GeneralCREDIT CARD...helpPosted:

Oleeee_MU
  • New Member
Status: Offline
Joined: Nov 25, 2019
Posts: 26
Reputation Power: 1
Motto: One life, live it
hello, firstly let me just say I know how dangerous they can be, im wise im not being silly just got a question..

anybody from the uk firstly?

and anybody use VERY ?

either way ive been granted £1500 very credit card, ive checked the balance its all on there

ive searched up and down on google no help, but any one got an idea if this is a card I can use on any site or any terminal?

or is it only for very...... it might sound stupid as its a very capital one card.. but ive got an incline its for anything.. just done through very

thanks guy


AC19
#2. Posted:
Sean
  • Administrator
Status: Online
Joined: May 14, 200811 Year Member
Posts: 6,959
Reputation Power: 12770
acon6907 wrotehello, firstly let me just say I know how dangerous they can be, im wise im not being silly just got a question..

anybody from the uk firstly?

and anybody use VERY ?

either way ive been granted £1500 very credit card, ive checked the balance its all on there

ive searched up and down on google no help, but any one got an idea if this is a card I can use on any site or any terminal?

or is it only for very...... it might sound stupid as its a very capital one card.. but ive got an incline its for anything.. just done through very

thanks guy


AC19


It's just a branded card VERY pretty much is paid to refer you to Capital One. That card you can use anywhere its just if you use it at VERY there will be a perk of some kind like cash back etc.
#3. Posted:
Oleeee_MU
  • New Member
Status: Offline
Joined: Nov 25, 2019
Posts: 26
Reputation Power: 1
Motto: One life, live it
Sean wrote
acon6907 wrotehello, firstly let me just say I know how dangerous they can be, im wise im not being silly just got a question..

anybody from the uk firstly?

and anybody use VERY ?

either way ive been granted £1500 very credit card, ive checked the balance its all on there

ive searched up and down on google no help, but any one got an idea if this is a card I can use on any site or any terminal?

or is it only for very...... it might sound stupid as its a very capital one card.. but ive got an incline its for anything.. just done through very

thanks guy


AC19


It's just a branded card VERY pretty much is paid to refer you to Capital One. That card you can use anywhere its just if you use it at VERY there will be a perk of some kind like cash back etc.


thanks a lot sean,

one last thing

say I use £1000 out the £1500 on offer

and set up a direct debit of £25 a month, do u think ill rack up interest? or any extra charge?

I know you don't work for them so questions like this might be abit much

but thanks for helping!

AC19
#4. Posted:
Craig
  • Winter 2019
Status: Offline
Joined: Jan 16, 20127 Year Member
Posts: 19,937
Reputation Power: 11946
Motto: "My liver hurts" - Scizor
Depends on what offer you got. Depends if you have any interest free periods on purchases.

For example I have a credit card that offers 26 months instrest free on all purchases, meaning I can spend what I want on the card within those 26 months and not get charged a penny interest. As long as I meet the minimum repayments each month, but they are small.

So it all comes down to the card you have and what the card offers.
#5. Posted:
Oleeee_MU
  • New Member
Status: Offline
Joined: Nov 25, 2019
Posts: 26
Reputation Power: 1
Motto: One life, live it
Craig wroteDepends on what offer you got. Depends if you have any interest free periods on purchases.

For example I have a credit card that offers 26 months instrest free on all purchases, meaning I can spend what I want on the card within those 26 months and not get charged a penny interest. As long as I meet the minimum repayments each month, but they are small.

So it all comes down to the card you have and what the card offers.


im logged into the actual card now

it says the minimum is 0.00

so surely I can set my own up that I can afford? say £15 a month?

that's an example...

if theyre happy with say £15 if I spent £800 , would that occur no interest or nothing??
#6. Posted:
Craig
  • Wizard
Status: Offline
Joined: Jan 16, 20127 Year Member
Posts: 19,937
Reputation Power: 11946
Motto: "My liver hurts" - Scizor
Without looking at your paperwork and the documents you got with it, we can't tell you as every persons offers are different.
#7. Posted:
Sean
  • Administrator
Status: Online
Joined: May 14, 200811 Year Member
Posts: 6,959
Reputation Power: 12770
acon6907 wrote
Craig wroteDepends on what offer you got. Depends if you have any interest free periods on purchases.

For example I have a credit card that offers 26 months instrest free on all purchases, meaning I can spend what I want on the card within those 26 months and not get charged a penny interest. As long as I meet the minimum repayments each month, but they are small.

So it all comes down to the card you have and what the card offers.


im logged into the actual card now

it says the minimum is 0.00

so surely I can set my own up that I can afford? say £15 a month?

that's an example...

if theyre happy with say £15 if I spent £800 , would that occur no interest or nothing??


The minimum is the minimum you have to repay on the balance on the statement since you've not spent anything its 0.

The minimum payment depends on how much you've spent plus the interest rate so if you spent say £100 one month the next month they will say this month your minimum payment must be £X towards the £100 you used.

You don't get a say in the payback rate to balance you must pay the minimum its worth noting paying the minimum normally is just the interest you wont be clearing the balance.

if your limit is £1500 on this card you DO NOT want to cross 40% of the total balance of the card other wise it will have a negative effect on your credit rating

£600 is the total limit you should push that card if I was you I would use it for little things and pay it off each month after 3 months they will up the credit limit to 2-3k allowing you higher usage.
#8. Posted:
Oleeee_MU
  • New Member
Status: Offline
Joined: Nov 25, 2019
Posts: 26
Reputation Power: 1
Motto: One life, live it
Sean wrote
acon6907 wrote
Craig wroteDepends on what offer you got. Depends if you have any interest free periods on purchases.

For example I have a credit card that offers 26 months instrest free on all purchases, meaning I can spend what I want on the card within those 26 months and not get charged a penny interest. As long as I meet the minimum repayments each month, but they are small.

So it all comes down to the card you have and what the card offers.


im logged into the actual card now

it says the minimum is 0.00

so surely I can set my own up that I can afford? say £15 a month?

that's an example...

if theyre happy with say £15 if I spent £800 , would that occur no interest or nothing??


The minimum is the minimum you have to repay on the balance on the statement since you've not spent anything its 0.

The minimum payment depends on how much you've spent plus the interest rate so if you spent say £100 one month the next month they will say this month your minimum payment must be £X towards the £100 you used.

You don't get a say in the payback rate to balance you must pay the minimum its worth noting paying the minimum normally is just the interest you wont be clearing the balance.

if your limit is £1500 on this card you DO NOT want to cross 40% of the total balance of the card other wise it will have a negative effect on your credit rating

£600 is the total limit you should push that card if I was you I would use it for little things and pay it off each month after 3 months they will up the credit limit to 2-3k allowing you higher usage.


I totally get that and ill do it


but on a real, if you think I spend £600, what do you think the min payment monthly will be? and will it occur interest ? or only if I miss payments? sorry about the questions im trying to be super careful
#9. Posted:
Brandon_Sucks
  • Winter 2019
Status: Offline
Joined: Apr 19, 20118 Year Member
Posts: 7,391
Reputation Power: 7126
Motto: Support Your Fellow Banana Farmers!
acon6907 wrote
Sean wrote
acon6907 wrote
Craig wroteDepends on what offer you got. Depends if you have any interest free periods on purchases.

For example I have a credit card that offers 26 months instrest free on all purchases, meaning I can spend what I want on the card within those 26 months and not get charged a penny interest. As long as I meet the minimum repayments each month, but they are small.

So it all comes down to the card you have and what the card offers.


im logged into the actual card now

it says the minimum is 0.00

so surely I can set my own up that I can afford? say £15 a month?

that's an example...

if theyre happy with say £15 if I spent £800 , would that occur no interest or nothing??


The minimum is the minimum you have to repay on the balance on the statement since you've not spent anything its 0.

The minimum payment depends on how much you've spent plus the interest rate so if you spent say £100 one month the next month they will say this month your minimum payment must be £X towards the £100 you used.

You don't get a say in the payback rate to balance you must pay the minimum its worth noting paying the minimum normally is just the interest you wont be clearing the balance.

if your limit is £1500 on this card you DO NOT want to cross 40% of the total balance of the card other wise it will have a negative effect on your credit rating

£600 is the total limit you should push that card if I was you I would use it for little things and pay it off each month after 3 months they will up the credit limit to 2-3k allowing you higher usage.


I totally get that and ill do it


but on a real, if you think I spend £600, what do you think the min payment monthly will be? and will it occur interest ? or only if I miss payments? sorry about the questions im trying to be super careful


Ring your bank, Cancel your credit card you shouldn't have one.
#10. Posted:
Sean
  • Administrator
Status: Online
Joined: May 14, 200811 Year Member
Posts: 6,959
Reputation Power: 12770
acon6907 wrote
Sean wrote
acon6907 wrote
Craig wroteDepends on what offer you got. Depends if you have any interest free periods on purchases.

For example I have a credit card that offers 26 months instrest free on all purchases, meaning I can spend what I want on the card within those 26 months and not get charged a penny interest. As long as I meet the minimum repayments each month, but they are small.

So it all comes down to the card you have and what the card offers.


im logged into the actual card now

it says the minimum is 0.00

so surely I can set my own up that I can afford? say £15 a month?

that's an example...

if theyre happy with say £15 if I spent £800 , would that occur no interest or nothing??


The minimum is the minimum you have to repay on the balance on the statement since you've not spent anything its 0.

The minimum payment depends on how much you've spent plus the interest rate so if you spent say £100 one month the next month they will say this month your minimum payment must be £X towards the £100 you used.

You don't get a say in the payback rate to balance you must pay the minimum its worth noting paying the minimum normally is just the interest you wont be clearing the balance.

if your limit is £1500 on this card you DO NOT want to cross 40% of the total balance of the card other wise it will have a negative effect on your credit rating

£600 is the total limit you should push that card if I was you I would use it for little things and pay it off each month after 3 months they will up the credit limit to 2-3k allowing you higher usage.


I totally get that and ill do it


but on a real, if you think I spend £600, what do you think the min payment monthly will be? and will it occur interest ? or only if I miss payments? sorry about the questions im trying to be super careful


£600 at 34.9% interest rate would work out at something like £53 minimum each month and that won't be clearing off the £600 you would need to pay more than 52 to start clearing.

I'm not a maths guy but that's about right
Users browsing this topic: None
Jump to:


RECENT POSTS

HOT TOPICS