The STOKE thread
Stoked that I now have a British passport. It’s so cool, held together by string lol 
stoked i now have a credit card look out world hahah
For how long Lachillingworth.
If it’s your first ever cc I hope you have a low limit. Credit Cards are evil.
agreed. Especially with the emergence of Visa/Mastercard debit cards, the need for credit cards has evaporated.
Some people will try to tell you that you need one and it is good to have as an emergency back up. I’m 31 and never had one, and never needed one. If you have half a brain and aren’t silly with your money, you need only ever pay for something with money you already have.
Can’t get credit without having had credit.
I know of a couple of people who had more of a deposit than I did for a mortgage and were denied. Due to never having had credit.
If you have half a brain Lach, you won’t be silly with it!
Not so sure about that oz.
Bad credit will prevent you getting a loan/credit approval.
If you have stable, long term employment and a little debt that goes toward getting approval.
I’ve pointed out to loan managers that I’ve paid off many loans and all my credit cards have never been abused. The response I get is that they don’t look into that and there is no recognised register even if they wanted to. They just can’t track that sort of credit rating unless it was with their institution - but even then it’s not a considered factor.
Whereas bad credit goes on a national register as does outstanding credit and to a degree late payments.
I will admit that the bank looks more favourable on someone with debts being paid off than those without. So I guess a cc is a debt being paid off even if it’s up to date. It’s also somewhere they know you can draw money from to keep their payments on time.
Bad credit will prevent you but yes good credit helps.
Spaz have you ever seen your credit report? It has every line of credit on there. I am confused by what you were told in your post above.
I worked in a temp job where I had to do the odd credit check on a lawyers LOL. this is the company i had to use who also allow you to get a copy of your own record. http://www.veda.com.au/personal/my-credit-file.dot
re credit cards what they don’t know is how much is charged on there (eg they can see you have a $10k line of credit but can’t see that you have $8k currently charged). which is why they ask you what is the balance on the application form you fill out when applying for other credit.
For a home loan or car loan etc, the amount you borrowed is shown. and “loan” is required to be reported when it is paid off in full. Credit cards are to be reported when you close it.
If you are late or miss a payment or two that does not go on you credit rating.
Only a default gets recorded. which you are advised of via a letter and are given an opportunity to attempt to fix the debt (or set up a payment plan) before they record the Default.
Bills phone, electricity etc are also shown when you default. They are looked upon when applying for a home loan which is why it is a good idea to volunteer to be a name on a bill when living in a share house.
The two people i know who were denied one was still living at home (so only ever had a mobile phone bill) and the other in share houses also with no name against a bill.
I also get points for using my credit card. So there are some positives 
Yep! I went to Africa on ff pts!
And Japan twice
& Possibly sochi!
More points earnt from paying for things than flying!
Stoked my new helmet showed up!
Ordered it on Monday. Well done Rhythm!
Stoked my new helmet showed up!
Ordered it on Monday. Well done Rhythm!
sweet Kim…
Stoked my new helmet showed up!
Ordered it on Monday. Well done Rhythm!
Your helmet was in the Transfer magazine 2013 gear guide
I think 2013 is slightly different to the one i got.
Annoyingly the one I got has a sticker on it saying best compatibility with Roxy Mist goggles. A lot of places seem to be sold out on them.
Will check Rhythm on the LWE
agreed. Especially with the emergence of Visa/Mastercard debit cards, the need for credit cards has evaporated.
Credit cards can be evil, however I wouldn’t say the need for them has evaporated. I applied for a 5 month interest free credit card when I came back from Perisher. I needed it because otherwise I would not have been able to pay for my rent/petrol/food. The other option would have been to move back with the parents but I couldn’t get out of the lease at that time. I also knew that eventually my work would start picking up and when that happens I could pay it off which I did.
I also used it to pay for my current uni course which required an $800 upfront payment. Money I didn’t have.
Now that I am above board with all that I use it to buy most things and transfer the money from my savings account onto the credit card after I have earned interest on the savings account. By having my salary sitting in my savings account for longer I get more interest.
BUT you have to be careful not to overspend if you’re doing that method
budget budget budget lol.
For how long Lachillingworth.
If it’s your first ever cc I hope you have a low limit. Credit Cards are evil.
Yes it is a small one. $2000 especially due to my third year apprentice wages haha. Just got it mainly because at the moment 5 months interest free and to use for cashies for my work. And to be down the snow haha