Ah yes, i forgot to mention. I do not live in the US so my(our) credit rating system does not work that way. The only positive thing for me would be the insurances etc.
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What credit cards do you use?
- Thread starter h1r0ll3r
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Ah yes, i forgot to mention. I do not live in the US so my(our) credit rating system does not work that way. The only positive thing for me would be the insurances etc.
I have a Wells Fargo Secured and Capital One Journey for Students.
I'm thinking of going for an AMEX Blue Cash Everyday and Chase Freedom. The former because they are an awesome company to work with and the latter because the cash back is pretty good for everyday things.
Don't get me wrong, I'm not a big spender carrying a lot of debt. I just prefer to have up to 3-4 cards to build credit when I take out loans for more school, auto, and mortgage in the future.
Stupid how in America you need to have credit usually to get credit.
I'm thinking of going for an AMEX Blue Cash Everyday and Chase Freedom. The former because they are an awesome company to work with and the latter because the cash back is pretty good for everyday things.
Don't get me wrong, I'm not a big spender carrying a lot of debt. I just prefer to have up to 3-4 cards to build credit when I take out loans for more school, auto, and mortgage in the future.
Stupid how in America you need to have credit usually to get credit.
A Barclays premier visa, for Internet stuff (only 1k limit)
And a Barclays gold for sources that are a little more trustworthy
And a Barclays gold for sources that are a little more trustworthy
The extended warranty protection on my AmEx got me a new iPad when my old one broke outside of Apple's one year warranty. Rewards have gotten me hundreds of dollars in cash-back over the years.
Still no reason to have a credit card?
I have an Amazon MasterCard, which is my daily credit card used for shopping etc, and paid off in full at the end of each month.
I also have a BarclayCard - only opened this for the £20 Amazon voucher and £20 cashback! Lol. Still, it has 0% on purchases for another year so could come in handy. Never really use it much though. May close it soon.
With both the above I have around £200 in Amazon vouchers in my Amazon account.
I did have a Play.com card which was my daily card first for a couple of years and have had over £1000 worth of vouchers through it!
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True, but I only ever use my credit card to get he benefits that come with it, like building points for vouchers etc. it's gettin something for free.
Just because you have a credit card doesn't mean it's more debt. You just spend exactly as normal and pay off the card every month and you are still debt free, but have some vouchers for free.
You do need to be good with money though - some people get a credit card and think its free money! That's when the debts rack up!
I also have a BarclayCard - only opened this for the £20 Amazon voucher and £20 cashback! Lol. Still, it has 0% on purchases for another year so could come in handy. Never really use it much though. May close it soon.
With both the above I have around £200 in Amazon vouchers in my Amazon account.
I did have a Play.com card which was my daily card first for a couple of years and have had over £1000 worth of vouchers through it!
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True, but I only ever use my credit card to get he benefits that come with it, like building points for vouchers etc. it's gettin something for free.
Just because you have a credit card doesn't mean it's more debt. You just spend exactly as normal and pay off the card every month and you are still debt free, but have some vouchers for free.
You do need to be good with money though - some people get a credit card and think its free money! That's when the debts rack up!
I have a Capital One Orbitz Visa that has given me several hundred dollars worth of rewards. I usually cash out for gift cards rather than use it for travel I'd like to close the account, but it's my oldest card and I don't want to lose that on my credit history.
Our primary card now is a Delta Skymiles AMEX. We've built up so many miles that we will be able to fly to see my wife's parents in London for free. Plus we get benefits like free bags on top of my medallion status.
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Exactly!
Our primary card now is a Delta Skymiles AMEX. We've built up so many miles that we will be able to fly to see my wife's parents in London for free. Plus we get benefits like free bags on top of my medallion status.
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Exactly!
see another reason I like CC is it is another separation between my money and places I buy from.
If my CC is stolen I an contest the purchases and while that is going threw I still have full access to my money in the bank account. If it is on a debt card the money is stuck in limbo and locked up. Also the money sits in my account longer so I make the interest off of it instead.
Now I pay off my balance in full every month so it is not like I pay any interest on CC. Plus I like the cash back feature of the CC.
Nothing is free, vouchers are merely a form of marketing and I would rather retain the peace of mind without my life choices being influenced by the "perks" of the card I choose.
I'm also forgetful as all hell and I know I'm the type to overextend so I prefer the simplicity of just having the money that I know I do.
Didn't have a credit card in the UK, but had to build my credit in the US, so got a Capital One newcomers card. A year on and I could get a Chase Freedom card, which has some good rewards.
Shhh - you're just making way too much sense in this thread!
People are silly. I got a credit card right at 18 with my Chase College account. Just threw things like books on it and paid it off immediately. Most of the time didn't even carry it in my wallet. That and a couple utility accounts paid in full/on-time led to a credit score of 752 after graduation - even with a decent amount of student loans.
It helped me land the promo 1.9% APR rate on my recent car. I'll pay it off in 12-18 months instead of 60, but it's a relief knowing if I do have to spread out the payments, I won't be racking up a ton of interest.
Ummm, yes the vouchers are free. I'm not paying any extra for them. I use the card for my normal weekly shop and normal purchases that I would have made anyway. I then pay off the card in full at the end of the month.
It hasn't cost me any extra whatsoever, and I have had no desire to spend any more then I normally would.
The added benefit is that the points accumulate and are transferred into vouchers that are automatically emailed to me.
Hence they are free. Nothing is being influenced by the card. My purchasing decisions are completely the same as if I would have paid cash.
I guess it depends on your own circumstances. Cards aren't for everyone. I, on the other hand, know exactly when I can play the banks at their own game. I'm lucky enough to be living comfortably and have everything I need and want, but if I ever need a loan I would never pay interest on it, I'd use 0% cards instead - they are a form of interest free loan!
Without going into my life story, I am 32 years of age with a 3 bedroom semi detached house with garage in a well-off area. At 32 years old I have almost completely paid off my mortgage. I have done this by using credit cards! Every time my mortgage offer comes up for renewal, so every 2-3 years, I open a few new credit cards that are all 0% interest for at least 14-16 months and put the maximum amount possible into my mortgage. I then pay off the cards before the 0% offer ends.
By doing this I am not paying the extortionate interest on my mortgage, and am using 'interest free' methods to pay off my mortgage.
If you are good with cards and can keep up with the offers etc, knowing when to pay off cards and close them, when the monthly minimum balances need to be paid, and so on, you really can benefit from them. You need to be well organised, and it can pay off ten fold. I've certainly saved huge sums of money from the interest of my mortgage, and live a comfortable lifestyle completely debt free (besides the small amount of my mortgage remaining). I will be mortgage free by the time I turn 35 if I carry on as I am. Although by then I also plan to move to a larger house and leave this one to rent out to tennents.
Credit cards can really pay off if you use them wisely and play the banks at their own game.
That's a really interesting way to go! Does that mean you're paying your mortgage and credit card at the same time?
depends how you use the cards.
I personally charge almost everything to my Amex which I pay off at the end of the month (no interest) and I route as many of my every day purchases, and bills to it that I can.
For example all my food and gas is on Amex, plus my internet bill ect.
From there I can use it to really get a sense of how much I am spending in one spot.
At 64, I have never had, nor never will have a credit Card,I use a debit card
Hooked to my checking exclusively!
Hooked to my checking exclusively!
I try to pay cash / use my debit card as much as possible. I have one CC that use for online purchases for the protection Rodimus mentioned, and so that I have a good credit history. The only other thing that gets charged to it is the cell phone, so I have something to pay each month.
Once I buy a house I will close it out for good.
Once I buy a house I will close it out for good.
Amex, Mastercard and recently a BOACC card for double point in Amazon purchases....All are paid off in full every month...Only use the Amex for PP really. The BOACC is a good card to get if you shop on Amazon a lot.
I think people that go without credit cards because they think debit cards are 'safer' are stupid. Over your lifetime you are literally cheating yourself out of thousands of dollars in potential savings from rewards, liability, etc.
Some debit cards (such as some Chase ones) have points and rewards as well, as long as you run them as credit not debit (thereby still allowing them to get credit card fees from the merchant without you even using an actual credit card)
Yeah. Using a debit card as a credit card to get the rewards is smart. I was more taking a principled stand against people with principled stands against credit cards