Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Grey's_Anatomyfan643
    • By Grey's_Anatomyfan643 10th Dec 19, 4:36 PM
    • 121Posts
    • 27Thanks
    Grey's_Anatomyfan643
    Stable credit rating
    • #1
    • 10th Dec 19, 4:36 PM
    Stable credit rating 10th Dec 19 at 4:36 PM
    Hi, I need some advice as I have just looked at my credit report and it says it's stable, is this a good thing or a bad thing? recently I just opened a new studio personal credit account which I didn't think I would get as I thought my credit rating is bad but when my studio account came back successful and they offered me a personal credit account of 100 to start with I was shocked, now I just made application for a product with Bright house to rent a smart TV weekly and that came back successful and I had to book appointment with my local store with Bright house to provide them with proof of income and identity like passport / birth certificate.

    So does this stable mean my credit rating isn't bad after all?
Page 1
    • Ben8282
    • By Ben8282 10th Dec 19, 4:44 PM
    • 4,744 Posts
    • 2,621 Thanks
    Ben8282
    • #2
    • 10th Dec 19, 4:44 PM
    • #2
    • 10th Dec 19, 4:44 PM
    What outrageous weekly amount are you being charged to rent a smart TV and why do you need a smart TV?
    As for the Studio account … Representative 49.9% APR variable .. 100 credit limit …..
    • Grey's_Anatomyfan643
    • By Grey's_Anatomyfan643 10th Dec 19, 5:22 PM
    • 121 Posts
    • 27 Thanks
    Grey's_Anatomyfan643
    • #3
    • 10th Dec 19, 5:22 PM
    • #3
    • 10th Dec 19, 5:22 PM
    What outrageous weekly amount are you being charged to rent a smart TV and why do you need a smart TV?
    As for the Studio account Representative 49.9% APR variable .. 100 credit limit ..
    Originally posted by Ben8282
    Excuse me, what has it got to do with you if I want a smart TV? It's 2019 now, we not in the old ages now for old TVs, every one has a smart TV now for catch up TV like BBCiplayer and ITV Hub etc, so it's got nothing to do with you what sort of TV I want, I asked about my credit rating not the TV. If you got nothing nice to say then don't say anything at all.
    • Ben8282
    • By Ben8282 10th Dec 19, 5:27 PM
    • 4,744 Posts
    • 2,621 Thanks
    Ben8282
    • #4
    • 10th Dec 19, 5:27 PM
    • #4
    • 10th Dec 19, 5:27 PM
    Excuse me, what has it got to do with you if I want a smart TV? It's 2019 now, we not in the old ages now for old TVs, every one has a smart TV now for catch up TV like BBCiplayer and ITV Hub etc, so it's got nothing to do with you what sort of TV I want, I asked about my credit rating not the TV. If you got nothing nice to say then don't say anything at all.
    Originally posted by Grey's_Anatomyfan643
    OK then. Your credit rating must be about as low as it can get if you have to rely on 49.9% APR credit and are only given 100 credit limits and are reduced to renting televisions on a pay-weekly basis at what I am sure must be extortionate prices.
    • stehouk
    • By stehouk 10th Dec 19, 5:27 PM
    • 347 Posts
    • 154 Thanks
    stehouk
    • #5
    • 10th Dec 19, 5:27 PM
    • #5
    • 10th Dec 19, 5:27 PM
    I'd think twice about what you are about to do with both companies, they're rates are a rip off, you can buy second hand from the high street cheaper ie: cex or cash generator or charity shops, you don't need a smart tv, just buy a cheap now tv box it has all the catch up tv apps for free.
    • Willing2Learn
    • By Willing2Learn 10th Dec 19, 5:32 PM
    • 5,194 Posts
    • 4,833 Thanks
    Willing2Learn
    • #6
    • 10th Dec 19, 5:32 PM
    • #6
    • 10th Dec 19, 5:32 PM
    ... does this stable mean my credit rating isn't bad after all?
    Originally posted by Grey's_Anatomyfan643
    It means that some lenders trust you with having credit. To improve how your credit file looks to lenders, you will now need to show that you can successfully manage your credit accounts. Your score is irrelevant.

    If it were me, I would send the TV back to Brighthouse and instead save up the funds for a nice TV. Brighthouse is totally un-MSE as it means that people pay thousands renting a device that only costs a few hundred...
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    • Grey's_Anatomyfan643
    • By Grey's_Anatomyfan643 10th Dec 19, 5:56 PM
    • 121 Posts
    • 27 Thanks
    Grey's_Anatomyfan643
    • #7
    • 10th Dec 19, 5:56 PM
    • #7
    • 10th Dec 19, 5:56 PM
    It means that some lenders trust you with having credit. To improve how your credit file looks to lenders, you will now need to show that you can successfully manage your credit accounts. Your score is irrelevant.

    If it were me, I would send the TV back to Brighthouse and instead save up the funds for a nice TV. Brighthouse is totally un-MSE as it means that people pay thousands renting a device that only costs a few hundred...
    Originally posted by Willing2Learn
    I haven't got the TV yet, I just made a the application online and got appointment tomorrow but as others said about the interest rate, I am having second thoughts about getting involved with Bright House, I can save up for a TV on my own.

    I will just keep this Studio account as least I don't have to pay items up front, I can just pay instalments which is good.
    • Ben8282
    • By Ben8282 10th Dec 19, 6:34 PM
    • 4,744 Posts
    • 2,621 Thanks
    Ben8282
    • #8
    • 10th Dec 19, 6:34 PM
    • #8
    • 10th Dec 19, 6:34 PM
    I will just keep this Studio account as least I don't have to pay items up front, I can just pay instalments which is good.
    Originally posted by Grey's_Anatomyfan643
    At 49.9% APR its is not good at all!
    • Ben8282
    • By Ben8282 10th Dec 19, 6:46 PM
    • 4,744 Posts
    • 2,621 Thanks
    Ben8282
    • #9
    • 10th Dec 19, 6:46 PM
    • #9
    • 10th Dec 19, 6:46 PM
    people pay thousands renting a device that only costs a few hundred...
    Originally posted by Willing2Learn
    Back in the 1970's when electrical goods were expensive my parents started to rent a television.
    About 5 years ago I found out that they were paying a ridiculous amount of money every month to continue to rent an old television (not the same television from the 70's. More like something from the 90's). which had obviously been pad for many times over.
    Their response was that they liked to rent beacuse if it broke down they could get it repaired free of charge.
    I told them that I could buy them a better TV from Asda for less than they were paying in the course of a year and it would be cheaper to get rid of the rented one and so long as the new TV lasted a year they could just buy a new one if it broke down and would be better off.
    But would they listen ...
    Last edited by Ben8282; 10-12-2019 at 6:48 PM.
    • MovingForwards
    • By MovingForwards 10th Dec 19, 7:05 PM
    • 3,004 Posts
    • 3,602 Thanks
    MovingForwards
    Get a second hand TV, have a look round BHF as it's 6 or 12 months warranty they give on their electricals.

    I picked my big TV up from cash converters a few years ago, it has internet access, Netflix, YouTube, and probably normal TV if I looked into it, I jack it up to the PC and off I go, also has USB sockets for pen drives, WiFi access etc.
    • JP2019
    • By JP2019 11th Dec 19, 3:50 PM
    • 33 Posts
    • 9 Thanks
    JP2019
    Ben, do you ever post anything that isn’t negative
    • yksi
    • By yksi 12th Dec 19, 10:16 PM
    • 175 Posts
    • 312 Thanks
    yksi
    The word you're looking for is realistic. I think it's fair to say that Ben's first reaction was one of horror - totally justified imo, given that it's considered rock bottom to get a 200 limit at 39% interest, and then along comes someone whose offer is even worse and who's contemplating spending it on a really expensive lifestyle choice.

    Yes, it's a personal choice and certainly allowed, but it would be a disservice to not discourage someone from such a deal.
    • Ben8282
    • By Ben8282 13th Dec 19, 1:48 AM
    • 4,744 Posts
    • 2,621 Thanks
    Ben8282
    The word you're looking for is realistic. I think it's fair to say that Ben's first reaction was one of horror - totally justified imo, given that it's considered rock bottom to get a 200 limit at 39% interest, and then along comes someone whose offer is even worse and who's contemplating spending it on a really expensive lifestyle choice.

    Yes, it's a personal choice and certainly allowed, but it would be a disservice to not discourage someone from such a deal.
    Originally posted by yksi
    Corect yes horror except that it was even worse than you have said - it was a 100 limit at 49.9%!
    Last edited by Ben8282; 13-12-2019 at 4:33 PM.
    • DCFC79
    • By DCFC79 13th Dec 19, 7:48 AM
    • 35,601 Posts
    • 22,472 Thanks
    DCFC79
    Get a second hand TV, have a look round BHF as it's 6 or 12 months warranty they give on their electricals.

    I picked my big TV up from cash converters a few years ago, it has internet access, Netflix, YouTube, and probably normal TV if I looked into it, I jack it up to the PC and off I go, also has USB sockets for pen drives, WiFi access etc.
    Originally posted by MovingForwards
    At least you tried Ben.
    Last edited by DCFC79; 13-12-2019 at 8:15 PM.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

65Posts Today

2,192Users online

Martin's Twitter