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    (Original post by Quady)
    So its ok to borrow money if you want to borrow a lot of it, but if you want to borrow a small amount of money then thats bad?

    Wouldn't houses cost less if people couldn't leverage to buy them?

    A car isn't a big purchase now? Interesting.
    well yeah i mean whats the point in puttin something like a holiday on a credit card. why not open a savings account and save up for it.

    i have no idea if houses would cost less.

    a car is not a big purchase unless your buyin a car thats like 5grand +

    save your money buy a car and then after a year and more saving buy a expensiver car and so forth.
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    (Original post by Laurah5498)
    Yep xD

    My account bod person thing is tearing his hair out over it. I had a lovely conversation with him today about it and him telling me about all the fun he had with his when he was a student.

    That's fair enough but I'm going to be eyeballed in debt and don't fancy any more!!

    LOL tell him to eff off?
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    (Original post by Dubstepper)
    i have no idea if houses would cost less.

    a car is not a big purchase unless your buyin a car thats like 5grand +

    save your money buy a car and then after a year and more saving buy a expensiver car and so forth.
    Well supply and demand, if you go from 45,000 being able to afford a hour to 100 people then the price will have to go down for people to be able to move out of the houses they want to sell.

    Ahhh ok second hand cars, I was working on new cars around 12-14k - or double in india because of the import levy
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    (Original post by Quady)
    Really? My dad didn't when we were in the US...

    And is this a 'common purchase'? You might as well have said there is a Cufflink seller called Ken from Hull who only takes credit cards as he doesn't like taking transactions where banks don't make a commission.
    Try getting the money back from a kitchen, a television, a treadmill, a diamond ring, a car, you paid for before it wents tits up.
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    (Original post by Quady)
    Well supply and demand, if you go from 45,000 being able to afford a hour to 100 people then the price will have to go down for people to be able to move out of the houses they want to sell.

    Ahhh ok second hand cars, I was working on new cars around 12-14k - or double in india because of the import levy
    ohh right yeah the cost would go down. wait im confused whats that gotta do with the point i was trynah make?

    yeh you start off one second hand cars and save and save and get a cheaper brand new car. i dont like brand new cars but thats a whole other topic lol and why we talkin bout india? lol u from india?
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    (Original post by *Star*Guitar*)
    Try getting the money back from a kitchen, a television, a treadmill, a diamond ring, a car, you paid for before it wents tits up.
    errmmmm you haven't read the thread then? I'm pro credit card (strongly)

    The question was what can you buy with a credit card that you can't buy with a debit card... so are you saying I can't buy those things with a debit card...?
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    (Original post by Dubstepper)
    ohh right yeah the cost would go down. wait im confused whats that gotta do with the point i was trynah make?

    and why we talkin bout india? lol u from india?
    You said houses had to be bought on credit because they cost so much, but they only cost so much because of the use of credit... so why is credit a good thing in the housing market but not in purchasing holidays.

    Just because its the flag on your posts and it always makes me laugh theres 100% import levy
    • CV Helper
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    CV Helper
    If you can't handle a credit card, then don't get one. Don't try and take the privilege away from everyone else because of your own limitations.

    My parents paid my tuition fees (which were 10k a year) on their credit card, and got a couple airline miles for every pound they spent... so they got a good few flights for free just from paying my tuition. I fail to see how that is a bad thing?
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    (Original post by Dubstepper)
    yeah in this report it said even if you pay it off on time the full balance not like the minimum repayments. then again they couldve been talkin bout a specific company but they dint actually mention one
    I get up to 56 days to pay off my cards before I am charged interest. I have a direct debit set up on my bank account so they always take the full balance from me (whatever that may be) so i get points/cashback but I don't pay anything to them
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    (Original post by Quady)
    You said houses had to be bought on credit because they cost so much, but they only cost so much because of the use of credit... so why is credit a good thing in the housing market but not in purchasing holidays.

    Just because its the flag on your posts and it always makes me laugh theres 100% import levy
    oooo do they i actually dont know that!!! lol you laugh at my flag :O LOL im not a freshie just an indian living in the UK
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    (Original post by Deano88)
    There are plenty of people who manage their credit cards perfectly well. Why should the actions of stupid people living beyond their means impact on everyone else.
    Precisely. They're great for managing cash-flow, for one thing. You can simply delay paying for things for a few weeks, and yet not pay a single penny to the credit-card company.
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    (Original post by Quady)
    How do you improve your credit rating without demonstrating your ability to use it?
    That's a crazy thing to say. You demonstrate your ability to be credit worthy by the way you keep your bank accounts and direct debits. If they have nothing to hold against you, then there is no reason for them to deny you credit if they feel you will be able to repay it.
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    i dont think they should be banned, i think there should be closer monitoring.. i'm 19 years old and my bank offered me a £7000 credit card!! i took £1500, how can a 19 year old ever need anymore?!
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    (Original post by Quady)
    . so are you saying I can't buy those things with a debit card...?
    No, I'm saying you aren't afforded the same protection.
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    (Original post by *Star*Guitar*)
    No, I'm saying you aren't afforded the same protection.
    ...so it had no relevance.
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    (Original post by robbo3045)
    That's a crazy thing to say. You demonstrate your ability to be credit worthy by the way you keep your bank accounts and direct debits. If they have nothing to hold against you, then there is no reason for them to deny you credit if they feel you will be able to repay it.
    Not really a crazy thing to say, thats how it works.
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    (Original post by robbo3045)
    That's a crazy thing to say. You demonstrate your ability to be credit worthy by the way you keep your bank accounts and direct debits. If they have nothing to hold against you, then there is no reason for them to deny you credit if they feel you will be able to repay it.
    Managing a bank account well won't do much to help to improve a credit firm's assessment of your credit worthiness. You do need to actually demonstrate an ability to manage credit. This is a pretty good start for some tips on building up/improving a good 'rating'.

    An extract:
    Credit scoring tries to predict your behaviour. If you've no credit history it's more difficult for lenders to do this, so you're more likely to be rejected. Therefore, both for those with poor and no credit histories, you need to build a good one.
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    (Original post by rajandkwameali)
    who is to say it's only "some" people?

    UK consumer debt is over 100% of GDP. So it's only a handful of persons who have, or are contributing to, this debt?
    The UK's public debt is around 55.6% of its GDP...
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    (Original post by evantej)
    The UK's public debt is around 55.6% of its GDP...
    Actually, that statistic at least was right: http://www.guardian.co.uk/money/2008...onsumeraffairs. As has been discussed though, that 'over 100%' figure includes mortgage debt, which is going to be a large part of the total.

    Are you looking at the same thing? The reference was to 'consumer' debt rather than 'public' debt (which usually refers to government debt).
    • Thread Starter
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    (Original post by Quady)
    Mortgage debt is many many multiples of credit card debt so why not get rid of mortgages?
    People need places to live.

    In terms of everyday purchases, few are absolute necessities like shelter.

    Besides, the fact mortgage debt is high, no matter if the debt is serviceable or not, shows how screwed up the economy was under Blair/Brown. Brown, for all of his ostensible "genius", has not sought to contain or remedy this debt.

    As for the person who says what is the right level of debt, well debt per se is not inherently good or bad. But after a time, there is a limit as to when debt is not serviceable.
 
 
 
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