Self Crediting Consumer: Give Credit Cards the Boot!

bolo

I have not paid a penny of interest to credit card companies yet they give me 4% cashback on purchases, They have also loaned me thousands of pounds at 0% 0 fee. I admire your viewpoint, but to totally dismiss credit cards is shooting yourself in the foot, cos there is money from them to be made!

Zebedee69

Nessa56 wrote: »

I must admit I have messed up on cards in the past, but hopefully I have now learnt my lesson, apart from knowing how to make them work for me, still working on that one, cashback??

I agree with all the reasons for having them posted on here and just don't understand why you would not have one at all, far too convenient in an emergency not to.

Hey ho

Go back to the DFW forum...............

Is the reason you "choose" not to use a card that Vanquis refused you one:rotfl:

Cards are ace, they allow you to do things and give you flexibility. They also earn people on here money and they allowed me to start a courier business which is doing nicely and will pay it all back on its own.

Almost everyone on the DFW board preaches never get in debt. Good debt is good, bad debt is very bad especially when its handled badly.

loveandlight

Posted by Zebedee69
Cards are ace, they allow you to do things and give you flexibility. They also earn people on here money and they allowed me to start a courier business which is doing nicely and will pay it all back on its own.

Almost everyone on the DFW board preaches never get in debt. Good debt is good, bad debt is very bad especially when its handled badly.

I agree with this 100%! In the right hands, credit cards can be used in a positive way. They got me out of a bad situation many years ago when I was made redundant and they also enabled me to qualify in the legal profession as they paid for my books, course fees etc.

Zebedee69

loveandlight wrote: »

I agree with this 100%! In the right hands, credit cards can be used in a positive way. They got me out of a bad situation many years ago when I was made redundant and they also enabled me to qualify in the legal profession as they paid for my books, course fees etc.

Books, Course Fees etc = Good Debt

Starting a profitable second income courier business = Good Debt

Keeping going through a sticky patch and getting back on course = Good Debt

Buying a wide screen tv, new sofa, new car, refinancing through First Plus and ending up £30000 in debt being repossesed with nothing to show for it except 2 CCJ's a failed IVA and staring down the barrel of a BR = Bad Debt

Of course some people never get there thick head around this and they should never borrow. Doesnt mean we have to stop though, when im off to my next courier job il kiss my little Amex card...... Without you baby I wouldnt have done it:D

MABLE

Kingswick wrote: »

Offensive - give me a break! :rotfl: Did I say I had misused anything?

All I am saying is that it IS possible to live without credit cards: we did before them and we can afterwards. It's a fact. Accept it.

The humble debit card replaces the credit card and you just have to make sure you have transferred a suitable amount for travel emergencies. etc.,. into a current account - If you go on holiday, the emergency amount may well need may be several thousands - to be put back if not used.

You save your cash and then use it as you will. The credit cards are there to make money - our money remember!:eek:

It ain't rocket science mate!:j

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Please someone pass me the vomit bucket.

exel1966

Kingswick wrote: »

I made a sound decision not to have another credit card and simply turn myself into an SCC, or rather a 'Self-Crediting Consumer':A .

After settling my card debts, finally:j , I elected to pay into various personal savings accounts around 50% of the amount I used to waste servicing my Visa and whatever cards.

The result?:cool:

Each month I am putting away a good amount of cash and each month I always seem to have anough to cover those occasional needs - like a new TV or a holiday.:D

I am amazed at how much money I have saved.

Setting up standing orders to put away a set figure into each of my savings accounts was easy.

Presently I have a domestic savings account; car account; holiday account and animal account (for vet bills, etc.), and I have never looked back.

And it is me who gets the interest and who never needs to pay service charges, whatever.:T

I cannot recommend enough such a simple and self-affirming system, and I am sure many of you out there may be utilising a similar plan.

The truth is that we do not need credit cards: they need us.:money:

TIP: Open another current account with a bank debit card attached and use it by occasionally transferring sums to use when shopping or on holiday, etc. That way your main account is kept separate and relatively safe.

What a load of old Tosh !

The truth is you couldn't handle a credit card, but 'we' can and know exactly how to benefit from them ! :rolleyes:

System

Zebedee69

Your posts are becoming increasingly irritating.

As I recall from some of your previous posts you yourself had some problems in the past, yet with increasing regularity I find posts by you sneering and putting people down for using the likes of Vanquis and Cap 1 cards and forever dropping in the fact that you have a wonderful Amex card. In all honesty mate, no one cares!

I must say you do give some good advice and make valid points, just please give it a rest with the bragging berating and remember that some people are not as good as you with money and have to start somewhere - even if that does mean holding a Vanquis / Aqua / Cap 1 card!

Regards
UNDERGROUND

Zebedee69

UNDERGROUND wrote: »

Zebedee69

Your posts are becoming increasingly irritating.

As I recall from some of your previous posts you yourself had some problems in the past, yet with increasing regularity I find posts by you sneering and putting people down for using the likes of Vanquis and Cap 1 cards and forever dropping in the fact that you have a wonderful Amex card. In all honesty mate, no one cares!

I must say you do give some good advice and make valid points, just please give it a rest with the bragging berating and remember that some people are not as good as you with money and have to start somewhere - even if that does mean holding a Vanquis / Aqua / Cap 1 card!

Regards
UNDERGROUND

First things first:

Cap1 and Vanquis kick !!!, they provide a great way to enter the world or credit and build a nice rating. I loved my Cap1 when I had it (Lovely picture of tiger on front) and I think you miss the tongue in cheek way I write my posts.

Im always the first to offer support to anyone (okay thats a lie id have to be on 24 hours a day) who needs it on here and iv helped loads of people via pm messages with problems.

Iv been thanked 303 times in 223 posts, I must be doing something right huh.........

neverdespairgirl

Credit cards can be great - they are a good servant, and a poor master.

They are often a terrible way to borrow money long-term, unless they are on a 0% or low balance.

But they can also be a good way to get consumer protection, to get a delay in paying for things, and at low rates, a good way to borrow money. Of course, some cards also have cashback / points etc.