FabSwingers.com forum: Getting into debt

By *iamondsmiles. OP Woman
over a year ago

little house on the praire

Ive just had a letter again today saying they have upped my credit limit. I have catoluges (like next ect) that i buy stuff from but then pay the balance of when the statement arrives at the end of the month. But on these catolgues i think my limit is something like £2500 on each. I rarely use my credit card, in fact only if im buying stuff on line. If i want something big i will save up for it then buy it.

From what ive just worked out in my head, from different places ive got around £30000 credit limit. It seems scary to me that if i choose to spend up to my credit limits that i could owe £30000 by the end of the day

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

Blimey u must have a gd job and or earn loads a money!!

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By *iamondsmiles. OP Woman
over a year ago

little house on the praire

"Blimey u must have a gd job and or earn loads a money!!"

No i dont, which is why i do find it scary. I have through choice a low limit on my credit card, but they insist on upping it. I think this £30000 is about average, most places like next give you an automatic £2500 limit if your uptodate on your account

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By *iamondsmiles. OP Woman
over a year ago

little house on the praire

The £30000 isnt a credit card limit its what it comes to if i take everything into account that they give me a limit on

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

I dont have any loans/credit cards/store cards/ finance on anything

i applied for a £100 over draft one month and was declined for some reason (this was back when i was working btw)

should have taken all the loans and credit cards that were offered to me soon as i turned 18..

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By *iamondsmiles. OP Woman
over a year ago

little house on the praire

[Removed by poster at 13/04/12 13:03:12]

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By *iamondsmiles. OP Woman
over a year ago

little house on the praire

Alot of things you cant do if you dont have a credit card these days though

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

"Alot of things you cant do if you dont have a credit card these days though"

Im realizing that.. wouldn't know where's the best place to get one. Not that i need one, but a lot of people say they are handy to have

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

Ok, I know what your saying, I have had credit cards, overdrafts etc in the past for business purposes. When the goin was gd and they got paid upto date each month they would up my limits by quite a lot. In some ways I had been pretty gd and only spent what i needed too, so when the recession hit again hard couple years back I had some funds to use whilst looking for work as my business lost alot of trade very quickly, I then had to put a stop to my everyday needed spending. Luckily the banks etc where very gd and im now only paying back the several thousands Id actually spent not the tens of thousands in total upto the limits that i cdve spent over the few cards & overdrafts. But at same time I wish id used the extra money to have bought things rather than Hired them etc. So its swings and roundabouts as far as money & life is concerned.

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By *ovedupstillCouple
over a year ago

mullinwire

i was lost after my bankrupcy because i couldnt even have a debit card, let alone credit card.

i had t give my parents the money i needed to pay out so they could use thiers, still, meant i behaved myself i guess.

credit limits have NOTHING to do with income and EVERYTHING to do with the fact you pay it off.

the better payer you are, the more they will let you have, whether you struggle to meet the existing payments or not.

my oldman always used to say they will only give you money when you dont need it

absolute madness.

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

when i signed up to go back to uni to do my legal studies....handed back my credit card and changed my bank accounts.

within weeks I had been automatically accepted for a half dozen credit cards and could have gone to uni with nearly 50,000 debt capability....now that was scary

i have a severe cash flow issue just now since having to take p/t work and not being able to get a full time job, don't have a credit card, and certainly won't be getting one any time soon...if I am going to be declared bankrupt then it won't be because of those pesky little bits of plastic

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

It's scary the amount of credit that is made available to people. I currently have access to over 10 grand. Just as well I'm sensible but, can see how it can spiral out of control for a lot of people

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

CuteNSassy:-

I would recommend a Cash Plus Pre-Paid MasterCard. It costs £5. to set it up and £5. a month by D.debit. Coz Its Pre-pay, u set up a d.debit of however much u wanna kinda save up on it eg. £20. a month, £5. is monthly fee and the other £15. is yours to save up each month or spend it. So you could save what £180. a year. Its gd because it has MasterCard crudentials and can be used almost everywhere, you can use it in specific online & other shops to get cash back and earn extra money in interest. Hope that helps?

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By *ovedupstillCouple
over a year ago

mullinwire

"CuteNSassy:-

and it costs £60 a month for nothing.....

will your bank not issue you with a debit card? that way at least you get to spend what you have, and no more.

alternatively, i dont knoww if they have them in the uk, but might be worth looking into it, but Em uses whats called a 3D card.

you just top it up to the required amount, and spend it as you normally would.

no fees, except to set it up initially.

maybe google top up credit cards and see whats around

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

Its simples to apply for as only simple credit checks are needed, EG. Over 18, have a fixed address, on electoral Roll etc. no in depth credit searching because your the one paying into it, rather than the banks loaning you the money.

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

Lovedup:- Did I miswrite that post or didnt you grasp it fully? Im not sure?

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

"Alot of things you cant do if you dont have a credit card these days though

Im realizing that.. wouldn't know where's the best place to get one. Not that i need one, but a lot of people say they are handy to have"

There are pay as you g style credit cards, they are recognised as a credit card but like a debit card you must already have the money available.

Can get them from the money shop and places alike.

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

Shagaloony:- Thats what i meant lol

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By *ovedupstillCouple
over a year ago

mullinwire

"Lovedup:- Did I miswrite that post or didnt you grasp it fully? Im not sure?

no, you typed it fine, and i grasped it fine, i htink, its just the ongoing monthly charge i dont accept as right.

or rather agreeable.

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

I was once asked if I wanted a store card, but when the assistant tried to set one up for me and phoned through to the credit agency, she couldn't give me one. I have zero credit rating as I don't have anything on credit.

So if I don't owe anyone a penny I can't borrow but if I owe thousands they will let me borrow more.

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

"I was once asked if I wanted a store card, but when the assistant tried to set one up for me and phoned through to the credit agency, she couldn't give me one. I have zero credit rating as I don't have anything on credit.

So if I don't owe anyone a penny I can't borrow but if I owe thousands they will let me borrow more.

that's pretty much it

which is why i always find a reason to use my credit cards at least once a month

i am still building my credit rating back up

i have an annual budget planner so i never borrow more than i know i could afford to pay back in full within 3 months out of my salary

i do the budget thing as a result of a lesson hard learnt

i spent most of my late 20's and early 30's maxxing cards out. it then took me til i was 40 to be properly debt free

in no rush to go back there !

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By *ady n the trampCouple
over a year ago

Chudleigh

we could technicaly get around 80k if we maxed out all our cards and took every loan company for a ride. just looking for a little bar in spain at the moment.... pmsl

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

"we could technicaly get around 80k if we maxed out all our cards and took every loan company for a ride. just looking for a little bar in spain at the moment.... pmsl

if ur doing that, i'd look for somewhere with a non-extradition treaty

i believe northern cyprus is lovely

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

YEAH JUST DO IT

been there twice done it and bumped the lot . and you know the best bit all the debt letters i get theres always one sheet clean what we use to cut up in to little bits and use in our pubs lol

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