Reccommend me a loan or similar please.

[kinny]

I don't have a bad credit score, just no credit rating and would like a small loan to blow on a decent kite quiver to enjoy for the next 4 months until i head off to the army.

 

Bottom line the bank have said no to both a loan and credit card because i have no real credit history.

 

What's the best way, if any, to get a loan without being raped for re- payments other than the bank?

 

Failing that do any kite shops sell stuff on finance?

 

Cheers all.

[JohnDave]

Based on the current financial status don't get a loan out, particularly if you're buying kites which will devalue loads in no time. Banks are not lending at the moment, particularly to people with no history, as they are crapping them selves about losing money.

[wenglish]

thats not strictly true, it is harder to get your foot on teh ladder but you would be surprised what will bump up your credti score.

 

call lloyds tsb, they work with loans direct, barclays have barcly loan and there are other options. there is or was one shop that did a hp system but i carnt remember which one.

 

lloyds number is 08453000000, open 24 7 best to call between 8am and 10pm to get through the the loans team and not just a specialist advisor who can also do loans.

[avspider]

Save up

[djstrauss281]

thats not strictly true, it is harder to get your foot on teh ladder but you would be surprised what will bump up your credti score.

 

call lloyds tsb, they work with loans direct, barclays have barcly loan and there are other options. there is or was one shop that did a hp system but i carnt remember which one.

 

lloyds number is 08453000000, open 24 7 best to call between 8am and 10pm to get through the the loans team and not just a specialist advisor who can also do loans.

 

lol doubt lloyds will help seeing as they have pretty much almost gone under and needed the government to bail them out. try egg.com or capital one. they dont do credit checks like banks do, they have their own point system

[Morb]

I think pks, amongst others, do credit.

 

 

 

 

 

[andrew peter]

save ,save ,save dude ,or sale xbox hehe oh nooooooooo not his xbox hehe

 

why not see if any where does credit for kite instead of loan .think dan the machintosh got his first kite like that .not sure how much intrest you would have to pay back

 

andy

[Shick]

I'm pretty sure airboss do some sort o credit

 

Cheers

[thegman89]

powerkiteshop.com used to - not sur if they still do

[Kiteboyza]

get a 0% credit card and make sure you pay it off though, some do 0% for a year, have a looky...this will also give you credit history

[bubbawillums]

Dont go down the loan or credit card route mate... it will mess u up in the long run!

[br3n]

I dont agree, if he gets a 0% credit card and pays back before the interest kicks in he's got a good deal and built his credit rating - probably a good/necersary thing in the future.

 

If not money supermarket compare loans etc, but never used them.

[kinny]

cheers all

[darrylpretorius]

ROHO do 12 months intrest free credit on purchases over £400.

But it would definatly be worth going for a 0% credit card.

I went with "first choice" and got 15 monthes interset free.

Be good for your credit rating aswell.

[kinny]

I have been accepted for one CC, anyone care to have a look at the details and give further adbice? Ive not signed it yet though so ill hang tight as i think it may be pretty crappy tbh?

 

CREDIT CARD AGREEMENT REGULATED BY THE CONSUMER CREDIT ACT 1974

 

Mr xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxx xxxxxxxxxxx xxxxx

 

Between us, Capital One Bank (Europe) plc of Trent House, Station Street, Nottingham, NG2 3HX and you, the Customer named above on the terms and conditions set out below and overleaf.

KEY FINANCIAL INFORMATION

Credit Limit:

The credit limit will be determined by us from time to time under this agreement and notice of it will be given by us to you.

 

Monthly Payments:

Monthly payments are due by the date stated in the statement, a date usually 26 days after the statement date.

The monthly payment is an amount equal to at least 5% of the outstanding balance from time to time, shown in your statement or £5, whichever is greater.

 

APR:

34.9% APR variable (See assumptions under 'Total charge for credit' below)

OTHER FINANCIAL INFORMATION

Interest Rate

 

Standard Interest Rate

 

The standard rates of interest that we will charge you are:

 

Standard purchases rate: an effective rate of 34.94% p.a. (variable), from the date of purchase until repayment. No interest is payable if you pay in full the outstanding balance on your first statement by its payment due date. No interest is payable on subsequent statements if the outstanding balances on your current statement and the previous statement are paid in full by their respective payment due dates.

 

Standard balance transfers rate: an effective rate of 34.94% p.a. (variable) until repayment.

 

Standard cash withdrawals rate: an effective rate of 34.94% p.a. (variable) from the date of withdrawal until repayment.

 

 

Promotional Interest Rate

 

Where we have granted, under section 12 of this agreement, a promotional interest rate we will charge interest on each promotional transaction at the effective rate which we notify you of prior to you making the promotional transaction. Such promotional interest rate will apply either until the promotional transaction has been paid off or for a specified period which we will tell you of, after which interest will be charged at the standard purchases rate, standard balance transfers rate or standard cash withdrawals rate whichever is applicable to each promotional transaction made on the account.

 

Interest is calculated at the applicable rate below, divided by 365 or 366, and multiplied by the total of the daily outstanding balances in the statement period.

 

The applicable rate per annum for purchases is 30.34% (variable)

The applicable rate per annum for balance transfers is 30.34% (variable)

The applicable rate per annum for cash withdrawals is 30.34% (variable)

 

If you incur a default sum (see Key Information - Default Sums below) then interest will be calculated from the 29th day after you have been given a Notice of Default Sums until repayment. Any interest payable on the outstanding amount will be calculated at 30.34% p.a. (variable). Interest on default sums will be calculated on a simple basis.

 

Interest is calculated from the date of the transaction or incurring of a fee, charge or expense, until the outstanding balance has been paid in full, with the exception that if you incur any default sums then interest will be calculated from the 29th day after you have been given a Notice of Default Sums.

 

Interest is applied to your account monthly on each statement date (or on a monthly date notified to you where no statement is issued - see section 9).

 

Total charge for credit:

 

To give you an example of the cost of borrowing at the time this agreement is made: if you borrowed up to your credit limit (or if we don't know your credit limit if you were to borrow £1500); repaid it over one year in twelve equal monthly instalments and were charged at the purchase rate, the total charge for Credit is £257.78

made up of interest in the sum of :

£257.78

 

 

APR:

 

In calculating the APR no account has been taken of any variation which may occur under the agreement of the rate or amount of any item entering into that calculation. Such a variation will occur if we, at our discretion, for any valid reason change the interest rate or add or change any charge or fee included, or to be included, in the total charge for credit. We will give you at least 7 days' prior written notice of any decrease, and at least 30 days' prior written notice of any increase, in the interest rate or of any charge or fee. (See section 19).

 

Allocation of your payments:

 

Unless you pay the outstanding balance in full, we will allocate your payments under the agreement in the following category order:

(a)

fees, charges and expenses

(b)

interest

©

Payment Protection Insurance

(d)

transactions

 

The balances in each category will be repaid according to the interest rate that relates to them:

(i)

first (a) any promotional transactions made; and (b) any balances transferred during an initial period which have a separate interest rate for the life of the balance, where your payments will be allocated to balances which attract the lowest interest rate first;

(ii)

then standard rates, where your payments will be allocated to balance transfers, then purchases, then cash withdrawals.

 

We will always allocate your payments to any amounts which have already appeared on a statement before allocating your payments to any amounts subsequently applied to your account.

 

KEY INFORMATION

Default Sums: (all variable) (see sections 11 and 13)

Late or failure to pay default sum

£12

Returned payment default sum

£12

Overlimit default sum

£12

Returned credit card cheque default sum

£ 12.00

Our reasonable court costs and expenses for collection,including tracing and retrieving cards

Other Charges (all variable)

 

See 'Current Amounts of Other Charges and Other Features' below and sections 11, 12, 13 and 18 for other charges which may be payable under this agreement.

MISSING PAYMENTS

Missing payments could have severe consequences and make obtaining credit more difficult.

 

IMPORTANT - READ THIS CAREFULLY TO FIND OUT ABOUT YOUR RIGHTS

The Consumer Credit Act 1974 lays down certain requirements for your protection which should have been complied with when this agreement was made. If they were not, we cannot enforce this agreement without getting a court order.

The Act also gives you a number of rights:

1)

You can settle this agreement at any time by giving notice in writing and paying off the amount you owe under the agreement.

2)

If you received unsatisfactory goods or services paid for under this agreement, apart from any bought with a cash loan, you may have a right to sue the supplier, us or both.

3)

If the contract is not fulfilled, perhaps because the supplier has gone out of business, you may still be able to sue us.

 

 

If you would like to know more about your rights under the Act, contact either your local Trading Standards Department or your nearest Citizens' Advice Bureau.

 

THEFT, LOSS OR MISUSE OF CARD

If your card is lost, stolen or misused by someone without your permission, you may have to pay up to £50 of any loss to us. If it is misused with your permission you will probably be liable for ALL losses. You will not be liable to us for losses which take place after you have told us about the theft, etc as long as you confirm this in writing within seven days.

 

This is a Credit Agreement regulated by the Consumer Credit Act 1974.

Sign it only if you want to be legally bound by its terms.

First Name

Surname

[craig.w1599968638]

i got that capital one card, its the credit builder one.

Ive had no troubles with it, i was in the same boat as you, i had good credit but no credit history, ive had that capital one card for a year now, credit limits doubled every 6 months....... i also got the vanquish credit builder card to do the same, i only use them both little a month and pay off right away.

 

Another way to do it is get one of the pre pay master cards, they charge a small fee a year to use it, but no huge interest as you have to top up the card first before....the handy thing (if you want) is they will set that yearly charge up into an interest fee loan spread over the year (works out less than a fiver a month) at the end of the year they then inform the credit agencies that you have successfully paid a loan off.... that does wonders for your credit

[kinny]

cheers craig, im thinking if i get that card (or similar) and use it to buy a nice kite to see me through the winter, maybe a board too if its the right price and then pay that off over the next 4/5 months will that work out ok or would it end up being pointless due to monthly charges,

 

Can someone explain in laymans terms the deal with CC's.

Im thinking maybe £600 spend on toys then pay that off over 4/5 months, is this feasable or self defeating?

[Morgan]

CC = You buy stuff through the credit card then pay back by the looks of it 34% interest per year so about 3% a month so if you spend £600 you'll probably pay about £60 interest over the 3-5 months you pay it off.

 

 

Or you could get 2 credit cards, 1 with interest free on balance transfers for XX months and then buy your stuff on the first one and immediately bounce it onto the 2nd one that way you don't pay any interest and the balance fee is alot less then the interest, i did this last year and just bounce the remaining balance to a new credit card when it comes close to the end of the Free balance transfer period, im on my 3rd cc now .

[kinny]

sounds pretty much what im after tbh, my main fear is getting one, buying some kite releated gear then being shafted on the monthly replayments due to me not reading the fine print.

 

I'll check around and hopefully get some more advice before actually taking the plunge!

 

Cheers again all

[foggyblackpool]

Now for the important question.

 

Youve got £600 in your hand.....What kites ya gonna get!

[kinny]

something around the 10m size for the 25mph + days and a decent 2nd hand board methinks!

[festa]

I don't have a bad credit score, just no credit rating and would like a small loan to blow on a decent kite quiver to enjoy for the next 4 months until i head off to the army.

 

Bottom line the bank have said no to both a loan and credit card because i have no real credit history.

 

What's the best way, if any, to get a loan without being raped for re- payments other than the bank?

 

Failing that do any kite shops sell stuff on finance?

 

Cheers all.

 

get your self od then they'll lend you the money too pay it off in order to save money

then again now we the public ownthe banks it was on the under standing that they start lending money again by the government so try um again but tell them its for a new car to get you back and for to work as your old one is beyond ecconomical repair

 

 

 

good luck you loon

[festa]

the new car for work always works for me

you could tell them to mind their own but you want the loan !!!!!!!!!

[kitegirl]

34.9% APR :eek:

[wenglish]

lol doubt lloyds will help seeing as they have pretty much almost gone under and needed the government to bail them out. try egg.com or capital one. they dont do credit checks like banks do, they have their own point system

 

just spent today in work, i noticed no diffrence in the amount of customers able to get lending, perhaps some of the riskier customers arnt able to get credit now but if you have been looking after your accounts and not accrued any bad credit in the past then it wont effect you..

 

and lloyds took the money to streghten them not as a bail out, they have bought HBOS to save them from going down the pan, and are the only bank in teh uk with a triple A rateing. ranked the 6th safest bank in teh world, they are the safest bank in the uk.

 

but thats just a few facts dont let what the papers say make you think any diffrent eh?