Possible to transfer between two CC's before purchase hits statement.

Sncjw

And from. The sounds of it you will be continuing to do it for years with your current debt level and constant application for finance. 

[Deleted User]

Don't know how often one is expected to re iterate that my 20 hours working week has never been withheld from any credit provider, including salary. 

Have you actually rung up the existing card issuers and told them about your change in circumstances?

Dandytf

mser's

I don't disagree with any person posting.
Whilst I don't automatically agree with every reply, I make very good use of mser's info across multiple boards.
I don't judge anyone.
Important to mention existing credit use is 6% falling to maybe 2-3% before returning to 6% recent imac.
I'll make decision's on reducing or clearing imac when I choose.
I tend to ignore mis-information reply's.
I don't expect to know mser's personal business and don't post every detail of mine.

impoverishedtraveller

You keep banging on about your credit use percentage like it’s important…anyone that holds the amount of plastic you seem to would have a low one.

the only metric that you should really care about is your TOTAL DEBT to TOTAL INCOME ratio. You might just get the rude awakening you need if you added up ALL of your current credit debt, and compare it to your current take home salary across the year.

born_again

Dandytf said:

mser's

I don't disagree with any person posting.
Whilst I don't automatically agree with every reply, I make very good use of mser's info across multiple boards.
I don't judge anyone.
Important to mention existing credit use is 6% falling to maybe 2-3% before returning to 6% recent imac.
I'll make decision's on reducing or clearing imac when I choose.
I tend to ignore mis-information reply's.
I don't expect to know mser's personal business and don't post every detail of mine.

No offence. But do we need to know every time you take out a new CC or you do something on your cards?

Debt to income ratio is the only figure you should be looking at. Once you hit the point where your income is less than your monthly payments. You know you are in trouble. Which you should be aware of given you history. 
🤷‍♂️

[Deleted User]

Once again, everyone has told you that the credit use % is meaningless as a figure to judge your finances. You spend £1000 say on an imac, if you have 25k of credit on cards, sure you may be only 4% utilisation but that doesn't mean you can rest on your laurels about your financial situation. Have you factored in the cost of the car finance, window finance plus all your existing BT debts, any mortgage outstanding etc? 

Add all your debt up, then compare that TOTAL sum as a ratio against your salary - that at least is a meaningful comparison 

Ebe_Scrooge

Much as I share everyone's frustrations with this poster, one of his/her main priorities does appear to be lowering their utilisation percentage.  I wonder how much of this can be attributed to the CRA's fixation with said figure, and how they're constantly urging people to get their utilisation ratio down?

Yes, we all know that this figure is meaningless, and yes we all know that it's the debt/income ratio that's important.  For what it's worth, I don't actually think Dandy is a troll.  Ill-informed in the correct use of credit, misguided, a certain amount of head-in-the-sand attitude, certainly - I just wish they'd listen to the reams of helpful and well-intentioned advice they've been given on here, and learn from it.

[Deleted User]

Ebe_Scrooge said:

Much as I share everyone's frustrations with this poster, one of his/her main priorities does appear to be lowering their utilisation percentage.  I wonder how much of this can be attributed to the CRA's fixation with said figure, and how they're constantly urging people to get their utilisation ratio down?

Yes, we all know that this figure is meaningless, and yes we all know that it's the debt/income ratio that's important.  For what it's worth, I don't actually think Dandy is a troll.  Ill-informed in the correct use of credit, misguided, a certain amount of head-in-the-sand attitude, certainly - I just wish they'd listen to the reams of helpful and well-intentioned advice they've been given on here, and learn from it.

The problem is that even if that was the goal, he's talking purely in terms of credit card utilisation - I believe he's got around 22k of card credit available, though some has balance transfers on it e.g. the unnecessary recent iMac purchase but I recall he has his windows on 9.9% APR finance for 4 years, recently took out finance on a used Zoe EV (details unknown), 2k on Admiral loan debt (which has been talked about increasing it - and Admiral are not cheap!) and all the rest. The utilisation is not 6% or whatever he's using (and the CRAs surely won't given that figure if they can see his loans etc) because all his other debt is way more - that or he's really making it all up and can't keep track of his numbers in each post

Sncjw

Now he wants to adf kitchen worktops into the mix. He seems like the type of person who wants it now and doesn't want to wait to save for it. 

Dandytf

Sncjw said:

Now he wants to adf kitchen worktops into the mix. He seems like the type of person who wants it now and doesn't want to wait to save for it. 

With projected 36 or more months.
Congrats for seeing my plan!

edited with cost of living crisis and windows from late April.
Let's say revised projection 42-48 months

thanks