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pmsumner at 03:29pm on 06/01/2003
pmsumner at 03:29pm on 06/01/2003I have an application all filled out, and being sent away to the bank (Royal Bank of Scotland) for a loan through a broker. £5,000 over 7yrs. Repayments of just under £100 a month. Hopefully this will help me. My plans for the money? First and most importantly is the other loan, my Barclays Graduate loan. Secondly, is credit cards. Thirdly, with anything left over, overdraught.
This may be a long-term solution to a short term problem, but I needed a solution, and anything short of a pay rise or loan just isn't going to cut it. So, hopefully within a week I'll have some cash floating around my account, and my debt shall be consolidated! Yay.
I cut up my Mastercard the other day. haven't actually USED it in months for anything, but still, if I'm paying it off I don't want to run it back up again. Don't know whether to cut up my Visa too, as the balance (and credit limit) on that is really low, and I'll pay off a bit more with this loan and get the limit reduced again. It's always useful to have a card around if you really need it, you know?
This may be a long-term solution to a short term problem, but I needed a solution, and anything short of a pay rise or loan just isn't going to cut it. So, hopefully within a week I'll have some cash floating around my account, and my debt shall be consolidated! Yay.
I cut up my Mastercard the other day. haven't actually USED it in months for anything, but still, if I'm paying it off I don't want to run it back up again. Don't know whether to cut up my Visa too, as the balance (and credit limit) on that is really low, and I'll pay off a bit more with this loan and get the limit reduced again. It's always useful to have a card around if you really need it, you know?
nervous
(no subject)
I think your idea to keep the Visa available is a good one. I don't know what lowering your limit will do to your credit rating, though. I've no clue about these sort of things.
I do know that keeping a card open, charging things to it, and paying those items off right away does a great deal of good for one's credit rating. Something to keep in mind if you're toying with the idea of a mortgage.
Then again, I only know about how this works in the States. I'd imagine it's not much different in the UK.
(no subject)
Besides, I've plenty of other credit rating sources. Grad loan, bank accounts, 4yrs worth of bank accounts and credit cards. Mobile phone bills and utilities.