Putting all spending on credit card

cymruchris

I put everything I can on credit cards to benefit from points and cashback, and then pay in full each month. I've made about £300 in Amazon vouchers and probably about £150 cash back over the last couple of years. So I do it for the free money - but it's not easy to get that much these days as it once was. 

enthusiasticsaver

I use credit cards for large one off purchases but our debit card for day to day spending.  We do get points on one of them but I find it easier to budget using the debit card and the points are not enough to make it worthwhile putting everything on the credit card. Also now we are retired it does not seem as easy to get decent credit limits. 

JGB1955

I have three credit cards and put 90% of my spending on them.  I've made sure that I have both a Mastercard and Visa.  I get cashback on one card, Clubcard points on another and two of them are for commission-free spending and cash withdrawals abroad.  I pay my cards off in full every month. Since taking early retirement 9 years ago my credit limit has increased to £17,000 - far more than I need.

MovingForwards

Debit card / cash for general spending.
CC for big purchases.

I did put some shopping on my CC for a few months just to use it and had to produce statements when applying for my mortgage to show I was buying food; my outgoings are less than the ONS data the lender (sub-prime) would have used. 

Reddleman79

bambilegs said:

Hello , interested as to what it was about lockdown that led you to make the switch to putting all spending on credit cards?

Contactless facility. No other reason really. However I've gone back to using PIN for security since COVID restrictions ended.

MikeJXE

bambilegs said:

Hello , interested as to what it was about lockdown that led you to make the switch to putting all spending on credit cards?

I'm 82 years old and handling cash was a risk. Many places only accepted card plus I have the card on my phone and it's so much easier and quicker to pay, no need to carry a wallet 

Lumiona

For the last 5 years we've been paying for everything on credit cards and clearing it monthly. 

It streamlines the finances, only one payment out of the bank.

I like the extra cover S75 from paying on credit.

The main benefit is cashback / rewards. We gain around £250 a year simply by using our credit cards.

Noneforit999

I use my Amex for as much as I possibly can, everyday spending to big purchases.

I get 1.25% cashback on spending so its about £425 this year, credited early December and goes on xmas presents and the xmas drinks shop!

Plus it gives me S75 protection for anything over £100

Plus I get offers so money of XYZ, several of which I use throughout the year

Plus I can keep the money in my bank and simply pay the balance each month, I find it easier to have my bank for direct debits and the credit card for spending so I can separate the two. Personally I can manage money easier this way. 

Its an absolute no brainer for me. Your mileage may vary.

Ebe_Scrooge

I tend to use my credit card for pretty much all spending, for a few reasons.  Firstly, for the points I earn.  Secondly, for the S75 protection where applicable.  Thirdly, it's good for your credit history (not that I particularly need to improve mine, but there's no harm in adding more green ticks every month for zero effort).

The usual caveats apply, of course.  Always repay in full every month, and I only ever use it for routine day-to-day stuff, or a large purchase if it's planned and budgeted for (i.e. I have the cash saved up beforehand so I'll still be able to pay the CC at the end of the month).  The combined limits on my cards are such that, were I to max them out, there's no way on earth I'd be able to repay them at the end of the month.  But it's not difficult to be sensible and only spend what you can afford.

I do use debit card/bank transfer and cash on a few occasions.  Mostly when paying the handful of local small family-run businesses that I use and have a long-standing relationship with.  The mechanic who looks after our cars for instance - he does accept credit cards.  But he's such a diamond, always honest and exceptionally reasonably-priced, I don't want him to have to pay the credit card fees, so it's usually bank transfer for him.  Likewise for the local corner shop, again a family business (really don't know how they survive, to be honest, but it's the only shop left in the village).  Always cash for them.

Nebulous2

I mix and match a bit. Most of my expenditure for years went through my credit card as it gives 0.5% cashback. Pay it off every month.

Small items were cash in the past, but since lockdown I rarely touch cash. We have some stashed at home, intended for work on the house, that has been sitting there for a long time. Retailers became much more willing to take cards during lockdown, so we got into that habit and simply continued. 

I'm now putting most of my expenditure on my Chase debit card, as it pays 1% cashback.