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summer
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yorkshire
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02-05-2021, 06:22 AM
11

Re: Credit Score

Originally Posted by swimfeeders ->
Hi

The system is designed to get us into debt, which I think is just wrong.

Yes, I use my Credit Cards, they offer protection online.

I pay them off every month, so do not pay any interest.
Yes they make sense for protection...I do have one now Swimmy but no idea what my credit rating is.
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Lindyloo
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isle of wight
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02-05-2021, 07:17 AM
12

Re: Credit Score

Originally Posted by summer ->
Yes they make sense for protection...I do have one now Swimmy but no idea what my credit rating is.
If you ever find that there's been a data breach for a company/website on which some of your details have been registered, it's important to register with a company which can show your credit rating. Check the rating every day or so for a month - Equifax is free for one month - if the rating changes, you'll know that someone has applied for a loan in your name, probably using the information stolen from the breached database.
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02-05-2021, 07:28 AM
13

Re: Credit Score

Originally Posted by swimfeeders ->
Hi

The system is designed to get us into debt, which I think is just wrong.

Yes, I use my Credit Cards, they offer protection online.

I pay them off every month, so do not pay any interest.
Yes, that is a known but what is the advantage of knowing your credit rating?
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Percy Vere
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Wilds and woolly wastes of Staffordshire, UK
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03-05-2021, 03:49 PM
14

Re: Credit Score

I checked our credit ratings soon after moving into this bungalow. Both of us had almost the highest rating possible, prolly because we always pay off our credit cards in full every month and we have no outstanding loans of any description.
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Lindyloo
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isle of wight
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03-05-2021, 04:08 PM
15

Re: Credit Score

Originally Posted by Percy Vere ->
I checked our credit ratings soon after moving into this bungalow. Both of us had almost the highest rating possible, prolly because we always pay off our credit cards in full every month and we have no outstanding loans of any description.
Yes - I'm the same. It's knowing your credit rating so IF you get a notification that your details may have been taken from a website which has suffered a data breach, you can check your credit rating again which will reassure you if there's no change and alert you if there has been a change.
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God's own county!
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03-05-2021, 04:13 PM
16

Re: Credit Score

I don't - and won't - own a credit card, just a debit card which I use to draw cash for shopping or to buy things on line.
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Lindyloo
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isle of wight
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03-05-2021, 04:23 PM
17

Re: Credit Score

Originally Posted by Silver Tabby ->
I don't - and won't - own a credit card, just a debit card which I use to draw cash for shopping or to buy things on line.
A credit card on which the balance is paid off each month doesn't affect a credit rating and using a credit card provides extra protection against fraud.

https://clark.com/personal-finance-c...ebit-card-pay/
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03-05-2021, 04:56 PM
18

Re: Credit Score

I am a dinosaur - I still prefer cash!
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Northamptonshire
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03-05-2021, 04:59 PM
19

Re: Credit Score

Originally Posted by Silver Tabby ->
I am a dinosaur - I still prefer cash!


Tabs, we are both dinosaurs then. Pleased to meet you.


I only use a debit card or cash too.
Never used a credit card in my life.
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Scotland, UK
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03-05-2021, 05:03 PM
20

Re: Credit Score

Same here! Years ago I used a Store card to get some big things for the house and paid it off, but my gosh the interest rates on that were extortionate! Never used it again, bloomin' loan sharks it seemed like!
 
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