The fed just raised interest rates by .25%

lisyloo

Thrugelmir wrote: »

Can everyone obtain 0% credit cards?

I guess you spend on the card. So the retailer has marked the price of the goods up to cover the fee paid to the finance house. A business is run to make a profit not be charitable.

Of course not, but normal people with normal jobs who haven't screwed up should be able to.
Of course it not available to everyone i.e. The unemployed, someself employed or those who are deemed irresponsible.

I agree businesses aren't charities, but it's a rarity to find a discount for cash for most purchases, so they pass on those costs however you pay.
Note that companies like m&s don't do it as a service, they do it because it makes a profit.
Also note that cash costs money to deal with, you need tills, you need change, you need to pay security firms with men who have armour to come and picked it up in a secure van. That all costs money and a lot of firms prefer cards. As I said they often start they own as they make a profit overall.

So yes - normal people with normal jobs who don't have a bad record can borrow cheaply for many items without paying more for the goods in most cases.
Obviously there are exceptions.

chucknorris

lisyloo wrote: »

Of course not, but normal people with normal jobs who haven't screwed up should be able to.
Of course it not available to everyone i.e. The unemployed, someself employed or those who are deemed irresponsible.

I agree businesses aren't charities, but it's a rarity to find a discount for cash for most purchases, so they pass on those costs however you pay.
Note that companies like m&s don't do it as a service, they do it because it makes a profit.
Also note that cash costs money to deal with, you need tills, you need change, you need to pay security firms with men who have armour to come and picked it up in a secure van. That all costs money and a lot of firms prefer cards. As I said they often start they own as they make a profit overall.

So yes - normal people with normal jobs who don't have a bad record can borrow cheaply for many items without paying more for the goods in most cases.
Obviously there are exceptions.

I've never paid interest on a credit card, and I'm almost 59 in a few weeks, apart from the odd exception I think most of my friends are in the same boat. Not that it means a lot, but every little bit helps.

lisyloo

I'm sure you can do your own reasearch but here's some example low loan rates

http://www.thisismoney.co.uk/money/cardsloans/article-2262700/Our-loans-picks-This-Is-Moneys-five-best-personal-loans.html

Obviously subject to status

lisyloo

chucknorris wrote: »

I've never paid interest on a credit card, and I'm almost 59 in a few weeks, apart from the odd exception I think most of my friends are in the same boat. Not that it means a lot, but every little bit helps.

I have paid interest on foreign currency but still when it's still been a very good decision e.g. Halifax clarity 0.5% per week.
Just goes to show that everything has to be put into the correct context and can't always be generalised.

chucknorris

lisyloo wrote: »

I have paid interest on foreign currency but still when it's still been a very good decision e.g. Halifax clarity 0.5% per week.
Just goes to show that everything has to be put into the correct context and can't always be generalised.

Wow! 0.5% per week is a huge rate! That's almost 30% per annum!

padington

lisyloo wrote: »

I'm sure you can do your own reasearch but here's some example low loan rates

http://www.thisismoney.co.uk/money/cardsloans/article-2262700/Our-loans-picks-This-Is-Moneys-five-best-personal-loans.html

Obviously subject to status

The other amazing thing about debt at the moment is if you can't afford to pay it back after all main assets are sold, you don't have to. Never in the history of the human race has this been applicable. We used to have debtor prisons. Before then the posse would be called to give you and your family a beating or the King would do as he wishes.

Debt has never been such a 'no brainier' for those careful to follow the rules to their own advantage.

Obviously spending debt as income as opposed to buying capital is another story and not something to be applauded but otherwise, debts an amazing resource when used well and those that haven't been utilising this gift have sadly been quite misinformed.

chucknorris

padington wrote: »

The other amazing thing about debt at the moment is if you can't afford to pay it back, you don't have to. Never in the history of the human race has this been applicable. We used to have debtor prisons. Before then the posse would be called to give you and your family a beating or the King would do as he wishes.


Debt has never been such a 'no brainier' for those careful to follow the rules to their own advantage.

30% per annum is not a 'no brainer'!

lisyloo

chucknorris wrote: »

Wow! 0.5% per week is a huge rate! That's almost 30% per annum!

Sorry that's incorrect.
12.9% Apr which is about 0.5% for a 2 week holiday if you were somewhere without free and safe internet.
The idea is you pay off when you return, so the Apr isn't that relevant, the point is the 0.5% is a Lot less than what you'd have to pay elsewhere to convert currency. That is all you pay as it's 0% commission on the MasterCard rate.

If it was 30% Apr which is 1.15% for 2 weeks then it would STILL be cheaper to get your foreign currency this way.

So again - needs the correct context and is a very savvy way of doing things.

Crashy_Time

chucknorris wrote: »

30% per annum is not a 'no brainer'!

Strange that you get this, but can`t make the connection between how the UK public view debt, rising rates, and your own situation?


Get ready to pay off those mortgages. BTW did I miss the link to the one you sold?

Crashy_Time

Jack_Johnson_the_acorn wrote: »

Is this Crashy posting something non-hysteric.... weird to agree with Crashy, even if he is just stating the obvious. Maybe Crashy is beginning to see the light. :rotfl:

Am I a debt junkie Crashy...

H/H income of £50k-£55k.
Mortgage originally taken out of £114k
10% deposit used.

Credit card with £2000 0% interest.
£20k in savings.

Income £3200pcm
Every possible outgoing £2100(including, h/h costs, finance, transport, childcare, shopping & leisure)

No, doesn`t sound like you are, but how many people on 50k do you think settled for a 100k mortgage? If everyone was like you there would have been no housing bubble.