Anyone not use a credit card ?

Makhaira · 23 Dec 2010 at 13:02

Wouldn't go near one with a barge pole, and hopefully won't have to with how much more widely accepted most debit cards are these days. I'm firmly against borrowing, so if I can get through life without, I will!

SilverTongue · 23 Dec 2010 at 13:05

Makhaira said:
Wouldn't go near one with a barge pole, and hopefully won't have to with how much more widely accepted most debit cards are these days. I'm firmly against borrowing, so if I can get through life without, I will!

So you never want to own a house?

geekyEd · 23 Dec 2010 at 13:05

Got one on the advice of my bank while at uni, I use it for petrol and pay it of every month, its a great way of keeping track of how much it costs to fuel the car.

chriscubed · 23 Dec 2010 at 13:38

[TW]Fox;18061433 said:
His point couldnt be any more clear if he'd tried.

...

He is arguing against those who think credit card companies only want people who never pay back on time.

Thanks! Did wonder how I was going to explain it any better..

SexyGreyFox · 23 Dec 2010 at 18:17

SilverTongue said:
as soon as I can I will be getting another credit card. Purely and simply for building my credit history up again.

Won't a debit card do that?
Me and Mrs Dimple have never had a Credit card but we have a massive rating.

[TW]Fox · 23 Dec 2010 at 18:35

dmpoole said:
Won't a debit card do that?

No, unless you have an overdraft or something there are no credit facilities on a debit card.

Me and Mrs Dimple have never had a Credit card but we have a massive rating.

Because you own a home and have paid off a mortgage every month for decades, I would imagine.

Any form of borrowing with succesful repayments will build a credit rating - credit cards are just the easiest form for most people to obtain.

SexyGreyFox · 23 Dec 2010 at 18:50

[TW]Fox;18063970 said:
No, unless you have an overdraft or something there are no credit facilities on a debit card.

Because you own a home and have paid off a mortgage every month for decades, I would imagine.

Any form of borrowing with succesful repayments will build a credit rating - credit cards are just the easiest form for most people to obtain.

Ta.
I don't really do money, that's Mrs Dimples job.

koolpc · 23 Dec 2010 at 18:55

46 now and i have never used a credit card!!

Deleted member 11679 · 23 Dec 2010 at 19:43

I have Sony Credit Card that I purchase everything through. I pay the balance off each month and as such about every 18 months I get a nice expensive freebie from Sony :cool:

.

Last time it was a very nice Hi-Fi system.

Gas Panic! · 23 Dec 2010 at 19:58

I have had the LloydsTSB Airmiles duo cards (AMEX + MasterCard running off the same account) for just over a year. It's fantastic. I've accrued enough points for a free flight to anywhere in zone two (most of Europe).

Before that I had (and still have, but never use) a Barclaycard. There's no reward scheme for using it, so I keep it for emergencies.

I've paid interest twice, but that was at the end of my gap year when money was running short. It got me through a month before I got a job and was able to pay off what I owed.

[TW]Fox · 23 Dec 2010 at 20:39

utajoker said:
ive managed 24 years with just using debit card.

You used a debit card when you were 2 years old? 5 years old?

In reality, the most you've really used one for is about 6-8 years.

i did end up getting one a few months ago 2 days before the tv broke so got a new one on that.

mine and fiancées plan now is to pay them off,

This is how people get into trouble with them. They view them as a way to buy things they cannot currently afford. This is where bad debt comes from.

buchtis · 23 Dec 2010 at 20:42

Debit all the way, I always have enough money in the bank to outright buy whatever I want anyway without paying monthly interest.

[TW]Fox · 23 Dec 2010 at 20:51

buchtis said:
I always have enough money in the bank to outright buy whatever I want anyway without paying monthly interest.

Me too.

I still buy them on credit cards. I've never incurred interest.

mjt · 23 Dec 2010 at 21:11

I've got 2 VISA debits and 2 Maestros.

I've also got two more VISAs, but they're billed automatically at the end of the month.
That's not strictly a credit card though is it, as their linked to my accounts and I can't stop the payment.

DBT85 · 23 Dec 2010 at 21:35

buchtis said:
I always have enough money in the bank to outright buy whatever I want anyway without paying monthly interest.

So does everyone else here. The difference is Tesco pay me about £40 a quarter to use the Cradit Card which i then change up for £120 restaurant vouchers. Its only Strada, Bella Italia and Café Rouge but the food is nice and its essentially free.

PumpkinSteve · 23 Dec 2010 at 21:37

I've never had a credit card and don't think I've ever been offered one, I do get the usual junk mail from the CC companies but just chuck it straight in the shredder without opening.

Lunatic Dreyfus · 23 Dec 2010 at 21:40

I have one Visa, which I haven't used in about 2 years. I don't intend too either. Debit card now.

Racked up too much debt in the past on those things and it took far too much time to pay off.

Last time I checked my credit rating was superb though.

Disco Boy · 23 Dec 2010 at 21:40

[TW]Fox;18061433 said:
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.

chriscubed said:
Thanks! Did wonder how I was going to explain it any better..

Well it was both clear and something which I already knew, but my point was it doesn't make any difference to me the customer whether or not the CC company are making any money out of me.

Dup · 23 Dec 2010 at 21:41

Raymond Lin said:
I got one, in fact, I for quite deep into debt, minimum payment each month was over £120. I kept paying bit and bit and my limit skyrocket, and i got further into debt.

Oaid it all off this year and not used it since but they are good for getting good credit rating...which i suspect i have by doing what i did.

Likewise. Will be paid off at the end of Jan, great start to the new year and a sign of things to come. Looking forward to it!

Steve2000 · 23 Dec 2010 at 22:39

I've had credit cards for years and years. We've never really been in debt, I've just always used them to buy things now and pay at the end of the month, always paid them off on time. Plus they are handy to have whenever we've been away, or for those "just incase" times.

Anyone not use a credit card ?

Deleted member 11679

Deleted member 11679