment and had some large unexpected expenses but we used some 'rainy day' money tHAT i HAD SAVED AND EVEN NOW IT IS NEARLY ALL GONE, i'M NOT BOTHERED; IT WAS FOR UNFORSEEN CIRCUMSTANCES AND WE STILL OWE nobody anything. It's a good feeling. (sorry for capitals).

chevalier

I think a credit card can come in handy in some instances, eg buying online, doing my online shop at Tesco. But on the other hand I am not very materialistic either, so I don't have a massive spend to cover anyway. It is going to be weird when we move abroad because as far as I know, your credit history starts back at zero. So even if you have had a spotless credit record here, it doesn't matter over there. Will be interesting to see how we get on getting a mortgage etc over in New Zealand

On one of the sites I frequent there is a banner advert for Vanquis. Their APR which is in big letters is 177%!! How scary is that. And I guess they make money from desparate people too even at that rate!
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