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

Tixy

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"

And you get up to 54days to pay for your fractionally cheaper lunch

Niksan

Not an option on the poll, but the main reason I use one is to detach puchashing via card from my debit account should it get stolen/fraud yadda yadda, so more for safety reasons, albeit cashback @ 1% helps too, but isn't the main reason.

Soubrette

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..

We get about £200 worth of tesco points on ours per year because we put all our main purchases on the card so lots of groceries and petrol.

I like the added protection - was almost in a position a month or so back when I might have had to use it too.

For some reason cash in my purse gets frittered away unlike having a card. I know this isn't most people's experience but cash seems to mean buying a magazine or coffee and cake etc - I'd never put such a small amount on a card.

Ilona

I get point/cash back when I use it

I don't actually need a credit card because I always have the cash to pay for what I need. I have one because it's convenient to use on the phone, booking accommodation. I have just bought a car and put £1,000 on my credit card, as well as the insurance, just to get the points. When the statement arrives it will be paid in full.
Ilona

I_luv_cats

If you have money you can play the credit card game. I.e. Spend what you would normally spend and grab the cashback or incentives and get interest elsewhere in a savings account etc.

You have to be smart to remember to pay off or switch to another interest free card.

Credit cards are a safe way of paying for goods and services with section 75 and cash is gone if stolen. You need a cc to buy a mobile phone contract in some places. Do you want to put your debit card on the net or faff with a pre pay dc?

If you are poor or a spendaholic you probably don't see the zipping of the card as if it is /
was your money out of your wallet

BugsyBrowne

Can we set up another thread about why we don't need credit cards?

glewis

Dear all

Many thanks for the replies, I have jsut spotted the amount of discussion on and may re-do the poll adding the option of £100 protection on purchases :-)

And thanks for the suggestion of a new thread on 'People should need a credit card'

Kind regards
Giles

I_luv_cats

It's all a bit crazy. If there were no credit cards there would be all those jobs lost!

Call centres/payment centres/underwriters/card makers/advertisers n marketing people/debt chasers etc.

glewis

There are a few post on cashback 0.5-1.0%, but I think it is one of the Halifax CC that givens you £5/month if you spend £300. £60/year for a spend of £3600+/year which is approx 1.5%. But it is also interesting to see the number of people that have missed a payment (even if it is only one in the last 10 years :-).

Kind regards
Giles Lewis

Biggles

glewis wrote: »

And thanks for the suggestion of a new thread on 'People should need a credit card'

I think it was a joke.....