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[Chopsdad]

A credit card is a tool, nothing more .. not a miracle worker... nothing clever about them ... just a useful tool when used correctly.

No credit card has ever got its owner into any trouble ... the OWNER has got themselves into trouble !

An inanimate object does not have the ability to do anything ...  

My wife does the ironing  

[haj]

Had an egg card payed it off in full and they kept sending me a monthly
bill when i had not used it.
Got it sorted eventualy,cut the card up and told them to take me off their system.

I believe they froze the accounts of ppl who paid their debt in full every month,not making enough profit on those cards.Bad debtors,or those  that pay the min.amount, have not been frozen.(more profit from the interest)

[JamesV6CDX]

Yes i have and i get the bloody lot asking do i want one and the answer is no you can stick it and then it goes in the bin

I have taught you well....

Now, about my Barclaycard...

[Marks DTM Calib]

I cant live without a credit card but, thats down to traveling with work and expenses.

It gets paid off every month, I have never paid interest on it....and I get cash back (4% currently but, normaly 1%) and extra security.

The banks cant share balance info but they can score your behaviour and its this score that gets shared.............thats the basic loop hole in the system.

[shyboy]

I have loads of CC's as I've been a card tart for years. I take full advantage of their offers and deals, and when these end the cards lie dormant or get cancelled. I've never paid interest or transfer balance charges, as I'm able to pay balances off monthly through good management.
The latest one I took out was a Halifax One card which offered interest free purchases for 9 months. Each time I use it the funds which would have been used are placed in an interest earning instant access account, so the Halifax has in effect been paying me to borrow from them. Next month I will pay off the full balance before the end date, pocket the interest I've earned, and either not use the card very often or cancel it as the whim takes me.
I've been waiting for years for one of these coys. to refuse to give me a card on the basis that they've sussed out my little game, but it hasn't happened yet. And only the Brittania Bldg. Soc. has ever cancelled my card through non-usage.
I will use my Egg Money card after next month and enjoy the cashback facility on this, but this is only paid once a year.
Someone told me that having dormant cards is not a good idea from the security/fraud point of view, so I might have a clearout so that no clever sod can turn the tables on me.

[Kevin Wood]

I have loads of CC's as I've been a card tart for years.

 

The very fact you can do this shows how much money they are making from mugscustomers who are less careful and fall into their trap. Credit cards are very handy for avoiding having money sitting in current accounts, etc. that pay bu66er all interest...

However, if they ever started charging annual fees again, mine would be heading for the shredder.

Incidentally, I always keep a couple in my wallet because you never know when one of them will spot some "uncharacteristic activity" and pull the plug, usually when you're a long way from home.

Kevin

[ians]

How do you all buy stuff off the interweb with no credit card and the free fraud protection provided?

Absolutely.  Apart from convenience,  the fraud protection on its own is worth having a card for.   Then its down to personal discipline not to abuse it.

[Pitchfork]

I cant live without a credit card but, thats down to traveling with work and expenses.

It gets paid off every month, I have never paid interest on it....and I get cash back (4% currently but, normaly 1%) and extra security.

The banks cant share balance info but they can score your behaviour and its this score that gets shared.............thats the basic loop hole in the system.

I do the same, have 2 personal cards & a Corporate one
All paid off each month so I'm of zero value to the issuers & am waiting for the day that they are pulled because they make no profits from me
Nobody should live beyond their means!

[Golfbuddy]

I cant live without a credit card but, thats down to traveling with work and expenses.

It gets paid off every month, I have never paid interest on it....and I get cash back (4% currently but, normaly 1%) and extra security.

The banks cant share balance info but they can score your behaviour and its this score that gets shared.............thats the basic loop hole in the system.

I do the same, have 2 personal cards & a Corporate one
All paid off each month so I'm of zero value to the issuers & am waiting for the day that they are pulled because they make no profits from me
Nobody should live beyond their means!

Sadly, you are not of zero value to the credit card company. Every time you use the card, they get a percentage of the sale from the retailer. They make a great deal of their profit in this way. The more you spend on the card, the more profit they make on your purchases. This filters back down to us in higher prices in the shops.

[Jay w]

I cant live without a credit card but, thats down to traveling with work and expenses.

It gets paid off every month, I have never paid interest on it....and I get cash back (4% currently but, normaly 1%) and extra security.

The banks cant share balance info but they can score your behaviour and its this score that gets shared.............thats the basic loop hole in the system.

I do the same, have 2 personal cards & a Corporate one
All paid off each month so I'm of zero value to the issuers & am waiting for the day that they are pulled because they make no profits from me
Nobody should live beyond their means!

People do.......

I would make your toes curl if i told you how much we used to owe in unsecured debits CC's loans O/D's etc.

It has taken a few years to get it sorted and i have about another 18 months of hard slog to go, but that will be everything paid off (except the mortgage)
I have a personal debit card and a Debit card for the business, my next car will be paid for cash, and the cards will not reappear.

I never want to get to a point in my life where i was getting sleepness nights worrying about whether i can make this months payments or not....

My son is 18 and wants to get a loan for a car, i have tried to make him aware of the risks and pitfalls, i won't stop him if he wants to go and get one, but like me when i was his age he has no concept of the damage overextended credit can do both finacially and mentally.

some people are better at handling credit than others, me i am not so for me i stay away these days

[maria]

Jay i dont own any and have'nt done i have been lucky and always payed by cash but it nice to here your getting there

[Jay w]

Jay i dont own any and have'nt done i have been lucky and always payed by cash but it nice to here your getting there

Cheers,

Mine was a result of a lot of things, depression being one of them!!!!

Put simply i lost control of the situation, by the time we realised it was getting to the point of chucking the towel in and declaring bankruptcy!! that was one route i was not going to go down....

there are soome really good organisations out there that can help as well.

[maria]

Jay i dont own any and have'nt done i have been lucky and always payed by cash but it nice to here your getting there

Cheers,

Mine was a result of a lot of things, depression being one of them!!!!

Put simply i lost control of the situation, by the time we realised it was getting to the point of chucking the towel in and declaring bankruptcy!! that was one route i was not going to go down....

there are soome really good organisations out there that can help as well.

I know what is like i have had enough in my time of life  

[Martin_1962]

I cant live without a credit card but, thats down to traveling with work and expenses.

It gets paid off every month, I have never paid interest on it....and I get cash back (4% currently but, normaly 1%) and extra security.

The banks cant share balance info but they can score your behaviour and its this score that gets shared.............thats the basic loop hole in the system.

I do the same, have 2 personal cards & a Corporate one
All paid off each month so I'm of zero value to the issuers & am waiting for the day that they are pulled because they make no profits from me
Nobody should live beyond their means!

People do.......

I would make your toes curl if i told you how much we used to owe in unsecured debits CC's loans O/D's etc.

It has taken a few years to get it sorted and i have about another 18 months of hard slog to go, but that will be everything paid off (except the mortgage)
I have a personal debit card and a Debit card for the business, my next car will be paid for cash, and the cards will not reappear.

I never want to get to a point in my life where i was getting sleepness nights worrying about whether i can make this months payments or not....

My son is 18 and wants to get a loan for a car, i have tried to make him aware of the risks and pitfalls, i won't stop him if he wants to go and get one, but like me when i was his age he has no concept of the damage overextended credit can do both finacially and mentally.

some people are better at handling credit than others, me i am not so for me i stay away these days

I cannot handle CCs I have managed 2 months without them and I am getting a loan to cover ALL debts including the balance of the car loan.

I don't know how big yours were compared to mine.

[Jay w]

I cant live without a credit card but, thats down to traveling with work and expenses.

It gets paid off every month, I have never paid interest on it....and I get cash back (4% currently but, normaly 1%) and extra security.

The banks cant share balance info but they can score your behaviour and its this score that gets shared.............thats the basic loop hole in the system.

I do the same, have 2 personal cards & a Corporate one
All paid off each month so I'm of zero value to the issuers & am waiting for the day that they are pulled because they make no profits from me
Nobody should live beyond their means!

People do.......

I would make your toes curl if i told you how much we used to owe in unsecured debits CC's loans O/D's etc.

It has taken a few years to get it sorted and i have about another 18 months of hard slog to go, but that will be everything paid off (except the mortgage)
I have a personal debit card and a Debit card for the business, my next car will be paid for cash, and the cards will not reappear.

I never want to get to a point in my life where i was getting sleepness nights worrying about whether i can make this months payments or not....

My son is 18 and wants to get a loan for a car, i have tried to make him aware of the risks and pitfalls, i won't stop him if he wants to go and get one, but like me when i was his age he has no concept of the damage overextended credit can do both finacially and mentally.

some people are better at handling credit than others, me i am not so for me i stay away these days

I cannot handle CCs I have managed 2 months without them and I am getting a loan to cover ALL debts including the balance of the car loan.

I don't know how big yours were compared to mine.

60K+