Student with first credit card - how much of my credit limit should I spend?

rehanmalik3030

takman wrote: »

I think this last post just shows how much of a troll you are!. This post is so factually incorrect I really find it hard to believe you can be serious?.

So igoring all the incorrect stuff just answer this one question:

You say that you can't use a Credit Card Responsibly. Lets say I purchased something over £100 to take advantage of Section 75 protection, while having the money in a savings account. This means I get cashback on the purchase and it also protects me from fraud because if the card details are stolen none of my money from my bank is taken. How can that be irresponsible use?

You ask a question and I will answer.

Firstly there are 1000's threads on this forum where the reason for the post is that the credit card holder is having problems claiming under s75

You make it out that s75 "is a given". No it is not its a minefield in its self thats why we have so many posts about it.

Secondly let me refer you to the following post by chris73

https://forums.moneysavingexpert.com/discussion/5440273

In summary poor Chris73 experienced fraud on his credit card account, he informed the credit card company, they then proceeded to take the money out of his bank account regardless.

Sorry did I hear you say "it also protects me from fraud because if the card details are stolen none of my money from my bank is taken."

You know and I know there are thousands of examples of the above on this forum.

takman

rehanmalik3030 wrote: »

You ask a question and I will answer.

Firstly there are 1000's threads on this forum where the reason for the post is that the credit card holder is having problems claiming under s75

You make it out that s75 "is a given". No it is not its a minefield in its self thats why we have so many posts about it.

Secondly let me refer you to the following post by chris73

https://forums.moneysavingexpert.com/discussion/5440273

In summary poor Chris73 experienced fruad on his credit card account, he informed the credit card company, they then proceeded to take the money out of his bank account regardless.

Sorry did I hear you say "it also protects me from fraud because if the card details are stolen none of my money from my bank is taken."

You know and I know there are thousands of examples of the above on this forum.

Obviously the Direct Debit shouldnt have been taken. But he did get his money back at the end of it. I would much rather money fraudulently taken from my Credit Card than from my bank account. If he didn't have the card then he would have just lost the money from his bank account directly instead.

Another good use for a credit card is business expenses. I recently went on a business trip and incurred over £1000 of expenses. I put this on my credit card and paid it off after I presented my receipts and the company put the money in my bank. If I didn't have the card I would have had to spend the money from my account and loose interest. A lot of people wouldn't have been able to afford these expenses at all!

I then got cashback on my all my expenses, so it's win win.

Sometimes Section 75 doesn't apply but when you consider how many people have had money refunded due to companies collapsing then it's definetly worth it.

Like I have said I have never paid any charges on a Credit Card, never missed a payment. Only paid interest on cash abroad (pennies) and Regularly get cashback. So if I can do it then so can anyone!