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

[Noxia]

Tell you what I'm worried about, Giant Wotsits are rarely less than £1.75 now, haven't found a decent alternative.

 

[GGizmo]

In my view credit cards are only useful if you are borrowing on them and paying it back in a reasonable time.

The only reason I use a credit card is for online purchases as it generally has more protection.

I'm not sure why someone would need 8 credit cards at the same time unless your debt was getting out of control?

 

[robfosters]

In my view credit cards are only useful if you are borrowing on them and paying it back in a reasonable time.

The only reason I use a credit card is for online purchases as it generally has more protection.

I'm not sure why someone would need 8 credit cards at the same time unless your debt was getting out of control?

My debt is nowhere near out of control. 6 of them are never used.

 

[the shadow]

Tell you what I'm worried about, Giant Wotsits are rarely less than £1.75 now, haven't found a decent alternative.

Hungry now

 

[Diddums]

I bought a cabin and paid by BT around 15k

Ok thats why I'm 29 and will have my mortgage paid off in 5 years

Lol.

 

[ProStreet]

Lol.

What's funny?

 

[200sols]

What's funny?

Surprised someone in the top 1% can't work that one out.

 

[ProStreet]

Surprised someone in the top 1% can't work that one out.

Or maybe you're misunderstanding.

 

[Diddums]

Or maybe you're misunderstanding.

Not just him, we're all misunderstanding. You're the only one who understands, we're all just NPCs in your game of life, screw all us haters amirite

 

[ProStreet]

Not just him, we're all misunderstanding. You're the only one who understands, we're all just NPCs in your game of life, screw all us haters amirite

Yes because I don't believe in credit cards i'm narcissistic.

 

[robj20]

I don't have any credit cards. They are a seriously bad idea.

People should go back to the old way - you buy what you have the money for!

You can do that with a credit card and still get the protections they offer. There really are some dim people on here.

 

[ProStreet]

You can do that with a credit card and still get the protections they offer. There really are some dim people on here.

Yeah it's not free. Most credit cards have annual fees. My debit card has chargeback protection and costs nothing.

 

[adam cool dude]

Never had a credit card and not planning to do so either. Just use Paypal if I need some protection. Always of the mind set that if I cannot afford it do not buy it.

Seems I am in the minority.

 

[ProStreet]

Never had a credit card and not planning to do so either. Just use Paypal if I need some protection. Always of the mind set that if I cannot afford it do not buy it.

Seems I am in the minority.

Minority thinking will lead to you being rich.

 

[sigma]

Never had a credit card and not planning to do so either. Just use Paypal if I need some protection. Always of the mind set that if I cannot afford it do not buy it.

Seems I am in the minority.

How do you sleep at night?

 

[sigma]

Or maybe you're misunderstanding.

Could you confirm which 1% you're in please:

To be in the top 1% of income tax payers in the UK (i.e. to be among the 310,000 individuals with the highest income), a taxable income of at least £160,000 is required.£236,000 is required to be in the top 0.5% and nearly £650,000 to be in the top 0.1%. 43% of adults pay no income tax and to be in the top 1% of all adults (or the top 540,000 people), a pre-tax income of at least £120,000 is required.

The top 1% of income tax payers are disproportionately male, middle-aged and London-based. A man aged 45–54 in London could be in the top 1% nationally while still needing a further £550,000 to be in the top 1% for his gender, age and region.

 

[HungryHippos]

Yeah it's not free. Most credit cards have annual fees. My debit card has chargeback protection and costs nothing.

Most of them are free.

There are some with yearly membership fees but they usually have higher rewards, however if you're happy with £0 fee and a bit less on the rewards side, you can do that and not pay any fee.

Never had a credit card and not planning to do so either. Just use Paypal if I need some protection. Always of the mind set that if I cannot afford it do not buy it.

Seems I am in the minority.

Paypal is hit and miss, I've had to go to Amex instead of Paypal a couple of times as Paypal weren't willing to help. Amex have on the two occasions I've needed to use chargeback in the decade or so I've used them.

 

[Anuruddha]

I’ve been recovering a poor credit record over the past few few years. I’ve gradually built up a collection of cards with improving rates each time, and I now have a prime card.

I now have about 8 cards. Now I actually have a decent card, is it worth me binning off some of the credit builders with silly rates or keeping them so my available credit stays up and my utilisation remains low? Can you have too many credit cards? Most of them will never be used again. Grateful for any guidance from you finance savvy bunch.

It's not a good idea. I don't use any CC but only debit cards. I know how much rich I am

 

[Raymond Lin]

Never had a credit card and not planning to do so either. Just use Paypal if I need some protection. Always of the mind set that if I cannot afford it do not buy it.

Seems I am in the minority.

What if they don't take PayPal, or in my case, PayPal refused my claim but Amex did?

 

[200sols]

Never had a credit card and not planning to do so either. Just use Paypal if I need some protection. Always of the mind set that if I cannot afford it do not buy it.

Seems I am in the minority.

Section 75 trumps paypal everytime.