Credit, where do I start?
Discussion
Hi all,
I have decided that I need to get hold of some new lenses for my camera but can't afford it all in one pop. I sell finance for a living (sell it on behalf of Barclays and we don't get that in-depth with it) and know how hard it can be to get and I would prefer the flexibility of a card.
I have been looking around but I am so confused! I don't understand any of what I am reading or what would be the best card for me.
As I said I want to buy two new lenses up to about £700 and I can quite happily pay it off every month no worries and I have found the Tesco card offers me 15 months interest free, brilliant or is it?
Then I found this, https://www.google.com/comparisonads/ukcredit?bsp&... and I don't understand. Some offer X amount of months free and some offer 0% interest rate and others offer 2.3% balance transfer and things like that.
Could someone help me digest it all please.
I keep looking at going on experian for the 30 days trial but after 30days how easy is it to stop there? I know with these things free is never free.
I have decided that I need to get hold of some new lenses for my camera but can't afford it all in one pop. I sell finance for a living (sell it on behalf of Barclays and we don't get that in-depth with it) and know how hard it can be to get and I would prefer the flexibility of a card.
I have been looking around but I am so confused! I don't understand any of what I am reading or what would be the best card for me.
As I said I want to buy two new lenses up to about £700 and I can quite happily pay it off every month no worries and I have found the Tesco card offers me 15 months interest free, brilliant or is it?
Then I found this, https://www.google.com/comparisonads/ukcredit?bsp&... and I don't understand. Some offer X amount of months free and some offer 0% interest rate and others offer 2.3% balance transfer and things like that.
Could someone help me digest it all please.
I keep looking at going on experian for the 30 days trial but after 30days how easy is it to stop there? I know with these things free is never free.
no comment said:
You sell finance on behalf of Barclays for a living, yet do not understand credit card terms (which, under legislation, have to be simple enough for pond life to interpret)? 
Well TBH I thought it would be easy enough to interpret but I am getting lost in the jargon. Words that I haven't seen before or understand the usage. As I said, I need help, not a snide comment.DamianBPhoto said:
no comment said:
You sell finance on behalf of Barclays for a living, yet do not understand credit card terms (which, under legislation, have to be simple enough for pond life to interpret)?
Well TBH I thought it would be easy enough to interpret but I am getting lost in the jargon. Words that I haven't seen before or understand the usage. As I said, I need help, not a snide comment.
What, pray tell, can you not understand? APR? Balance transfer rates? Fees? Introductory offers? Cashback incentives? They are all pretty simple terms, written in plain English so that the credit providor cannot be sued by some pond life 'tard for providing misleading information.
ETA - you left yourself open to comment given that you claim to sell finance on behalf of a high street bank. In what capacity do you do this, given the requirements for training and product knowledge required by Barclays?
Edited by no comment on Monday 16th May 23:53
Mr POD said:
Let me explain CREDIT.
Credit is for people who were not taught to save up, for the things they want in life, for those that haven't got a back up plan for when things go wrong, and is the reason why the country is in the state it's in.
Might I respectfully suggest that you save up.
I would quite happily save up for it and buy it all in one go, I would prefer it that way TBH. I go by the motto in life never a lender never a borrower. Credit is for people who were not taught to save up, for the things they want in life, for those that haven't got a back up plan for when things go wrong, and is the reason why the country is in the state it's in.
Might I respectfully suggest that you save up.
But, as you quite clearly said "reason why the country is in the state it's in" there is no extra money around where I work and so for me to save up for it will take me well into next year and since this is for my side business, photography, I would quite like to be able to have the lenses now and use them through the summer and gain the money to pay them back off/buy new lenses without credit.
DamianBPhoto said:
I would quite happily save up for it and buy it all in one go, I would prefer it that way TBH. I go by the motto in life never a lender never a borrower.
But, as you quite clearly said "reason why the country is in the state it's in" there is no extra money around where I work and so for me to save up for it will take me well into next year and since this is for my side business, photography, I would quite like to be able to have the lenses now and use them through the summer and gain the money to pay them back off/buy new lenses without credit.
Have you thought about dragons den ? But, as you quite clearly said "reason why the country is in the state it's in" there is no extra money around where I work and so for me to save up for it will take me well into next year and since this is for my side business, photography, I would quite like to be able to have the lenses now and use them through the summer and gain the money to pay them back off/buy new lenses without credit.
Seriously I can see you have a good idea for money making, but I would explore ways of obtaining the same functionality without as much credit. Maybe second hand ?
Mr POD said:
Have you thought about dragons den ?
Seriously I can see you have a good idea for money making, but I would explore ways of obtaining the same functionality without as much credit. Maybe second hand ?
Well funny you say that, I have an idea for Dragons den with Diablo_pete Seriously I can see you have a good idea for money making, but I would explore ways of obtaining the same functionality without as much credit. Maybe second hand ?
Il see if I can chuck that in there as well. Probaly want 90% equity.I have, credit really is the last resort. I have been trying to build up the funds for the past year and a half? But something always comes in the way, so savings don't always go where I want them to. But, I do have an X amount each month of my pay that could pay that amount off for me within a 10 - 15 month window. Also would help when getting a house or a flat with the GF.
As for second hand... Thats why I wan't the card rather than credit so I can buy second hand but you are still looking at £200 plus per lens.
no comment said:
A snide comment would have ended with something along the lines of "you tard"
What, pray tell, can you not understand? APR? Balance transfer rates? Fees? Introductory offers? Cashback incentives? They are all pretty simple terms, written in plain English so that the credit providor cannot be sued by some pond life 'tard for providing misleading information.
ETA - you left yourself open to comment given that you claim to sell finance on behalf of a high street bank. In what capacity do you do this, given the requirements for training and product knowledge required by Barclays?
Well what I wanted to know is what is a transfer rate and how will it affect me.What, pray tell, can you not understand? APR? Balance transfer rates? Fees? Introductory offers? Cashback incentives? They are all pretty simple terms, written in plain English so that the credit providor cannot be sued by some pond life 'tard for providing misleading information.
ETA - you left yourself open to comment given that you claim to sell finance on behalf of a high street bank. In what capacity do you do this, given the requirements for training and product knowledge required by Barclays?
Edited by no comment on Monday 16th May 23:53
Are all introductory offers actually as good as what they say or is there hidden pit falls ( probably based on the card)
Things like that ideally. Just really wanted a bit of advice on what to look out for and what not todo as regards to it all.
Its pretty simple...
Are you over 18?
Do you have two forms of ID?
What finance option would you like?
Please sign here, here and here.
Here are your goods.
BTW I should stress it's a side part of my job, not the main job itself.
Have you had much credit before?
Are you on the electoral role?
Marks & Spencers are doing a 15 month no interest period I believe at the moment.
Get over to MoneySavingExpert to the credit card section and read a few threads.
Will give you a basic idea on what experiences people have had with credit, examples of why you shouldn't fall out of the 'no interest period' and other various experiences.
Are you on the electoral role?
Marks & Spencers are doing a 15 month no interest period I believe at the moment.
Get over to MoneySavingExpert to the credit card section and read a few threads.
Will give you a basic idea on what experiences people have had with credit, examples of why you shouldn't fall out of the 'no interest period' and other various experiences.
I'd add that, given the number of people who 'impulse buy' on credit (like, for instance, someone who suddenly decides they need to spend £700 on some camera equipment), credit should be a considered choice, with a delay from 'want' to 'have' of a period long enough for reality to be checked.
DamianBPhoto said:
Well what I wanted to know is what is a transfer rate and how will it affect me.
Are all introductory offers actually as good as what they say or is there hidden pit falls ( probably based on the card)
Things like that ideally. Just really wanted a bit of advice on what to look out for and what not todo as regards to it all.
Transfer rate is for when you are transferring the balance of one credit card to another. Since you don't have a credit card which you owe money on - it doesn't affect you.Are all introductory offers actually as good as what they say or is there hidden pit falls ( probably based on the card)
Things like that ideally. Just really wanted a bit of advice on what to look out for and what not todo as regards to it all.
The Tesco one you mentioned with 15 months interest free period sounds OK...you'll get clubcard points with it as well. These are only useful if you shop in Tescos.
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