I want a credit card!
- Thread starter SideWinder
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Soldato
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Nope, I don't want a credit card - mainly as I'm a student and don't have enough credit, and have enough debt already without having to worry about silly interest rates for useless trinkets I bought on impulse.
dirtydog said:What's wrong with Mastercard?
Amex are not accepted everywhere but Mastercard usually are. (I have an Amex myself.)
I've never had my AMEX refused anywhere, and you get the advantage of having a charge card rather than a credit card, well worth the annual fee IMO.
pfft mastercards are for losers!
There are plenty of places which don't take Amex cards, unfortunately. The reason is because they charge the merchant a higher rate of commission than do Visa or MastercardDAVEM said:I've never had my AMEX refused anywhere, and you get the advantage of having a charge card rather than a credit card, well worth the annual fee IMO.
pfft mastercards are for losers!
Oh and not all Amex cards are charge cards.
![[TW]Fox](/data/man-of-honor/2009.png){kind=avatar}
dirtydog said:Absolutely. Although I would be wary of taking advice on financial matters from someone who had never moved out of their parents' home
And I would be wary on taking advice on financial matters from somebody who is far from a success financially
Given that one of the comments made was that if you are a student you should not have a credit card, I felt my opinions were relevant
dirtydog said:There are plenty of places which don't take Amex cards, unfortunately. The reason is because they charge the merchant a higher rate of commission than do Visa or Mastercard
Oh and not all Amex cards are charge cards.
Yeah I know, but charge cards have to be better than credit cards, just like a debit card really but with added benefits. No danger of debt!
Seriously never had one place refuse my AMEX, and I get nice Nector points when I use it!
D
Hehe[TW]Fox said:And I would be wary on taking advice on financial matters from somebody who is far from a success financially
Incidentally, in response to your frequent questions about my job, I did tell you once what I earn and it is probably still in the forum database if you search. I have never made a secret of the fact that I am low paid and have a 'crap' job but you might consider the possibility that the situation suits me just fine I guess I can concede thatGiven that one of the comments made was that if you are a student you should not have a credit card, I felt my opinions were relevant
Yeah I use my Amex purely to get the Nectar points. I always pay it off in full each monthDAVEM said:Yeah I know, but charge cards have to be better than credit cards, just like a debit card really but with added benefits. No danger of debt!
Seriously never had one place refuse my AMEX, and I get nice Nector points when I use it!
D
They take it in Tesco and Shell which is where I use it most.dirtydog said:Yeah I use my Amex purely to get the Nectar points. I always pay it off in full each month
ha ha I can't remember the exact details but I seem to remember one of my friends parents buying two cars for him and his sister and somehow getting LOADS of nectar points this way, I just remember him using the points at Sainsbury's for some awesome food shopping,
Wish I had rich parents!
I dont know why so many people are so strongly anti-credit card here! They are very useful for a number of things. . .
Some example situations:
> Making a large purchase on the internet - credit cards give you added protection compared to using debit cards
> Emergencies. My car has just broken down, in France and I need to get home for my grans birthday. I get paid next week and I dont have the £1500 needed to repair the car in my debit account. A credit card comes in very handy here!
> Use as a backup card incase my debit card breaks (which is certainly possible with the chips they use these days)! This is easier than opening 2 debit accounts and making sure both have money in!
Provided you manage them well, credit cards are undoubtedly very useful.
Some example situations:
> Making a large purchase on the internet - credit cards give you added protection compared to using debit cards
> Emergencies. My car has just broken down, in France and I need to get home for my grans birthday. I get paid next week and I dont have the £1500 needed to repair the car in my debit account. A credit card comes in very handy here!
> Use as a backup card incase my debit card breaks (which is certainly possible with the chips they use these days)! This is easier than opening 2 debit accounts and making sure both have money in!
Provided you manage them well, credit cards are undoubtedly very useful.
My post was a shameless snipe in response to your posts to me in the same vein[TW]Fox said:I thought that was only possible when you lived at home
Of course it is possible for anyone, regardless of how poor to pay their credit card bill off in full each month, and vice versa; it depends entirely on how much they spend. Personally I spend less than £100 a month which consists mostly (or entirely) of food (etc) and petrol.
dirtydog said:Absolutely. Although I would be wary of taking advice on financial matters from someone who had never moved out of their parents' home
It's common sense, just buy the stuff and pay for it at end of month. This is how my fuel card works. And like credit cards you can get benefits (eg 2p off each litre for me).
Much better to leave the cash in your account too for cashflow.
[TW]Fox said:
That would make the whole point of a credit card pointless, I want to buy a LCD tv for £800 but I have the cash but I will get it on credit card then pay it off after the first month.
Most cards offer 6 months interest free, so every month pay of 16.6% and by the end you will have earned a bit of interest on your money saved in your bank account.
Yeah credit cards are good for cash flow as you say. Most of them have an interest free credit period so you can defer payment for a while, whereas with a debit card the money comes out of your current account straight away.Simon said:
cheets64 said:
No it wouldn't. You buy on a credit card and you get increased consumer protection, you can benefit from cashback deals, you get insurance, you increase your credit rating.
Credit cards are not just to help you buy things you dont actually have the money for.
Interest free cards are different - I'm talking regular cards without such an offer.
I'm 18 and my parents gave me an additional card on their account.
I've got two credit cards now, and I think it's good as I can buy stuff etc without carrying cash around. As long as you have control then having credit cards is fine.
I've got two credit cards now, and I think it's good as I can buy stuff etc without carrying cash around. As long as you have control then having credit cards is fine.
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Just been talking to a guy here about this thread, as he's always on about the credit cards he has, and he jumps from one to another to take advantage of 0% rates. He just showed me the stash of them he has in his wallet. Hiss total credit limits for all of them is................................
£143,000 WTF
£143,000 WTF