Re: Credit Cards

We use one debit card and one credit card between us, both in HWMO's name, If we buy any large items,or use PayPal, we use the credit card and it is paid in full at the end of the month. As we have a joint account, I too have a debit and credit card, but mine are languishing in the safe, never once used. Don't need either of them since we retired.

Re: Credit Cards

I only have a debit card, I have no need of a credit card.

I check all our bank accounts on a daily basis.

Re: Credit Cards

When I was working I had 2 credit cards. One was a Santander 123 credit card that paid cashback on certain items like petrol and shopping. The second one was a Tesco clubcard credit card and I get points on every spend which are then turned into vouchers.

When I stopped working I got rid of the Santander one because the drop in petrol spends meant it was costing me money to keep it as there was a £3 a month charge for it and I was getting less than that back in cashback. The Tesco one is free and I still have that one.

I don't live on credit, I pay for everything on the card and pay it off by direct debit every month.

I also have a debit card which never sees the light of day unless I'm getting cash out the hole in the wall.

Re: Credit Cards

I have two credit cards, one for personal things and the other for business materials because it's easier than carrying cash around. Both are paid off in full every month. I also have debit card to pay for groceries.

Re: Credit Cards

I have a debit card (which I use for most everyday purchases) and a couple of credit cards, plus a couple of store cards. Very rarely use the store cards and, like the other credit cards, if there is anything owing I pay them off each month. I tend to look round for interest free credit and if the price is right I buy larger items on that and always pay it off before any interest becomes due. I've never got into a mess with money/credit and am quite careful. I suppose I am lucky really.

Re: Credit Cards

I don't think it's got anything to do with luck at all, it's just common sense not to live outside of your means.

Other than a mortgage I've never been in debt, even when I didn't have 2 halfpennies to rub together. I have worked and saved for everything I have.

It seems though there are people who think a credit card bill or other credit is going to magically pay itself off. I personally know someone who lives on credit, if all their debts were called in at once they'd be bankrupt. I couldn't live like that I'm afraid.

Re: Credit Cards

I have one credit card and one debit card. I used to have another credit card but the bastards suddenly decided to charge an annual fee for it so they received the cut up bits in one of their pre paid envelopes.

I use both the debit and the credit card but the latter is always paid off in full just before the due date, I have no idea what the interest rate is because I never pay any but I am sure it is high compared to the bank rate of 1.5%.

I like credit cards because of the 55 days interest free period that you get (as long as you pay it all off in time) it can be very useful. I miss my second card because my current one has a statement date of 7th of the month the other one was 25th of the month so by using the right card you maximised the time before repayment. I suppose with current low interest rates it doesn't make so much difference.

My only complaint is that my current credit card was originally Virgin but they sold it to WestPac as 'Ignite' so it is just one of the Big Four banks credit card now. How long it retains its fee free status I don't know - if you go to their web site it says "No annual card fee, ever." but it also says applications for this card are closed.

https://www.westpac.com.au/personal-...r-sale/ignite/

Re: Credit Cards

I'm not sure luck has much to do with debt. Many people have little choice, imagine going onto benefit and finding you get nothing for four to six weeks. Pay your rent ? Pay for food ? no money for anything. If you have a credit card that might be only chance to keep your home.

Re: Credit Cards

Exactly Julie ....there for the grace of god go several

Re: Credit Cards

I think I am "lucky" Julie because I have never been in the position you describe.

Edited to add: That is not to say I have never been short of money and/or have never found it difficult to manage.