Credit - Anyone 'not do' credit?
Discussion
lord trumpton said:
There's a lot of threads in GG about PCP's, Lease deals and loans.
Just wondering who on PH is from the 'no credit for me, if you can't pay cash then you can't afford it..." brigade.
If we are just talking car's then me Just wondering who on PH is from the 'no credit for me, if you can't pay cash then you can't afford it..." brigade.
I do have a small mortgage on the house apart from that If I want something I save for it.
Yep, I avoid credit at all times, even stuff like credit cards.
I remember some guy calling me about PPI claimbacks and I told him I had no loans, and he said what about credit cards and I said I don't use them either, and he was almost dumbstruck.
That said, it's more likely to cause me problems as you won't get a decent credit score without having and maintaining loans and debts so I really should be using credit cards more often.
I remember some guy calling me about PPI claimbacks and I told him I had no loans, and he said what about credit cards and I said I don't use them either, and he was almost dumbstruck.
That said, it's more likely to cause me problems as you won't get a decent credit score without having and maintaining loans and debts so I really should be using credit cards more often.
I 'don't do credit' on cars, but do have a mortgage. That said, I sometimes feel foolish for having money tied up in them. Guess I can always sell them and downsize to a snotter if I needed the money.
However, Im certainly not of the opinion that you can't pay cash then you can't afford it. The majority of nice cars that are driven around are probably on finance, and most can obviously afford the finance as they are driving them.
So, whos the mug?....
However, Im certainly not of the opinion that you can't pay cash then you can't afford it. The majority of nice cars that are driven around are probably on finance, and most can obviously afford the finance as they are driving them.
So, whos the mug?....
My parents don't do credit at all. Since they paid off their mortgage they haven't had a credit card or anything for many years (20 ish)
I am now in the same position to not have any debt any more after racking up a lot of debt.
However I am about to take on a mortgage. So wont be joining my parents again for some time on the no credit list.
I am now in the same position to not have any debt any more after racking up a lot of debt.
However I am about to take on a mortgage. So wont be joining my parents again for some time on the no credit list.
alock said:
Do those who don't use credit cards make any online purchases?
I'm guessing you don't or you do it with a debit card oblivious to the legal advantages to using a credit card?
Yep, debit cards or paypal. I've always found it strange that credit cards offer such protection, and I'm not sure of the motives behind it.I'm guessing you don't or you do it with a debit card oblivious to the legal advantages to using a credit card?
Either they do it out of the kindness of their hearts, or it's some sort of legal thing they can't back out of.
I simply can't understand people that say "I don't do credit - I save - except for my mortgage"
Jesus Christ - borrowing several hundred grand to buy a house, committing yourself to over a quarter of a century or more of paying tens of thousands of pounds on interest, and you don't do credit?
Really?
Jesus Christ - borrowing several hundred grand to buy a house, committing yourself to over a quarter of a century or more of paying tens of thousands of pounds on interest, and you don't do credit?
Really?
t not to. alock said:
Do those who don't use credit cards make any online purchases?
I'm guessing you don't or you do it with a debit card oblivious to the legal advantages to using a credit card?
Got a card that you can load up or debit. We only got a proper credit card year before last as we went to the states for hols and it really was needed. We do use it for a large purchase or two since, but thinking of chucking it and being card less again. Managed for years before that.I'm guessing you don't or you do it with a debit card oblivious to the legal advantages to using a credit card?
TIGA84 said:
I simply can't understand people that say "I don't do credit - I save - except for my mortgage"
Jesus Christ - borrowing several hundred grand to buy a house, committing yourself to over a quarter of a century or more of paying tens of thousands of pounds on interest, and you don't do credit?
Really?
So you either rent or bought your house full in cash? Which one was it? Dont be so ridiculous.Jesus Christ - borrowing several hundred grand to buy a house, committing yourself to over a quarter of a century or more of paying tens of thousands of pounds on interest, and you don't do credit?
Really?
Nearly everyone who says they 'dont do credit', myself included, has a mortgage. Its necessary if you dont want to waste thousands of pounds on rent for the rest of your life and end up with nothing to show for it. Commitment for quarter of a centurey? - no it only commits you to the length of the fixed period of a mortgage (if you get a fixed deal) which can be as low as 2 years. Ive moved 3 times in 5 years without penalty and would have spent £40k in rent in that time.
Other types of credit are usually for luxuries.
Credit card is used for everthing online. It offers a lot more protection than debit and is paid off at the end of the month so no problem at all.
Edited by vescaegg on Friday 16th January 14:51
Being 21 i don't do credit, yes i have a credit card but i use that for work expenses and if i ever need it for emergencies.
I did however buy my last car on credit, mainly because i had bugger all money and my car at the time went bang. Luckily that's all paid off now and i have 0 debt to my name
I did however buy my last car on credit, mainly because i had bugger all money and my car at the time went bang. Luckily that's all paid off now and i have 0 debt to my name
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