Credit card

Is it possible in this day and age not to have a credit card. When my daughter started her first year in university, every bank, shop with store cards were offering her a card at every turn. Then people wonder why young people are in so much debt. I was lucky with my daughter that she was brought up with so e sense not to get caught up with the store cards, but for so many they are finished university and still paying off store cards. Awful mess.

Re: Credit card

Well it may be as we wanted to change ours but when we applied they insist to complete the process we send driving licences and other identity to them through the post. Not going to happen so if that is how companies now carry on we will I guess eventually be doing without.

Only really keep one to pay unexpected vet fees, as we don't insure them.

Niece and nephews don't have them, just debit cards.

Re: Credit card

I have a debit card, but WILL NOThave a credit card in any circumstances - its all too easy to run up debts on a credit card and be unable to clear it within the specified time. At which point the excessive interest rates that are charged on credit cards start to mount. I will NOT pay interest, the money is better in my pocket than theirs.

Re: Credit card

Jean it was the same when my son went to University . Until then he had been taught 'if you want it work and save for it'.
He did keep his spending in check though.

Re: Credit card

Credit cards are ok if used properly and not for the credit
I have had one for years and never paid a penny in interest .
I get points with mine and cash vouchers 4 times a year. I have also claimed on the card insurance for a new sony personal radio which my son dropped one the drive.

So I have cost the company quite a lot over the years but they have never had a penny out of me .

Re: Credit card

Same here Meg. I get about 2% back from each purchase and pay it up every month so no interest charges. A few years ago I put about £400 deposit on a holiday using my credit card. The holiday company went bust and my credit card company gave all my deposit back to me.

Re: Credit card

I've never had a credit card ! But when I first got married the the white goods were bought on the weekly from a store , not CC. I do know from what I've been told though is it can work to your advantage as it will stand you in good steed when it comes to a mortgage or rented property ad they look for any black marks against your name but if you are a good payer and pay on time this is in your favour ..

Re: Credit card

I've had a credit card for years and have never had to pay any interest. If you are sensible and use it properly, you will never be in debt. I always settle whatever is on my credit card every month. If you buy goods or services on your credit card, you have extra protection if things go wrong compared with paying by cash or cheque.

Of course if people think of the card as an easy way of obtaining things instead of thinking firstl if they can afford to pay for these items, they have themselves to blame.

I have always refused Store credit cards, just have my bank one.

Re: Credit card

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 credit card companies want you to go in debt so they can make money from you.

Re: Credit card

I've had a credit card for a few years now and always pay it off every month so i don't get any interest added....one month...it was x amount pounds...and 50 p.....i paid it off at the bank...and when i was filling in the slip....i never noticed the 50p....until the next months statement came in...I had been charged £ 3.30 interest on 50p.....never again ....i'll make sure there's no pennies left to pay