Credit Check Aye Tell Us About It

[weecalf]

All this credit check and credit what ever they call it .I think it just a another way to get the people to borrow more and repay even more .Sorta slap slap on the back say well done you borrow lots in the past you look like a good borrower psss want to borrow another 100000 and give us back 250000 .Give us a break no mention of you saved got by on what you had well done .

[ummmm]

Not really. Credit cards gives extra protection on purchases. I've just applied for one because we need some kitchen appliances. 0% interest for 12 months so we'll use it for that and pay it off. Once the 0% deal ends we'll use it and pay it off each month so won't be paying any interest. If we have any other big purchases to make in future we'll switch cards to another 0% deal. I must admit though they did offer us a stupid limit considering we've never had a credit card before which we reduced.

Also...they are handy for things like hiring cars which we do when we go to Ireland. We have to pay a deposit of £1,600. If you use your CC that is just held and nothing goes out. We had to pay it on our DC which means they take the actual cash out of your account and then you have to wait 5 days for them to return it.

Credit cards are really for people that have money.

[hc4361]

I've used credit cards for 30 years or more and never paid a penny in interest.

Get vouchers and other rewards for using them and as already mentioned the s.75 protection is invaluable for purchases over £100, even if you only use the card to pay a small deposit.

Wouldn't be without mine.

[ummmm]

I think it was you, hc, who convinced me to get one.

[SherryBea]

Credit cards are the easiest and cheapest way to budget if you know how to work the system. We've just had our living room done, new carpets new sofas etc and paid for everything on a credit card which is 0% interest for 24 months. We will pay regular varying amounts off depending on how much spare money we have and will probably be paid off by the summer. We do that for holidays too which enables us to get the best deal. Just be aware of how long the 0% offer lasts and when its nearly up then apply for a different card that offers 0% on balance transfers. With banks offering a pittance on savings its hardly worth saving up for stuff these days.

[ummmm]

That's what I mean when I said you need to have money to have a credit card. As soon as you start using it to live you're in trouble.

[ladybirder]

Better still have a credit card and get money back off them. I use mine for everything I can each month, grocery shopping, petrol, incidentals, pay it off completely by DD every month and get a percentage of my spend back which I accrue until I have a decent sum. A win win situation.

[ummmm]

How do they pay the % back?

[naomi24]

//I think it just a another way to get the people to borrow more and repay even more //

You won't be borrowing more and repaying more if your credit check comes up with a poor result.

[hc4361]

If you need any form of credit to live you're in trouble.

If you can't resist temptation and believe that the available credit is yours to spend willy nilly, you shouldn't have a credit card but you're likely to have money trouble if you've got that sort of attitude in any case.

I have a very high credit limit 'just in case' my roof blows off, my car blows up or I get stranded in deepest Peru with appendicitis. Thankfully, none of these things have happened. :)

[ladybirder]

Ummmm - as a credit on your account.

[ummmm]

Cool.

[whiskeryron]

// Credit cards are really for people that have money. //
True but I only ever use them for convenience, I don't carry a lot of cash with me so use cards for purchases & pay them off monthly,so no charges.

[ummmm]

That's what I mean. People who can afford to pay it off monthly. I rarely have cash. I've been known to send my son over the local shop to borrow money for school :-)

[sunny-dave]

I seem to live an increasingly cashless, card-based, lifestyle.

Apart from buying beer in pubs, there is virtually nothing that I use actual cash for - and even then my local will let me use a card for purchases over a tenner.

I've just checked and the last time I used a cash machine was for £50 early in December - and I've still got £20 in my wallet. Everything else has gone on a card of some sort, all of which are paid off every month in full. It does actually make it very easy to see where my money is going to.

[ummmm]

Our pub lets you pay any amount by card, even a coke.

[sunny-dave]

My local is in the sticks with carp data connections - card payments are a bit slow & so the landlord tries to avoid having too many of them.

[whiskeryron]

Because I bank online, My pensions are paid into my account & most of my bills are paid by direct debit I can see a future when cash will be obsolete. Can anyone else agree with me ?

[sunny-dave]

I think I'm very nearly there, WR - it tends to be small purchases at craft markets & the like that I need cash for - but even they seem to be getting the little handheld payment machines no.

[ummmm]

No Ron, for adults maybe but kids will always need cash.

[Islay]

Wkiskeyron, I do most financial stuff on line I had to produce a utility bill with my address on and I couldn't - luckily my payslip has it on!