Too many credit cards? aka "The Credit Card thread"

dLockers said:
I turn off the minimum payment direct debits and do it manually, as I found they were requesting payment via DD way before the due date. I also keep most of my current acc balance in savings/earning interest so often there is jack all in my CC so I stay in control this way, too. Obviously requires discipline but I check my finance Excel and all 8 of my accounts every single day.
Click to expand...

Ah gotcha, I just ring them up and change the DD date.
 
Greebo said:
I have yet to have a CC with an annual fee..............
Click to expand...
Only one's I can think of are affiliated to hotels, airlines or mileage rewards, I do pay £60 a year for my Amex Green chargecard but get that back and more with Membership Rewards points and the discounts offered in the app. None of my other cards attract a fee.

Somewhat ironically my Debit card comes with a £13 a month fee (Nationwide, worth it for the breakdown and mobile phone cover as well as the travel insurance).
 
Last edited:
OllyM said:
imXAiza.png
Click to expand...

Poor. Mine is 999 on experian and I aint even in the top 1% earners!!!!
 
A few years ago I was one of those people proud not to have any credit cards. But times change and I decided that it might be a sensible idea. I now have an Aqua card, a Halifax card and an AmEx British Airways card. I got them in that order and over all three, I now have around £18,000 available credit if I need it at various interest rates. The interest rates don’t concern me as I won’t use a card unless I have the money available and as soon as use a card, I transfer the money into the appropriate pot in my Monzo account and the bill is paid in full by direct debit each month.

I use the AmEx card as my first choice and the Halifax card as my second choice if someone doesn’t take AmEx. I guess I do anything from £500-£700 on the cards each month.

I only got ehe AmEx originally because I needed to buy something from the USA and they’d only take a card drawn on a USA bank. The AmEx seemed the obvious choice.

I have no need for any 0% balance transfer cards or 0% interest cards as I won’t use the card if I don’t have the money available.

In a few months I’ll look at a Clarity card for international stuff.
 
Feek said:
A few years ago I was one of those people proud not to have any credit cards. But times change and I decided that it might be a sensible idea. I now have an Aqua card, a Halifax card and an AmEx British Airways card. I got them in that order and over all three, I now have around £18,000 available credit if I need it at various interest rates. The interest rates don’t concern me as I won’t use a card unless I have the money available and as soon as use a card, I transfer the money into the appropriate pot in my Monzo account and the bill is paid in full by direct debit each month.

I use the AmEx card as my first choice and the Halifax card as my second choice if someone doesn’t take AmEx. I guess I do anything from £500-£700 on the cards each month.

I only got ehe AmEx originally because I needed to buy something from the USA and they’d only take a card drawn on a USA bank. The AmEx seemed the obvious choice.

I have no need for any 0% balance transfer cards or 0% interest cards as I won’t use the card if I don’t have the money available.

In a few months I’ll look at a Clarity card for international stuff.
Click to expand...
Barclaycard trumps Clarity now fyi.
 
Buffman said:
Why? I Have a clarity for abroad trips
Click to expand...

Barclaycard Rewards credit card | Barclays

Get 0.25% cashback on all your everyday spending with a Barclaycard Reward credit card, plus no transaction fees on purchases abroad. Apply now.
www.barclays.co.uk www.barclays.co.uk

No fees aboard and cash back.

Clarity doesn’t have cash back. Tiny difference but difference nevertheless.
 
Greebo said:
Plus you only have to pay a deposit of £100 by credit to be covered for the full amount so in yoru cabin case you could have done that and paid £14,900 by BT and you would have been covered under section 75. Must less stressful and then you are full protected.
Click to expand...
Not even that, you can pay a quid on your CC as long as the full purchase value is over £100 then you're covered.
 
Buffman said:
Why? I Have a clarity for abroad trips
Click to expand...
Raymond Lin said:

Barclaycard Rewards credit card | Barclays

Get 0.25% cashback on all your everyday spending with a Barclaycard Reward credit card, plus no transaction fees on purchases abroad. Apply now.
www.barclays.co.uk www.barclays.co.uk

No fees aboard and cash back.

Clarity doesn’t have cash back. Tiny difference but difference nevertheless.
Click to expand...
Clarity also removed holiday ATM cash 'interest free' - it gets hit with cash advance interest. BC does not. Clarity used to be like this.
 
smeemi said:
Yeah it's not free. Most credit cards have annual fees. My debit card has chargeback protection and costs nothing.
Click to expand...
I have two credit cards neither have cost me a penny in the 20+ years I've had them.
I've used both for section 75 claims, I've used once extensively abroad to get the best exchange rate.
I've made the most of any cashback offers.
Seriously it takes a dim person to ignore the benefits and say that all credit cards cost you money and make you have debt.
That's the fault of the person using the card not the card itself.
 
robj20 said:
I have two credit cards neither have cost me a penny in the 20+ years I've had them.
I've used both for section 75 claims, I've used once extensively abroad to get the best exchange rate.
I've made the most of any cashback offers.
Seriously it takes a dim person to ignore the benefits and say that all credit cards cost you money and make you have debt.
That's the fault of the person using the card not the card itself.
Click to expand...
The benefits you're getting are paid from people who go into debt and pay extortionate interest. If you can tolerate that morally then good for you.
 
smeemi said:
The benefits you're getting are paid from people who go into debt and pay extortionate interest. If you can tolerate that morally then good for you.
Click to expand...
Transaction processing fees play a big part in how the rewards work. Years ago Mastercard used to provide 1% cashback readily (CapitalOne etc) but the EU put a lid on the charges which meant the cashback all but evaporated overnight. AMEX have their own network and charge a higher merchant fee so it is why they've continued to make the higher cashback offers.
 
dLockers said:
Transaction processing fees play a big part in how the rewards work. Years ago Mastercard used to provide 1% cashback readily (CapitalOne etc) but the EU put a lid on the charges which meant the cashback all but evaporated overnight. AMEX have their own network and charge a higher merchant fee so it is why they've continued to make the higher cashback offers.
Click to expand...
Yes and who do you think pays for the processing fees? The retailer passes it onto the consumer. Nothing is free.
 
You must log in or register to reply here.
Back
Top Bottom