Halifax HPI +0.5% MoM, +0.8% QoQ, -0.1% YoY

The_J

mystic_trev wrote: »

Sorry I've got to disagree with you. Using credit cards, have earned me enough Airmiles for a free return flight to Antigua a couple of years ago. I currently have enough Avios for a return Business Class flight to Singapore. My other credit card earns me cash back.

So by using a credit card I've had free flights and cash back! :j

How much have you spent on the credit cards to get those? How long did it take? You realise, of course, that if it wasn't cost effective for the credit card company they wouldn't do it... So if you didn't pay an extra for this, then "yay" you got a free flight but how many people are getting screwed by the interest to pay for that? Is it ok if you are alright jack?

If I want to go to Antigua, I would just pay for it. But then, in reality, if I got my seat free I would have to pay for the family in addition to me so that's a further 3 seats I may not have spent money on just to get my "free" seat.

It's amazing how the consumer mind works. It's almost like a Nigerian 401 scam. "We will give you XYZ but first you have to transfer the monies to us for a period of 5 years."

Graham_Devon

The_J wrote: »

How much have you spent on the credit cards to get those? How long did it take? You realise, of course, that if it wasn't cost effective for the credit card company they wouldn't do it... So if you didn't pay an extra for this, then "yay" you got a free flight but how many people are getting screwed by the interest to pay for that? Is it ok if you are alright jack?

You really don't have a clue do you.

All credit card purchases include a fee from the CC company to the merchant to process the payment. The credit card company will bill the merchant for accepting this method of payment. Hence some merchants adding credit card surcharges.

Therfore, credit card companies offer you incentives to make a transaction with your credit card, rather than another means of payment, as it increases turnover.

DpchMd

Graham_Devon wrote: »

You really don't have a clue do you.

All credit card purchases include a fee from the CC company to the merchant to process the payment. The credit card company will bill the merchant for accepting this method of payment. Hence some merchants adding credit card surcharges.

Therfore, credit card companies offer you incentives to make a transaction with your credit card, rather than another means of payment, as it increases turnover.

The J, when you've had your a*s handed to you by Graham_Devon you know the jig is up.

chewmylegoff

The_J wrote: »

How much have you spent on the credit cards to get those? How long did it take? You realise, of course, that if it wasn't cost effective for the credit card company they wouldn't do it... So if you didn't pay an extra for this, then "yay" you got a free flight but how many people are getting screwed by the interest to pay for that? Is it ok if you are alright jack?

if you use a credit card to channel all of your expenditure, which you then pay off the bill without paying any interest, the credit card company will not shut your account down, because they are still making money out of you through (a) the charge they make on the vendor and (b) the fact that they do not forward the money to the vendor until well after the transaction has happened (six months in AMEX's case - so if you pay on time they are sitting on the money for five months).

the net effect of this is of course that prices at the till go up to cover the cost to the vendor of people paying on credit cards.

however, given that this situation will persist unless everyone stops using credit cards, it is pretty silly to suggest that people should avoid using them to collect the rewards of doing so. that would fall into the category of cutting off one's nose to spite one's face.

System

I don't have a CC, I feel like I should have one.

Graham_Devon

Joeskeppi wrote: »

I don't have a CC, I feel like I should have one.

It's definately worth it.

I had a VERY large car expense recently, nearing a grand. I paid for it via credit card and logged in the next day and sent the money from my current account to my credit card to pay it off.

OK, it's not massive, but I got enough points (Tesco clubcard) to either exhcnage them for an £8 toy (for example the next time tesco do their clubcard exchange) or pay for a slap up take away £16 pizza from pizza hut.

That's just for paying that one bill via one card instead of another. What's not to like (apart from spending the money in the first place?)

Of course, I'll not see it as £8 for a toy at tesco, as it all add's up and I generally keep vouchers until I need them. Last time I got the car serviced entirely with clubcard points....made up mostly of credit card spending, as I don't buy much in tesco stores.

abaxas

Pimperne1 wrote: »

The HPCers don't like this news.

Nice.

• Sharp fall in sales in April. Home sales fell by 18% between March and April, providing further evidence that the expiry of the stamp duty holiday for first-time buyers at the end of March encouraged some to bring forward their house purchases to beat the deadline. Nonetheless, sales were still 3% higher than in April 2011. (Source: HMRC)
• Housing market conditions have tightened slightly since the end of 2011. The supply / demand balance in the market, as measured by the ratio of house sales to the stock of unsold properties, has tightened a little in recent months. This modest improvement in market conditions has probably helped to support house prices. (Source: RICS's monthly survey)

Are you sure?

The_J

Graham_Devon wrote: »

All credit card purchases include a fee from the CC company to the merchant to process the payment. The credit card company will bill the merchant for accepting this method of payment. Hence some merchants adding credit card surcharges.

The fee, compared to the interest earned, is negligible. In fact, it is used mainly to cover costs (framework, staff etc.). Maybe this is a surprise to you? I hope not.

What you are not denying is that credit cards lead to higher prices for all. Something you are happy about?

I also had a car expense of 2 grand about 6 months ago. I offered to pay in cash if he gave me a discount and we settled on 1800. Slightly better than your !!!! £8 toy. Try it next time, you'll be amazed at what cash will get you.

Graham_Devon

The_J wrote: »

The fee, compared to the interest earned, is negligible. In fact, it is used mainly to cover costs (framework, staff etc.). Maybe this is a surprise to you? I hope not.

!!!!!! are on you about....to cover costs. It's a business. It's income. It's not seperated out to cover the costs of staffing.

You make it sound like some sort of charity.

Your squirming and excuses are brilliant though, so for that reason, I love your posts.

mystic_trev

The_J wrote: »

I also had a car expense of 2 grand about 6 months ago. I offered to pay in cash if he gave me a discount and we settled on 1800. Slightly better than your !!!! £8 toy. Try it next time, you'll be amazed at what cash will get you.

If I can get a better deal for cash I will. However I don't think they'd be too impressed if i tried to 'negotiate' a cash deal down Tesco's :rotfl: