An Unusual One...

LardyCake

OfficeFairy wrote: »

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I was brought up by the motto that you don't spend what you don't have and so I've never felt the need to have unnecessary credit. ...

I think the same... but I still have credit cards, for the reasons Hooloovoo gave. The key is to pay them off in full each month.

Hooloovoo

OfficeFairy wrote: »

Thanks for the replies.

I wasn't aware that it was obligatory to have a credit card. I've managed without one all these years including renting cars.

I was brought up by the motto that you don't spend what you don't have and so I've never felt the need to have unnecessary credit.

It's not about having unnecessary credit.

It's about having flexibility. And given having a credit card costs absolutely nothing, and provides many benefits like cashback, you'd have to be absolutely mad to not have at least one card.

I've received hundreds of pounds in cashback over the last ten years, and have paid not one penny in interest. And when a hotel puts a pre-auth on my card, it doesn't block up real funds in my current account.

RobertLamb61

exactly the same thing happend to me with a car hire. messed up my plans but a chat at the banks meant they gave me an 'eregency' overdraft extension to cover it until the charge disappeared. not happy.