Are you getting a discount for using a debit card?
Too many credit cards? aka "The Credit Card thread"
- Thread starter robfosters
- Start date
Well d'uh, but you are paying those regardless.
Man of Honour
How do you pay people then as never mind how you pay the business either needs to pay to deposit the cash, pay the merchant fee, pay to run their business banking. You're paying for it and getting nothing back.
Soldato
Mortage free 2 years ago , have a 997 in the garage for sunny days.
Just a shame about by beer belly
That used to be the case, not anymore.
So you have all of the negatives yet none of the positives. I'm impressed.
Caporegime
What's with this moral high ground angle you are on now? is it because you can't argue on facts?
You don't want a credit card, good for you...but this is lame trying to move the goal posts of what they do, legally, for fraud and also good for those using is the right way.
By trying to guilt trip those with GOOD financial responsibility using a credit card the right way? Pathetic.
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Soldato
Who ever said about protection? It's about cost. There is no such thing as free credit. Sure, there are ways to minimise the cost, but I think the majority of people don't follow the rules all the time.
As far as protection is concerned, I get that with my debit card. I also have the peace of mind of knowing that no matter what happens, I don't owe anyone any money.
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That's right. Used correctly it is actually "profitable" credit
But attacks on either side are silly. Debit cards have stepped up significantly but Credit is still king. You are right it needs people to follow the rules.
Caporegime
Legally you are in a weaker position as S.75 does not apply to Debit Card.
If the bank wants to get out of paying you back for fraud…they will, with no legal consequences.
With credit card, they have never kick up a fuss, in facts, far too easy! Or that might just be Amex Customer Service.
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Soldato
If the credit you use is short term and paid in full monthly, then there is no cost to you, it's free credit.
Its only not free if you don't pay it down, which you can avoid with maximum payment DD configuration.
It's never cost me a penny for my credit cards.
Soldato
Ah thanks for letting me know and @Raymond Lin
sounds like I need to get rid of the Halifax clarity then as I used to use it even last year to take cash out in Berlin.
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Caporegime
I don't have a bad credit score, I own my own home outright and I work full-time yet when I applied for an Aqua card...
I can remember we went into HSBC they said we couldn't afford our mortgage. Even though we were putting down 25% deposit and it was less than the rent we were getting and the ladies answer was to get some credit cards to improve my credit score.
My house is 80% payed off. 0 debt and decent 5 digits in savings. Yet I know if I applied for a decent credit card I would more than likely get refused also.
Soldato
Well, you travel your road, and I will stick to mine. Let's hope you don't fall down the rabbit hole one day.
Caporegime
They need to know that you are responsible with credit, how much you own in possession is not really the criteria. As the debt on credit cards are not the same as a mortgage for a house. What's the term...i forgot. Oh yes, Unsecured and Secured loans. Credit card is unsecured, so it's harder for them to get it back, vs a secured loan.
The only way really to improve your credit score is actually use credit, since having a million quid in the bank doesn't show them how you would do when given credit, are you going to just do a runner?
I too are near the end of my mortgage and too have 5 digits in savings, i have no car repayments, i buy nothing with any kind of repayment plan. Even though i see lots of "spread your purchase in 3 payments with 0%". I just pay it off.
Think of it as buying THROUGH credit card, rather than buying WITH credit.
Commissario
Okay, that seems like a reasonable reason to apply for one. I don't buy much overseas in a different currency online but when I do, I try and use my Paypal account and fund it straight from the Monzo account. I made a mistake once and did PayPal via the AmEx card and got a currency exchange fee which annoyed me a bit as it was a fairly substantial amount.
Soldato
What rabbit hole do you foresee?
I have more than enough in my debit account to pay for any credit I accrue throughout a month, and I typically know to within £100 or so how much my CC balance is.
I save up and buy stuff just like all of the anti-CC crew, I just pay via CC and then pay it off monthly. I paid for my solar installation via CC but I had the cash in the bank to cover it, and I got £60 cashback doing that + the CC protection.
I have never paid a single penny in CC interest because I pay it off automatically with full balance DD payment, without manual intervention.
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Caporegime
We buy THROUGH credit cards. The only extra step is to do a transfer of funds once a month to the credit card from my account.
We don't let the credit card balance carry over....do people even know what this means?
I bet they don't.
I have money to buy it with debit card, but I choose not to as it's unnecessarily put my actual bank account out there. And I want legal protection, and bonus that I get cash back.
Rabbit hole? rabbit hole of good financial responsibility and money management! Keeping money in my own account longer!
We don't let the credit card balance carry over....do people even know what this means?
I bet they don't.
I have money to buy it with debit card, but I choose not to as it's unnecessarily put my actual bank account out there. And I want legal protection, and bonus that I get cash back.
Rabbit hole? rabbit hole of good financial responsibility and money management! Keeping money in my own account longer!
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