13-11-2013, 11:23 AM
11
Re: Credit card
Originally Posted by Jimmy
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What's the point of credit cards if you have a debit card? you can pay by debit card for everything, if you can't afford it don't buy itThe credit card companies want you to go in debt so they can make money from you.
1. You can hold onto your money for a bit longer and potentially earn a little interest on it during that period. But this obviously only pays if you pay it off in full every month.
2. My credit card gives cashback annually, therefore saves a little more.
3. You have some insurance against faulty goods/non-delivery etc as you can claim the money back from the credit card company.
4. Have you ever tried to rent a car? In many, if not all, cases this is impossible without a credit card.
I use my credit card for everything that I can provided there is not an additional charge for paying by credit card, and this not only earns me cashback and security, but also gives me an easy way to watch my spending by checking the statements. I ALWAYS, however, pay it off in full and never buy what I cannot afford.
13-11-2013, 11:39 AM
12
Re: Credit card
Originally Posted by orangutan
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There are at least four reasons for having a credit card in my opinion:1. You can hold onto your money for a bit longer and potentially earn a little interest on it during that period. But this obviously only pays if you pay it off in full every month.
2. My credit card gives cashback annually, therefore saves a little more.
3. You have some insurance against faulty goods/non-delivery etc as you can claim the money back from the credit card company.
4. Have you ever tried to rent a car? In many, if not all, cases this is impossible without a credit card.
I use my credit card for everything that I can provided there is not an additional charge for paying by credit card, and this not only earns me cashback and security, but also gives me an easy way to watch my spending by checking the statements. I ALWAYS, however, pay it off in full and never buy what I cannot afford.
13-11-2013, 01:53 PM
13
Re: Credit card
Originally Posted by Alan Cooke
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That's exactly my attitude Ania. There's nothing wrong and many advantages with using a credit card.
but rather than paying monthly I go to my online banking and transfer any money I have spent each week.That way I keep track of all I spend all the time.
I pay for just about everything using my credit card which is a Mastercard /John Lewis Partners.
I have had to buy two large household items this year and so far this year have had a nice little sum in Waitrose vouchers by using my card. The Vouches arrive 4 times a year, I chose this card because my nearest supermarket is Waitrose and that is where I do a lot of my shopping.
13-11-2013, 06:02 PM
14
Re: Credit card
Alan, I do the same, pay everything by bankcard that I can, but always pay at the end of each month. I get points on my card and almost have enough points now for 2 return flights Adelaide to Sydney to visit my daughter. A saving for me of about $ 600.00 for the two of us using the cheapest prices as a guide.I don't carry much cash on me these days. If someone decides to mug me then they won't get much and it's easy to go to the bank or ring up and cancel a card.
13-11-2013, 06:56 PM
15
Re: Credit card
Originally Posted by Jimmy
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What's the point of credit cards if you have a debit card? you can pay by debit card for everything, if you can't afford it don't buy it.
The bill gets paid in full so I never pay interest.
Buying things on a Credit Card gives you a bit of extra security because if it goes wrong or arrives broken or whatever, the Credit Card people will deal with it if you get nowhere with the retailer.
The other card is an ASDA Credit Card and I get cashback every time I use it so as I use it only for petrol, I effectively get money off that my petrol as cashback.
It might not sound much but it all helps doesn't it?! stevmk2
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