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Credit Cards, Cash, Overdrafts, Loans...

Featured Replies

Inspired by a poster's mention of not having used Credit Cards for a long time, and my own choice of not using them for the past 5-6 years, I was wonderign about other expats.

In this Internet age, most of the best buys, best priced deals, can be found online.

I've never used a card online, or any of this paypal business or anything.

When I do book a flight and it has to be an online payment, I get around it by giving my girlfriend the cash and letting her pay on her card.

But increasingly frequently I find myself looking at things online that I would buy in an instant if I had a card handy.

Then again, I'd probably be in serious debt if I did have one.

And other things also. Direct debit (ie: buying on credit and paying off monthly amounts) are a regular thing in the UK - a debt-ridden society.

Luckily, due to my nefarious activities abroad for a decade, I'm not even eligible for either a card (credit), an overdraft, and not even Direct Debit, as yet.

Otherwise, surely I would have bought a big flat screen by now. According to Clarkson, I can consider myself poor.

And so on and so forth.

Anything I buy, I must have the cash ready to pay upfront.

And I can't get in debt.

This strikes me on the whole as a good thing - though of course it means I'm not a fully participative member of the UK Populace.

Thoughts?

I buy very little on the internet, sites like PayPal won't accept my card, even though it's with an Australian Bank, because the order is placed in Thailand. This cuts me off from sites like Ebay where most vendors want to be paid through PayPal.

I got my sister to buy a few books for me once but when I saw her she wouldn't take the money so that was the end of that, I don't care if it was "only 20 bucks".

Anything I buy, I must have the cash ready to pay upfront.

And I can't get in debt.

This strikes me on the whole as a good thing - though of course it means I'm not a fully participative member of the UK Populace.

Thoughts?

It's good to learn that you KNOW you're a possible CC addict.

Keep it that way and you will never be one. :o

LaoPo

I learned my lesson hard whilst studying. The bank gave me a whopping big overdraft facility and tons of letters offering a credit card. I persuaded myself that getting a credit card would be good for "emergencies" and for my credit history. Of course, having so much ready money I ended up not keeping track of my spending and having a lot of fun, only to face the repercussions of debt later. Opening letters from the bank became a nightmare, i dreaded my card being declined when i used it, or it being swallowed in the machine, and worried about phone calls from unknown numbers that it was the bank telling me I was seriously overdrawn and in the red on my cc. Ended up having to work a couple of jobs during the rest of my degree to sort out my mess. After that experience I cut up my credit card and swore never to have one or get in debt again. Was a scary experience and a hard lesson, and Ive been pretty careful since.

I have paypal, but I dont use it often. I have my bank cards, and make sure i separate my money so that i can keep a track on savings and general spending. I also have a pre-paid credit card, well a card that works like a credit card, but i need to debit money into it. I pay just a small fee to keep it up and running, and thats good enough for me.

I may not have much money-wise, but I dont want to ever get into debt again.

You don't need a credit card these days to buy online.

Your current account card you use for the cashpoint will be a debit card and that is acceptable for payment, via the net or over the phone.

You don't need a credit card these days to buy online.

Your current account card you use for the cashpoint will be a debit card and that is acceptable for payment, via the net or over the phone.

Does that work for sites in different countries?

Not me, all I can use mine for is ATM withdrawals and direct withdrawal through a bank which involves an international phone call.

I love my credit cards and debit cards, have loads of them, both personal and business. Never use them irresponsibly and never have heaps of debt. I don't know how I could manage without them.

Is it about self control?

Most things online can be paid for with a debit card or paypal. You need to have the money in your account to use both.

I have 3 credit cards but only use my John lewis as it is interest free on all purchases & I get vouchers to spend in JL partnership stores every quarter. As I do all our meat & veg shopping in Waitrose I stack up a nice voucher refund at the end of each quarter. Works out well.

The other ccs are for emergancies but it does help to have them on occasion. Like when we came for holiay in march & Nationwide (where I hold my holiday spendiong cash cause zero withdrawal fees) decided to block my accounts as I tried to withdraw money at SUV airport on arrival. Took 2 days to get through as it was a Saturday. Would have been totally fcuked had it not been for my Virgin CC & the 3k baht cash I had from last holiday. :o

  • Author
I love my credit cards and debit cards, have loads of them, both personal and business. Never use them irresponsibly and never have heaps of debt. I don't know how I could manage without them.

Is it about self control?

:o:D :D :D :D :(:D

Don't be ridiculous, Tigs...

:P

Have a host of credit cretid cards and anything that can be spent using them I will, saves having to carry cash around, put them on 'full payment' terms direct debit each month and you don't forget to pay or get hit for late payments.

Even the wife has two credit cards. :o

It is a good way to control finances, just don't let them run out of control.

Good Luck

Moss

If you use Credit Cards wisely, you can have 0% free credit and have the money in the bank earning 5%ish. I knew i was going to be spending about £6k on various things, mainly for the house. Usually i would pay cash but i shopped around on Moneysupermarket.com and at the time, HSB where doing 0% for 18 months. So i bought the stuff and kept the money in my high interest account. Next year when the 18 months is up, i'll draw the money out and pay off the card in full and I'll have made a few quid on the savings. I will also shop around again for another introductory deal.

Admittedley, the banks don't like my sort of custom. And that makes me even happier :o

Yeah, who wants a happy bank! This is not a euphemism! :o

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