What's the catch?

[raskolnikov]

Retravision at the moment is offering two years no repayments and no interest. Surely there has to be a catch. What is it?

 

[i_hate_scams]

getting people to buy something when they clearly cant afford it now, or even two years down the track.

Benefit: getting a sale where otherwise they would not have made
cost: in affect they are giving you an interest free loan for two years.

 

[carntheroos4eva]

Retravision at the moment is offering two years no repayments and no interest. Surely there has to be a catch. What is it?

Could be something similar to Harvey Norman.
Sounds dodgey whatever it is.

 

[KardiniaPark]

Retravision at the moment is offering two years no repayments and no interest. Surely there has to be a catch. What is it?

A catch. NEVER!

You will be signing up for a credit card which they wont tell you until all the paperwork has gone through. It will have a $10,000 limit. So you spend say $1200 on a tv you will have $8800 to spend on 'other' things like your behind on a few bills and you decided to get on top of them now while you have all this $$$ at your disposal..and being two years away till the interest kicks in you will put another few things on it like a computer and before you know it your 2 years down the track with $6,000 on your card to pay off and you are being slugged 28% interest. I know that sounds very personal hahahaha but its the easiest way to explain it!.

 

[dchawk]

Retravision at the moment is offering two years no repayments and no interest. Surely there has to be a catch. What is it?

Pay it off within the two years then there is no catch - is a great way of getting things, they do do a credit check for their reasons etc.

If you dont pay it off within the two years ... you get charged interest calculated daily/weekly (depending on company) on the full amount, not the amount left owing.

If you are good with your money then very good offers, if you are s h i t with your coin, dont do it!

 

[dchawk]

A catch. NEVER!

You will be signing up for a credit card which they wont tell you until all the paperwork has gone through. It will have a $10,000 limit. So you spend say $1200 on a tv you will have $8800 to spend on 'other' things like your behind on a few bills and you decided to get on top of them now while you have all this $$$ at your disposal..and being two years away till the interest kicks in you will put another few things on it like a computer and before you know it your 2 years down the track with $6,000 on your card to pay off and you are being slugged 28% interest. I know that sounds very personal hahahaha but its the easiest way to explain it!.

One of the options these "cards", dont do it. Go for the single offers just for the amount of what you want

 

[raskolnikov]

If you dont pay it off within the two years ... you get charged interest calculated daily/weekly (depending on company) on the full amount, not the amount left owing.

I went into Retravision today and you are right. After two years they charge 28% interest on the full amount from day one.

Tempted to do it as I'm pretty sure I'll be able to pay it off in that time.

 

[de_LICA_ish18]

A couple of months ago I was buying a plasma from Clive Peters on 2 years interest free (which will be paid off before interst kicks in, plus I dumped the credit card)

but anyway....I couldnt believe the fricken idiot filling out my application. When it got to occupation I took a second to say my job title which was Business Analyst. Before I had the chance to say it he wrote down Manager. Ok thats not even a title but he thought it "sounded good". Personally I thought it sounded shit.

Then got down to salary and he didn't even ask, he goes how bout I say $50k and I said its about $70k so he said umm ok and then proceeded to write down $100k. WTF?? Ok I already knew I'd get accepted as my salary was fine however he is in the habit of bumping it up.

Seriously how bad is that. He completely lied about the figures to get an approval (even though I would have got one anyway) I'd hate to think of all the dodgy approvals he gets for the people that can't afford it.

 

[The Passenger]

if your good with your money go for it.

i got a credit card just to be a laptop and festival tickets whilst im o/s. 6 months interest free which im pretty sure ill have paid off or close to in 6 months. if not, it won't be much more than a few hundred pounds anyway.

 

[dchawk]

I went into Retravision today and you are right. After two years they charge 28% interest on the full amount from day one.

Tempted to do it as I'm pretty sure I'll be able to pay it off in that time.

Just work out yourself what monthly payments would be over 18mths, not the full 24 months and if you can afford it over 18mths go for it. That way if u ever have unexpected bills come up n need to miss a month you are in front.

 

[DoubleA]

I took a similar offer at JB to pay for a TV, Ipod and a few other things. I got given the credit card a week later and I chopped it up the second it arrived, Im only using the credit for the purchases, and I've just divided the total amount by 12 and pay it off over 12 months to never get behind.

There are catches in these agreements for idiots that dont ask about or read the fine print, if you want to spent the $8k on the credit card and forget about it, you'll pay the consequences.

 

[de_LICA_ish18]

I took a similar offer at JB to pay for a TV, Ipod and a few other things. I got given the credit card a week later and I chopped it up the second it arrived, Im only using the credit for the purchases, and I've just divided the total amount by 12 and pay it off over 12 months to never get behind.

There are catches in these agreements for idiots that dont ask about or read the fine print, if you want to spent the $8k on the credit card and forget about it, you'll pay the consequences.

Exactly what I did. Got rid of the credit card straight away and set up my Internet banking to make monthly payments so that its paid off before interest kicks in.

Anyone who uses the credit cards that come with them are stupid. The interest rates are sky high and the payments you make come off the interest free stuff first. So if you buy a $3k tv and spend another $2k, that $2k is on a top interest rate which you won't begin to pay off until you have paid off the tv portion.

 

[Judd4PM]

if your good with your money go for it.

i got a credit card just to be a laptop and festival tickets whilst im o/s. 6 months interest free which im pretty sure ill have paid off or close to in 6 months. if not, it won't be much more than a few hundred pounds anyway.

Which credit card gives you 6 months interest free?

Going overseas myself and have always avoided getting a credit card, but its a must now.

Whats the interest rate on this 6 months interest free card you speak of?

 

[CAS79]

I went into Retravision today and you are right. After two years they charge 28% interest on the full amount from day one.
If you can do it great.

Set an amount each month to pay and pay it. otherwise the interest is the catch.


I'll bet it's GE or AGC too.

unfortunately we bought some purchases when we first bought a place, they were on a 12 month term but my partner got so sick she spent almost a whole year off work and with a new house and one income things got tight. we got caught out here as we did not pay up before interest free ran out and we are only just putting this card to bed now she's back at work.

 

[The Passenger]

Which credit card gives you 6 months interest free?

Going overseas myself and have always avoided getting a credit card, but its a must now.

Whats the interest rate on this 6 months interest free card you speak of?

i got it with ulsterbank whilst i'm in the uk here.

but since getting it i have seen better ones around.

mine is 6 months interest free and 19% thereafter. both visa and mastercard.

i can't remember who it was but i saw 9 months interest free, and 15% thereafter...

doesn't really bother me as i should have it paid off anyway.

if you can control your spending on it, getting one is fine. good advice i got from a mate last year was he'd rather go back him with 5K debt and know he'd done everything he wanted to, then come home with no debt and always think about what he would've liked to have done more whilst o/s....

 

[Judd4PM]

Couldnt agree more. The last thing I want to do is run out of money.

How do you go about applying for a card whilst in the UK while only having an Aussie passport?