Is things really this bad already??

tuftyfella said:
i don't like credit cards, never owned one and i never will. as far as im concerned, if you can't afford something...don't buy it.
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It's good to get the credit rating up. It CAN be used sensibly.
 
Jez said:
Its about monthly spend, i dont earn mega bucks yet have had a platinum card with natwest for a good year or so now, due to large monthly spends which always got cleared (business expenses during large customer rollouts)
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I have some platinum cards with both a low monthly spend and a low income... albeit I was 'upgraded' to all of them rather than getting them straight away.
 
dirtydog said:
I have some platinum cards with both a low monthly spend and a low income... albeit I was 'upgraded' to all of them rather than getting them straight away.
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I'm not sure Plat cards are that worthwhile TBH. I have plat cards, but the credit limit differences between two plat card owners can be massive
 
iCraig said:
Credit cards are perfectly safe and reliable forms of payment if you're sensible with them.

Idiots who spend more than they earn, give them a bad reputation.
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Looks like the idiots outnumber the sensible people by far!
 
cleanbluesky said:
Things ARE that bad my friend, those who can control their credit rating will become Kings within a decade
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cleanbluesky posted in one of my threads and didn't flame me! :D

/does happy dance/
 
*Moangroan* said:
I use my credit card all the time and then pay it off at the end of the month....there is nothing wrong with credit cards....
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Exactly and you get extra protection from using them.
 
cleanbluesky said:
I'm not sure Plat cards are that worthwhile TBH. I have plat cards, but the credit limit differences between two plat card owners can be massive
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One of mine has a £500 limit :D And my highest-limit card is not a platinum one. The name or colour on the card is meaningless really isn't it.
 
tuftyfella said:
i don't like credit cards, never owned one and i never will. as far as im concerned, if you can't afford something...don't buy it.
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I own one credit card, which I use for online transactions.
I always have enough money to cover the purchases and then pay it off in full every month.
Credit cards are great to have, but its down to the individual to be responsible with what they spend and whether they can afford it.
 
iCraig said:
Credit cards are perfectly safe and reliable forms of payment if you're sensible with them.
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Exactly. Some people seem to think it's free money and spend like there's no tomorrow. :rolleyes:

I have a credit card for emergencies. Once or twice (in over 2 years) I've used it for extra security and pay if off in full the next month. Otherwise I use my debit card as I only want to spend cash I actually have.
 
I always use cards, never cash.
If some places still don't accept them then they damn well need to catch up, even the post office is catching on and that's one of the most olde worldy places you can go to! :D
 
regulus said:
Out comes the old happy card. Swipe...denied. Puzzled, but out comes the next card...denied. Next....denied. Next....denied.
She then pulls out the whole war chest and I swear to God, there were something like 20 credit cards
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That tells me she can't afford what she's buying, why have so much credit if you're able to pay it off monthly. Sad thing is that she'll probably end up declaring herself bankrupt and having most of the debt written off.

The days of the "no annual fee" card are drawing to a close :mad: as a result.

Jokester
 
Jokester said:
That tells me she can't afford what she's buying, why have so much credit if you're able to pay it off monthly. Sad thing is that she'll probably end up declaring herself bankrupt and having most of the debt written off.

The days of the "no annual fee" card are drawing to a close :mad: as a result.

Jokester
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But is it that easy to get away by declaring bankruptcy? Surely it aren't otherwise everyone will do it.
 
regulus said:
But is it that easy to get away by declaring bankruptcy? Surely it aren't otherwise everyone will do it.
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The rules were changed recently to make it a lot easier, and as a result there's been a huge surge in people declaring themselves bankrupt and effectively writing off massive credit card debts.

The credit card companies obviously want to get this cash back, but rather than be more careful who they give cards to, they're going to screw the honest man on the street who can pay for more cash, ie the likely return of annual fees.

Jokester
 
regulus said:
http://www.creditaction.org.uk/debtstats.htm

I think you'll find that it's becoming more true everyday
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I think you'll find that's the same as saying it's untrue.

Can't find anywhere where it says the financially inept outnumber those who are acting in a sensible manner...never mind 'by far'. I suspect those who are in good shape still out number the spendthrifts.


'Average owed by every UK adult is £26,971 (including mortgages)'

Funny that...that is almost exactly what my debt is at the moment (99% of it mortagage). :)

I notice it dosen't say what the average asset of every adult in the UK is (including houses).
 
Jez said:
Its about monthly spend, i dont earn mega bucks yet have had a platinum card with natwest for a good year or so now, due to large monthly spends which always got cleared (business expenses during large customer rollouts)
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No it was her first credit card which she opened at the same time as opening a regular Llyods TSB savings account.
 
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