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Creit card debt is the unpaid wages of the working class

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By *ot monkey71 OP   Couple
over a year ago

middlesbrough

Had to share that quote with you people. It came from a speech by Ken Capstick former NUM vice president, the speech is addressing the global financial situation. Google it if ya like.

God I am so rock n roll

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

A sign of our consumerist age. People are obsessed with having everything they want now.

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

never had a credit card, if I want something I save then buy it.

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


"never had a credit card, if I want something I save then buy it. "

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

Was raised to save for stuff I need not want. Never have either of us had nor want a credit card, can thankfully say we cant see needing one!

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By *iewMan
Forum Mod
over a year ago

Angus & Findhorn

My credit card works hard for me, it gives me protection on purchases and it costs me zilch....

I don't pay a penny in interest

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

I've never used one or needed/wanted one. So you pay someone to spend your own money? I studied maths at school and this doesn't add up.

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

I have a credit card but only use it when I have to, Then I pay the full amount before any interest goes on it

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


"My credit card works hard for me, it gives me protection on purchases and it costs me zilch....

I don't pay a penny in interest"

use them sensibly and they can be a useful asset. Using them to buy things that you can't really afford to pay back in a reasonable period of time is when the problems start

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


"My credit card works hard for me, it gives me protection on purchases and it costs me zilch....

I don't pay a penny in interest"

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

What's a credit card

If I want something work save up buy it

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By *osieWoman
over a year ago

Wembley


"My credit card works hard for me, it gives me protection on purchases and it costs me zilch....

I don't pay a penny in interest"

plus I get 1.25% cash-back on my no-frills, no fee card. I use my card for every little thing (and I mean, every little thing) and last year I received a cash-back of £300+

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


"My credit card works hard for me, it gives me protection on purchases and it costs me zilch....

I don't pay a penny in interest

plus I get 1.25% cash-back on my no-frills, no fee card. I use my card for every little thing (and I mean, every little thing) and last year I received a cash-back of £300+"

pay them off in full monthly and it's free money!

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

It's a sign if poor money management and in a lot of cases putting 'wants' before 'needs'

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By *osieWoman
over a year ago

Wembley


"My credit card works hard for me, it gives me protection on purchases and it costs me zilch....

I don't pay a penny in interest

plus I get 1.25% cash-back on my no-frills, no fee card. I use my card for every little thing (and I mean, every little thing) and last year I received a cash-back of £300+

pay them off in full monthly and it's free money!"

exactly; have a D/D to pay off in full every month. Credit card companies hate me

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

Iv not got one but thinking off it after I maxed out my bank account on holiday

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


"It's a sign if poor money management and in a lot of cases putting 'wants' before 'needs'"

Not always. I know people that need to use a credit card just to buy food. Without it their families would starve. They don't have holidays, hardly any clothes, crap wages.

Think yourselves lucky.

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

My mother always uses her credit card for hammering the shopping channels but clears the balance every month. Once she have me her statement to pay her card cos I was going into town and couldn't believe the available balance was 19 grand! I couldn't live with that sort of temptation in my purse!

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By *reelove1969Couple
over a year ago

bristol


"It's a sign if poor money management and in a lot of cases putting 'wants' before 'needs'"

no it isn't its common sense .. you get automatic insurance when you buy something with a credit card and as long as you clear the balance every month it costs you nothing

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


"My credit card works hard for me, it gives me protection on purchases and it costs me zilch....

I don't pay a penny in interest

plus I get 1.25% cash-back on my no-frills, no fee card. I use my card for every little thing (and I mean, every little thing) and last year I received a cash-back of £300+

pay them off in full monthly and it's free money!

exactly; have a D/D to pay off in full every month. Credit card companies hate me "

Nah, they love you too! They'll recover more in merchants fees than they give you back in cashback for those transactions so you're making them money too

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By *osieWoman
over a year ago

Wembley


"My credit card works hard for me, it gives me protection on purchases and it costs me zilch....

I don't pay a penny in interest

plus I get 1.25% cash-back on my no-frills, no fee card. I use my card for every little thing (and I mean, every little thing) and last year I received a cash-back of £300+

pay them off in full monthly and it's free money!

exactly; have a D/D to pay off in full every month. Credit card companies hate me

Nah, they love you too! They'll recover more in merchants fees than they give you back in cashback for those transactions so you're making them money too"

Somebody loves me

On a serious note; and please don't all jump on me at once (please do, but not in this context ). Everybody has to buy food, most pay for gasoline or other transport costs, etc. Why not use a credit card, get some money back at the same time and be able to keep an eye on the monthly spend? Just wondering

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


"My credit card works hard for me, it gives me protection on purchases and it costs me zilch....

I don't pay a penny in interest

plus I get 1.25% cash-back on my no-frills, no fee card. I use my card for every little thing (and I mean, every little thing) and last year I received a cash-back of £300+

pay them off in full monthly and it's free money!

exactly; have a D/D to pay off in full every month. Credit card companies hate me

Nah, they love you too! They'll recover more in merchants fees than they give you back in cashback for those transactions so you're making them money too

Somebody loves me

On a serious note; and please don't all jump on me at once (please do, but not in this context ). Everybody has to buy food, most pay for gasoline or other transport costs, etc. Why not use a credit card, get some money back at the same time and be able to keep an eye on the monthly spend? Just wondering"

I do it that way. Everything over £4 I put on my credit card.

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By *iewMan
Forum Mod
over a year ago

Angus & Findhorn

I trade all the points I have earned on my Natwest card for M&S vouchers....

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By *ot monkey71 OP   Couple
over a year ago

middlesbrough


"It's a sign if poor money management and in a lot of cases putting 'wants' before 'needs'

Not always. I know people that need to use a credit card just to buy food. Without it their families would starve. They don't have holidays, hardly any clothes, crap wages.

Think yourselves lucky. "

This is what the speech was about, the fact that some people have to rely on credit to live. It was not a speech bashing credit card users.

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


"never had a credit card, if I want something I save then buy it. "

Commendable but there are advantages- remember stories of companies go bust mand customers lose out who have paid cash and products not yet delivered etc just ask Martin Lewis.

Maybe something you should consider if you can trust yourself not to run the credit limit up.

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

The only thing I use a credit card for are serious transactions I make online.

Because if that person turns out to be a shithead I can get my moneyback.

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

Never having a credit card of credit cost me an extra 6% deposit needed to be accepted for a mortgage.

It's bullshit, sure they will lend to people who borrow, borrow, borrow. But we come along and do all the calculations with the bank, prove we can afford to still pay twice over even if interest rates rocketed over 300%. But because we've never borrowed before they wouldn't lend until we stumped up over 3 times the deposit what they asked off others.

Government help to buy scheme for Young first time buyers......fucking lolz

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By *osieWoman
over a year ago

Wembley


"Never having a credit card of credit cost me an extra 6% deposit needed to be accepted for a mortgage.

It's bullshit, sure they will lend to people who borrow, borrow, borrow. But we come along and do all the calculations with the bank, prove we can afford to still pay twice over even if interest rates rocketed over 300%. But because we've never borrowed before they wouldn't lend until we stumped up over 3 times the deposit what they asked off others.

Government help to buy scheme for Young first time buyers......fucking lolz "

Erm, the logic in that is a track history of borrow, settle, borrow, settle, borrow, settle, .....

Just borrow, borrow, borrow only means bad debts which no financial institution wants

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


"But because we've never borrowed before they wouldn't lend until we stumped up over 3 times the deposit what they asked off others.

"

I was in steady employment in a good job for 7 years, I COULDN'T get a mortgage.

I could STILL, in fact, afford a Mortgage.

I now have my own business I still CANNOT get a Mortgage.

As fucked up as it is, I don't have enough debt.

So I'm flushing cash down the toilet on rent and have been for 10 years.

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


"But because we've never borrowed before they wouldn't lend until we stumped up over 3 times the deposit what they asked off others.

I was in steady employment in a good job for 7 years, I COULDN'T get a mortgage.

I could STILL, in fact, afford a Mortgage.

I now have my own business I still CANNOT get a Mortgage.

As fucked up as it is, I don't have enough debt.

So I'm flushing cash down the toilet on rent and have been for 10 years.

"

A friend of mine was told by his bank to get a few store cards, Buy some clothes on them and then re-apply for the mortgage, It worked for him

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


"

Erm, the logic in that is a track history of borrow, settle, borrow, settle, borrow, settle, .....

Just borrow, borrow, borrow only means bad debts which no financial institution wants"

The point is how are young first time buyers supposed to get started with re logic of you need to have borrowed before so you can borrow again. Totally understand their reasoning but when all the figures are done and the repayment mortgage would be less than £250 a month. We were still declined until we deposited over 16%

I also bank with the mortgage provider so they could see all the savings history.

But if I had little ability to save and put the tv, sofa, kettle and the bloody hamster on the tick, that's ok because at least I'll of payed it back yeah sure we'll lend to you on a 95% deal at £600 a month repayments.........

Seems a little flawed to me

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


"It's a sign if poor money management and in a lot of cases putting 'wants' before 'needs'

Not always. I know people that need to use a credit card just to buy food. Without it their families would starve. They don't have holidays, hardly any clothes, crap wages.

Think yourselves lucky. "

I work full time, run a car that's worth about £300 (depending on how full the tank is!) And haven't been on holiday since my 30th. I pay all my bills on time, but often find there is too much month left at the end of my money so I often have to turn to the credit card to fuel my car or buy the bare minimum to take sandwiches to work, and I can rarely afford to pay the full balance off every month. There isn't anything left for me to give up except maybe food, gas or electricity! I'm trying to find myself a job closer to home to save myself around £100 a month in fuel costs, but that's proving a challenge but hey I'm open to suggestions on how someone who has no idea about my money can tell me how to manage it better, and how being able to get work so I can pay next month's bills isn't a need

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


"But because we've never borrowed before they wouldn't lend until we stumped up over 3 times the deposit what they asked off others.

I was in steady employment in a good job for 7 years, I COULDN'T get a mortgage.

I could STILL, in fact, afford a Mortgage.

I now have my own business I still CANNOT get a Mortgage.

As fucked up as it is, I don't have enough debt.

So I'm flushing cash down the toilet on rent and have been for 10 years.

A friend of mine was told by his bank to get a few store cards, Buy some clothes on them and then re-apply for the mortgage, It worked for him"

I was turned down for a mortgage once because I had too much access to credit that I hadn't used, i.e. I had credit cards and store cards with nil balances but big credit limits. I would have thought that showed a bit of financial responsibility in being able to resist temptation of just spending up to all the limits but apparently not

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


"Never having a credit card of credit cost me an extra 6% deposit needed to be accepted for a mortgage.

It's bullshit, sure they will lend to people who borrow, borrow, borrow. But we come along and do all the calculations with the bank, prove we can afford to still pay twice over even if interest rates rocketed over 300%. But because we've never borrowed before they wouldn't lend until we stumped up over 3 times the deposit what they asked off others.

Government help to buy scheme for Young first time buyers......fucking lolz "

Did you go through a broker, or just direct to one bank/mortgage provider? Some lenders will come up with quite bizarre reasons if you don't fit their lending profile.

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By *inaTitzTV/TS
over a year ago

Titz Towers, North Notts

It's not often you see the gaffer of a union being quoted these days.

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By *ere-for-my-convenienceWoman
over a year ago

West Midlands

Never owned a credit card

Never ever will

Quite simply they're sinfully prompting help when in fact all you often get is increasing financial difficulties

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By *ot monkey71 OP   Couple
over a year ago

middlesbrough


"It's not often you see the gaffer of a union being quoted these days. "

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


"Never having a credit card of credit cost me an extra 6% deposit needed to be accepted for a mortgage.

It's bullshit, sure they will lend to people who borrow, borrow, borrow. But we come along and do all the calculations with the bank, prove we can afford to still pay twice over even if interest rates rocketed over 300%. But because we've never borrowed before they wouldn't lend until we stumped up over 3 times the deposit what they asked off others.

Government help to buy scheme for Young first time buyers......fucking lolz

Did you go through a broker, or just direct to one bank/mortgage provider? Some lenders will come up with quite bizarre reasons if you don't fit their lending profile. "

Went to a broker who quite foolishly showed us all the info of who was cheapest and what the deal included. Before we had to pay. Santander came out well in front, I also bank with then so get the cash back on top

So we got all the info from the broker with him charging us....found it quite odd really.

It's worked out better in the long run as we have a really low interest bracket and the monthly repayments are low. It's just the logic I sont agree with

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


"Never owned a credit card

Never ever will

Quite simply they're sinfully prompting help when in fact all you often get is increasing financial difficulties

"

Yes and no, if you know how to play them they can be useful you just have to remember they're not your friend, impossible to hire a holiday car without one

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

I have a credit card, with a nil balance on it.

Only used for large purchases.

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By *ere-for-my-convenienceWoman
over a year ago

West Midlands


"Never owned a credit card

Never ever will

Quite simply they're sinfully prompting help when in fact all you often get is increasing financial difficulties

Yes and no, if you know how to play them they can be useful you just have to remember they're not your friend, impossible to hire a holiday car without one "

Indeed

My friends I go on holiday with have them

I give them the cash

Plus my Greek friend has a chauffeur so I don't need cash period lol

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


"My credit card works hard for me, it gives me protection on purchases and it costs me zilch....

I don't pay a penny in interest"

that is the way to do it. Same here.

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By *ary baileyCouple
over a year ago

basildon

I love them. I use them for everything poSible. free insurance, 0% finance. Last month I cashed in my points from one xard and got £40 in argos vouchers. I never pay interest just minimum payment. Mean while the money I've spent is earning me 5% interest in the bank. People can get in trouble if not used wisely. If I could I pay everything on credit cards and earn interest on the rest. 1 card was even doing cash to bank interest free. Perfect if you have a flexible mortgage. 5k off mortgage. Or Just Put In Bank And Earn Interest. But don't use them if planning on getting a mortgage. Really foods them up these days. I'd have never become a home owner 16 years ago without a credit card.

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


"never had a credit card, if I want something I save then buy it. "
like a house ?

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


"

I do it that way. Everything over £4 I put on my credit card. "

So it was YOU keeping everyone in the queue waiting while your card wouldn't connect was it!?, I was tempted to tell the cashier I'd pay for it till I saw the price of the lipstick.

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

If used repsonsibly, like most things, they are fine. When they are used to fund a gap between incomings and outgoings on a regular basis is when things start to go wrong and individuals need to look carefully at their situation and potentially seek help.

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By *reelove1969Couple
over a year ago

bristol


"

I work full time, run a car that's worth about £300 (depending on how full the tank is!) And haven't been on holiday since my 30th. I pay all my bills on time, but often find there is too much month left at the end of my money so I often have to turn to the credit card to fuel my car or buy the bare minimum to take sandwiches to work, and I can rarely afford to pay the full balance off every month. There isn't anything left for me to give up except maybe food, gas or electricity! I'm trying to find myself a job closer to home to save myself around £100 a month in fuel costs, but that's proving a challenge but hey I'm open to suggestions on how someone who has no idea about my money can tell me how to manage it better, and how being able to get work so I can pay next month's bills isn't a need "

cancel your internet and subscription to a swingers site

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


"never had a credit card, if I want something I save then buy it. "

Exactly. Don't have debt.

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By *reelove1969Couple
over a year ago

bristol


"never had a credit card, if I want something I save then buy it.

Exactly. Don't have debt."

If you don't have debt you will never get credit ...crazy idea !!

do you guys roll up with cash to buy a house also ??

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By *ere-for-my-convenienceWoman
over a year ago

West Midlands


"never had a credit card, if I want something I save then buy it.

Exactly. Don't have debt.

If you don't have debt you will never get credit ...crazy idea !!

do you guys roll up with cash to buy a house also ??"

Yes both my father in law and my husband did

26k cheque and 37k cheque to buy outright

Your point being?

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


"I have a credit card but only use it when I have to, Then I pay the full amount before any interest goes on it"

Me too

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By *eekendsCouple
over a year ago

Darlington

The arrogance of people with money, They can manipulate money and get the best value all the way round , when you are not well off you sometimes don't listen to your own commonsense and get it anyway , which can sometimes lead to paying way over the top for something you didn't need anyway.

Then the people who come out with statement s make even more money

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By *reelove1969Couple
over a year ago

bristol


"

Yes both my father in law and my husband did

26k cheque and 37k cheque to buy outright

Your point being?

"

very commendable ...my point being that it would be very difficult to do in today's climate as the average house is £150 k ...it makes more sense to establish a credit history of reliable borrowing and taking out a mortgage

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


"

I work full time, run a car that's worth about £300 (depending on how full the tank is!) And haven't been on holiday since my 30th. I pay all my bills on time, but often find there is too much month left at the end of my money so I often have to turn to the credit card to fuel my car or buy the bare minimum to take sandwiches to work, and I can rarely afford to pay the full balance off every month. There isn't anything left for me to give up except maybe food, gas or electricity! I'm trying to find myself a job closer to home to save myself around £100 a month in fuel costs, but that's proving a challenge but hey I'm open to suggestions on how someone who has no idea about my money can tell me how to manage it better, and how being able to get work so I can pay next month's bills isn't a need

cancel your internet and subscription to a swingers site "

And have almost no connection with the outside world at all, what a fantastic existence that would be! In today's society I'm not sure I believe the internet is a luxury rather than a necessity, but I'm sure many will disagree. And without the internet how do I job hunt successfully? Or manage and pay my bills (most of which are online accounts to sometimes get better rates). My £2.50 a month subscription to here I could probably do without, but I find the private notes function on here has saved me a few wasted trips and so has more than paid for itself in my eyes.

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By *ere-for-my-convenienceWoman
over a year ago

West Midlands


"

Yes both my father in law and my husband did

26k cheque and 37k cheque to buy outright

Your point being?

very commendable ...my point being that it would be very difficult to do in today's climate as the average house is £150 k ...it makes more sense to establish a credit history of reliable borrowing and taking out a mortgage "

Even easier to save from childhood and not incur interest charges for the duration of your adult working life

It's all relative

Those sums of money would mean the same then as those of today would be

And my ex husband and father in law were just hard working regular men who were not frivolous with cash and reaped the rewards of good cash management

I'm the same

I never ever buy what I cannot afford to buy outright in cash

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By *erbyDalesCplCouple
over a year ago

Derbyshire

I was once told you should always have 5 years' debt. That way, when you die, you've effectively lived 5 years longer!

Then I realised, on signing up for the loan on my first bike, that had I waited a year, and saved up instead of borrowed, I could have afforded a car.

Mr ddc

Ps never believe anything an NUM leader says

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

It worries me when I hear people using phrases like "I use my credit card at the end of the month as I have run out of cash".

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By *ere-for-my-convenienceWoman
over a year ago

West Midlands


"It worries me when I hear people using phrases like "I use my credit card at the end of the month as I have run out of cash". "

Me too

Buy less stuff it's really that simple

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By *reelove1969Couple
over a year ago

bristol


"It worries me when I hear people using phrases like "I use my credit card at the end of the month as I have run out of cash". "

you'd probably need medical assistance if you ever came to Bristol then as every other shop on our high street is either a pawn proker, charity shop, pay day loan shop or cash converters !

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


"It worries me when I hear people using phrases like "I use my credit card at the end of the month as I have run out of cash".

you'd probably need medical assistance if you ever came to Bristol then as every other shop on our high street is either a pawn proker, charity shop, pay day loan shop or cash converters !"

There needs to be much more education, so people know how to prepare a personal budget etc from an early age.

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By *nnyMan
over a year ago

Glasgow


"It worries me when I hear people using phrases like "I use my credit card at the end of the month as I have run out of cash". "

Cheaper than a payday loan and safer than a local loanshark.

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


"It worries me when I hear people using phrases like "I use my credit card at the end of the month as I have run out of cash". "

It worries me too but I have no choice when 70%+ of my salary goes on bills before I've even looked at food and fuel! It's not as simple as stopping paying things as I need fuel to get to work to pay the bills. I haven't got savings as I made the mistake of going to university after letting teachers convince me it would be worthwhile, it wasn't! There is no 'help' available to me as you've mentioned in a previous post as I'm single, childless and in full time employment. Not everyone that uses credit is just an idiot who buys everything they see whether they can afford it out not, some of us are genuinely struggling to get by regardless of how hard we try to make ends meet.

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


"It worries me when I hear people using phrases like "I use my credit card at the end of the month as I have run out of cash".

Cheaper than a payday loan and safer than a local loanshark."

Of course, but the use of debt to fund day to day living is a recipe for long term problems, wherever the money is being borrowed.

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By *ere-for-my-convenienceWoman
over a year ago

West Midlands


"It worries me when I hear people using phrases like "I use my credit card at the end of the month as I have run out of cash".

It worries me too but I have no choice when 70%+ of my salary goes on bills before I've even looked at food and fuel! It's not as simple as stopping paying things as I need fuel to get to work to pay the bills. I haven't got savings as I made the mistake of going to university after letting teachers convince me it would be worthwhile, it wasn't! There is no 'help' available to me as you've mentioned in a previous post as I'm single, childless and in full time employment. Not everyone that uses credit is just an idiot who buys everything they see whether they can afford it out not, some of us are genuinely struggling to get by regardless of how hard we try to make ends meet."

Get a weekend job

It's what I did

I'm not trying to be unhelpful truelly

But ask about carpoolong to get to work

Borrowing will not help you long term

You're incoming cash has to increase

Or your outgoings decrease

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


"It worries me when I hear people using phrases like "I use my credit card at the end of the month as I have run out of cash".

It worries me too but I have no choice when 70%+ of my salary goes on bills before I've even looked at food and fuel! It's not as simple as stopping paying things as I need fuel to get to work to pay the bills. I haven't got savings as I made the mistake of going to university after letting teachers convince me it would be worthwhile, it wasn't! There is no 'help' available to me as you've mentioned in a previous post as I'm single, childless and in full time employment. Not everyone that uses credit is just an idiot who buys everything they see whether they can afford it out not, some of us are genuinely struggling to get by regardless of how hard we try to make ends meet."

There is help available, if you are running up debt levels to fund day to day living I would suggest you look for it and speak to an expert.

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


"It worries me when I hear people using phrases like "I use my credit card at the end of the month as I have run out of cash".

It worries me too but I have no choice when 70%+ of my salary goes on bills before I've even looked at food and fuel! It's not as simple as stopping paying things as I need fuel to get to work to pay the bills. I haven't got savings as I made the mistake of going to university after letting teachers convince me it would be worthwhile, it wasn't! There is no 'help' available to me as you've mentioned in a previous post as I'm single, childless and in full time employment. Not everyone that uses credit is just an idiot who buys everything they see whether they can afford it out not, some of us are genuinely struggling to get by regardless of how hard we try to make ends meet.

There is help available, if you are running up debt levels to fund day to day living I would suggest you look for it and speak to an expert. "

Look where? At debt management and lose my house, the only thing I have?! I am slowly getting there with my debts but I just get frustrated with how many assume that the only people that use credit either spend money like water or don't work. I've worked in some way shape or form since finishing school aside from a few months when I lost my job which set me back a bit in getting straight... And meant I had to take the first job I could just to get an income, hence the distance and higher fuel costs. I know what money I have coming in and going out even if the sums don't always add up so it isn't that I can't budget, it's just there isn't always enough in the pot.

No one wants debt, and I hope all of you that slate those who use it are never in the same position where you have to use it too, but sometimes it's a necessary evil.

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


"It worries me when I hear people using phrases like "I use my credit card at the end of the month as I have run out of cash".

It worries me too but I have no choice when 70%+ of my salary goes on bills before I've even looked at food and fuel! It's not as simple as stopping paying things as I need fuel to get to work to pay the bills. I haven't got savings as I made the mistake of going to university after letting teachers convince me it would be worthwhile, it wasn't! There is no 'help' available to me as you've mentioned in a previous post as I'm single, childless and in full time employment. Not everyone that uses credit is just an idiot who buys everything they see whether they can afford it out not, some of us are genuinely struggling to get by regardless of how hard we try to make ends meet.

There is help available, if you are running up debt levels to fund day to day living I would suggest you look for it and speak to an expert.

Look where? At debt management and lose my house, the only thing I have?! I am slowly getting there with my debts but I just get frustrated with how many assume that the only people that use credit either spend money like water or don't work. I've worked in some way shape or form since finishing school aside from a few months when I lost my job which set me back a bit in getting straight... And meant I had to take the first job I could just to get an income, hence the distance and higher fuel costs. I know what money I have coming in and going out even if the sums don't always add up so it isn't that I can't budget, it's just there isn't always enough in the pot.

No one wants debt, and I hope all of you that slate those who use it are never in the same position where you have to use it too, but sometimes it's a necessary evil."

No one is slating you, I am sure we all empathise with the situation in which you find yourself. The heartfelt advice is to speak to an expert to see what help is out there rather than running up unsustainable debts which will be worse in the long run.

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By *nnyMan
over a year ago

Glasgow


"It worries me when I hear people using phrases like "I use my credit card at the end of the month as I have run out of cash".

Cheaper than a payday loan and safer than a local loanshark.

Of course, but the use of debt to fund day to day living is a recipe for long term problems, wherever the money is being borrowed."

Someone should tell George Osborne.

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


"It worries me when I hear people using phrases like "I use my credit card at the end of the month as I have run out of cash".

Cheaper than a payday loan and safer than a local loanshark.

Of course, but the use of debt to fund day to day living is a recipe for long term problems, wherever the money is being borrowed.

Someone should tell George Osborne."

From what I saw this morning, Osborne doesn't need to be told, Ed Balls on the other hand.....

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By *ot monkey71 OP   Couple
over a year ago

middlesbrough

Credit is the money you should of been given as a wage. The only reason we are allowed credit is to keep the consumer industry in business. No credit = no consumers.

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By *ere-for-my-convenienceWoman
over a year ago

West Midlands

Try calling MA the money advice service

The CAB

And I brought 3 kids up for several years on only a part time wage initially so I do know about hardship and budgeting totally

Try emailing Martin Lewis's website

He has some great ideas

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By *ary baileyCouple
over a year ago

basildon

Nice to have rich parents. You didn't exactly save for it. I had to get a 95% mortgage with 5% cash back so deposit was personal loan from friend which I paid straight back.

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By *ere-for-my-convenienceWoman
over a year ago

West Midlands


"Nice to have rich parents. You didn't exactly save for it. I had to get a 95% mortgage with 5% cash back so deposit was personal loan from friend which I paid straight back. "

Who has rich parents?

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By *ary baileyCouple
over a year ago

basildon


"

Yes both my father in law and my husband did

26k cheque and 37k cheque to buy outright

Your point being?

very commendable ...my point being that it would be very difficult to do in today's climate as the average house is £150 k ...it makes more sense to establish a credit history of reliable borrowing and taking out a mortgage "

150k wish that was prices near me a 3 bed mid terrace I'd class as average is 200k mines an ex council on an estate and valued at 165k

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By *at69driveMan
over a year ago

Hertford


"But because we've never borrowed before they wouldn't lend until we stumped up over 3 times the deposit what they asked off others.

I was in steady employment in a good job for 7 years, I COULDN'T get a mortgage.

I could STILL, in fact, afford a Mortgage.

I now have my own business I still CANNOT get a Mortgage. Have you tried using a specialist mortgage broker ? They would have full knowledge of the lending criteria for all building societies and banks .

As fucked up as it is, I don't have enough debt.

So I'm flushing cash down the toilet on rent and have been for 10 years.

"

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By *ere-for-my-convenienceWoman
over a year ago

West Midlands


"

Yes both my father in law and my husband did

26k cheque and 37k cheque to buy outright

Your point being?

very commendable ...my point being that it would be very difficult to do in today's climate as the average house is £150 k ...it makes more sense to establish a credit history of reliable borrowing and taking out a mortgage

150k wish that was prices near me a 3 bed mid terrace I'd class as average is 200k mines an ex council on an estate and valued at 165k"

They were normal every day hard working ex council estate men who saved every penny from every birthday bonus check and overtime wages to go straight into a high interest savings account

So no rich they were not!

Cash savvy is what they were and very frugal to the point of miserly until they paid for their respective homes

It's not rocket science

Anyone else can save and spend less

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By *osieWoman
over a year ago

Wembley


"

Erm, the logic in that is a track history of borrow, settle, borrow, settle, borrow, settle, .....

Just borrow, borrow, borrow only means bad debts which no financial institution wants

The point is how are young first time buyers supposed to get started with re logic of you need to have borrowed before so you can borrow again. Totally understand their reasoning but when all the figures are done and the repayment mortgage would be less than £250 a month. We were still declined until we deposited over 16%

I also bank with the mortgage provider so they could see all the savings history.

But if I had little ability to save and put the tv, sofa, kettle and the bloody hamster on the tick, that's ok because at least I'll of payed it back yeah sure we'll lend to you on a 95% deal at £600 a month repayments.........

Seems a little flawed to me "

I agree. The system is flawed; catch-22; just as young people these days cannot get employment because they have no experience

I was not suggesting that this is how it should be; just that this is what a financial analyst's reasoning is

When I came to this country, I had no credit history. And in Germany, taking credit is frowned upon. I had always lived within whatever my income was (and is). But buying a flat in London was not something I could save up for. When I applied for a mortgage, I faced the same issue

I obtained a mortgage through a 'mortgage consultant'. Little did I know that they obtained one of the most expensive mortgage which was available because they got a bigger commission

Later I found out that all I had to do was to apply for a couple of low value credit cards, put my usual monthly expenditure on these and settle these every month for about 6 months. Wish I knew this before I paid an extra £5,000 in mortgage interest over 5 years

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By *osieWoman
over a year ago

Wembley


"

I do it that way. Everything over £4 I put on my credit card.

So it was YOU keeping everyone in the queue waiting while your card wouldn't connect was it!?, I was tempted to tell the cashier I'd pay for it till I saw the price of the lipstick."

Contactless technology Sort of like an 'air kiss' one gives in swinging clubs to people who you dont want to have sex with

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By *icketysplitsWoman
over a year ago

Way over Yonder, that's where I'm bound


"My credit card works hard for me, it gives me protection on purchases and it costs me zilch....

I don't pay a penny in interest"

I also get John Lewis vouchers that pay for my lipsticks.

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By *icketysplitsWoman
over a year ago

Way over Yonder, that's where I'm bound


"It worries me when I hear people using phrases like "I use my credit card at the end of the month as I have run out of cash".

It worries me too but I have no choice when 70%+ of my salary goes on bills before I've even looked at food and fuel! It's not as simple as stopping paying things as I need fuel to get to work to pay the bills. I haven't got savings as I made the mistake of going to university after letting teachers convince me it would be worthwhile, it wasn't! There is no 'help' available to me as you've mentioned in a previous post as I'm single, childless and in full time employment. Not everyone that uses credit is just an idiot who buys everything they see whether they can afford it out not, some of us are genuinely struggling to get by regardless of how hard we try to make ends meet.

There is help available, if you are running up debt levels to fund day to day living I would suggest you look for it and speak to an expert.

Look where? At debt management and lose my house, the only thing I have?! I am slowly getting there with my debts but I just get frustrated with how many assume that the only people that use credit either spend money like water or don't work. I've worked in some way shape or form since finishing school aside from a few months when I lost my job which set me back a bit in getting straight... And meant I had to take the first job I could just to get an income, hence the distance and higher fuel costs. I know what money I have coming in and going out even if the sums don't always add up so it isn't that I can't budget, it's just there isn't always enough in the pot.

No one wants debt, and I hope all of you that slate those who use it are never in the same position where you have to use it too, but sometimes it's a necessary evil.

No one is slating you, I am sure we all empathise with the situation in which you find yourself. The heartfelt advice is to speak to an expert to see what help is out there rather than running up unsustainable debts which will be worse in the long run."

On here any form of debt is always seen as something to slate and little empathy offered.

I have been where this poster is now and really could not have survived if I hadn't made a decision to factor debt into my accounts. It's just gearing in business terms to get you to where you need to be.

I have also been the pigate spendthrift who got into serious debt. It was a huge symptom of my depression at the time. I was, luckily, never at the lose everything stage but it was a scary amount and took me three years to clear and turn into savings.

Once I had savings equivalent to what had been my debt I lost most of it in 2008 crash. That irony wasn't lost on me.

I took those lessons and changed my approach to credit and now make it work for me.

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By *evaquitCouple
over a year ago

Catthorpe

No credit cards here, we have no need. All direct debts out of our basic account and a prepaid Kalixa debit card we transfer to from the basic = no overdraft, no debt, works absolutely fine.

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By *icketysplitsWoman
over a year ago

Way over Yonder, that's where I'm bound


"Credit is the money you should of been given as a wage. The only reason we are allowed credit is to keep the consumer industry in business. No credit = no consumers.

"

Plus the surcharge placed on being poor of basic bank accounts, higher costs for heat and light, not being able to buy in bulk etc.

Look up the poverty premium.

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

There has been a gathering pace in the UK to move to the American financial model, where you work just to pay off your credit.

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

I got turned down for my first ever mortgage because I had no credit history. Applied and got a credit card, then hay presto the mortgage was easy x

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By *eithoWoman
over a year ago

Chatham

Horrible things, they make it far too easy to accrue debt.

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By *ophieslutTV/TS
over a year ago

Central

To the extent that the poorer have massively lost financially over recent years, whilst the wealthier have gained, this has some truth.

Many markets - including the financial - have been too deregulated and the reverse is needed, alongside higher living wages.

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