Who doesn't have a credit card

[SystemParanoia]

p1stonhead said:

SystemParanoia said:

none here.
if i cant afford it.. then i cant afford it. A CCard with 50% apr and a heafty peanalty for cash withdrawls doesnt help anyone

Yeah but no one has a card with such ridiculous terms.

And it's not in any way about not being able to afford things.

ok.. but 35% is still a kick in the teeth

[djc206]

SystemParanoia said:

p1stonhead said:

SystemParanoia said:

none here.
if i cant afford it.. then i cant afford it. A CCard with 50% apr and a heafty peanalty for cash withdrawls doesnt help anyone

Yeah but no one has a card with such ridiculous terms.

And it's not in any way about not being able to afford things.

ok.. but 35% is still a kick in the teeth

Only if you run a balance.

Each year we fly somewhere nice in business class for the cost of an economy ticket thanks to my cards. No balance, no interest and don't take cash out but very tangible rewards.

[bmwmike]

djc206 said:

Only if you run a balance.

Each year we fly somewhere nice in business class for the cost of an economy ticket thanks to my cards. No balance, no interest and don't take cash out but very tangible rewards.

Agree. Big risk in using debit cards online, if folks are worried about getting out of their depth with a credit card balance set the limit low.

What credit card do you have which gives air travel rewards?

[p1stonhead]

SystemParanoia said:

p1stonhead said:

SystemParanoia said:

none here.
if i cant afford it.. then i cant afford it. A CCard with 50% apr and a heafty peanalty for cash withdrawls doesnt help anyone

Yeah but no one has a card with such ridiculous terms.

And it's not in any way about not being able to afford things.

ok.. but 35% is still a kick in the teeth

Or less than 20%.....

[djc206]

bmwmike said:

Agree. Big risk in using debit cards online, if folks are worried about getting out of their depth with a credit card balance set the limit low.

What credit card do you have which gives air travel rewards?

BA American Express

[Jimmy Recard]

SystemParanoia said:

none here.
if i cant afford it.. then i cant afford it. A CCard with 50% apr and a heafty peanalty for cash withdrawls doesnt help anyone

You know that if you pay it off on time, you pay no interest, right?

I was told ages ago by a man who tapped the side of his nose in a pub that anyone who has a credit card just can't afford it. Utter bks.

Some credit card users can afford what they spend, some can't. The same with cash users and debit card users.

[SystemParanoia]

p1stonhead said:

SystemParanoia said:

p1stonhead said:

SystemParanoia said:

none here.
if i cant afford it.. then i cant afford it. A CCard with 50% apr and a heafty peanalty for cash withdrawls doesnt help anyone

Yeah but no one has a card with such ridiculous terms.

And it's not in any way about not being able to afford things.

ok.. but 35% is still a kick in the teeth

Or less than 20%.....

no one i know has ever been offered less than 30%

I only had one for a short time to use for fuel while building a credit profile to buy my first house.
once i got the house i cut up the card.

that was 34.9% and charged 3% on all cash withdraws.
horrible horrible way to handle my money in my experience, and i will never repeat it.

Jimmy Recard said:

You know that if you pay it off on time, you pay no interest, right?

I was told ages ago by a man who tapped the side of his nose in a pub that anyone who has a credit card just can't afford it. Utter bks.

Some credit card users can afford what they spend, some can't. The same with cash users and debit card users.

I agree, some people earn insane amounts of money, and sees that money differently to someone who barely scrapes through month-to-month having to choose between heating and eating.

ccards are too tempting to lean on when you fall on hard times and once you go down that rabbit-hole, you could end up financially fked in a very short time

i.e look at the overpaid thread.. the guy just lost 25% of his net pay ffs!!! I dont know about the powerfully built directors on here, but i dont have 25% spare at the end of the month and so the ccard would take a hit as i couldnt pay it back, and the apr would kick in, the late payment charge would kick in and all those fun and games due to an event out of my control.

Edited by SystemParanoia on Thursday 1st June 10:30

[Pothole]

Me. I have had them but I have no need for one now. I live a simple life and I'm too lazy and disorganised to pay everything off every month. It doesn't really work with my 13 pay days a year anyway, to my mind.

[Jimmy Recard]

SystemParanoia said:

no one i know has ever been offered less than 30%

I only had one for a short time to use for fuel while building a credit profile to buy my first house.
once i got the house i cut up the card.

that was 34.9% and charged 3% on all cash withdraws.
horrible horrible way to handle my money in my experience, and i will never repeat it.

I've never applied for a credit card more than 19.9% and never been rejected.

I've never paid a penny of interest one either, as far as I recall.

A credit card and debit card don't have to be mutually exclusive - it is possible to keep a debit card for drawing cash and a credit card for occasional larger spending

[joshleb]

When people are worried about buying online... what sort of sites are they buying off?

Surely off Amazon, ASOS and CRC debit cards are fine?

They're what 95% of my online spending are on...

[Jimmy Recard]

So SystemParanoia, you think anyone who can manage a credit card is a high earner?

I disagree. I'm evidence of that in my opinion

[SystemParanoia]

Jimmy Recard said:

So SystemParanoia, you think anyone who can manage a credit card is a high earner?

I disagree. I'm evidence of that in my opinion

No, but it is easier for them.

I just find it would be far to easy for me to be frivolous and get way out of my depth.
with a debit card, i cant spend what i dont have and it keeps life simple for me.

maybe i should say i dont trust myself not to spend £3k on coke and hookers on a whim when the money is just a 4 digit pin away....

[xjay1337]

To be fair some of the people saying they use them for rewards/cashback, absolutely does make sense. If you have £300 for a purchase sat in your bank, why not spend it on a CC and then pay it off.

I may look into the best rewards card.

[Jimmy Recard]

Just to clarify SP, I'm not a high earner. I set my budget for every month and modify it weekly. I just don't spend more on my credit card than I would, and keep it within my budget.

The benefit is the Clubcard points and 3% interest on my current account.

It's only a small bonus but as someone who's not a high earner, I like that I'm making the most of it by using a credit card. It leaves me a little better off

[anonymous-user]

SystemParanoia said:

none here.
if i cant afford it.. then i cant afford it. A CCard with 50% apr and a heafty peanalty for cash withdrawls doesnt help anyone

Most cards are 14 - 20 percent, 50 is the extreme end. I used to have a few but now just , it is handy. If you play the system,
It can be used for low interest loans as well, but 0 balance transfers are less now so harder to do.

[Shnozz]

This thread is just bizarre.

My credit card costs me nothing as there is no annual fee and it gets paid in full each month.

It affords me protection on purchases that I wouldn't have under a debit card.

If needed, it offers me access to an immediate loan (albeit at noncompetitive rates - but nevertheless its available).

It increases my credit rating.

I cannot see any negatives aside from if you are a spanner when it comes to self-control. Why would you not have one?

[bmwmike]

joshleb said:

When people are worried about buying online... what sort of sites are they buying off?

Surely off Amazon, ASOS and CRC debit cards are fine?

They're what 95% of my online spending are on...

You get protection with a credit card that is simply not applicable to a debit card. Not just if the site gets hacked but protection if goods don't turn up, are poor quality or DoA etc

[p1stonhead]

SystemParanoia said:

Jimmy Recard said:

So SystemParanoia, you think anyone who can manage a credit card is a high earner?

I disagree. I'm evidence of that in my opinion

No, but it is easier for them.

I just find it would be far to easy for me to be frivolous and get way out of my depth.
with a debit card, i cant spend what i dont have and it keeps life simple for me.

maybe i should say i dont trust myself not to spend £3k on coke and hookers on a whim when the money is just a 4 digit pin away....

Just because you have the funds doesn't mean you have to spend it. A credit card is useful for many reasons. It's not a loan you have to pay interest on.

[Jockman]

bmwmike said:

joshleb said:

When people are worried about buying online... what sort of sites are they buying off?

Surely off Amazon, ASOS and CRC debit cards are fine?

They're what 95% of my online spending are on...

You get protection with a credit card that is simply not applicable to a debit card. Not just if the site gets hacked but protection if goods don't turn up, are poor quality or DoA etc

Remember, Debit cards do offer protection too.

http://www.money.co.uk/current-accounts/is-debit-c...

[bmwmike]

Jockman said:

bmwmike said:

joshleb said:

When people are worried about buying online... what sort of sites are they buying off?

Surely off Amazon, ASOS and CRC debit cards are fine?

They're what 95% of my online spending are on...

You get protection with a credit card that is simply not applicable to a debit card. Not just if the site gets hacked but protection if goods don't turn up, are poor quality or DoA etc

Remember, Debit cards do offer protection too.

http://www.money.co.uk/current-accounts/is-debit-c...

The protection is not the same as credit cards though. Charge back is discretionary and not legally binding on the payment card provider as section 75.