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Thread: credit card...

  1. #1
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    Default credit card...

    What is your experience using a credit card?

    I never use it and I never plan to get it...

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  2. #2
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    Default Re: credit card...

    Good for you. Credit cards can be useful but if you don't want or need one then I would say that is a good thing and best to steer clear.

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    Default Re: credit card...

    You need them for some things, but it's better if you don't really use them for long term credit. Things like car rental would be hassle without one.

    We've got two. One French one that I don't think we're really allowed and a Maltese one. Until the Maltese one raises it's limit by seeing we're not going to do a runner, we'll be keeping the French one. We use both, but they're always paid off each month in full.

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  4. #4
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    Default Re: credit card...

    We've got three!

    One is a Barclaycard that we have used for years, always paid in full each month, so no interest.

    Then we have a Halifax Clarity card, which is for use abroad only, as it has no charges for purchases and cash outside the UK. That gets kept in the "international wallet" when we are here and doesn't get used.

    Then, lastly, we have a Santander card, which is for cash back and "stoozing". So we use this for everyday stuff like shopping and petrol, which we get cash back on. Also, it has 0% interest for 23 months so we don't pay it off each month, instead putting the money that would have gone to pay it off into an interest paying account (also Santander), so we get interest on the money. This requires discipline and is not recommended for everyone. The main things to remember are always to cover the balance with money saved in an interest paying account (there wouldn't be much point otherwise), always pay the minimum charge each month, don't go over the credit limit and pay it off at least a month before the 0% period ends. Oh, and don't use it for cash withdrawals.

    But as I say, if you can manage without cards then all the better.

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  5. #5
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    Default Re: credit card...

    We'll eventually get rid of the French one, even though they've just increased the limit again. We pay it off every month, so it's no loss if they do take it off us. We just wanted it as security until we had stuff set up in Malta. It's a slow process though because they're not very trusting of foreigners. Luckily we did manage to get a credit card based on our French bank reference, but the limit isn't high enough yet.

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  6. #6
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    I have one. I only use it for online payments on websites I've never used before and also for foreign travel. It's always paid off at the end of the month by direct debit. I'm not a huge fan of credit.

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  7. #7
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    Default Re: credit card...

    Credit's OK as long as you don't get out of your depth and you know you can pay it off. Too many people get into trouble because they use the credit card to buy stuff that crops up that they haven't allowed for in their budget and then it mounts up without them realising how high it has got (some actually don't check as they don't want to get a scare - head in the sand if you like). But yes, if you can avoid credit and pay by other means then that is certainly preferable.

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