MSE Poll: Do you use credit cards?
13 replies
3.5K views
MSE_Naomi
MSE Staff 469 posts
Poll started 7 October 2019
Credit cards are like fire. Used right and they're a useful tool, but get it wrong and they burn. So this week, we want to know if you have a credit card and if you do, how much debt – at 0% or otherwise – do you have on it?
Did you vote? Are you surprised at the results so far? Have your say below.If you haven't already, join the forum to reply.
Thanks!
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Replies
It kind of is implied where you have debt of £1,000+ on 0%. At least that's how I interpreted and answered it.
Not necessarily.
That COULD mean stoozing but equally it could refer to a person who has a substantial amount of credit card debt they have no immediate means of paying off which just happens to be on 0% cards, two very different situations.
I doubt I can get a new card. Retired, more than ten years to state pension age, so what's my income for an application form that someone who knows nothing about safe withdrawal rates might decide is fraudulent? I understand them and it's still something of a Schrodinger's cat figure. Would an underwriter agree that a figure based on success in 25% of historic cases is appropriate based on Blanchett's work? Would they agree with my life expectancy view based on what I know about myself?
This doesn't worry me, given investments more than five times my total secured and unsecured debt and ample income to meet my needs.
I didn't even know there was such a thing as stoozing! I had to look up what it meant. #amateur
That's fair enough, I'd never heard of it before I discoved MSE either
If you're strict with yourself and have the self control to only buy what you would have bought anyway if you had no credit card at all, it's basically free money.