Credit Cards.

[Georgiesmum]

Do you own a credit card/ multiple credit cards to pay off your bills?

[sunny-dave]

I have more cards than you could shake a stick at - taken out for various reasons (cashback, initial offers etc etc).

I never, ever run an interest bearing debt on any of them though (and always put away the cash elsewhere so that I can clear any 'interest free on purchases' offers at the end of their period).

I use them quite cynically to manipulate my own cashflow to my best advantage - Credit Cards should be your slave, not your master(card) ...

[mccfluff]

^^^^^ oh bog off ^^^^^

(says the slave)

[sunny-dave]

< I knew I should have kept my self satisfied gob shut >

Sorry ...

[Dee Sa]

I agree with you dave, and I pay mainly with Tesco card as they give you a few pennies back, xmas one made my eyes water but we have managed to pay in full even though its left us short this month and living on bread & dripping [ joke].

[hc4361]

I take out a new credit card with a long period of interest free credit.
Use it pay everthing, put the bill in a savings account every month and pay it off in full when the free interest runs out.

Easy way to make money for nothing.

[ummmm]

Nope....I just have a debit card and a cash point card.

[B00]

Same as ummmm.

Never had, nor do I want a credit card.

[vodkancoke]

I have a debit card and a "just in case" credit card which I have never used.

[Ann]

Same as Boo and Ummmm - I have never had a credit card (or want one) just have a debit card and cash point card. We were always taught from our parents that we had to save up for the things we want in life - hire purchase was around when we first got married but we never took any out, we had secondhand furniture until we could afford to replace each item one at a time. i don't know how some people sleep at night with all that debt, most of which I feel is of their own doing by wanting "bigger and better" all the time. Some ARE genuine and I feel for these people.

[Booldawg]

I've never had a credit card. My wife has plenty - all maxxed out *rolls eyes*

[hc4361]

Using a credit card doesn't mean you will be in debt and has major advantages if paid off in full each month.

1. Extra protection under s.175 of the Consumer Credit Act means that if you use your credit card to buy goods or services over £100 the credit card is equally liable if things go wrong. Example: You buy a £1000 tv from a store and it goes bust before it is delivered. You will get the money back from the credit card company; you won't if you paid by debit card or cash. Same for holidays, anything.

2. Cashback / rewards. Use the right credit card and you will get cash back on your purchases or vouchers. In effect, free money.

3. Can show proof of purchase. You buy something and it turns out to be faulty, but you've lost the receipt. A credit card statement can help prove when and where you bought the item from.

4. Holiday money. Use the right credit card for purchases abroad and you may get a much better exchange rate.

5. Interest free credit card for major purchase. If you absolutely must pay for something expensive - your central heating boiler is condemned - it is better to pay with an interest free credit card and spread the cost rather than take a loan out or dip in to your savings.

I have never paid a penny for using a credit card and usually get around £250 per year in cashback or rewards PLUS interest on savings.

[NoMercy]

I have a debit card and a cash card to my Santander Savings...not that there's any savings in there.

Never understood the need to have "more cards than you can shake a stick at" ...

[pusskin]

Never owned one -- only debit card!

[sunny-dave]

Morning NoM :+)

I accept that I have 'too many' cards - they will all have been taken out to get some sort of bribe (or perhaps a donation to a charity) - most of them are never used ...

... but, for the same reason that I have a two entirely separate current accounts with different banks, I think it prudent to have credit cards from two or three unconnected providers.

It's all too easy to get a card or account blocked these days because you have upset their 'expected type of transaction' algorithm and (although the blocking can usually be sorted with a phone call) I prefer to have an alternative means of payment available.

Plus if I need to dispute a transaction on a card or account, I can switch my routine spending to another provider and so effectively 'quarantine' the debt until the dispute is resolved.

[Baldric]

Debit/Cash Point card only.

Don't think you ever OWN a C/card do you, don't they remain the property of the supplier?

[Prudie]

Debit Card only. Being hounded to death by Barclaycard a few years back when times were tougher has put me off ever having a credit card again.