Is it OK to use a credit card in the following way?

datlex

I definitely agree spending on a card is good if you have the money already to pay for it. From my point of view there are two reasons to do so: 1) to earn cashback or vouchers, 2) to buy items over £100 to get the extra protection. These days interest rates are so low it hardly seems worth it for any other reason.

I know some card companies let you make more than one payment in a month so long as you don't try to pay more than the current balance. I find this handy as it reduces the temptation to spend both from bank account and on a card.

zerog

datlex wrote: »

I know some card companies let you make more than one payment in a month so long as you don't try to pay more than the current balance. I find this handy as it reduces the temptation to spend both from bank account and on a card.

Umm... do any CCs NOT let you make payments whenever you like?? And I can't get my head around why anyone would think spending direct from their bank account and on a card is different.

Thrugelmir

zerog wrote: »

And I can't get my head around why anyone would think spending direct from their bank account and on a card is different.

Easy to overspend on a CC. Simply by losing track.

19lottie82

zagfles wrote: »

That's far more likely to lead to "miscalculations" than using a credit card

Not in my experience. I find it is pretty easy to "overspend" on a credit card, as your balance takes three working days to update.

dzug1

zerog wrote: »

Umm... do any CCs NOT let you make payments whenever you like?? And I can't get my head around why anyone would think spending direct from their bank account and on a card is different.

Because some people are ill disciplined numpties who can't control their spending and see their credit limit as a target to be exceeded rather than something never to approach in normal circumstances?

19lottie82

above post reported as spam. 5 nonsense posts across the board in half an hour from new user, including one in Spanish. hit that button folks!

gb12345

19lottie82 wrote: »

above post reported as spam. 5 nonsense posts across the board in half an hour from new user, including one in Spanish. hit that button folks!

I was hoping he was going to return to the thread to elaborate on how using a credit card can save you from bankruptcy.

zagfles

19lottie82 wrote: »

Not in my experience. I find it is pretty easy to "overspend" on a credit card, as your balance takes three working days to update.

If you're unable to remember what you've spent in the last 3 days, keep the receipts, or note it down. Not rocket science!

Whereas with a contract mobile do you really know exactly how much that long 0844 call to your bank cost, or how much you'll pay for using google maps abroad?

You don't get people coming back off holiday complaining they can't understand how their CC bill is £3000, you do get it with mobile bills. If you can't budget with a CC you've got no chance with a contract mobile.

R_P_W

I pay for everything on my credit card. Even a pint of milk in tesco!

I then clear the balance every month and I get with cash back or points for doing it.

My spending habits don't change just because it's a credit card!