Poll: How many of your non-essential purchases are bought on credit?

[b0rn2sk8]

Everything that will fit in a CC is put on it and paid in full at the end of the month. Even annual stuff like insurance is paid in full upfront.

I just bought a brand new car which has finance on it (loan rather than PCP) but that has a very sizeable down payment on it and will be paid off in full in due course.

House has a mortgage which is completely understandable.

The only small thing I have credit on is my phone which is on contract currently, yes this counts. It was cheaper to get it on contract (works out to about £8/month for 100gb data) than it was to buy outright and get a sim only - no brainer really. I wouldn’t do it otherwise.

 

[Mason-]

Only thing so far I've bought on a form of credit are:

My first car bank loan (paid off now)
A piano (bank loan, still ongoing)
My house (mortgage)

Everything else is paid out of savings etc.

Oh and echo above about using a credit card, I wouldn't really class that as buying stuff on credit because I pay no interest on it because I pay it off in full in a month.

 

[moon man]

Cash, including house and Car although have a cc for protection

 

[Jono8]

Only when i've got a new card with a 0% offer on purchases or balance transfers with no fee etc (had enough to buy outright, but at 0%, why wouldn't you..)

Otherwise no, only debt is mortgage.

 

[M1k3H]

I pay for all expenses, including larger ones via CC and pay off end of month.

Only exception was when we bought our house and had to furnish/buy appliances.

I got a 0% card to put most of the furniture/appliances on (which I rolled over to a low transfer fee 0% card 2 years later), and I basically planned to pay something like £100/month for 3-4 years until it was paid off. At the time I probably left a sum of money on the CC that I didn't pay off in full as we had so many expenses moving in.

Nowadays, paid off in full every month.

 

[andy_mk3]

Mostly credit for everything so far (I'm 29). But always used 0% cards and transfers. Only interest I paid is a bank loan for a car. I currently owe absolutely nothing though and plan on being more of a saver.

 

[Werewolf]

Technically everything i buy online is "on credit", however that's only because I don't use my debit card online so everything is paid for on a credit card that is then cleared at the end of the month.

 

[b0rn2sk8]

Only when i've got a new card with a 0% offer on purchases or balance transfers with no fee etc (had enough to buy outright, but at 0%, why wouldn't you..)

Otherwise no, only debt is mortgage.

I’m not sure why you would use a 0% card over a rewards card if you can afford to pay it back in full. I’d rather have 1% off nearly everything I buy than having the ability to pay for it over a year.

 

[dlockers]

I’m not sure why you would use a 0% card over a rewards card if you can afford to pay it back in full. I’d rather have 1% off nearly everything I buy than having the ability to pay for it over a year.

Instead of paying it off you put the money into savings. A bit righteous nowadays but it used to be an easy way of earning a nominal income. My record is about £25k? on 0% cards that had the money to pay it off in savings, but I know folk in the £65-70k bracket who continually BT the balance around and earn a decent sum in savings.

 

[robfosters]

I often buy things using my Monzo debit card. Then you have the option to spread the payments interest free over 3 months.

It’s handy because you can bu, then have a month to decide whether you’d rather split or not.

some things are bought on Cc, but it’s paid in full each month.

 

[dlockers]

And to OP, you need to remember there are some gucci belt wearing high earners on here, but it is all relative and you are potentially seeing a looking glass into several folks 'one time big spenny purchases'. When you scroll infinitely through the thread though it looks like everyone is a baller 24x7

 

[Janesy B]

I use my credit card for pretty much everything but pay it off at the end of the month. I used finance on my new sofa as it was useful to have the cash in my pocket for other things and it added nothing to the total cost.

 

[b0rn2sk8]

And to OP, you need to remember there are some gucci belt wearing high earners on here, but it is all relative and you are potentially seeing a looking glass into several folks 'one time big spenny purchases'. When you scroll infinitely through the thread though it looks like everyone is a baller 24x7

You say that but I have always put everything on a CC and then paid it off each month, even when I worked at Maccy D’s on a terrible hourly wage.

 

[dodg3rman]

Never had a credit card and neither has my wife. For longer term credit we had a mortgage once but that was overpaid and settled as soon as possible. Everything else was and is paid for straight away. I have an intense dislike for paying interest on anything and my wife is the same so we are a great match financially

 

[Captain]

I use a credit card, everything I buy whether it’s food, petrol or technology stuff it goes on the card and then gets paid in full at the end of the month. Just easier that way as my normal current account doesn’t have a ridiculous amount of transactions on it.

 

[Defy Belief]

Literally buy everything on my amex (Or at least where its accepted, thankfully is most shops now), 1% (Usually 1.75% with additional reward from insurance) back on all purchases is a no brainer, even luxury/expensive items, but only on the condition that I know I will pay it back within the month or two.

 

[SideWinder]

And to OP, you need to remember there are some gucci belt wearing high earners on here, but it is all relative and you are potentially seeing a looking glass into several folks 'one time big spenny purchases'. When you scroll infinitely through the thread though it looks like everyone is a baller 24x7

Mm very good point actually and didn't think of it that way, cheers.

 

[Siliconslave]

only 'credit' is the mortgage - I extensively use my credit cards, but always pay them off for the sweet sweet bonus points

 

[dlockers]

You say that but I have always put everything on a CC and then paid it off each month, even when I worked at Maccy D’s on a terrible hourly wage.

Not sure what that had to do with what I said - unless you are indexing on the fact OP asked is it on credit card? (with the clearly intended meaning of living outside of their means and chipping away at monthlies at horrendous APR).

 

[b0rn2sk8]

All I was trying to say is that it’s not just the ‘Gucci belt high revenue earners’ that can take advantage of credit cards. I’ve done it my entire life.

That said I’ve never needed to make a S.75 claim before but once my card was compromised somehow but the bank did catch it. That could have been rough if they didn’t and it was a debit card.