Credit Cards

[Josh!]

So how many of you have a credit card. I just finished paying mine off, for all the stuff I had to buy during my 1st semester of school

[scottish]

I doubt many people have one or have a need for one.

I've never had one and don't plan on.

[Jake]

I do, biggest mistake ever. I Have £4000 left on credit cards. Thankfully £3000 is interest free.
I always thought to myself 'I'll just use it for petrol' never happened and i went on a shopping spree. Realised the mistake i made and took out 3 0% balance transfer cards and put most of it on them. 1 year on and i have £4000 left.
Completely advise against them unless you are extremely careful and have a low limit on them.

[Brad]

I've had two so far... One i cancelled after paying off, and I still have one for emergencies

[Josh!]

I do, biggest mistake ever. I Have £4000 left on credit cards. Thankfully £3000 is interest free.
I always thought to myself 'I'll just use it for petrol' never happened and i went on a shopping spree. Realised the mistake i made and took out 3 0% balance transfer cards and put most of it on them. 1 year on and i have £4000 left.
Completely advise against them unless you are extremely careful and have a low limit on them.

Yeah my credit limit is $1,000 I could of had more but what is the point. My interests is 9.3% as a student. I did my CC via my bank and if I didn't it would 20%

[Meanies]

Never have and probably never will! At the moment any spare money is going into a savings account so if there is something that crops up, the money is there to be used and in the meantime it's earning a miniscule bit of interest.

[Rachel]

I paid mine with a limit of 4000$ (15% interest) and now I only use it ONLY when I really need it.

[lawrawrrr]

I have one and I use it regularly but only ever buy things I know I will be able to pay off at the end of the month. I don't NEED to delay that payment but I want a good credit history and not having a credit history does not equal good credit history!

[thms]

i do not have one and prob never will

[Phil]

I don't have one and I don't have any intentions on ever getting one

[Alkaz]

I have one, originally my limit was £500 and they upped it to £1500. Only have about £600 on it at the moment, I pay it off every month and it has a low interest limit as well. Last time I checked my credit rating it was 992, pretty good even if I do say so myself!

[Ms.Aquamarine]

I don't have one and I'll never get one. I'm sticking to my debit card!

[Matthew]

I have a personal amex and a work amex

[Zak]

Had one for years, no problems

[Samantha]

I don't have one, but I'll probably get one in the future to help with credit rating.

[lawrawrrr]

Everyone who says you're not ever gonna get one, you do realise that if you ever want a mortgage/other kind of loan for something then it's extremely hard to without having a credit history? There seems to be huge stigma among young people as they tend to see credit cards as an easy way to get into debt/only there to like, help you put off the debt until the end of the month ETC

I would really suggest anyone with a steady-ish income stream gets a low-interest card (check out moneysavingexpert for good deals and things, I have a wonderful CapitalOne card as a lot of places won't give one to young people/with no credit history) with no monthly fee (lots of places are sneaky with this) and buy small things you KNOW you can afford! I buy my food shopping with it, some people pay off phone contracts, just use it for socialising etc

I also find it a really good way of keeping track of my food expenditure as all of it goes on that card and I get a statement every month so I can budget better!

:)

[e5]

I've got 3.

One I don't use, one I use quite regularly, purely to delay a payment, with every intention to pay back (and do) and to build up a good credit history. and one I use abroad, the halifax Clarity card which gives you the best rate abroad, with no charges etc so it means I don't have to carry cash and I get the best rate, so win win!

Ive always been good with my cards, never miss a payment, but I know plenty are against it. However, it does build up a good credit history as said before and I'm seen as a responsible lender so I'm given credit easily when looking at things like buying a sofa on interest free (Which I have done recently) and also when I look to get a mortgage, it will help with this too. It's definitely something to have aslong as you pay back, as said. Have self control and it's ok! I think I have a combined credit card allowance of 9k, which is crazy but I think the credit card companies want to tempt you. Can be a nasty trap to fall in to!

[Re-Call]

After not wanting one for years I heard loads of people saying you need one to help get a good credit score if you ever need to borrow say for your mortgage etc.. so I looking into it and got a nationwide credit card with a £500 budget which I have now raised to £3,000 as having more money on it shows you can pay off a huge amount and not worry & really I only use it to pay for petrol then automatically set up paying off the debt when its due. At christmas I did use it more as had a holiday to pay for and christmas presents but my bill arrives a few days after I get paid so it works out alright.
Also getting a phone on monthly contract and paying it off each month goes towards your credit rating.

[scottish]

After not wanting one for years I heard loads of people saying you need one to help get a good credit score if you ever need to borrow say for your mortgage etc.. so I looking into it and got a nationwide credit card with a £500 budget which I have now raised to £3,000 as having more money on it shows you can pay off a huge amount and not worry & really I only use it to pay for petrol then automatically set up paying off the debt when its due. At christmas I did use it more as had a holiday to pay for and christmas presents but my bill arrives a few days after I get paid so it works out alright.
Also getting a phone on monthly contract and paying it off each month goes towards your credit rating.

pretty sure stuff like car insurance, house insurance (or insurance in general really) that you pay off rather than pay once annually go towards your credit rating too.

never looked at my credit rating so couldn't say for sure.

[Re-Call]

pretty sure stuff like car insurance, house insurance (or insurance in general really) that you pay off rather than pay once annually go towards your credit rating too.

never looked at my credit rating so couldn't say for sure.

Yeah, anything that you pay off like direct debit or monthly goes towards it. Im sure more goes towards it which isn't listed yet.
I pay for insurances yearly, I signed up to Experian last year to check mine & I got a month free trial, you have to ring up and cancel before it runs out or they'll automatically charge you

[scottish]

Yeah, anything that you pay off like direct debit or monthly goes towards it. Im sure more goes towards it which isn't listed yet.
I pay for insurances yearly, I signed up to Experian last year to check mine & I got a month free trial, you have to ring up and cancel before it runs out or they'll automatically charge you

yeah I used to then changed it to monthly, yeah that's why i never bother with the free credit checks.

More effort to cancel it than it's worth :P

[Re-Call]

yeah I used to then changed it to monthly, yeah that's why i never bother with the free credit checks.

More effort to cancel it than it's worth :P

It was a hassle to cancel it... Tried to sell me more and trying to offer me more advice on how to maximise my credit score etc... No thanks I just wanted to know my score and thats all I wanted to use it for

[Zak]

Everyone who says you're not ever gonna get one, you do realise that if you ever want a mortgage/other kind of loan for something then it's extremely hard to without having a credit history? There seems to be huge stigma among young people as they tend to see credit cards as an easy way to get into debt/only there to like, help you put off the debt until the end of the month ETC

I would really suggest anyone with a steady-ish income stream gets a low-interest card (check out moneysavingexpert for good deals and things, I have a wonderful CapitalOne card as a lot of places won't give one to young people/with no credit history) with no monthly fee (lots of places are sneaky with this) and buy small things you KNOW you can afford! I buy my food shopping with it, some people pay off phone contracts, just use it for socialising etc

I also find it a really good way of keeping track of my food expenditure as all of it goes on that card and I get a statement every month so I can budget better!

:)

It baffles me how people are already getting into money troubles for having one. Don't spend what you can't pay off! lol

[welshcake]

I don't have a credit card but for the credit rating reasons, I have always thought about getting one. I know Alysha has always said that too.

Not that I have a bad credit rating though and I know that because I sadly have that Experian and sadly have paid for it on accident! BECAUSE YOU HAVE TO RING TO CANCEL IT and I did have a free year before this after Morrisons 'accidentally' leaked some of my personal details along with thousands of other people's. :))))

[lawrawrrr]

It baffles me how people are already getting into money troubles for having one. Don't spend what you can't pay off! lol

I know! I guess it's the thrill of being able to spend and not have to pay it off right away, but if you don't know when your next pay check is/how much it is then I just can't see why someone would buy things!

It's just a difference in attitudes really, I've been brought up by a dad who works in banking (well more stock brokerage I think not 100% what he actually did before) and a mum who worked in a bank as well, so I've been taught to handle money really really carefully and sensibly! Which I'm massive grateful for of course :p


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[GoldenMerc]

I'd like one just to buy petrol on, but don't want to make that risk

[Zak]

I know! I guess it's the thrill of being able to spend and not have to pay it off right away, but if you don't know when your next pay check is/how much it is then I just can't see why someone would buy things!

It's just a difference in attitudes really, I've been brought up by a dad who works in banking (well more stock brokerage I think not 100% what he actually did before) and a mum who worked in a bank as well, so I've been taught to handle money really really carefully and sensibly! Which I'm massive grateful for of course :p


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Are you going to follow them into banking? Think I'd like that - good money too.

I suppose I only starting using my CC when I started working full-time so it was never an issue. It is depressing getting your paycheck though and then paying your card off and seeing loads of cash just disappear lol

[lawrawrrr]

Are you going to follow them into banking? Think I'd like that - good money too.

I suppose I only starting using my CC when I started working full-time so it was never an issue. It is depressing getting your paycheck though and then paying your card off and seeing loads of cash just disappear lol

God no, I don't have a mathematical bone in my body! Can't imagine anything worse. I'm staying in marketing/graphic design :p I just like, have their advice which is nice and I know other people have benefitted from me passing it on as well.

I'm the same, I got mine and didn't use it for ages cos I was kinda scared but I still don't put that much on it, it's about £200 a month ish which is easy to pay off when I've got a guaranteed salary of, well, more than that, every month and not a huge amount of other expenses (apart from rent which comes off my debit card)


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[x-s-x]

I don't have a credit card and I never want one. That is something I have promised myself :) Although I am planning on getting a loan out for around £6000 then paying it off monthly over 2 years. Just need a steady job first! x

[e5]

I don't have a credit card and I never want one. That is something I have promised myself :) Although I am planning on getting a loan out for around £6000 then paying it off monthly over 2 years. Just need a steady job first! x


Having a credit card and paying it off in time first would build up a credit history and give you more of a chance of getting a £6000 pound loan! Obviously there's other ways but imo a CC is the easiest way aslong as you pay back. Even spending £50 a month on it and paying it off be next would be fine as you'd probably spend that from your normal wage anyway!

[OldLoveSong]

i have 1 and hardly ever use my debit card. i always pay things off by the end of the month so im not worried about going into debt

[Mikey]

I have one and I use it regularly but only ever buy things I know I will be able to pay off at the end of the month. I don't NEED to delay that payment but I want a good credit history and not having a credit history does not equal good credit history!

I have one with TSB and use it for the exact same reason. I only use it for stuff I know I can pay back, e.g my train pass every month and if I'm short on cash but I know with my next student loan payment or pay check I pay it all back. I also use it for the reason of building up a good credit history as Laura says, not having a credit history does not equal good credit history which I learned when I tried to apply for another bank accounts outside of my regular bank. :)

I would definitely recommend to get one, but just be sensible with it and only spend if you know that you can pay it back.

[mrwoooooooo]

I'd like one just to buy petrol on, but don't want to make that risk

what risk?

I've got one but I don't use it anymore

[x-s-x]

Having a credit card and paying it off in time first would build up a credit history and give you more of a chance of getting a £6000 pound loan! Obviously there's other ways but imo a CC is the easiest way aslong as you pay back. Even spending £50 a month on it and paying it off be next would be fine as you'd probably spend that from your normal wage anyway!

That's actually a good idea, I'd defo have to pay it off straight away though, credits card just worry me :/ x