Credit Cards

Pay the mimimum each month and make sure you have a second card for when you can no longer afford the minimum - they then pay for themselves.
 
horses for courses. my cashback card gets paid off monthly, my balance transfer card gets paid off as and when (minimum payment is always paid ofc)
 
Pay off whatever costs the most to borrow on first. If you are in your overdraft at a higher interest rate than your card, don't pay off your card. If you have a 0% card, make the minimum payment each month and pay off the balance when the promotional rate expires. If you have cash sitting in the bank and you are earning less interest on it than the interest rate of your card, pay it off.
 
Jono8 said:
Well im sure it would have come with a 0% on purchases as an introductory offer, so whatever you can afford until that runs out?

I just got my first one aswell and it came with 9 months 0% interest on purchases so i will pay it off bit by bit (obviously always making he minimum payment).

Slapped my car insurance onto it :o:p
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Damn I never thought of that, my renewal isn't far off! good thinking! :)
 
Pay mine off bit by bit each month but then mines just been transfered onto a 0% HSBC card. The great thing is my mrs works for the bank so I got me a staff card witch has silly low interest when the 15 months interest free period is up, also no late or missed payment charges with this card :)
 
Neither, I just sort of buy things and pay off usually within a 2 or 3 weeks. Whats this on my Nationwide Credit card?

PAYMENT PROTECTION INS £1.26
 
PMKeates said:
Pay off whatever costs the most to borrow on first. If you are in your overdraft at a higher interest rate than your card, don't pay off your card. If you have a 0% card, make the minimum payment each month and pay off the balance when the promotional rate expires. If you have cash sitting in the bank and you are earning less interest on it than the interest rate of your card, pay it off.
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just so people know, Tescos credit cards automatically pay off the highest interest rate item on your card when you make a payment instead of paying off the things in the order that you bought them.
 
Guest2 said:
Whats this on my Nationwide Credit card?

PAYMENT PROTECTION INS £1.26
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I just had ~£500 worth (9 years worth) of PPI refunded back because I complained I was miss sold, I had no idea I ever took the insurance out. You might want to look into it if you think you was miss sold or don't recall asking for it.
 
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Wizzfizz said:
I just had ~£500 worth (9 years worth) of PPI refunded back because I complained I was miss sold, I had no idea I ever took the insurance out. You might want to look into it if you think you was miss sold or don't recall asking for it.
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Yeh i never bought into any sort of payment protection insurance. I'll go into bank next week and cancel it
 
I pay mine off every month, doing anything but is just asking for trouble. (unless it's 0%, etc...)
Mine are automatically monthly from my accounts though, so I don't really have a choice :p
 
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