good morning. IVA ended 2011. Can i use new credit card ?

[kallis3]

Olydak - T Mobile are usually quite good at giving people in an IVA a contract - we've had several lately who've managed to get one.

[olydak]

Thankyou Jan i will contact T-Mobile and enquire.

Regards David.

[kallis3]

Let us know how you get on.

[lem]

Do you know, and I am going to be completely honest here, I wouldn't trust myself with a credit card at all, although I have had a year without any credit and as wonderful feeling as that is knowing that I haven't racked up any more debt during that time, I can honestly say that if I wasn't in an IVA at the moment and I had a credit card to hand I would use it and go on a splurge, I don't think I have got it out of my system at all.

I am hoping by the end of 5 years I will have, but certainly at the moment the restriction of an IVA is a very welcome thing

[densbar]

hi lem
after 5 years in my case 6 years you get very used to not having any credit cards,but i just want to use this one and pay off every month so it wont cost me a penny and will help me rebuild my credit file for the future.

[footiemad]

I think if you are sensible and pay the balance off in full each month, then it is a good idea to use a credit card. They can be so handy for many things but you have to be 100% certain that you will be able to pay it in full. Not sure if I could having said that, but as Lem has said I probably will be fine after 5 years of doing without. I used to have about 12 of them to juggle each month!!! - Silly cow x

[artemischild]

I think its something that has to be considered as Andy says, its a useful tool that can be used effectivly, it will also, as pointed out, help build a credit file, something which i know many people on the forums need to do to move forward in life, such as myself who wants a mortgage within the next few years etc

[kallis3]

It can be a very useful tool - Vanquis is particularly good as the credit limit is always set very low so you're not tempted to go mad!!

[artemischild]

Thats my plan for a year, get a vanquis card and each week use it for my pertol bill then pay it off that same week, lots of transactions etc

[Skippy]

Be warned though - Vanquis start off with a low rate and then increase it! I started off with £250 and it's now £2250. I haven't bothered asking them to reduce it as I'm careful with what I spend but it wouldn't be too hard for someone to get back into debt!

[kallis3]

Didn't realise they put it up that much Skip!!!

I think I'd be straight on the phone to ask them to keep it as it was!!

[KAYKAY]

Mine went from £500 limit to £1000 after I had cleared the balances on the first 4 statements. I think that is sufficient as it would cover any major unexpected expense such as a car or boiler problem. If they offer to increase it further, I think I will decline the increase. £1,000 is more than enough for anyone and certainly for me. I clear my statement every month without fail.

[Foggy]

This is an example of irresponsible lending thast aided and abbetted many of us getting here in the first place -- tread carefully.

[Pennyless]

"Never as lender or borrower be" my Gran used to say......wish I'd taken notice of her many moons ago......but one things for sure, as of day 1 of my IVA it also became my maxim.

[kallis3]

As long as you have learned from your mistakes and can be responsible now then there is nothing wrong with having a credit card.