Ellmeister Posted June 24, 2009 Share Posted June 24, 2009 Credit cards allow you to purchase things you can't buy but want without the actual funds there at that time. Thats an advantage. good credit report, thats an advantage. Currently, I'm a student and so I left my credit card at home in a drawer somewhere safe Banks don't take us students seriously so there's no point using mine as of yet. Link to comment Share on other sites More sharing options...
gmac Posted June 24, 2009 Share Posted June 24, 2009 It's interesting you mention banks being idiots: the Law Lords are soon to settle the overdraft charge case. I hope you're going to write a lengthy complaint letter. just in response to the first part of this, if the banks don't win that test case we can all say goodbye to free banking, current accounts are incredibly expensive to run, and while I'll admit some banks take the piss with their charges, the ultimate loser in all of this is the people, like me, who don't go over their overdraft and don't have returned direct debits Link to comment Share on other sites More sharing options...
stuwii Posted June 24, 2009 Share Posted June 24, 2009 People really need to budget and credit cards are often distractions Few tips Overdrawn-not good Work out what you really earn minus tax. Work out costs per month Link to comment Share on other sites More sharing options...
flameboy Posted June 24, 2009 Author Share Posted June 24, 2009 I had my credit card for emergencies intially but came in handy when at Uni I got laid off at HMV with minimal pay off as hadn't been there long. So helped keep me going until I found another job. Why do airlines sometimes insist on paying by credit card rather than debit, bloody annoying that this is the case...otherwise none of these problems would have arisen...as I wouldn't have been trying to book anything on the card... Link to comment Share on other sites More sharing options...
EEVILMURRAY Posted June 24, 2009 Share Posted June 24, 2009 (edited) Main reason for me: cashback. How does that work with a credit card? I always see it mentioned on the adverts and been most curious. Edited June 24, 2009 by EEVILMURRAY Link to comment Share on other sites More sharing options...
Mr_Odwin Posted June 24, 2009 Share Posted June 24, 2009 (edited) How does that work with a credit card? (It is not the same as cashback in a supermarket.) You buy stuff on a credit card. At a set time every year they give you a percentage back of what you have spent over the year. For example, I have an Egg Money card and get 1% cashback on all purchases. Eg. Say I buy a kitchen that costs £5000. I put that on my Egg Money card. In April I'd get £50 cashback from that purchase. I've paid no interest as I paid off the amount immediately. Credit card saves me £50. But that's not all CCs are good for. Any purchases over £100 mean that you have an added layer of consumer protection. (Google this for more info, I'm not typing it all for you.) Edited June 24, 2009 by Mr_Odwin Link to comment Share on other sites More sharing options...
Kirkatronics Posted June 24, 2009 Share Posted June 24, 2009 (It is not the same as cashback in a supermarket.) You buy stuff on a credit card. At a set time every year they give you a percentage back of what you have spent over the year. For example, I have an Egg Money card and get 1% cashback on all purchases. Eg. Say I buy a kitchen that costs £5000. I put that on my Egg Money card. In April I'd get £50 cashback from that purchase. I've paid no interest as I paid off the amount immediately. Credit card saves me £50. But that's not all CCs are good for. Any purchases over £100 mean that you have an added layer of consumer protection. (Google this for more info, I'm not typing it all for you.) Thats a lot of money if you think about it, a hell of a lot. Its a huge discount at the end of the year if spend alot, which you probobly would. Link to comment Share on other sites More sharing options...
Will Posted June 24, 2009 Share Posted June 24, 2009 I've considered getting a new card for the cashback in the past, just buy everything on the card, pay it off straight away and it's free money. Never really got around to it though. I'm incredibly anal about money, everything I earned or have invested is budgeted for and monitor my spending very closely. Works well for me though as I've gone from overspending all the time to being able to do pretty much anything I want and all well within me means. As for the OP, mistakes do happen, luckily with banks they're generally very good at sorting them out, and they should cover and costs you incur because of them. Any banking mistakes I've had in the past have always ended in my being better off because of it. Sure it's a pain right now, but you have to remember a Bank is made up of people, just like the rest of us. Link to comment Share on other sites More sharing options...
Raining_again Posted June 24, 2009 Share Posted June 24, 2009 In the name of buggery? You're working a wage and they force a credit card on you before you can get a debit card? I'd burn the bank down with me inside before I accepted those terms. I know! I mean I was earning 4.99 (lol) per hour at the time, but i was still working full time. I don't really understand how that works. And these were in the days where there was LOADS of jobs. I couldn't imagine how difficult it woulda been for me trying that now. They didn't force it on me really, but like, debit cards are one of those things that are essential, means justify the ends. Link to comment Share on other sites More sharing options...
bluey Posted June 24, 2009 Share Posted June 24, 2009 O. M. G. I just felt like Hitler. We paid out an amount in March of £65,000 (approximately) to a client. Three months later (now) we send out a letter to the client stating that we overpaid him by £4500. And that he has to pay it back. So I had to take a debit card payment from him for it. Like.....how the fuck is that even legal. I should have refused to take it....lol. you ARE just like hitler i bet that guy hates you right now. i bet he goes to bed at night cursing your name and his wife's like "honey let it go" but he's like "NEVAARRRR!!" and then she'll leave him and take the kids and the house and he'll go slowly crazy. probably. i've never had much cause to hate banks... apart from them being that mild brand of rubbish they always are even when they're being OK. i try super hard to stay out of debt, and not spend money that isn't mine (apart from now, rigth now i'm into my overdraft cause someone who owes me money isnt paying up.) apart from the whole mortgage gig i really hope i can stay away from borrowing money....... shakespeare had the right idea. Link to comment Share on other sites More sharing options...
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