JoelP
|
| posted on 18/2/04 at 10:11 PM |
|
|
Interest free loans...
Just in case anyone is bothered, i though id share a 'trick' to get around a grand interest free. you need a current credit card and an ok
rating.
apply for one of the cards that offers 0% on balance transfers, marbles.com is the one i used, transfer a large sum to your current card, and this is
the good bit cos it seems to me you can transfer more than the balance! So then ring up your original card company and ask for the credit balance to
be refunded to your current account. When the interest free period expires (october for me) just do another balance transfer to another new card.
but remember to pay the minimum each month (direct debit is easier) or they will have you trousers down...
then either invest the money in the project, or get a good savings account. i know, its only £20 interest in 6 months but free money always spends
better than the hard earnt variety...
|
|
|
|
|
greggors84
|
| posted on 19/2/04 at 03:29 AM |
|
|
i love my student bank account, £1250 intrest free.
The alchohol keeps the worry of the impending debt at bay!
And whats with your avatar joel?
Chris
The Magnificent 7!
|
|
|
mangogrooveworkshop
|
| posted on 19/2/04 at 07:41 AM |
|
|
What bank is that? Bank of Scotland to us to go jump when we had a period of student life.
|
|
|
200mph
|
| posted on 19/2/04 at 09:43 AM |
|
|
The Royal Bank of Scotland throw money at you as a student hoping that when you graduate and become a big bux earner (yeah right) you will give lots
of money back to them.
every time I went to put money in, or anything that involved going into the branch they were offering me a credit card or a higher overdraft or
something.
No wonder they make so much damn money ( £7 million a day anyone?)
mark
|
|
|
greggors84
|
| posted on 19/2/04 at 01:54 PM |
|
|
Most banks offered me interest free overdrafts, just went with Abbey national as i have always been with them and you got £50 cash when you set it up
instead of vouchers. Ive always wondered how many accounts i could set up at different banks, but dont want to get into that much debt really!
Also it goes up by £250 every year, my mate is on £2000 but i think he is at a different bank. I doubt i would ever reach that, just means got to
work more over the holidays and less time spent on the car!
Chris
The Magnificent 7!
|
|
|
200mph
|
| posted on 19/2/04 at 02:07 PM |
|
|
well this is where you can be sneaky!!
similar idea to JoelP.
Interest free overdaft of £2000...stick that 2k in an ISA, and earn interest on money you dont have!!
I even have mine with the same branch and they dont mind
laughing all the way to the bank
Mark
|
|
|
flyingkiwi
|
| posted on 19/2/04 at 02:30 PM |
|
|
You students have it easy!
Was up in St Andrews last week, hanging out with Prince William, and saw one of the wierdest thing ever, some posh student buying a Turkish Compass
(kebab) with his credit card! The guy carving the cow's eyebrows looked offended when I tried to pay cash.
St Andrew's is a wierd place, all those drink dependant students, with daddies credit card, and no night club. Go figure?
Chris
(A still rather hung over squib)
It Runs!!!!! Bring on the SVA!
|
|
|
JoelP
|
| posted on 19/2/04 at 03:41 PM |
|
|
quote:
Originally posted by greggors84
And whats with your avatar joel?
subliminal messaging. Anyone started shouting 'Blood for the blood god' yet?!
|
|
|
Jasper
|
| posted on 21/2/04 at 12:19 PM |
|
|
Been doing that with credit cards for about 5 years now. Borrowed £5k for my wedding, paid off about £100 a month, swapped cards everytime the
interest free period was up, never paid a penny interest. All paid off now, but about to start again with first home buying costs....
|
|
|
suparuss
|
| posted on 21/2/04 at 12:49 PM |
|
|
dont forget everytime you apply for a credit card/loan/mortgage etc they do a credit check and every credit check gets recorded, and the more checks
there are the worse your history looks.
it used to be that way any way, theyll give money to anybody these days, thats why the interest rates are going up isnt it? cos there is so much debt.
probably 80% of the country owes 3 grand on their credit card at 0% interest! 
|
|
|
Jasper
|
| posted on 21/2/04 at 01:40 PM |
|
|
My credit allowance has gone up, and I'll just got a mortgage with an excellent credit rating - so no probs this end!
|
|
|
200mph
|
| posted on 22/2/04 at 02:36 PM |
|
|
<<student, so thought I would have zero rating. But applied for car loan when I was bored, and they offered me £5k no questions.
the more money the hand out, the more they get back with healthy interest.
I fancy a fight-club style erdication of debt.
|
|
|
