Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.

View this topic in a long page with up to 500 replies per page Create new topic
1 | 2 
772 posts

Ultimate Geek
+1 received by user: 71


  Reply # 668408 6-Aug-2012 16:03 Send private message

ajobbins:
You would be surprised at what they will give you.


Wasn't that one of the catalysts for the GFC, insititutions lending money to people that can't afford to pay it back.  Have they tightened up on this at all when it comes to handing out CC limits?

I'm trying to instill in the kids (13 & 15) never to borrow money for non-essential items, and continue the message about compound interest.  Whether they will heed the advice...remains to be seen I guess.





Awesome
3968 posts

Uber Geek
+1 received by user: 562

Trusted
Subscriber

  Reply # 668436 6-Aug-2012 16:36 Send private message

floydbloke:Wasn't that one of the catalysts for the GFC, insititutions lending money to people that can't afford to pay it back.  Have they tightened up on this at all when it comes to handing out CC limits?


Suspect they have tightened this up now, but still probably no drama getting a $1k or less limit.

I got a card from NBNZ when I was in 7th form with a $500 limit. I made like $80 a week at the time. That was a few years before the GFC, tho.




Twitter: ajobbins

708 posts

Ultimate Geek
+1 received by user: 144

Trusted
Subscriber

  Reply # 668442 6-Aug-2012 16:40 Send private message

I understand Kiwi Bank are doing a balance transfer deal.




Procrastination eventually pays off.

2295 posts

Uber Geek
+1 received by user: 115


  Reply # 668469 6-Aug-2012 17:08 Send private message

Lol so just got back from the bank, thanks for your advice about looking at balance transfer deals. Got a KiwiBank Mastercard with like 2% or something for the first 6 months on balances transferred so I'm just waiting to be approved for that. Should hopefully ease my mind a bit.





2013 MacBook Air (4GB/1.3GHz i5/128GB SSD) - HP DV6 (8GB/2.8GHz i7/120GB SSD + 750GB HDD)
iPhone 5 (16GB/White/Telecom NZ) - Xperia Z C6603 (16GB/Purple/Telecom NZ)

Sam, Auckland 
Skype: tardtasticx

4761 posts

Uber Geek
+1 received by user: 122

Trusted

  Reply # 668672 7-Aug-2012 07:26 Send private message

jonb: 
You also need to be careful doing balance transfers too - don't use this card to make any purchases until you've paid off the balance transfer. This is how I got stung.

Any purchases you make are charged at full interest, but there is no way to pay them off until you pay all the balance trasfer amount first. 


+1

This is a actually a really key point to note.

708 posts

Ultimate Geek
+1 received by user: 144

Trusted
Subscriber

  Reply # 668680 7-Aug-2012 08:08 Send private message

Jaxson:
jonb: 
You also need to be careful doing balance transfers too - don't use this card to make any purchases until you've paid off the balance transfer. This is how I got stung.

Any purchases you make are charged at full interest, but there is no way to pay them off until you pay all the balance trasfer amount first. 


+1

This is a actually a really key point to note.


Not always the case.  Check with your card provider - This is on the KiwiBank web page;

Switch to a Kiwibank MasterCard™ and pay only 2.99% p.a. for the first six months on the transferred balance and new purchases.

But like I say - check with the card provider.




Procrastination eventually pays off.

4761 posts

Uber Geek
+1 received by user: 122

Trusted

  Reply # 668713 7-Aug-2012 09:22 Send private message

Yeah good point StarBlazer. I think kiwibanks is all encompassing probably due to it only being 6 months. Westpac's was for a year or two and in that case all repayments were on the initial transferred portion only.

But yes, message is basically just to check the details and see if it's actually going to be good for you.

1 | 2 
View this topic in a long page with up to 500 replies per page Create new topic




Twitter »
Follow us to receive Twitter updates when new discussions are posted in our forums:



Follow us to receive Twitter updates when news items and blogs are posted in our frontpage:



Follow us to receive Twitter updates when tech item prices are listed in our price comparison site:




News »

Trending now »
Hot discussions in our forums right now:

Moment of Truth?
Created by BarTender, last reply by JimmyC on 29-Sep-2014 09:16 (441 replies)
Pages... 28 29 30


Windows 10 announced, as well as developer preview
Created by macuser, last reply by mentalinc on 2-Oct-2014 07:18 (51 replies)
Pages... 2 3 4


Can i have 2 ISP's at home?
Created by ReckITT, last reply by Lazarui on 30-Sep-2014 18:15 (49 replies)
Pages... 2 3 4


Why is your nickname what it is, what are the origins of it?
Created by Presso, last reply by hsvhel on 1-Oct-2014 11:52 (89 replies)
Pages... 4 5 6


What time will the Apple Store online be selling the iPhone 6?
Created by scotiwis, last reply by thewanderingv on 1-Oct-2014 22:49 (110 replies)
Pages... 6 7 8


iPhone 6 From Spark - Order Dates and Pricing?
Created by Otagolad, last reply by mahdibassam on 1-Oct-2014 17:03 (348 replies)
Pages... 22 23 24


Easiest way to have iPhone warranty service
Created by JoshWright, last reply by nitrotech on 30-Sep-2014 21:37 (15 replies)

Registering with metaname
Created by freitasm, last reply by freitasm on 30-Sep-2014 18:16 (13 replies)


Geekzone Live »
Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.

Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.

Alternatively, you can receive a daily email with Geekzone updates.