PPRuNe Forums - View Single Post - Finance for modular training ('ATPL Finance')
Old 10th January 2014 | 18:50
  #11 (permalink)  
RTN11
 
Joined: May 2008
Posts: 1,366
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From: UK
the key thing is to sensibly build your credit score - you can't get a good score until you 'borrow' money and then re-pay. The quickest way? Apply for a credit card through your bank.
This is the key I think. I hear too many people saying their parents won't let them get a credit card, but then later in life they have no credit history when they want a proper loan.

I've had at least two credit cards since I was 18, but as I say I've never missed a payment, never gone over the limit, so I guess when I apply for a loan they have no problem with 4.8% APR, as I have a proven history as a security. If you're a total unknown, or have a black mark, perhaps 9.5% is the best offer you'll get.

Last edited by RTN11; 10th January 2014 at 20:53.
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