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Why do we (people) use Credit Cards as there is no such thing as a free lunch?

13

Comments

  • I can play the Credit Card Co at the money game [use their money whilst I get % on my money]
    Agree with StephenM and Mrs Manda above. It's more convenient, safer than cash, and easier to monitor spending than cash. Every few days I check my Egg card and put the amounts I've spent on a spreadsheet which includes my current account and my two pension incomes. The card is paid off monthly. No interest charges ever and 1% cashback.
  • BugsyBrowne
    BugsyBrowne Posts: 5,697 Forumite
    I like having credit cards for making some serious money back from the banks with their cashback cards, for the last 6 months i've been spending loads on my card and when I see my statement and what cashback I earned, I was over the moon to see I made £2.30, now if I carry on doing that for the next 5 years that will add up to £100 in 5 years,told you get a cashback card if you want to earn some serious money..
  • Blobby8_2
    Blobby8_2 Posts: 2,009 Forumite
    I get point/cash back when I use it
    I use Capital One
    1% on everything I spend plus £10 pa - Last year £131 this year £121. Whats not to like ?
  • Blobby8_2
    Blobby8_2 Posts: 2,009 Forumite
    I get point/cash back when I use it
    star-fire wrote: »
    I like having credit cards for making some serious money back from the banks with their cashback cards, for the last 6 months i've been spending loads on my card and when I see my statement and what cashback I earned, I was over the moon to see I made £2.30, now if I carry on doing that for the next 5 years that will add up to £100 in 5 years,told you get a cashback card if you want to earn some serious money..
    Maybe your lack of arithmetic ability is holding you back ?

    230p in six months is not £100 in 5 years, have another go. Maybe change your card ?
    http://www.capitalone.co.uk/creditcards/world-mastercard.jsf
  • jackieblack
    jackieblack Posts: 10,565 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 4 February 2011 at 3:06PM
    It helps me manage my money/cash flow better
    MrsManda wrote: »
    Better protection than using cash/debit cards
    Easier to monitor spending than using cash
    Cashback on spending
    Greater protection/cashback when buying things online
    Improved credit history

    Almost everything I buy, I pay for on a credit card for precisely the reasons above. I don't spend what I don't have available in the bank and pay the full balance at the end of each month.

    As above
    Plus, like most people, our pay is paid straight into the bank and it's more convenient than to keep withdrawing cash, especially now alot of places won't take cheques anymore.

    The points/reward given are an added bonus, but we don't spend any extra because of them.
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  • BugsyBrowne
    BugsyBrowne Posts: 5,697 Forumite
    Blobby8 wrote: »
    Maybe your lack of arithmetic ability is holding you back ?

    230p in six months is not £100 in 5 years, have another go. Maybe change your card ?
    http://www.capitalone.co.uk/creditcards/world-mastercard.jsf

    Yeah my sums didn't add up,I was having a laugh, to be honest I just have my cards because I can I suppose, and protection, But still believe cashback cards are more suitable for the high rollers who actually see excellent returns after a year.

    Yes £100 in a year is something I suppose, but to me don't think I would waste my time on a cashback card if I am getting pocket money like that at the end of the year.
  • It makes a charity donation when I use it [and give me a feel good factor]
    I use it because if the card gets cloned and a fraudster spends all of the available credit, its the banks money they've spent and not mine, my salary will be sitting happily in my current account preventing me from being without cash in the event of fraud.
  • star-fire wrote: »
    I like having credit cards for making some serious money back from the banks with their cashback cards, for the last 6 months i've been spending loads on my card and when I see my statement and what cashback I earned, I was over the moon to see I made £2.30, now if I carry on doing that for the next 5 years that will add up to £100 in 5 years,told you get a cashback card if you want to earn some serious money..

    Its a while ago now, but my credit card got me a total of about £5000 discount on two Vauxhalls before they introduced their model limit. That card has now been scrapped, so my rewards are now limited to £5 a month.
  • nzseries1
    nzseries1 Posts: 2,240 Forumite
    It makes a charity donation when I use it [and give me a feel good factor]
    Why do we (people) use Credit Cards as there is no such thing as a free lunch?
    I guess the moral of this thread is that while it is true that there is no such thing as a free lunch, there is a such thing as a "fractionally cheaper lunch that comes with 0.5% cashback and section 75 protection if you end up with cold fries as long as your lunch cost more than £100" :D
    You're spelling is effecting me so much. Im trying not to be phased by it but your all making me loose my mind on mass!! My head is loosing it's hair. I'm going to take myself off the electoral role like I should of done ages ago and move to the Caribean. I already brought my plane ticket, all be it a refundable 1.
  • BugsyBrowne
    BugsyBrowne Posts: 5,697 Forumite
    nzseries1 wrote: »
    I guess the moral of this thread is that while it is true that there is no such thing as a free lunch, there is a such thing as a "fractionally cheaper lunch that comes with 0.5% cashback and section 75 protection if you end up with cold fries as long as your lunch cost more than £100" :D

    Exactly true mate on that one.
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