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[psychnurse]

I don`t have any credit cards; I might be living hand-to-mouth but at least there`s no monthly card-debt/demands/bailiffs to keep me awake at night.

[size=9]Henry David Thoreau
Simplicity, simplicity, simplicity! I say let your affairs be as one, two, three and to a hundred or a thousand… We are happy in proportion to the things we can do without.[/size]

  Sounds good to me Debs!

[jereboam]

Credit cards ae a bad way to borrow money, so if you did find you needed to in future, they wouldn't be the best way anyway and you'd be better off applying for a loan.

Kevin

True, but if you lose your job, or suffer any other financial disaster, just see how fast the other sources of lending disappear!  

Keep your credit cards, use them occasionally, and pay them off as rapidly as you can - same month if possible.  If you are ever unfortunate enough to need to borrow money, and the banks won't lend to you, the cards are a safety net.  

I've got quite a large amount on a 12 month interest free arrangement - balance transfers are very useful!  If I can't find a new transfer at the end of the 12 months, I may have to sell the shares.  Of course, I could have done that instead of incurring the loan, but then I would have missed the capital appreciation and dividends.   :)Credit cards aren't all bad...

[CaptainZok]

Personally I'd cut up the cards but leave the accounts open, that way if you NEED credit you can contact the bank and get one reissued but you're not tempted to shove an impulse purchase on the plastic.

[psychnurse]

Personally I'd cut up the cards but leave the accounts open, that way if you NEED credit you can contact the bank and get one reissued but you're not tempted to shove an impulse purchase on the plastic.

 

[ians]

Depends on personal discipline but I would keep and not use them (or use and pay off at the end of the month as I do).

[cem_devecioglu]

I use only 2 credit cards with a dropped limit like 3 months salary..

And clear the debt nearly monthly..

[Field Marshal Dr. Opti]

I don`t have any credit cards; I might be living hand-to-mouth but at least there`s no monthly card-debt/demands/bailiffs to keep me awake at night.

Good sentiment Debs but iam sorry but i dont think it will work to well in 2008
But ,you are in good company .My old gran said the same thing..............in about 1932

[A380 Elite]

Get rid of your credit cards.

If you do need 1, get 1 that gives you cash back at the end of the year.

Or

Tesco credit card, every little helps, 2 points for every £1 you spend ISO 1 point per £ on Tesco's club card.

As to me, i no longer have ANY CC.  

[psychnurse]

Ive always prefererd to have nothing, or 0, than to owe, or a negative. I have not used a credit card for 10 years, although I still own 2. I keep them... well I dont know why I keep them TBH!

I do hammer the maestro card on a daily basis. I got into quite a bit of debt as a stupid student... now Im an older stupid student. I just like to know where everything is in a linear way... I tend to have OCD tendancies when it comes to money.  

But Im sure 2008 and beyond will prove to be a very big struggle for many. I have felt the squeeze but I am fortunate compared to many and I feel for those who suffer the most.... those who have the most to loose in real terms.

[Debs.]

Good sentiment Debs but iam sorry but i dont think it will work to well in 2008
But ,you are in good company .My old gran said the same thing..............in about 1932

Not really a 'sentiment'; for, I doubt if anyone would offer me a C.C on my income......anyway, what`s wrong with saving and waiting awhile for the things one desires, rather than satiating an immediate wish at the expense of worrysome and burdensome debt? :-/

'1932'.....I guess then I`m to be considered; 'old-fashioned'

[Martin_1962]

Keep them and do not use them - well do use them for little things then pay off in full.

If you need them then you have them.

Keep them for emergencies

[Lazydocker]

As long as there's no annual fee then keep them. That's what I've done! We now buy everything on the3 plastic and pay it off every month! It's about time the banks helped me out!!  

[Dusty]

Credit cards can be cheaper than a loan.

If you balance transfer an amount on to a card offering 0% interest, they will charge you 2-3% handling fee.

This means that for 1 year you can say borrow £3000 at 3% interest.

NOW that's far better than any bank loan.  

[Taxi_Driver]

depends on your willpower.i recently got rid of all of mine and felt a lot better for it.

Not really feasible in 2008.
Try booking a hotel room or paying for a hire car without plastic.It also means no internet purchases.

I use my debit card......if the monies not there, then i dont buy it.

So without cc's you still can book hotel rooms etc.

But i think i agree with Mr Zok........as long as the cc companies dont close your account for lack of use  :-/

[platty]

I have opened up 2 cards in the past "just in case"...  both have been closed by the provider for lack of use.

Since then I came across the Tesco CC... its excellent. I only use it to buy my groceries and fuel and pay it off full each month - but it does bring alot of perks when combined with the Clubcard - on average £60 a month of money off vouchers when i do about £600 on the card.

Does me fine - but the key is paying it off every month without fail!