Returning to Aqua

Dandytf

cymruchris said:

born_again said:

Still at some point soon there will be no credit providers that have not been hit by the OP.

I wouldn’t be surprised if we are there already… 

I’m always happy to see people make progress in their journey from one of life’s low points back to a degree of normality. I also encourage people to improve their standing small step by small step (similarly to my own progress). 

The scatter gun approach of applying for everything isn’t the way forwards though. And applying for a card without knowing why you wanted it, and for a deal far worse than you’ve got already does seem to be, well in a word…. Bonkers. 

 and the question now is - what card will be next? 

thanks -As most mser's recognise my credit journey is coming to end of Applications.
Maybe best I rest from CRA reports and possibly forums for a while.
Seems my parking ticket on another thread has reached solicitors stage aggghh!

thanks mser's

MalMonroe

I love this thread, it really is a crazy one! Especially the last post from OP. Is this the way to treat one's finances? OP seems to be surviving well.

However, OP you said

"1.3k VM is greatest challenge for year ahead, I'll start soon with 250 payment.
Though can't keep making such increments.
I'll be tempted to use Savings at some point.
Zero apr until early 2023.
I still intend to regain absolute Zero CC ...eventually."

I say, why not use savings NOW? If you have them, clear as many debts as possible and start saving again instead of making payments plus interest to CC companies. 

I say this as someone who has survived great financial difficulty followed by a DRO and who is now debt-free (apart from car payments which will end in August this year). It's taken me a few years but the penny has finally dropped with me where debt is concerned. It could happen to you, too. 

I wish you all the best, thank you for the entertainment with this thread. xx

Dandytf

MalMonroe said:

I love this thread, it really is a crazy one! Especially the last post from OP. Is this the way to treat one's finances? OP seems to be surviving well.

However, OP you said

"1.3k VM is greatest challenge for year ahead, I'll start soon with 250 payment.
Though can't keep making such increments.
I'll be tempted to use Savings at some point.
Zero apr until early 2023.
I still intend to regain absolute Zero CC ...eventually."

I say, why not use savings NOW? If you have them, clear as many debts as possible and start saving again instead of making payments plus interest to CC companies. 

I say this as someone who has survived great financial difficulty followed by a DRO and who is now debt-free (apart from car payments which will end in August this year). It's taken me a few years but the penny has finally dropped with me where debt is concerned. It could happen to you, too. 

I wish you all the best, thank you for the entertainment with this thread. xx

I say, why not use savings NOW? 
Excellent question- was considering possibilty,that one isa might be worth withdrawing from
Alternatively use a few hundred each from two isa's 
Zero apr alllows a few months to decide.
 
I wish you all the best, thank you for the entertainment with this thread. 

Kind of you thanks

Grumpy_chap

Dandytf said:

Grumpy_chap said:

Dandytf said:

No idea of purpose of latest Aqua Card.

Why would anyone take any credit card if they don't know why they want it?

I've' no idea.

Well, if you don't know why you want or need the Aqua card, plus you have savings, the more MSE approach would be to not get the credit card and use savings for necessary expenditure.

[Deleted User]

born_again said:

cymruchris said:I understand that you want to improve your 'image' with the credit reference agencies - and get better deals - but this is a major step backwards in my view.

As we know the only things that matter to lenders is your credit history & your income to available debt ratio.

So this is exactly why offers are Diminishing. As lenders are picking up that OP is taking on more debt & is fast running back to the point where their outgoings will exceed the income.

Still at some point soon there will be no credit providers that have not been hit by the OP.

His debt is already more than his income, he's already having to BT payments he can't make and running up finance (the second hand Zoe (finance not quoted), the windows at 9.9% APR over 3 years, the iMac on credit (Apple site says it's 14.9% representative APR)) and doesn't see the issue in paying interest on his credit cards (e.g. in this thread). Add on top the fact he's not told his existing lenders his income (already low - I think it was about 17-18k) is now at 50% due to part time working from illness and his struggle to get benefits. I'd be surprised if his debt repayment isn't already close to that point, even if he's just doing minimum payments.

[Deleted User]

MalMonroe said:

I love this thread, it really is a crazy one! Especially the last post from OP. Is this the way to treat one's finances? OP seems to be surviving well.

However, OP you said

"1.3k VM is greatest challenge for year ahead, I'll start soon with 250 payment.
Though can't keep making such increments.
I'll be tempted to use Savings at some point.
Zero apr until early 2023.
I still intend to regain absolute Zero CC ...eventually."

I say, why not use savings NOW? If you have them, clear as many debts as possible and start saving again instead of making payments plus interest to CC companies. 

I say this as someone who has survived great financial difficulty followed by a DRO and who is now debt-free (apart from car payments which will end in August this year). It's taken me a few years but the penny has finally dropped with me where debt is concerned. It could happen to you, too. 

I wish you all the best, thank you for the entertainment with this thread. xx

He's already been through a DMP, as soon as he got out, he started all the bad habits all over again. As I pointed out above, the amount of finance he has open (not available credit, actual debt) on a 9k income is horrendous

Dandytf

Deleted_User said:

born_again said:

cymruchris said:I understand that you want to improve your 'image' with the credit reference agencies - and get better deals - but this is a major step backwards in my view.

As we know the only things that matter to lenders is your credit history & your income to available debt ratio.

So this is exactly why offers are Diminishing. As lenders are picking up that OP is taking on more debt & is fast running back to the point where their outgoings will exceed the income.

Still at some point soon there will be no credit providers that have not been hit by the OP.

His debt is already more than his income, he's already having to BT payments he can't make and running up finance (the second hand Zoe (finance not quoted), the windows at 9.9% APR over 3 years, the iMac on credit (Apple site says it's 14.9% representative APR)) and doesn't see the issue in paying interest on his credit cards (e.g. in this thread). Add on top the fact he's not told his existing lenders his income (already low - I think it was about 17-18k) is now at 50% due to part time working from illness and his struggle to get benefits. I'd be surprised if his debt repayment isn't already close to that point, even if he's just doing minimum payments.

No Idea of my combined income, very well to continue posting often Inaccurately. 

[Deleted User]

No Idea of my combined income, very well to continue posting often Inaccurately. 

I enjoy my 100% of Salary of Contracted 20 Hours Per Week

Except... Your own post here which you confirm your income is £9650 p.a. working 20 hours per week and I somewhat doubt you've told all your existing lenders that your income is reduced (wonder if you told Aqua when you applied?)

-As most mser's recognise my credit journey is coming to end of Applications. Maybe best I rest from CRA reports and possibly forums for a while. Seems my parking ticket on another thread has reached solicitors stage aggghh! thanks mser's

And yet you said the same thing just a few months ago and subsequently applied for another RBS card and Aqua as well as taking out finance on the iMac and the Zoe. Your own post history shows you've just got an iphone 12 and yet you're trying to get a brand new iphone 13 pro or 14 and posting about buying a DSLR plus lenses, tripod etc. After paying £3k for a door, you're now on about spending £621 on new kitchen work tops

Your post history says you are carrying a debt on your windows finance, zoe finance, Amazon card has a balance, AmEx has a balance, VM has a balance. Having to close the help to save accounts to cover your debt - you're talking about "challenging priorities" - I'll say, you can't afford your lifestyle!

cymruchris

Deleted_User said:

No Idea of my combined income, very well to continue posting often Inaccurately. 

I enjoy my 100% of Salary of Contracted 20 Hours Per Week

Except... Your own post here which you confirm your income is £9650 p.a. working 20 hours per week and I somewhat doubt you've told all your existing lenders that your income is reduced (wonder if you told Aqua when you applied?)

-As most mser's recognise my credit journey is coming to end of Applications. Maybe best I rest from CRA reports and possibly forums for a while. Seems my parking ticket on another thread has reached solicitors stage aggghh! thanks mser's

And yet you said the same thing just a few months ago and subsequently applied for another RBS card and Aqua as well as taking out finance on the iMac and the Zoe. Your own post history shows you've just got an iphone 12 and yet you're trying to get a brand new iphone 13 pro or 14 and posting about buying a DSLR plus lenses, tripod etc. After paying £3k for a door, you're now on about spending £621 on new kitchen work tops

Your post history says you are carrying a debt on your windows finance, zoe finance, Amazon card has a balance, AmEx has a balance, VM has a balance. Having to close the help to save accounts to cover your debt - you're talking about "challenging priorities" - I'll say, you can't afford your lifestyle!

All of that yes. It worries me too that you might be blinding yourself with all of this credit - and thinking to yourself how affordable it all is, and how you're managing it well - but it appears the spend is creeping up, up, up - and you might soon find yourself back in a debt spiral all over again. You know your circumstances more than we do, but from what you've posted, the outlook is currently not positive. In a similar position, I would be restricting my access to new credit spend/applications until I was in a more stable position. 

Grumpy_chap

The OP has savings:

Dandytf said:

I'll be tempted to use Savings at some point.

The OP does not know why they want the Aqua card:

Dandytf said:

No idea of purpose of latest Aqua Card.

Based upon the preceding few comments, the OP has quite high other debts plus lowish income (maybe £10k, maybe £20k per year).

It seems as though the OP need to pay existing debt with the savings and then adopt a "cash only or can't afford it" discipline going forward and absolutely steer clear of all credit if all kinds.