girl-in-a-scoob

a credit card?


Dont want one... wont have one... anyone else?

Claire

Snazy

Once this one is paid off I will join the club

girl-in-a-scoob

Wont have finance.... Only thing on finance is the mortgage



car... food... electrical items... alll mine

Snazy

Planned finances are not a bad thing, as long as you dont overstep the mark.
But unplanned things like credit cards, with varying payments etc, can prove bad news.

For others who have their finances totally under control CC's are superb to have. When im good, all is well, and its handy to have. When im bad......... lets not go there.

girl-in-a-scoob

lol... yeah I wouldnt trust me with one....


If I cant afford it I dont have it thats it... no card.. no temptation

[Davey]

I have one for online purchases and emergencies and to atleast keep me with some kind of credit rateing ... It gets paid off every month. Other than that I have no other kind of finance/credit.

image doctor

People who boast about not wanting one, wouldn't be able to get one any way.

Buying your car and electrical items from a mortgage does not count either......just 25 year finance.

girl-in-a-scoob

Didnt say I bought anything on the mortgage... the only thing on the mortgage is the house but thanks for your input

Wasnt boasting.. was watching the news about all the people who are now in debt because of christmas because they cant pay their cards and just wondered if anyone else didnt have one... because they didnt want one, not cos they couldnt get one

Simon C

Didn't put anything on the CC at christmas, all went on the debit card as does 99% of things.

I do have a CC and that was used for buying stuff for a business venture, when thats been paid off (in the next couple of months), I'm going to transfer a lump sum on to it and go furnature shopping with it for the new place.


Why do it like that, cos I have the bulk of the money saved up, but you can bet I've forgotton something and doing it this way will buy me some breathing space if I have.

image doctor

As a renowed international traveller..not having a credit card would cause me severe difficulties in paying for stuff.

That said, I was in Germany yesterday and wanted to buy a wii, but they would not accept any card I had.....and I'd already taken the maximum amount of cash out of an ATM.

It's all about discipline......if you can't afford to pay the bill at the end of the month, don't buy it.

skoobidude

Never had a credit card as I'm sure I'd get plastic-happy too easily!
I do have car loan and mortgage though.

Nick

Nido

Couldn't work without one, it's set up so the balance is paid off in full every month though so I never have any interest to pay whatsoever.

Flights, hire cars, many hotel reservations all impossible without one

jjones

0% on purchases for nearly a year makes financial sense to have and use it. same as anything isn't it, use it in moderation or it will bite you in the ****.

corradoboy

They can be a financial benefit. I have a flexible repayment mortgage which effectively works like a big fat overdraught charged at mortgage interest rates. Anything I spend is added, anything I earn deducts. Interest is calculated daily and charged monthly, so by keeping as much cash in the account as possible at all times can add up to a very large saving over time. I used to buy everything on the CC over the course of any month, then pay the full amount at the latest date possible, thus accruing no CC interest and saving mortgage interest. I now pay for everything with cash from my second job, leaving my primary income untouched to (hopefully) decimate the mortgage. There are times when a few things creep up, like car insurance, where I may opt to let the CC go up a bit and then I apply for a 0% card and pay it off slowly, again keeping cash in my mortgage and costing me nothing. Play the game and they can actually save you money. If you're silly then you deserve all that's coming.

Maz

iTrader: (34)

Don't have one and never will! Do people think the card is there for their benefit? No, it's there to make plenty of money for the banks. If I can't see the money leaving my hands I can't keep track of it. There is nothing wrong with saving up for things or simply living within ones means. Society nowadays is all about spending wether you can afford to or not. What would happen if say for a week nobody spent any money other than for the bare essentials? That would put the wind up the financial institutions and the Government.

Maz

iTrader: (34)

That's the problem a lot of people fail to grasp the whole concept and start bleating when they are heavily in debt.

corradoboy

The kind of action needed in the petrol protests. Imagine GB's @r$e twitching if the majority of the population suddenly decided to car-share, walk, bus, train, cycle or cancel unnecessary journeys, even for one week ! Of course, it will never happen as Brits are, by default, all talk no action, spineless, selfish and weak, and I am one of them

Maz

iTrader: (34)

'Power lies in the proles, always has.'

How to Defeat Big Brother and Reclaim Your Freedom

boxst

Hello

I don't think I could survive without a credit card as I wander aimlessly around the world and paying for hotels etc.. would be impossible without a suitcase full of cash.

I always pay off my credit card at the end of the month, what I have noticed is that in the last 20 years or so (wow I'm old), I now live a month forward: i.e. I pay for things on credit card and then pay it off when I get paid. I would much prefer to pay as I go in case anything untoward happens.

Steve

Suresh

I have credit cards issued by 3 banks from 3 different countries. All of them get automatically paid in full each month. Only really use them for hotels, paypal etc. etc.

chocolate_o_brian

iTrader: (22)

ive only got the one credit card. saved me a few times. its ok going on the "if i havent got the money i dont have it" philosophy, but sometimes, a ready cash advance which, if you know you can pay back albeit with interest, i see no major problems.

the credit card has recently bought me a new tv, which will get payed back. if sacrifices have to be made, so be it. the gearbox is being partially funded by the card too.

may sound irresponsible, but i have plenty of equity in my house, we have two full time earners (me and fiance), and were 21 and 23, so plenty of years to pay off a mortgage which is well below the national average.

i recently dropped 11k of debt from various things inc. car, bathroom , decorating etc. into the mortgage. went up £70 a month, and im saving (after extra payments) £150 a month. but i looked at it in this way, if i bought my house tomorrow, i would have a higher mortgage than now (still have 15k equity - in a small terace thats not bad going in 2 1/2 years) and not have my bathroom, tv, car(s), and all my other stuff either.

if managed properly, and you have the discipline, i see no major harm in it. discipline being the main factor though.

PaulC72

Mine is used for hiring cars abroad, and for when I buy stuff off the internet from sites I have never used before. Always paid off whent he bill ocmes as I don't really like them but need one for the above reasons.

JP4

iTrader: (12)

Credit cards, if used wisely and as long as you are in control can be a very good way to build your financial credit rating . Basically it tells finance companies that you are able to pay on credit and therefore this will have a positive effective say if you ever applied for a loan etc.

You can also take advantage of utilising "Life Time Balance Transfers" if you are really smart and save a few pounds.

TopBanana

Much more convenient than debit cards - saves worrying about having enough into your current account.

corradoboy

My next door neighbour is a financial advisor and has had clients refused mortgages due to having no credit history. No loans, no c/c's, no hire purchase = no idea whether they can be trusted to repay so no mortgage.

RB5_245

Saying - if you can't afford it don't buy it is all very well if you're a local person from a local town and never really do anything.

Personally I try to pay for everything within reason on card and then pay it off every month. When you're out an about, particularly in foreign countries it's a much better way of doing things. Definitely best to avoid if you're a bit short on self control and don't go anywhere though

PaulC72

Also forgot to mention they are a must if you are on an offset mortgage as you want to keep your fund in your personal account as long as possible so you pay it off after the free month {not that i have an offset of course but I know people who do}

pslewis

My Credit Card pays me a very handsome 4% CashBack

My average CC Bill is £1250 a month - that earns me a nice little £50 .... for doing absolutely NOTHING - I clear my account each month and pocket the money they pay me to use their card

It's FREE money and I like FREE money better even than SAVING money

Do it ..... it makes fantastic sense!

Dieseldog

Thinking of getting one of these cashback cards. Is this a special introductory rate or does it continue ad-infinitum? If the latter, which card is it? Ta'...

pslewis

4% for 3 Months and then a rather impressive 1% forever after.

But, there will be another card offering higher than 1% in 3 months time ... I have no loyalty