Credit Cards - Don't You Just Wish...

BugsyBrowne

moonrakerz wrote: »

Perhaps big gus is one of those "strange" (ie: honest !) people who believe in paying back what they borrowed..................... ultimately, from the rest of use !

No its nothing to do in being honest, its actually him trying not to swallow his pride and being stupid if you ask me.
He his 38k in debt £750 a month if he don't go bankrupt he is silly.

aaronb74

star-fire wrote: »

I am not saying you in particular just saying it in hindsight,just someone who I had a bust up with on here the other week claiming he is earning hundreds on cashback.
I am not saying I don't believe him just saying a slight exaggeration I think.
4 cc's is not that bad but its the people who are earning 20k a year and for some stupid reason they think they require having 4 or 5 bank accounts for this.
WHY!!

Someone's salary makes no difference to how many bank accounts they need. I'm sure someone who earns £400,000 a year could survive with just one current account.

I earn £22k and have 3CC's and 4 bank accounts, not including savings accounts. I manage my finances perfectly well and see absolutely nothing wrong with it. All the accounts and all the CC's have their uses and the reasons for having them are in no way stupid. I have never paid interest on any of the CC's and could clear them any time I wished.

dzug1

Wood.Justin wrote: »

What are your stories?

Regards,
- Justin

Well my story is that I've had credit cards (normally no more than two at a time and a maximum of three) for thirty plus years and only once paid a few pence in interest as the result of an error (by me:o) in the monthly payment.

big_gus

star-fire, you have an astonishing insight into the lives of people on here. It's quite a gift.

tara747

star-fire wrote: »

I am not saying you in particular just saying it in hindsight,just someone who I had a bust up with on here the other week claiming he is earning hundreds on cashback.
I am not saying I don't believe him just saying a slight exaggeration I think.
4 cc's is not that bad but its the people who are earning 20k a year and for some stupid reason they think they require having 4 or 5 bank accounts for this.
WHY!!

To get maximum interest... some current a/cs offer good interest rates but only on the first £2,500 or whatever. If you have serious savings, it's worth opening multiple a/cs.

p.s I earn more than £20k but I had more than one bank a/c (for the same reason) even when I was on £20k.

star-fire wrote: »

No its nothing to do in being honest, its actually him trying not to swallow his pride and being stupid if you ask me.
He his 38k in debt £750 a month if he don't go bankrupt he is silly.

What a lovely attitude. Just lovely. :mad:

I admire him, he is trying his best to pay what he owes, just like all the DFWs here. They're not taking the easy option of BR and I applaud them for it. :T

MrsManda

star-fire wrote: »

TBH I do trust myself with credit cards but as I am not one these wallys who believes they need credit cards for their millions they pretend to get back in cashback,I feel that once my balance's are down I am going to keep 1 credit card and ask for a reduced credit limit of a 1k.

You read stories on here about how some people have about 4 bank accounts 6 credit cards and these are the people who think they are in control of their finances.

The number of credit cards and bank accounts is irrelevant, it's how you use them which is important. By the sound of the beginning of your post you don't pay off the balance of your credit card each month which suggests that you are spending money you don't have and wracking up interest which is not great. Whereas if you're paying off the balance every month then you're not spending money you don't have but making your money work for you - cashback, interest on savings etc... as well as the protection CCs provide.

It may be worth reading the thread on why people use credit cards:

https://forums.moneysavingexpert.com/discussion/3026102