People who ask "should I get a credit card?".

Norvegia

To the above poster,
The currys car park scenario :
the transaction is not yet fully completed as you are still on their property therefore they are obliged to replace goods,
CC will argue your refund for you if there is a problem,

Distance selling scenario:
Pay by any means other than CC you on your own to fight the battle
Use a CC they will refund you and argue with the supplier.

I take it you agree with the free money point I made.

Doshwaster

I've had credit cards (usually several at a time) for over 20 years and I think I've only paid interest a handful of times. Most of those were just due to bad planning on my part but when I bought my first house I had some unexpected expenses which exhausted my contingency fund but that got paid off within a few months. I may have paid a few pounds in interest but it got me out of a sticky situation.

If you are responsible with money then credit cards can be very useful things - and indeed essential for some things. They only become a problem if you are reckless with them. I had an ex-girlfriend who got her first card and went out on a big shopping spree with no plans for how and when it would be paid off. She really had no concept of future planning.

Hazzinho

Always use credit cards for the online protection and always switch to 0% cards. Also means my credit file is full of well managed accounts so I never have problems getting credit. If you are young and manage credit well it'll put you in a good place for applying for a mortgage. The only reason people see CC as negative is because there are a lot of people who can't manage credit and don't think how they'll pay it back.

Herbalus

I think most of us are on the same page with this one, but some are further along the line than others. I, for example, think that asking the question doesn't have to indicate lack of financial understanding, but of course I understand those who view it like that, and they're probably right in most cases. But coming from a background of financial unawareness at 18 (I got my first CC because the natwest student advisor asked if I wanted one and I thought "well, why not?"), I can also see that it isn't always a bad thing, because I went home and learnt to use it. Also, often when a person is unsure, and having done all the research, asking for confirmation is natural behaviour (even if it is online with strangers).

Herbalus

Norvegia wrote: »

I take it you agree with the free money point I made.

Yes, but don't let that fool you into thinking the rest of your post was also right!

Norvegia wrote: »

To the above poster,
The currys car park scenario :
the transaction is not yet fully completed as you are still on their property therefore they are obliged to replace goods,
CC will argue your refund for you if there is a problem,

Distance selling scenario:
Pay by any means other than CC you on your own to fight the battle
Use a CC they will refund you and argue with the supplier.

Nonsense.

Sale of Goods Act doesn't differentiate between payment types, so same protection applies to all payment methods.

And currys are not obliged to replace goods that you break yourself, regardless of where you are (and you're wrong about the transaction not being complete, by the way).

Norvegia

Above poster,

Sale of Goods Act doesn't differentiate between payment types, so same protection applies to all payment methods.

Your nit picking and missing the point,

If you dissect something too much then that is what happens.

I am referring to costs involved while challenging a retailer, in short if you pay by other means you incur any costs be it phone mail or legal,
Credit cards will foot the bill to pursue a case.

And both my points made we taken directly from a Martin Lewis interview on the tv, not his own show.

To sum it up,
Think of a credit card like a big brother who will beat up any retailer who bullies you.

If that isn't sufficient then We must agree to disagree

Norvegia

Credit cards are brilliant, it's the people who are the problem,

If credit cards are bad, then what about all other borrowing methods,

bayzat

Credit cards are more secure for online transactions; you should never use your debit card for online shopping since if someone steals your details, you expose your bank account to fraud. Whereas with a credit card, no damage will occur past your credit limit, and more importantly, the provider is usually more willing to reverse the charges.

Thrugelmir

Norvegia wrote: »

If credit cards are bad, then what about all other borrowing methods,

It's the manner in which credit card companies suck users in that's been the problem in the past 20 years. Now that unsecured lending is under the remit of the FCA. Expect far tighter regulation on lenders in the same way that the MMR has been imposed recently on mortgage lending.