Comments on: Money Matters http://www.stooly.com Fri, 18 Jun 2010 14:55:58 -0400 http://wordpress.org/?v=2.8.4 hourly 1 By: admin http://www.stooly.com/london-guide/money-matters/comment-page-1/#comment-115 admin Wed, 21 Nov 2007 17:33:59 +0000 http://www.stooly.com/london-guide/money-matters/#comment-115 Folks, a bit of an update here for people interested in credit cards. In the last few weeks we have noticed a lot of people have been given a limit increase on their credit cards whether they asked for it or not. This could be a blessing in the skies if your broke as well as a ticket to hell when it comes to getting out of that debt cycle again. It is so easy to get caught up in a credit card debt cycle in the United Kingdom. The more in debt you are, the better your chances of you getting more credit. They will offer you a higher credit limit but at a cost, almost 30% interests which is extremely high to pay off. You could be saving so much more by switching to a lower interest credit card. Folks, a bit of an update here for people interested in credit cards.

In the last few weeks we have noticed a lot of people have been given a limit increase on their credit cards whether they asked for it or not. This could be a blessing in the skies if your broke as well as a ticket to hell when it comes to getting out of that debt cycle again. It is so easy to get caught up in a credit card debt cycle in the United Kingdom. The more in debt you are, the better your chances of you getting more credit. They will offer you a higher credit limit but at a cost, almost 30% interests which is extremely high to pay off. You could be saving so much more by switching to a lower interest credit card.

]]> By: admin http://www.stooly.com/london-guide/money-matters/comment-page-1/#comment-71 admin Thu, 08 Nov 2007 22:07:20 +0000 http://www.stooly.com/london-guide/money-matters/#comment-71 1stContact will get a basic account for you, you will need to use this account for up to 6 months before the bank will even consider upgrading your account. You basically have to "prove" to them that you can keep a healthy bank balance. By healthy we mean that you keep money in your bank account each month and not blow it all until the last penny. After that, you're set to sit down with them and upgrade it. Why would you possibly want to upgrade your bank account? A debit card works fine for the majority of people living in the UK. I know Barclays charges £6.50 a month for the current account while the basic account is free monthly. 1stContact will get a basic account for you, you will need to use this account for up to 6 months before the bank will even consider upgrading your account.

You basically have to “prove” to them that you can keep a healthy bank balance. By healthy we mean that you keep money in your bank account each month and not blow it all until the last penny. After that, you’re set to sit down with them and upgrade it.

Why would you possibly want to upgrade your bank account? A debit card works fine for the majority of people living in the UK. I know Barclays charges £6.50 a month for the current account while the basic account is free monthly.

]]> By: Stephan G http://www.stooly.com/london-guide/money-matters/comment-page-1/#comment-66 Stephan G Thu, 08 Nov 2007 09:58:16 +0000 http://www.stooly.com/london-guide/money-matters/#comment-66 Quick question, When you apply through 1stContact, you get a basic bank account, but after a month or so can you upgrade your account at the Bank itself? or how can you do this? Quick question, When you apply through 1stContact, you get a basic bank account, but after a month or so can you upgrade your account at the Bank itself? or how can you do this?

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