Who doesn't have a credit card
Discussion
SkinnyPete said:
I have one just for the rewards, never actually used it for "credit" purposes,
Typically spend about £1500-3000 each month, always paid in full. Most I've spent on it was £10k, three months on the run, which paid for a couple of nice flights to go on holiday.
I think its easy to say if you don't have a credit card you are giving away free money.
I agree with the rewards part of it, but to spend £3k a month indicates a 6 figure salary?Typically spend about £1500-3000 each month, always paid in full. Most I've spent on it was £10k, three months on the run, which paid for a couple of nice flights to go on holiday.
I think its easy to say if you don't have a credit card you are giving away free money.
Not sure that's typical of most people.
xjay1337 said:
SkinnyPete said:
I have one just for the rewards, never actually used it for "credit" purposes,
Typically spend about £1500-3000 each month, always paid in full. Most I've spent on it was £10k, three months on the run, which paid for a couple of nice flights to go on holiday.
I think its easy to say if you don't have a credit card you are giving away free money.
I agree with the rewards part of it, but to spend £3k a month indicates a 6 figure salary?Typically spend about £1500-3000 each month, always paid in full. Most I've spent on it was £10k, three months on the run, which paid for a couple of nice flights to go on holiday.
I think its easy to say if you don't have a credit card you are giving away free money.
Not sure that's typical of most people.
But yes whatever I spend I always make sure I have enough in my current account/savings to pay it the next month.
Pothole said:
The thought doesn't seem to have occurred that many PHers don't have that kind of expenditure level (or might prefer not to spend that much on a CC they then have to arrange to pay, etc. etc?) You do it, and it sounds like you've been doing this habitually for a while.
I'm 51 and earning close to average UK wage. Unless I suddenly change the way I finance my life completely I'll never spend £15-20k on a credit card.
Also, there's 3 of us...and we don't really like flying long haul.
Then use a card that gives you cashback or clubcard points that can be converted into tickets to attractions or meals at high street restaurants or your weekly shopetc etc There are numerous different rewards that you don't get with your debit card.I'm 51 and earning close to average UK wage. Unless I suddenly change the way I finance my life completely I'll never spend £15-20k on a credit card.
Also, there's 3 of us...and we don't really like flying long haul.
swerni said:
Evoluzione said:
Nope, no use for one.
I have one for the business which gets used regularly as businesses need credit, I personally don't.
This is where many miss the point, it's not about needing, more taking advantage. I have one for the business which gets used regularly as businesses need credit, I personally don't.
I get companion alrline tickets and tens of thousands of airlmiles every year by using cards.
I don't need credit, but I certainly use it to my advantage and it's free
One of the reasons I don't have one is I enjoy a simple life, I don't need all the add ons, the clutter, the things we gather as we get older. I don't want them, I don't need them. Having a lot less to worry about than you is what keeps me sane and makes me happy
swerni said:
ashleyman said:
iphonedyou said:
swerni said:
This is where many miss the point, it's not about needing, more taking advantage.
I get companion alrline tickets and tens of thousands of airlmiles every year by using cards.
I don't need credit, but I certainly use it to my advantage and it's free
I can't understand how this is continually missed.I get companion alrline tickets and tens of thousands of airlmiles every year by using cards.
I don't need credit, but I certainly use it to my advantage and it's free
I can fly two of us first class return, long haul, every year for the price of economy - for using entirely free credit. No 45% APR, no scary debt trap.
It's really not a 'need' thing.
Spend depends on which card you have. If you have the free one virgin is £15k a year and Amex is £20k.
http://www.moneysavingexpert.com/credit-cards/airl...
Pothole said:
The thought doesn't seem to have occurred that many PHers don't have that kind of expenditure level (or might prefer not to spend that much on a CC they then have to arrange to pay, etc. etc?) You do it, and it sounds like you've been doing this habitually for a while.
I'm 51 and earning close to average UK wage. Unless I suddenly change the way I finance my life completely I'll never spend £15-20k on a credit card.
Also, there's 3 of us...and we don't really like flying long haul.
OK then. Don't use one?I'm 51 and earning close to average UK wage. Unless I suddenly change the way I finance my life completely I'll never spend £15-20k on a credit card.
Also, there's 3 of us...and we don't really like flying long haul.
Swerni responded to evoluzione's point, which was:
evoluzione said:
Nope, no use for one.
I have one for the business which gets used regularly as businesses need credit, I personally don't.
Swerni's entirely valid point was that it need not be a 'need' thing. He wasn't suggesting you personally take out the credit card either.I have one for the business which gets used regularly as businesses need credit, I personally don't.
Ashleyman - I use the BA Amex Premium. The qualifying spend is £10k for it, with a £195 fee.
ETA: I also churn the gold charge card every six months for the 20,000 bonus on spending £2k within two months - which would take otherwise take a non-bonus rate of £13,333 spend to get with the Amex Premium (at 1.5 points per £). Nice way to build points quickly.
Edited by iphonedyou on Friday 2nd June 13:32
ashleyman said:
swerni said:
ashleyman said:
iphonedyou said:
swerni said:
This is where many miss the point, it's not about needing, more taking advantage.
I get companion alrline tickets and tens of thousands of airlmiles every year by using cards.
I don't need credit, but I certainly use it to my advantage and it's free
I can't understand how this is continually missed.I get companion alrline tickets and tens of thousands of airlmiles every year by using cards.
I don't need credit, but I certainly use it to my advantage and it's free
I can fly two of us first class return, long haul, every year for the price of economy - for using entirely free credit. No 45% APR, no scary debt trap.
It's really not a 'need' thing.
Spend depends on which card you have. If you have the free one virgin is £15k a year and Amex is £20k.
http://www.moneysavingexpert.com/credit-cards/airl...
nonsequitur said:
nonsequitur said:
bloomen said:
Not me. I've never had any form of credit whatsoever in my entire life and never plan to.
Admirable, but one day your financial world will bite you on the bottom and you will be on the dog and bone for a loan.When you're desperate and on your ass.. they dont want to know or help you at all.
I have one with Bank Norwegian, the same company that run Norwegian airlines so I automatically earn 2% on all purchases in shops or online, 4% on flights purchased and then also a certain percent per month with my mobile phone contract supplier and home broadband suppliers, all of this comes in the form of reward points I can spend with Norwegian to fly all over the place. I normally end up with 2/3 free flights a year back to the UK.
I have one with Bank Norwegian, the same company that run Norwegian airlines so I automatically earn 2% on all purchases in shops or online, 4% on flights purchased and then also a certain percent per month with my mobile phone contract supplier and home broadband suppliers, all of this comes in the form of reward points I can spend with Norwegian to fly all over the place. I normally end up with 2/3 free flights a year back to the UK.
djc206 said:
Pothole said:
The thought doesn't seem to have occurred that many PHers don't have that kind of expenditure level (or might prefer not to spend that much on a CC they then have to arrange to pay, etc. etc?) You do it, and it sounds like you've been doing this habitually for a while.
I'm 51 and earning close to average UK wage. Unless I suddenly change the way I finance my life completely I'll never spend £15-20k on a credit card.
Also, there's 3 of us...and we don't really like flying long haul.
Then use a card that gives you cashback or clubcard points that can be converted into tickets to attractions or meals at high street restaurants or your weekly shopetc etc There are numerous different rewards that you don't get with your debit card.I'm 51 and earning close to average UK wage. Unless I suddenly change the way I finance my life completely I'll never spend £15-20k on a credit card.
Also, there's 3 of us...and we don't really like flying long haul.
I have amassed enough air miles on virgin Amex for next year but the general consensus is that airmiles do not represent great vfm.
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