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  1. #51
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    I couldn't even get a score! I've never held a credit card or loan in Australia.

  2. #52
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    Quote Originally Posted by Wise Enough View Post
    So because I change credit cards every few years to better suit me needs I'm a bad credit risk even though I pay it off in full each month??
    Sorry but are you actually reading my posts??? If you pay off your credit debt each month then how do you gather that my posts is aimed at your situation?

  3. #53
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    Default Found out why my credit rating is so bad


    Just a reminder to please keep it polite and on track with what the OP asked
    Thank you

  4. #54
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    Quote Originally Posted by bigmummahen View Post
    Sorry but are you actually reading my posts??? If you pay off your credit debt each month then how do you gather that my posts is aimed at your situation?
    Yes I am reading your posts. I'm not saying you were referring to me. You're making blanket statements and I'm merely pointing out people's situations are different and may credit card shop for different reasons.

  5. #55
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    Default Found out why my credit rating is so bad

    Quote Originally Posted by Wise Enough View Post
    Yes I am reading your posts. I'm not saying you were referring to me. You're making blanket statements and I'm merely pointing out people's situations are different and may credit card shop for different reasons.
    No I'm not. I referred to a specific type of customer who carries a credit card debt from bank to bank. I've been very clear in my posts. I haven't made any blanket statements. I find it amazing how much people argue in here when faced with an opinion or situation other than their own and how everyone 'thanks' the posts that shut down others, it's such a gang like mentality. I won't be returning to this thread.
    Last edited by bigmummahen; 28-07-2015 at 22:55.

  6. #56
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    Bigmummahen, I don't think anyone fundamentally disagrees with your main points, which seem to be that: people can get themselves into trouble with credit cards; and carrying debt with no intention to pay it off can be bad.

    However, what I, and other posters have been saying, is that the situation can be more complicated than that, and people's situations are different.

    I'm sorry if you think you've not been listened to. I think however that the shoe is really on the other foot here.

    People shop around for credit cards for different reasons, not just trying to avoid repaying debt, was my fundamental point, and shopping around should not be penalised in a free market economy.

    As to the point you've made about carrying debt = bad credit risk, that is not necessarily the case. Think about mortgages - big debt - if you're servicing the debt, even if you're not paying off any of the principal, you can still be an extremely good credit risk. It's not just about your net position, it's also about serviceability.

    Even carrying debt on a credit card is not necessarily a bad thing. It can be, sure, no doubt about that, and probably is in most cases, but it isn't always.

    In some cases, in fact, it could be an advantage. For example, not that I think this is a good idea, but if you'd borrowed money on a credit card to make an investment (eg shares), the interest you're paying to earn that investment income can be negatively geared, as I understand it, and it may not be in your interests to pay off that debt at any time in the near future. (Not an accountant, just my amateur understanding.)

    I personally don't like carrying debt either, but sometimes its necessary, and not always a bad thing.

    My point, fundamentally, is that the position is more complex than credit scores show, and this should be taken into account.


 

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