Avoid credit cards for financial prosperity

baby_boomer

I've been delighted with my decision to drop credit cards in 2008.

I know exactly where I stand financially every time I visit a cash machine. I am in control.

What more could I want ?

If there are any 3% cashback credit cards currently available, please let me know.

Or any other reasons to take up credit cards again in 2009.

sicker

I know exactly where I stand financailly too and use my Egg Money credit card for all I can, eg. Sunday papers £2.30 @ 1% cash back = another £1.19p per year cash back. It soon mounts up. Also apparently still paying 4% on credit balance which I maintain.

So NO I would not be without my credit card as it has no negatives for me.

Strapped

But if I didn't have my 0% credit cards, I might actually have to pay some interest on my offset mortgage - that would never do!

anotherpaul_2

Strapped wrote: »

But if I didn't have my 0% credit cards, I might actually have to pay some interest on my offset mortgage - that would never do!

I suspect that with interest rates coming down this is becoming rather less of an advantage. The transfer fee must be pretty close to the interest you save nowadays?

anotherpaul_2

anotherpaul wrote: »

I suspect that with interest rates coming down this is becoming rather less of an advantage. The transfer fee must be pretty close to the interest you save nowadays?

Though having now read as far as the "Is today the day stoozing died?" I see why it works for you. :-)

LongTermLurker

baby_boomer wrote: »

I've been delighted with my decision to drop credit cards in 2008.

I know exactly where I stand financially every time I visit a cash machine. I am in control.

What more could I want ?

If there are any 3% cashback credit cards currently available, please let me know.

Or any other reasons to take up credit cards again in 2009.

If it works for you...

Reasons to use credit cards? Well how about

1. making money from your spending?
2. managing your budget so you only have one bill (straight after payday)?
3. protecting yourself against scurrilous or bankrupt traders?
4. ability to get cash abroad without having to, er, get any/much cash?
5. taking advantage of cheap online prices and deals?
6. booking foreign holidays/flights/hotels?
7. scraping ice off the car?
8. smoothing out car/wall filler?
9. eating chinese takeaways when you're caught out without a fork?
10. sorry, I know there must be a tenth reason...

YorkshireBoy

LongTermLurker wrote: »

10. sorry, I know there must be a tenth reason...

Forcing entry through Yale type door locks...or so I'm told.

LongTermLurker

YorkshireBoy wrote: »

Forcing entry through Yale type door locks...or so I'm told.

ah, I knew I was missing something...

(actually, I thought of saying "sharpening to a fine edge to make entry to football matches easier" but I thought that might be as telling as your idea )

zfrl

Tesco clubcard credit card for the points! Gives me gym membership, meals and day trips. All for free as I pay it off every month.

dazza.mk

zfrl wrote: »

Tesco clubcard credit card for the points! Gives me gym membership, meals and day trips. All for free as I pay it off every month.

Think that's covered by making money from your spending as the clubcard credit card these days is only 0.25% CC points or 1% Deals (counting only the credit card clubcard points as opposed to the standard in 4 points per £5), better to have a 1% cashback card

zfrl

dazza.mk wrote: »

Think that's covered by making money from your spending as the clubcard credit card these days is only 0.25% CC points or 1% Deals (counting only the credit card clubcard points as opposed to the standard in 4 points per £5), better to have a 1% cashback card

I use it at Tesco so get the full benefit.