First time credit card potential buyer

MallyGirl

EthelbertHumphry wrote: »

Also, I am still not really understanding the main principles to why people get credit cards. I am only thinking about getting one because of the credit history needed to buy a house and maybe the cashback or other rewards, but they would not be worth getting the CC without the credit history. Why is being able to keep your real money until the end of the month so good? If you can afford to pay the balance at the end of the month, then all you are really saying is that you could have been able to afford to buy what you bought this month, in the next month, so why didn't you just wait a month?

My CC knowledge is lacking because only my dad used to have CCs and he is in massive debt now because he was using them to "fund having kids because you cannot fund them any other way". And I didn't learn about them in school. I am researching them online heavily.

My mortgage interest is calculated daily so the longer my money stays with me the less interest I pay. I put absolutely everything on CC and then at the end of the month I pay it off in full (or minimum payment if I have a 0% card on the go). The savings are lower with current mortgage rates but I remember paying 14% on my first mortgage. Once you have a solid credit history you get access to 0% cards to make more savings in this way (Stoozing)