Using a CC and the fear

Sunshinesally

I don't think the fear is a bad thing. I'm in my late 30's and haven't had a credit card since I was around 19/20. Never been in any major debt but the thought of it terrifies me. I grew up in a house hold with lots of arguments about lack of money. Hubby has a CC which is strictly for emergencies only now i.e new boiler etc. He is just appalling with money and in the past was using CC on stupid day to day things and then not paying it off. Ended up about 5k in debt just from fuel and baccy.
Personally I would only use it for emergencies, or purchases you have the immediate cash for but want extra protection of using CC. I think it's far too easy nit pay the full balance one month because the car needs new tyres or something else.

DawnW

We had credit card debt for many years, and could only meet minimum payments for quite a while . Eventually we were able to increase / overpay, and it was all paid off. No DMP, IVA etc (we struggled, but always managed min payments, albeit sometimes late, which further increased the charges), but it was like a millstone round our necks, and there is no way I would go there again

Had one or two credit cards since then, always paid off in full, but then thought why bother, paid them off and closed them a few years ago. Haven't had one since, and not likely to. I guess we are lucky as, being retired, our house is paid for, and we don't have to worry about credit scores (if indeed such things are important?). If we want something we pay for it in full, if we can afford to, and if we can't afford it, we don't have it, simple as that. Never had a problem getting a phone contract or anything like that (I gather they credit reference?)

Wouldn't work for everyone, as our lifestyle is pretty basic by many people's standards, but it suits us. Depends on circumstances / choices, like much else.

sourcrates

poppasmurf_bewdley wrote: »

Now I'm single again, just past my 70th birthday, and just returned from a two week trip to France with my girlfriend. .

Pop`s look at you, dark horse springs to mind...... i like the life style in France, copious amounts of cheap wine, cheese, french bread, calvados, street side cafe`s La chateaux, wonderful country !!

poppasmurf_bewdley

sourcrates wrote: »

Pop`s look at you, dark horse springs to mind...... i like the life style in France, copious amounts of cheap wine, cheese, french bread, calvados, street side cafe`s La chateaux, wonderful country !!

Unfortunately, we didn't find France particularly cheap. Diesel was around 10% more than here in Britain, and the exchange we got on the CC turned 84 Euros into £81! The £1.4k CC bill was for hotels and meals, and we spent about £500 on top.

But we did get to Oradour-sur-Glane, which was on my bucket list, and well worth the visit.

See the very first part of this video and you will understand why:
https://www.youtube.com/watch?v=0b4g4ZZNC1E&t=424s
It was the very first item in the very first episode of that world renown series The World at War.

datlex

OP, just make sure you set aside the money to pay each transaction so that at the end of the day when the bill is due you have the money available. Don't fall into the trap of the credit limit is what you can spend.

AnnieG

poppasmurf_bewdley wrote: »

But we did get to Oradour-sur-Glane, which was on my bucket list, and well worth the visit.

See the very first part of this video and you will understand why:
https://www.youtube.com/watch?v=0b4g4ZZNC1E&t=424s
It was the very first item in the very first episode of that world renown series The World at War.

I visited there many years ago, when I was 16 (I'm 45 now), and it left an everlasting impression on me. I think it's the most moving place I've ever been.

Trixysticks

Ahhh I know this feeling! I've chopped mine all up, never reaching for one ever again!

I don't care about my credit rating. When I want to go up in house, I'll be saving up for it :money:

enthusiasticsaver

Yes I have a healthy respect I think for credit cards as I know how easy it is to over spend on them. We use one for supermarket and fuel spends and pay it off by automatic direct debit in full each month.

Lauralou79

I never ran a massive Debt up but my credit card was the start of what debt I did end up in. I have not used credit in years, scared to go down that route!
However I'm thinking of getting a credit card purely for our big holiday in America next year. I will have the money saved but more for protection/rates etc. I'm very unsure though....

Just_Di

I often think a credit card should be called a "debt card" because that's what it is in reality.

So many consumers have suffered at the hands of the credit providers who, in my experience, tend to ramp up the interest just when you are struggling to pay the balance, and then assign/sell the account to a debt purchaser for a minimal amount after writing off the balance for tax purposes.

The debt purchaser then chases the consumer for the full amount.

Or am I just being cynical

Paying it off in full each month may help your credit rating to improve if you're planning to apply for a mortgage in the future.

Di