521–530 of 534 posts
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Also BoJo is no centrist. He's spearheaded Brexit (some allege his buddies made bank by arbitraging currency futures pre/post vote), and he's been coordinating with Farage for a long time.
I can't fathom why you'd think I was alluding to BoJo as the centrist in the story.
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That's odd, I got a mortgage approved at 19yrs old, in the UK, with no credit usage/history whatsoever. I had a credit card but I'd held it for about 3 months at the time, and have never used it to this day. Only since then have I actually had anything on my credit report (monthly broadband payment, phone contract, monthly car insurance payment because I didn't want to keep paying the whole 3k up front every year aft…
What was the loan to value though?
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Amen. The great British public still have their heads in the sand in the wake of lorry driver shortages, nursing staff shortages and doctor shortages. You have to laugh or tear your hair out when the Home Office offers a 3-month reprieve hoping to lure exiled EU workers back to the UK.
Polls have shown that a majority of "the great British public" now believe Brexit was a mistake, so I don't think it is fair to say they "still have their heads in the sand."
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Until the Tories and nationalists that pushed Brexit face consequences, you can still argue the public has their head in the sand.
I'm not British but I follow your politics and with the quality of Labour candidates you guys dredge up it's no wonder people keep voting Tory.
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Majority of hotels around Europe don't accept it, same with restaurants, small business, shops.. there is not a single reason to own one in Europe, even with cashback (cashback to what actually, since i cannot use it anywhere)
I've travelled around the UK, Ireland, France, Spain, Italy and almost exclusively used my Amex over the last 5 or so years. > Majority of hotels around Europe don't accept it, same with restaurants, small business, shops I completely disagree. Almost every restaurant, hotel, cafe takes it. All major airlines accept them, the major train operators accept them, the major hotel booking sites and airbnb both accept it.…
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Which demonstrates that you in fact are bad with money, so the system is working as intended. If you don't trust yourself with day-to-day spending, why should a lender trust you with a loan representing months or years of income?
Oof.... OK mate. Keeping an eye on my spending and borrowing on a daily basis is now a negative? I assume you sit in the same camp that thinks i can afford £1400 monthly rent for 5 years but not an £800 mortgage yeah?
You are aware that interest rates have been incredibly low for years? They have to go up to keep a lid on inflation, and the BoE needs to be able to do that without worrying about mortgage borrowers being overstretched.
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> Never owned a credit card, don't have the slightest wish to do so. Bizarrely, never owning a credit card will negatively impact your credit rating.
The way this works in the US is nuts. I had to get a parent to co-sign the loan for my first car (or else they wouldn't lend me money at any rate), but then I spent a year paying a monthly fee to borrow my own money with a "secured credit card" and instantly I'm good for 40 grand, apparently.
If you got approved for $40k, there's something else funny going on.
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I think this is being misstated by GP. It isn't that a lack of credit card hurts your credit rating, but that a lack of any credit hurts your credit rating in Canada or the US. There are other ways to get an initial credit rating than a credit card, although I agree that this is the path most easy, and chosen by many to get that first rating. The method I employed, was to buy a car and had a parent cosign. I made all…
Not only this, but getting a credit card and not using it can cause an issue for your credit, so it's better to setup direct debits and other forms of credit than it is to get a card you never use.
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Not only this, but getting a credit card and not using it can cause an issue for your credit, so it's better to setup direct debits and other forms of credit than it is to get a card you never use.
Citation needed. In the US anyways, a low utilization rate is actually a (minor) good thing for your score.
That aside, I didn't say low utilisation, I said no utilisation. This has a good chance of your card being cancelled by the card issuer, which has a negative effect on your credit.
Bottom line is, unless you plan to use the card, there are better methods of increasing your credit score, so it's not a good idea to get one.
Has anyone successfully nationalised/regulated into sanity this business? It's 2021, buying stuff should involve neither precious metals nor weird faceless financial cooperatives owned by private banks.
Brazil has a pretty successful system in place. The only reason I still use credit cards anymore are aggressive cashback policies. For everything I can do with PIX I'm more than likely to choose it nowadays.