credit cards

[bobtheturkey]

what is the point of them? do people think that they get the stuff for free when they use them? and why do you have to stand for ages behind someone who is paying for something that costs about 87p with one? i was brought up that if you dont have the money in your hand you dont get it, bar a house everything i have ever bought has been with cash, why do people then complain that they are in so much debt? they think they are wonderful opening their purses and wallets with 567 credit cards in them whilst the sharks are laughing their heads off at them, even the head of barclays bank was quoted as saying that people who use credit cards are mugs - rant over :)

[Katie~77]

I have a credit card for emergencies only! Emergency shoes, handbags etc.... My Mum would kill me if she knew I had one. She always told us to "cut our cloth accordingly"x

[LazyGun]

Katie, you should just point out to yer mam that cloth makes for lousy shoes, emergency or otherwise :)

[FoxLee]

I don't understand why you all seem to look on credit cards as a licence to go on a spending spree and live beyond your means and then be in terrible debt. Do you not have control of yourselves? They are a convenient way of paying for things so that you don't have to carry a lot of cash on you (it doesn't have to be a suite of furniture) - a new carpet, lights, clothes, even the weekly shop would entail carrying a fair amount of cash or previously making sure there was enough money in your current account to cover a cheque or debit card. I remember when credit cards came along and what a godsend they were and I've never ever seen it as a way to buy something I couldn't afford. The bill is paid off every month and we don't pay a penny in interest. Plus I now use a Tesco credit card so rack up extra points that way as a bonus!!

[FoxLee]

Caz1975 - I think you are confusing credit cards with getting a loan. Most credit cards would have a limit of, say, �2000. You would need a gold card to be able to spend about �20.000.

[China Doll]

Credit cards are a mugs game... unfortunately I learnt that the hard way! Ah well, you live, you learn and you don't do it again.

[mandimoo]

wow, i cant believe how anti credit card you all are! i have used credit cards for several years now. ive never paid a penny interest, and ive only ever paid one balance transfer fee. as soon as the interest free period runs out, i transfer the balance to a new card. i have managed to install a brand new bathroom in an old bedroom using my credit cards (amongst lots of other smaller things). i always pay way over the minimum every month. i think they are a good thing, so long as you assert some self control.

[Katie~77]

Foxlee- I'm not in any debt. If I use my credit card I make sure I clear the balance as soon as I can.x

[FoxLee]

Katie - you and I seem to be in a minority. Most people who've voiced an opinion on credit cards seem to regard them as the devil incarnate. China Doll calls using them a mugs game. To me that's rubbish, I think they're a brilliant and convenient way of paying for things so that you don't have to carry cash around. But, as I said before, I don't view them as a licence to buy things that I can't afford and thus get into debt.

[China Doll]

Foxlee.... Apologies that was poor phrasing without explanation on my part...

I think they are a mugs game in the sense that they do give people license to live outside their means. Myself when I was younger included in that statement. If you can use them sensibly then that's great. However many people can't and don't and these days they are so easy to obtain and they can cause such damage. Yes, it's their own fault but I don't agree with banks offering them to anyone and everyone, it's like an invitation to stupidity. (Which actually it is in some cases)

As far as not having to carry cash around. I rarely carry cash around, I use my debit card. Just as conviniant.

I agree with Twizzler Boy's sentence that if you don't have the money/method of payment in hand then you shouldn't be buying what you're looking at (houses excluded, can't comment on cars, don't drive). If credit cards are used to buy luxery items as they generally are then you need to consider if you actually need that item.

You have obviously devised a way where you get the best use of them and are in full control which is cool. I still think that they are an unnecessary evil. So it looks like we'll have to agree to disagree.

[FoxLee]

This can run and run! If you can't use a credit card sensibly, then you can also use a debit card wrongly shall we say. You might have money in your current account to cover, rent, food, etc. and then see a jumper or pair of boots you fancy and whip out your debit card to pay for them. The thing about debit cards is that you have to keep the money in your current account and that is a poor place to keep money as you get no, or very little interest on it.
I don't think credit cards should be offered to youngsters. perhaps in their first jobs, who might be tempted to buy all sorts of things they can't afford.

[China Doll]

Agree with you in the main there, I couldn't comment on whether a current account is a good place to keep money as again, no knowledge on the subject.

At least with a debit card if the money's gone it's gone. You're not in any debt... you just ain't eating for a few weeks! (Harsh but fair I think) ;0)

[ccproducer]

http://www.creditcards.org/