chrisp65 Posted July 1, 2021 Share Posted July 1, 2021 I have a company credit card! Freekin’ awesome. Just have to not use it in stupid shops I couldn’t justify later, y’know like Lovehoney or Legoland. Link to comment Share on other sites More sharing options...
Rds1983 Posted July 1, 2021 VT Supporter Share Posted July 1, 2021 50 minutes ago, Sid4ever said: Linking back to the conversation about financial planning, and seeing some of comments above, when did credit cards used under control become the norm, my parents were dead set against them, if you can’t afford it then you shouldn’t have it. Did they live a life on tick and had problems or is it just easier now to control your finances with the internet et al I think it's partly easier to manage things these days but people also see credit cards in a different way. As others have said they make shopping online easier and that's probably 95% of what I do (not including groceries). I could use a debit card or cash but it's no different for me as I know I don't go crazy and the direct debit clears it in full each month. Some people do go nuts with them though, one of my wife's friends paid for a brand new bathroom costing about £10k solely on credit cards. Link to comment Share on other sites More sharing options...
KenjiOgiwara Posted July 2, 2021 Share Posted July 2, 2021 (edited) In regards to credit cards. In Norway there's been a rule to mortgages because house prices are nuts. The rules include that you can't borrow more than 5 x your yearly household earnings before taxes. Funnily enough credit cards credit limit are included in this. So I had 4 credit cards laying at home and that knocked off £40 k of a future mortgage. Gives a good reason to not keep more cards around than you need to. Like someone said one VISA and one MC is enough. Edited July 2, 2021 by KenjiOgiwara Link to comment Share on other sites More sharing options...
il_serpente Posted July 2, 2021 VT Supporter Share Posted July 2, 2021 I used to prefer cash for smaller purchases and even medium-sized ones if the merchant was a small business in order to avoid incurring the credit card fees for them. I gradually got over it because of the rewards points to be had. Just booked airline tickets and hotel in New York for the wife and me using only reward points (we spend more than we should). COVID put me off cash completely. I think I went a year without making a withdrawal. Link to comment Share on other sites More sharing options...
Rugeley Villa Posted July 2, 2021 Share Posted July 2, 2021 I think anyone who struggles financially sometimes should forget about having a credit card. A few years back I’d have got myself in debt with them, and I think I knew that at the time. I’m much better with money now and in a better position, so it’s just nice to have it on standby. I’ll probably buy some records on my card tonight, which has been the plan all week, but haven’t got round to it. Link to comment Share on other sites More sharing options...
villa4europe Posted July 2, 2021 Share Posted July 2, 2021 I've had 3 previously First one my girlfriend paid off and I had to pay her back 2nd one I took out a loan to pay off over 3 years 3rd one I barely touched and cancelled it because they were getting daft with it, I wanted a £2k credit card, wasn't using it, after a year they were sending me letters every couple of months increasing my limit, it got to about £9k at the end Mine was for petrol money when I was a poor trainee and living hand to mouth, **** up when I got my expenses paid though as I wasn't paying it off, also never use it to take out money... I'd say now I'm in the fortunate position where I dont need one, I get the online shopping thing but don't consider even that worth it I've had 3 x loans of £2-5k over the years too Got rid of my car last year so I'm now 0 debt for the first time in 20 years 2 Link to comment Share on other sites More sharing options...
Rds1983 Posted July 2, 2021 VT Supporter Share Posted July 2, 2021 16 minutes ago, villa4europe said: I've had 3 previously First one my girlfriend paid off and I had to pay her back 2nd one I took out a loan to pay off over 3 years 3rd one I barely touched and cancelled it because they were getting daft with it, I wanted a £2k credit card, wasn't using it, after a year they were sending me letters every couple of months increasing my limit, it got to about £9k at the end Mine was for petrol money when I was a poor trainee and living hand to mouth, **** up when I got my expenses paid though as I wasn't paying it off, also never use it to take out money... I'd say now I'm in the fortunate position where I dont need one, I get the online shopping thing but don't consider even that worth it I've had 3 x loans of £2-5k over the years too Got rid of my car last year so I'm now 0 debt for the first time in 20 years It's a great feeling when you get debt free isn't it. 1 Link to comment Share on other sites More sharing options...
villa4europe Posted July 2, 2021 Share Posted July 2, 2021 Yeah i can take all that money that i was paying towards banks, credit cards and loans etc and put it all in the bank and save it... My wife took an extra 6 months maternity leave with no pay, fortunately that ends in August, im saving for a house and hopefully a return to England, maybe the one silver lining of corona I'm saving more than I've ever saved before cos I couldn't do anything... Just so I can go and take out the biggest loan I'll ever have... Link to comment Share on other sites More sharing options...
Seat68 Posted July 2, 2021 Share Posted July 2, 2021 As a young man a credit card was the reason I was close to having an IVA. I was dreadful and I was terrible at paying it off. So it was maxxed and I was paying the minimum per month. Stupid thing to do. Then around 15 years ago I went to my bank and said I am in a fairly good job but floundering. I have no money and I have a few debts. They consolidated them, I paid off my credit card and had a single loan which has now gone. So I am loan free. I have a credit card that all large purchases are paid for with, but is immediately paid off. As a side note I found out my daughter has a CC a few weeks back and my first task is to get her to pay that off. 1 Link to comment Share on other sites More sharing options...
villa4europe Posted July 2, 2021 Share Posted July 2, 2021 My mom didn't have a credit card Catelogues were her vice, not a clue how much she bought on the never never from them but when I was a boy it was probably every birthday and Xmas present me and my brother had Don't see them much any more Link to comment Share on other sites More sharing options...
Tegis Posted July 2, 2021 VT Supporter Share Posted July 2, 2021 I didn't trust myself with a CC for a long time but purchases on the net changed that. Huge safety-barrier. Whenever I do a purchase on it I immediately move that sum over to the account I use for bills so I always know how much money I really have left all the time and I can pay it of pronto. Peace of mind and all that. A big upside is the Amex card I use. The points I gather form everyday purchases and petrol pays for a family (of 4) holiday every 3 years. (Minus the card costs at £85 per year) Link to comment Share on other sites More sharing options...
lapal_fan Posted July 2, 2021 Share Posted July 2, 2021 Never had a CC, just seems like extra admin to me. My wife has had one and I have bought things on there, but always paid it off asap. I've got a company car, but between us we've got a loan for our family car, which is good for if work ever goes wrong for some reason. So really just a mortgage and shared car loan for me. Never seen the fun in buying something on a CC and paying it off for years. Just wait and save for a few months and then you own it. 2 Link to comment Share on other sites More sharing options...
Rds1983 Posted July 2, 2021 VT Supporter Share Posted July 2, 2021 20 minutes ago, Tegis said: I didn't trust myself with a CC for a long time but purchases on the net changed that. Huge safety-barrier. Whenever I do a purchase on it I immediately move that sum over to the account I use for bills so I always know how much money I really have left all the time and I can pay it of pronto. Peace of mind and all that. A big upside is the Amex card I use. The points I gather form everyday purchases and petrol pays for a family (of 4) holiday every 3 years. (Minus the card costs at £85 per year) Which Amex are you using? I'm currently on the Platinum one (I think) and getting about 1% cashback I think. Link to comment Share on other sites More sharing options...
Rds1983 Posted July 2, 2021 VT Supporter Share Posted July 2, 2021 I'm now an enthusiast... How exciting. 2 Link to comment Share on other sites More sharing options...
Tegis Posted July 2, 2021 VT Supporter Share Posted July 2, 2021 7 minutes ago, Rds1983 said: Which Amex are you using? I'm currently on the Platinum one (I think) and getting about 1% cashback I think. It's a Amex-SAS Eurobonus card, so probably a Nordic country thing. So the points can only go towards travel but the ratio was a lot better than cashback or in a Amex-webshop 1 Link to comment Share on other sites More sharing options...
Genie Posted July 2, 2021 Share Posted July 2, 2021 I have a credit card from same place as my current account. The interest rate is probably horrendous but I pay it off whenever I use it so it’s not a factor. It’s convenient because I can see the balance along side my current account, and I won’t forget I have a balance to pay off. Link to comment Share on other sites More sharing options...
Rds1983 Posted July 2, 2021 VT Supporter Share Posted July 2, 2021 1 minute ago, Tegis said: It's a Amex-SAS Eurobonus card, so probably a Nordic country thing. So the points can only go towards travel but the ratio was a lot better than cashback or in a Amex-webshop Thanks. I need to look into my Amex again as the cashback rate has plummeted after the first 12 months. Need to find a new savings account with decent rates too but not many of them about right now. Link to comment Share on other sites More sharing options...
villa4europe Posted July 2, 2021 Share Posted July 2, 2021 My old company had an Amex card that they used to pay off their travis perkins account, talking over a million a year Sent the boss to Barbados with whatever he collected back from it Link to comment Share on other sites More sharing options...
Genie Posted July 2, 2021 Share Posted July 2, 2021 There was always tension at a place I used to work. The sales guys would be flying all over the place for meetings, USA, Japan, China every week (usually first or business class). Hence they’d rack up shit loads of air miles which they’d cash in for very lavish holidays. A lot of people didn’t think that was fair that they could do that. I can see both sides tbh because they are away from home for long periods, but then booking 10 grand holidays for free is a hell of a perk, especially when they are living their lives on expenses. 1 Link to comment Share on other sites More sharing options...
chrisp65 Posted July 2, 2021 Share Posted July 2, 2021 22 minutes ago, Genie said: There was always tension at a place I used to work. The sales guys would be flying all over the place for meetings, USA, Japan, China every week (usually first or business class). Hence they’d rack up shit loads of air miles which they’d cash in for very lavish holidays. A lot of people didn’t think that was fair that they could do that. I can see both sides tbh because they are away from home for long periods, but then booking 10 grand holidays for free is a hell of a perk, especially when they are living their lives on expenses. On a much reduced scale, I spend a fair bit of time away from home so I’ve got an exemption that I book my own hotels rather than have the office book them. It means that if there is an obviously better or more interesting hotel for a little more money, then I can book that, rather than it always being ‘Travelodge’. What this also means, is I get the reward points and the upgrades. So yes, once in a while, I get a weekend away with a couple of free drinks by racking up points through work. We’ve had people here grumbling about it. But then I’ve offered them the opportunity of popping up to Carlisle for 8:30am on a Monday or needing to be in Dover on a Friday afternoon and suddenly they’re less bothered about the ‘perks’. 3 Link to comment Share on other sites More sharing options...
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