Credit cards are very useful but not for obtaining credit. I have always paid mine off in full by direct debit but you are far from being alone and personal debt is at the root of all evil as well as being the basis for national financial instability.
Levelling Up
- Thread starter kfpben
- Start date
linga
Member
- Location
- Ceredigion
The young are all of those things. Always have been and the old were young once too and the young will be old before they know it
- Location
- Scottish Highlands
Sensible attitude of you can’t trust yourself. I wouldn’t be without one or two now, but only really for the buying security they bring (S75) and the backhanders I gain (probably worth £000s a year). And if I’m typically paying off £3k+ a month but not carrying a balance, that means I have £3k+ more to play with on investments.
Charlie Gill
Member
- Location
- Kent
Share the tips, how are you getting c.3% backhanders?
- Location
- Scottish Highlands
www.headforpoints.com as a start. I’m currently on an Amex holiday and earning Hilton points on a legacy card as I’ve too many Avios and 241 vouchers to use. Can happily make 10% of value on the first £10k spend.
I can trust myself now. I was stupid in the past when I was young. I can admit that. If you are trading on CC debt, you need to be careful with that.
- Location
- Scottish Highlands
I've never paid CC interest in about 30 years of using them and probably over half a million of turnover through them over the period. And I don't trade shares either, just hold a fairly aggressive but mostly static mix of unit trusts and funds.
That's a very conservatve attitude, and won't get you into trouble, but you also lose out on the benefits that come from buying on credit. When Thomas Cook went bust a couple of years ago, I bought £5k of new flights to make sure I still had a holiday and let Amex pick up the tab for the uplift (original £3k flights were booked with them and hence I had S75 protection from supplier failure).
It is, but I’ve never lost a nights sleep due to debt.
- Location
- Scottish Highlands
- Location
- Limousin/Charentes toad land
You mentioned your divorce elsewhere. Well, 6 months before mx ex ran off, she took out (for me) an NFU CC with a credit limit of 16K (and this was 2000) with an extra card for herself. She left mid August (easy to remember as it was my birthday) and by mid September she had used the whole limit.
Bless them, the CC co (MBNA) gave me it all back but of course, claimed back the funds from all the payees. Which meant for the next month she had a stream of folk at her door demanding payment.
Funny thing was I became friends with another farmer whose wife had left him 6 months before mine (the ex’s were friends). He had had exactly the same thing with even the same CC.
As I said earlier, credit cards are OK but no good for credit.You mentioned your divorce elsewhere. Well, 6 months before mx ex ran off, she took out (for me) an NFU CC with a credit limit of 16K (and this was 2000) with an extra card for herself. She left mid August (easy to remember as it was my birthday) and by mid September she had used the whole limit.
Bless them, the CC co (MBNA) gave me it all back but of course, claimed back the funds from all the payees. Which meant for the next month she had a stream of folk at her door demanding payment.
Funny thing was I became friends with another farmer whose wife had left him 6 months before mine (the ex’s were friends). He had had exactly the same thing with even the same CC.
- Location
- Limousin/Charentes toad land
As I said earlier, credit cards are OK but no good for credit.
Funnily enough, I still have the same card acct. , the limit is just over 20k now! I never use it at all unless I am buying something on line I don’t quite trust.
Some people would have taken the ultimate step and moved well away but I suppose France is similar.You mentioned your divorce elsewhere. Well, 6 months before mx ex ran off, she took out (for me) an NFU CC with a credit limit of 16K (and this was 2000) with an extra card for herself. She left mid August (easy to remember as it was my birthday) and by mid September she had used the whole limit.
Bless them, the CC co (MBNA) gave me it all back but of course, claimed back the funds from all the payees. Which meant for the next month she had a stream of folk at her door demanding payment.
Funny thing was I became friends with another farmer whose wife had left him 6 months before mine (the ex’s were friends). He had had exactly the same thing with even the same CC.
- Location
- Limousin/Charentes toad land
Some people would have taken the ultimate step and moved well away but I suppose France is similar.
Ha ha.
Youngest wasn’t two, someone had to look after the kids
We all have a cross to bear but how did you find one as bad as that? Not carelessness was it?
I'm somewhat sceptical of your claims , maybe you should start a thread to help us all
- Location
- Limousin/Charentes toad land
We all have a cross to bear but how did you find one as bad as that? Not carelessness was it?
No.
I probably made her that way
Still, practice makes perfect.
I was getting too personal and apologise. It is very sad but not my business and I am please that your present situation sounds better founded. Good luck for the future.We all have a cross to bear but how did you find one as bad as that? Not carelessness was it?
- Location
- Scottish Highlands
No, not got time to do that I’m afraid. And wouldn’t be a patch on what Rob does on that site.