where has the credit gone?

[winterblues25]

I’ve usually never had a problem being accepted for credit but just tried to increase my credit limit on my card recently and was refused, new balance transfer card and loan applications refused, credit score good, even the balance transfer offers on my credit card which I’ve had for years have been withdrawn??

Amazing, well done you being able to afford all those holidays, maybe if we took the more lucrative career opportunities available to us we would be as rich as you but that was not our priority. You seem to miss a key point, myself and my DH raise our children more than sufficiently on our own incomes, we’re not asking you or anyone else for a contribution. We’re all very happy with our lives, so how is your boasting over all the extra things you can afford relevant, please tell???

You asked if other people struggled to get credit the answer is no, because we manage our money, so we are a safe prospect for lenders.

I didn't tell you how much we earn so it's not about being rich or boasting. We live to our means neither of us work in lucrative fields. I grew up very poor so know what it's like to actually need money. You're building your house on quicksand and you will come unstuck if something doesn't change. I'm not sure why you started your post other than to argue with people who replied.

I appreciate you didnt ask for advice @winterblues25 but it became apparent that you are struggling so people responded.
You have a lot on your plate for sure
If you posted your income /outgoing folk will make suggestions as to how you can save and get this sorted for good.
Despite you repeating that its all fine, it really isn't because if lines of credit dried up, which is now starting to happen, how will you pay for food, clothes petrol etc?
Having 70K equity makes not a jot of difference as by the time you have sold, the market is down anyway so unlikely to be that,moving costs and solicitors fees, its hardly going to be worth it anyway.
If you are considering stopping pension payments you are not managing.

Is there a reason some months income is 5K and others 3800?
I would keep the extra for the lean months and stop using the CC now.
Pay slightly over the minimum
Write a strict budget
Sell DC outgrown clothes to buy new -look on Vinted

I have been sent lots of transfer balance options by my credit card provider & one of my banks sent me a credit card offer so there are definitely deals to be had.

I would hate to be servicing so much interest so understand why you would prefer to shift.

Surely on your incomes you are entitled to child benefit & tax free childcare?

So by your definition, anyone who does their research into the financial landscape on an online forum isn’t managing?
Anyone who tries to find the cheapest deal with regards to interest rates isn’t managing ?
Anyone who does not have significant cash savings isn’t managing?
So while we’ve had 10 years of supposedly ‘not managing’ under your definition, we’ve raised 3 children, co raised 2 more and built up a further 140k in assets. Are you saying anyone who would be affected by losing their job tomorrow is not managing?

Yes to the TFC but child benefit is clawed back through HICBC

No I think people just enjoy the ego boost of being patronising uninformed twats, there are a multitude of ways we could release/increase income and assets to have no debt at all tomorrow or have had no debt at all. This is what has worked for us, if it stops working for us then it may surprise you that we do have the ability to work out a different way of doing things for ourselves.

will definitely be voting the people out of office who have decided to take so much tax off us that we don’t have the spare money for swimming lessons

Dont be hopeful that taxes will come down in the future, they won’t!

I appreciate you want an outlet for saying how well you feel you’ve done for yourself and your ego is obviously much inflated by your ability to access credit at the moment. We understand that. However at the end of the day I’m going to do what works best for my family and you’ll no doubt do what works best for you, further unsolicited advice and opinions when I simply wanted to know other people’s experiences of gaining credit is not going to make a difference.

Yes to the TFC but child benefit is clawed back through HICBC

Even with the new higher threshold?

What will be will be but thankfully we do live in a democracy

Yes and prior to that we haven’t had any for the last few years

But you don’t run 8k of debt buying glove and spare uniform @winterblues25 you
just don’t…so you are overspending a lot imo.

I know you don’t want advice OP & you feel your debt is currently manageable however just be cautious because life isn’t going to get any cheaper despite living in a democracy!

Ok
Your head is well and truly stuck in the sand, you can be as defensive and unpleasant all you like but putting essentials( cheap ones at that) on a CC that you cant pay off means you are financially illiterate however much you shout about looking for deals and being financially astute.
Good luck

Yes and prior to that we haven’t had any for the last few years

I just asked because it wasn’t clear on your income.

Mmm, I've been working on the same assumption! With our dependency ratios, I don't see any way round that. I do think we'll ultimately move more towards taxing wealth over productive labour than we are currently, but reckon due to demographics it'll take some time before that's feasible.

Exactly. £8k of debt does not come from a dozen shirts and underwear.

Yes our income fluctuates month by month, is that an issue? When we have extra one month we simply pay more off any debt. We also have small emergency fund in case we need cash immediately. I’ve always budgeted and regularly review every penny we spend and plan for the future, I planned 3 years in advance for our last mortgage renewal which is why the hike in interest rates didn’t throw us into turmoil. How does having assets not make a jot of difference and since when has it cost 70k to move house, btw we’ve got significantly more
than 70k equity in our house (70k is just the capital we’ve paid off the mortgage in the last 10 years). I don’t particularly want to buy 2nd hand clothes, not sure after postage etc that they’d be any cheaper anyway than the clothes I picked up yesterday in the Asda sale? I donate their old clothes on our local freecycle, similarly when I see something useful for our family on there we take that, saves a lot of hassle

@Binus absolutely due to demographics & not just taxes but utilities, food etc won’t get cheaper either.

There should be a move away from income to wealth but i’m unsure if that will happen. People will vote in their interests after all.

Op, I don't know why you are banging on about the equity in your house and your pension.
Everyone (or a lot of people) have these, they are part if life.
They are not some magic formula to financial security you have discovered.

Your using one example, it also came from setting up house, being on maternity leave, having periods of time when our childcare costs exceeded my salary, in addition to a multitude of other things e.gputting the maximum we could into our workplace pensions.
For all the shame you are trying to throw on 8k debt, managing our finances in this way has been a positive thing for us, sorry it doesn’t fit with your ideology

I am using the example you gave in your op and continue to refer to throughout.

How does having assets not make a jot of difference and since when has it cost 70k to move house, btw we’ve got significantly more

Of course it’s good to have assets but that doesn’t help unless you access that asset. Day to day spending is still determined by your income.
Absolutely do not consider pausing your pension contributions.
There is nothing wrong with debt & debt can be good. What you don’t want is to be paying high debt interest & having no other choice as that can snowball the debt.

My ideallology??
Have you seen my post where i said i had to declare bankruptcy?
YYou are actually getting quite unpleasant now so I am out.