Are you hot (financially)?

Anthorn

takman wrote: »

Paying off your card in full every month is attractive to lenders and it does make you more likely to get future credit. I always pay my card in full every single month and my Halifax Clarity card has one of the highest credit limits I have seen at the lowest interest rate they offer.

I fail to see how and why being done out of their profit is attractive to lenders. It simply does not make sense! About the same as me renting out my caravans in Cap d'Agde for free and loving it: "Aarrgghh! You want to pay me rent? Get outta here, no way!" Ridiculous isn't it?

I think that if MSE said that we could improve our credit history by sticking our heads in buckets of water there would be a lot of people with wet heads!

takman

Anthorn wrote: »

I fail to see how and why being done out of their profit is attractive to lenders. It simply does not make sense! About the same as me renting out my caravans in Cap d'Agde for free and loving it: "Aarrgghh! You want to pay me rent? Get outta here, no way!" Ridiculous isn't it?

I think that if MSE said that we could improve our credit history by sticking our heads in buckets of water there would be a lot of people with wet heads!

So if paying on time every month isn't attractive to lenders then why am i offered such low interest rates and such high credit limits?. If they lost out when people paid in full every month then they would decline applications from these people.

Anthorn

takman wrote: »

So if paying on time every month isn't attractive to lenders then why am i offered such low interest rates and such high credit limits?. If they lost out when people paid in full every month then they would decline applications from these people.

Now you've twisted "Paying off the full balance" and turned it into "paying on time". Are you mistaken, attempting to hijack the thread or starting a new branch of this same discussion?

Yes they would decline applications from such people wouldn't they. All depends if they see it on credit histories.

takman

Anthorn wrote: »

Now you've twisted "Paying off the full balance" and turned it into "paying on time". Are you mistaken, attempting to hijack the thread or starting a new branch of this same discussion?

Yes they would decline applications from such people wouldn't they. All depends if they see it on credit histories.

Yes I did mean to put "paying in full" and not "paying on time" in that sentence. The fact is that I always pay in full each month and and have never been declined for any credit card. I have also been accepted for new cards from providers that I have previously had a card with so they know that I pay in full each month. I also have been given limit increases in cards in the past after paying in full each month.

You seem to be suggesting that paying a little interest each month on your cards is a good thing. Well let me ask you this; I have always paid in full each month and have always been accepted for every card I have applied for and have always gotten the longest 0% offer. So if I had instead chosen to pay a little interest each month what benefit would that have given me? It would just be throwing money down the drain!.