Extra boring thread for Monday: credit cards


#1

Look, none of us want to be here today anyway, so let’s grind through some particularly dull #content while we’re all bored anyway, yeah?

Credit cards: what’s your deal?

I’ve got one from the same bank as my current account because, dunno, seemed easier. But I get dick all in rewards from it. Can I do better? You tell me!

Credit cards.


#2

I’ve got one from an orange supermarket. Bought it to get me through a period of troublesome cash flow. Have obviously used it for all manner of stupid shit. No interest for the first 31 months, and I think i probably get some of this aforementioned store’s nectar points.


#3

I’ve had one from my main bank account for years that I tend to use for big emergency purchases.

I also have a Barclaycard that offers interest free balance transfers which I use if I’ve had too many emergency purchases in a short space of time.

I don’t get any benefits from mine, but I don’t feel like I’m anything more than an OK customer to Mastercard and Barclaycard.


#4

Been tempted to become an Amex Wanker for a while now. Get the BA one and rack up loads of points.

However American Express is not a credit card so I’m in the wrong thread for this nonsense. Apologies.


#5

Halifax Clarity.

Free overseas cash withdrawls.


#6

Are you in a position to explain the difference?

I know that charge cards and credit cards are different but I don’t really understand how.


#7

I have a Barclaycard that was supposed to build my credit up or some shit but it’s been nearly full for a long time now and the interest payments have just gone up. Might fake my own death or change my name or something and just sack it off.


#8

Everyone in the UK should own a credit card because of section 75 of the 1974 Consumer Credit Act.

How’s that for a boring post?


#9

I probably have all the credit cards due to decades of balance transfer


#10

Wait what, I’ve got one of those BA American Express cards, why is it not a credit card?


#11

Credit cards - you can roll your balance over to the next month and pay interest on it.

Charge cards - you have to pay your balance off in full by the end of the next month or you get charged for it.

That’s the distinction although American Express might operate a bit more like a credit card now with their charge structures etc. Not sure.


#12

Actually the BA ones ARE credit cards. I didn’t realise. The classic American Express is a charge card.


#13

My fucking downfall. Had one from Halifax with 18 months interest free. Missed a payment and starting accruing interest. All got a bit scary but managed to speak to them and sort it. Then the interest free payment came to an end and I’ve transferred the balance to a Barclaycard which is interest free for a year, and have a direct debit set up so no missed payments (I hope).

Has about £2,000 on it. I never use it, except I did this weekend for a hotel / restaurant. Would like to just pay it off, and we have the savings to do it, but Mrs HYG would rather pay into savings and just do a minimum on the card while it’s interest free. I literally know nothing about personal finance so I do what she says.


#14

got one from the big Spanish bank. use it for hire car deposits. :man_shrugging:


#15

Given how paltry interest rates are just now in savings, it’s nuts not to pay down debt with free cash. Get her telt!


#16

Credit cards are fab. FREE MONEY. I have a 25k limit on my Barclay card one somehow which seems dangerous. Absolutely no idea why, since I only ever use it for big purchases that I want consumer credit protection for, and then pay it off.


#17

I’ve got four, but two I haven’t used in at least 8 years. Probably should cancel them.
One is my main bank credit card, which I pay off in full each month.
The other is an 30 month interest free one, which I purchased a kitchen with. I haven’t used it for anything else, and have just split the balance into equal payments.


#18

i don’t have one
just seems like a faff


#19

Yeah, I think she’s just resistant to reaching into savings because they’re savings, you know. She must know that at some point, beyond rainy day stuff, savings are being saved up to be used for something, but idk.


#20

Had them for years, pay off the full balance every month and make the most of the rewards. Used to be 2-300 GBP per year back in the UK and ended up getting about 7 free flights with them during our time in Au. Would regularly do those three-month sign ups with bonuses and then cancel the cards afterwards.

All different in NL though, you pay for the privilege of a credit card here and there are little to no rewards. Fundamentally I think this is a more sensible and fair system, but it is a shame I won’t be getting those tasty rewards anymore.