Who doesn't have a credit card
Discussion
Who doesn't have a credit card and why?
I got one a few years back to help build my credit rating before getting a mortgage, I use it for everything and always pay it off in full, I also collect air miles points which isn't overly useful but better than nothing.
Having said all of that, I am thinking of getting rid of it and just living solely with a debit card. I never finance anything except my house so credit rating is pretty irrelevant to me.
Also I don't have as much money as I did previously so it's much easier to see how much available funds I have just by looking at my current account rather than having to anticipate my income/outgoings over the next couple of months.
I also have 6 months saving so it's not too necessary to have another emergency fund.
I got one a few years back to help build my credit rating before getting a mortgage, I use it for everything and always pay it off in full, I also collect air miles points which isn't overly useful but better than nothing.
Having said all of that, I am thinking of getting rid of it and just living solely with a debit card. I never finance anything except my house so credit rating is pretty irrelevant to me.
Also I don't have as much money as I did previously so it's much easier to see how much available funds I have just by looking at my current account rather than having to anticipate my income/outgoings over the next couple of months.
I also have 6 months saving so it's not too necessary to have another emergency fund.
I don't.
I used to have 1 for emergencies and then needed to replace a phone that got smashed. Bought the phone on the CC but never got round to paying off the phone in full so was doing minimum payments each month for about 5 years. I worked out that my laziness cost me about £1800 for a £500 phone + all the interest!
Now, apart from my car PCP I have nothing except a debit card.
I used to have 1 for emergencies and then needed to replace a phone that got smashed. Bought the phone on the CC but never got round to paying off the phone in full so was doing minimum payments each month for about 5 years. I worked out that my laziness cost me about £1800 for a £500 phone + all the interest!
Now, apart from my car PCP I have nothing except a debit card.
I have one for work expenses generally - paid of each month out of my expenses
And one with a 0% interest rate for 24 months. I had some big purchases to make for my car. Whilst I have the money in my ISA I may as well leave it there earning a little more than nothing and pay zero on the borrowing.
Pay it off according to a plan, over well before the interest kicks in. Easy.
And one with a 0% interest rate for 24 months. I had some big purchases to make for my car. Whilst I have the money in my ISA I may as well leave it there earning a little more than nothing and pay zero on the borrowing.
Pay it off according to a plan, over well before the interest kicks in. Easy.
What do you non-CC holders do for internet purchases or foreign purchases etc?
Any company not a "known" I use my CC and pay off in full each month. Fortunately I have only had means to have resorted to contacting the bank's fraud department twice, but on each occasion it was painless to have the money refunded immediately and the bank tasked with going after the (non)supplier. In both instances it was car related, funnily enough.
Any company not a "known" I use my CC and pay off in full each month. Fortunately I have only had means to have resorted to contacting the bank's fraud department twice, but on each occasion it was painless to have the money refunded immediately and the bank tasked with going after the (non)supplier. In both instances it was car related, funnily enough.
I think I have 3 at present. Mainly used for payment protection, cashback, and also for funding a renovation at 0% For no logical reason, I find myself using a credit card in preference to a debit card.
I could cause myself some significant financial hardship if I were to go mad on them in some drunken stupor. Possibly a compelling reason to not have them.
I could cause myself some significant financial hardship if I were to go mad on them in some drunken stupor. Possibly a compelling reason to not have them.
fido said:
xjay1337 said:
I buy everything on PayPal these days.
.. and what if they don't accept PayPal? using Debit for purchases is too risky - at least with CC you are covered. AndrewEH1 said:
Is it though? Unless you're ordering online from dodgy websites you shouldn't have an issues with payment or items/services ordered being incorrect/faulty/whatever.
Yep, through Section 75 of the Consumer Credit Act. Even with bona fide vendors orders do go wrong etc. even if it isn't due to fraud - just much less worry when it's on the CC instead of DD.Shnozz said:
What do you non-CC holders do for internet purchases or foreign purchases etc?
Any company not a "known" I use my CC and pay off in full each month. Fortunately I have only had means to have resorted to contacting the bank's fraud department twice, but on each occasion it was painless to have the money refunded immediately and the bank tasked with going after the (non)supplier. In both instances it was car related, funnily enough.
Debit card but mostly PayPal for online and when travelling I put money on a top up travel debit card.Any company not a "known" I use my CC and pay off in full each month. Fortunately I have only had means to have resorted to contacting the bank's fraud department twice, but on each occasion it was painless to have the money refunded immediately and the bank tasked with going after the (non)supplier. In both instances it was car related, funnily enough.
I have my company card and a personal credit card. I got it years ago when I lived alone and didn't make enough to cover emergencies (broken boiler, punctured tyres, etc.) It was never used for frivolous purchases but I spent what I earned on mortgage and bills back in the day so didn't have enough to cover anything else. I've not used it in years.
AndrewEH1 said:
fido said:
xjay1337 said:
I buy everything on PayPal these days.
.. and what if they don't accept PayPal? using Debit for purchases is too risky - at least with CC you are covered. I research the companies in question, now I tend to only order from a small number of suppliers.
Some of those suppliers simply invoice me when I order and then I pay when I recieve or 30 days later.
These days most companies take PayPal (EG Dominos
) as well as many online ticket selling companies etc. Gassing Station | Finance | Top of Page | What's New | My Stuff