Anyone not use a credit card ?

I've been using credit cards since university, but always pay it off in full. Now that I've started working I use a credit card where ever possible, mainly because it's a cashback card. I've also got a secondary credit card in case I can't use my main one, due to it being AMEX.

I like the secruity of using a cc, the cashback (obviously) and the statements which show clearly what I've spent on a month to month basis.
 
I never had one as a student because I dont think it was necessary, but now that im working I have one simply because its safer for use abroad and mine offers me extended warranty on certain electricals if I buy using it which I find useful. Always pay it off immediately though, never actually owed anything on it.

Hawker
 
lemonkettaz said:
I don't understand them. But I feel like I'd like one lol. It takes too much time to save up the cash up front.

Wouldn't know what to look for in a cc
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You really don't want one. It's not free money. If you can't save up for what you want or at least be able to save up by the end of the month, CC's are not for you.

I've got 3 at the moment because I moved to the Tesco CC recently. I use one exclusively online and the other I use for pretty much every purchase from a pint of milk upwards. It all gets paid off at the end of the month.
 
Got two credit cards, a Natwest Platinum one since i left uni (which i'm going to bin now) and the other (a Capital One 1% unlimited cashback card) i just got.

I have no problem managing them and i pay them off every month - i use my credit card for every possible thing i can so that it's easier to keep a track of spending AND because i now get 1% on it.

I really don't get the whole "i don't want to go out and spend money i don't have" thing? I know a few people that have done this and they know they are spending what they don't have but put it to the back of their mind and bury their head in the sand. If you simply....don't do this, you'll be fine.
 
lemonkettaz said:
I don't understand them. But I feel like I'd like one lol. It takes too much time to save up the cash up front.
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You sound like the exact kind of person that should not have a credit card. You seem to think it's an easy route to easy money. And it is....for a month until you have to pay it back.
 
I got a student one at University although it's due to run out soon so I don't know what happens to it after that :p

I only got it since at the time I only had a Maestro and there were a few things that I was wanting that only took a Visa/Mastercard. Now I have a Visa debit so it's less of an issue but I got an extra charge on that recently for buying something in $$ so I think there's still use for the credit card.

I also pay off any charges extremely quickly. Probably within a week and only occasionally do I end up with a statement saying I need to pay them money. Have always paid off the card in full each month no-matter what. Does anyone know if paying off the card very quickly is good for your credit rating (you did pay it off quickly after all!) or is it bad since you don't get anything on your monthly statement?
 
I'm a student and I have one which I use regularly. It's more secure for online stuff, it means that I don't have to pay immediately* and it helps me get a credit rating, all without costing me a thing. There's no downside...

* it gets paid automatically when it's due, so costs me nothing.

Credit cards are only a bad thing if you are a spacko who thinks that because they can spend £1k a month on it, they should.
 
To the people who think CCs are too good to be true:
http://en.wikipedia.org/wiki/Credit_card#Costs_to_merchants

The merchant pays the CC company for the privilege of accepting your CC. The CC company will make money regardless of whether you pay them any interest.

http://www.moneysavingexpert.com/ is quite useful for information on different cards - credit rating builders, cashback or loyalty points, 0% interest on purchases or balance transfers.

Personally I use a Tesco CC, have a 5k limit (which I've spent) with 0% interest on purchases for 13 months. This 5k which I haven't spent on debit, is now sitting in the bank earning me money, whilst also having earnt me clubcard points, which paid for my girlfriend's watch for christmas.
Would you like some free money? Yes please.
 
Sadly, it's the only way to easily and quickly build some kind of Credit Rating and History - of course, getting loans also go some way, but a Credit Card is a better option as you won't necessarily accrue any interest if you keep within the repayment period (i.e. 30 days).

I usually use it for Internet Purchases, but I don't buy stuff just for the sake of it, I only bother buying it if it's a true want/need thing (i.e. I couldn't live without it, it's worth getting or I can afford it).

The biggest danger is running up debts that can't possibly be paid off.
 
My wife has never had a credit card (she is in her forties) and manages just fine.

I've had a love hate relationship with credit cards in my time. I have one but only for the cover it brings on big purchases.
 
billysielu said:
Everyone should have a credit card - for this reason if no other:

If your debit card gets stolen - your money is spent.
You have to go through a claims process to get the money back.
In the meantime- you don't have this money.

If your credit card gets stolen - the bank's money is spent.
You don't have to worry about it.
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Quoted for the truth! -

I had my debit card cloned a couple of weeks ago (well my bank account was emptied via my debit card)

My Step Dads was cloned 6 months ago, and my Aunts twice in one year.

They all use, including myself, a credit card for anything they purchase, as if that gets cloned you're not out of pocket.
 
Its not a case of I couldnt pay it back monthly, thats probably what I'd do.

Just for those nice purchases that need to be made from time to time :) like a laptop... maybe get now pay in a month or 2 time is more suitable
 
I don't need a credit card, it's just nice to have one. People who spend on credit cards who don't have the funds to pay them off give credit cards a bad name.

MW
 
Disco Boy said:
So? The merchant doesn't (directly) pass on that cost to us.
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His point couldnt be any more clear if he'd tried.

Buy a £100 item, pay it off on the due date. Credit Company gets NO interest from you but its wrong to say they dont profit from you - they take money from the merchent for the sale. So, profit is generated for the CC company as a result of your purchase.

He is arguing against those who think credit card companies only want people who never pay back on time.
 
Gaygle said:
You sound like the exact kind of person that should not have a credit card. You seem to think it's an easy route to easy money. And it is....for a month until you have to pay it back.
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I've told this story before, but here goes... My sister used to do customer support for MBNA and used to frequently get calls from utter retards with the most insane credit card problems. The one I remember her telling me was a woman calling up saying "My card has run out. I can't buy anything more with it. I need a new one". She literally did not get that she had to pay back the money and that she couldn't just magically buy stuff forever with this card.
 
Being in the position of being up to my eyes in debt, my own fault, got way over-commited on credit, but have learnt from my mistakes. After I have paid off my debts, which I beleive will be in about 5 years time at the current rate of repayment, as soon as I can I will be getting another credit card. Purely and simply for building my credit history up again. It will be used only for my routine purchases, e.g. Fuel, basic weekly shopping etc. and will be paid off in full at the end of every month.

I was asked by somebody the other day how I could guaruntee that I would have the full amount at the end of the month, my answer was simple, by using it for routine purchases. I would have to buy fuel and basic shopping every week anyway, so by putting the money to one side I know it will be there at the end of the month.
 
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