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By (user no longer on site) OP   
over a year ago

A few months ago I needed to get a new pair of boots but due to my wider calves I can't just buy any old pair so opened an account with JD Williams to make use of an offer at the time.

Bare in mind I am unemployed, they gave me a limit of £125. I ordered the boots and used money I had saved to pay the debt off as soon as the boots arrived.

They have no whacked my credit limit up to £350! I could, if I wanted, order something like a laptop then say I could not longer afford to pay but as it is a non priority debt there wouldn't be much they could do other then send it to a debt collector and receive £1 a month.

Surely it is just irresponsible on their part and they end up losing out but giving such credit to people who probably can't pay it off? I remember reading an article in a magazine where an unemployed single Mum took out loans for boob jobs etc but never paid them back other than £1 a month token payment

Also, does anyone know that if I don't use the credit and it just keeps increasing is it improving my credit score?

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By (user no longer on site)
over a year ago

I would agree that this is typical irresponsible lending, you did the right thing by saving for the wanted item.

To your question about credit score....your quick payment to this lender would or should be marked on your credit file which will increase your over all credit score.

However if a lender puts an increase credit limit to a customers due to quick payment....this wont increase your credit score.

You can only purchase and repay the debt on time and in full to gain an increased credit score.

I hope this helps

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By *ichaelangelaCouple
over a year ago

notts

quite agree, they seem to encourage people to get into debt.

We have had a credit card for a few years now, use it as a free loan for 30 days, i.e. always pay it all off at the end of the month, only recently realised that we have a £12.500 credit limit on EACH CARD, total credit limit of £25k between the 2 of us

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By (user no longer on site)
over a year ago


"quite agree, they seem to encourage people to get into debt.

We have had a credit card for a few years now, use it as a free loan for 30 days, i.e. always pay it all off at the end of the month, only recently realised that we have a £12.500 credit limit on EACH CARD, total credit limit of £25k between the 2 of us

"

that's almost enough to buy a house here

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By (user no longer on site)
over a year ago

i always pay for stuff i get from them straight away otherwise they charge you interest, which makes it more expensive.

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By *ichaelangelaCouple
over a year ago

notts


"quite agree, they seem to encourage people to get into debt.

We have had a credit card for a few years now, use it as a free loan for 30 days, i.e. always pay it all off at the end of the month, only recently realised that we have a £12.500 credit limit on EACH CARD, total credit limit of £25k between the 2 of us

that's almost enough to buy a house here"

being originally from nottingham, I know mansfield quite well, think i'll give it a miss thanks

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By (user no longer on site)
over a year ago

I went to Mansfield once but it was closed

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By (user no longer on site)
over a year ago

I used to have a good credit rating, until these type of companies kept banging up the amounts on cards etc.

Now i am constantly on the phone to lower the limits which they do and then bang them up again, it's a never ending circle

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By (user no longer on site) OP   
over a year ago

I'm going to keep it as it is, may use it for small things then pay off straight away to improve my credit rating but I may need a new laptop in the next few months so it gives me time to save up most of it (my Dad gives me money for birthdays and Christmas)

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By *uby0000Woman
over a year ago

hertfordshire

these companies don't care if you can pay it back .... they annoy me

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By (user no longer on site) OP   
over a year ago


"these companies don't care if you can pay it back .... they annoy me "

How can they make money though? x

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By (user no longer on site)
over a year ago

My son doesn't like credit, he favours the saving first then buy, which is responsible but he has a limited credit rating as he's not using credit. His score on experion is average.

He was advised to get a credit card, spend something on it, ie petrol, and pay it back every month. This way it shows a trail of spending and repaying

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By (user no longer on site)
over a year ago


"these companies don't care if you can pay it back .... they annoy me

How can they make money though? x"

What's the APR? I'd guess pretty high. Believe me they make their money with those paying minimum repayment wach month.

Don't believe the £1 a month repayments either. I've worked in debt recovery and it's not as simple as it is portrayed.

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By *iamondsmiles.Woman
over a year ago

little house on the praire

I've got £1000,s that I never used as I pay anything of in full when the bill arrives. Think I've got £5000 on next alone

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