credit card im confused

[chrisni1986]

ok my credit card has a £400 a month limit, however im a bit confused as to how this works, am i allowed to spend 400 a month with it or if i dont pay the full amount off does the amount i havent paid get deducted from the next months 400??

[KamRacing]

yes to both questions.

£400 is your credit limit not the amount you can spend each month.

So if one month you have £300 credit rolled over from last month you only can spend another £100 on the card

[AdamW]

You get 400quid limit........spend up to 400quid and then pay it off.....Dont think it rolls over like you have 400quid one month and spend 150quid. And it goes back up to 400quid beggining of next month. Wont work like that.

Basically have 400quid.....


edit- reading mine is confusing, but its in the same context as Kams

[Tupps]

Spend £400.....and £400 only, because thats the limit

[Hanuman]

how many months interest free do u have ? if any, a £400 limit credit card thats the lowest iv ever heard of they normally get you to take 1k dont the

[AdamW]

Mine is 2k.......12 months 0%...after that I will cut it up

[mattchewone]

Mine is 2k.......12 months 0%...after that I will cut it up

So basically you have 12 months to pay back what ever you have spent on it without paying interest?

[Hanuman]

i got mine 6 month interest free, got me car insurance 900k, paid it off got it sat around, safe, never to be used for anything big as i got no more interest free so its only as a last resort, use them wisely and your laughing

[Clouds_mate]

i got mine 6 month interest free, got me car insurance 900k, paid it off got it sat around, safe, never to be used for anything big as i got no more interest free so its only as a last resort, use them wisely and your laughing

Totally agree.

If you can manage your money and have enough money to actaully own a i Visa/Master card. They are awesome things.

[AdamW]

So basically you have 12 months to pay back what ever you have spent on it without paying interest?

Nail on the head

[Scattle]

I got £500 limit, that's all I know.

[Tupps]

I dont have a credit card....never want one tbh

[AdamW]

Leckie encourages me to buy a PS3 on my credit card

[Clouds_mate]

You earn enough money to pay it off with your next wage.

If you can beat the temptation of not paying it and will actually pay it off with next months wages why not :d

[Scattle]

MMM ps3, credit card might just have to be activated for that.

[Payney]

Credit Cards arn't the way forward, they can get you in serious debt, i have one with an auto limit of a grand, i only use it if i need to... Which i've used it once for my insurance deposit.

[DarylVTR]

i only got a £400 limit on mine aswell which is crap but good at same time! £400 limit means £400 overall not each month !! :)

Pain in arse credit cards are! - They are too tempting

[gartrell]

Mine is 2k.......12 months 0%...after that I will cut it up

never cut a card up if you dont want to use it, cancel it!

if you need credit in the future, it'l show you owe 2k if thats you limit!

[saxodan]

only use my visa on purchases online and over 60-70 notes

that way your sorted for fraud protection etc etc

or when Im skint lol

[VTR_Nick]

Credit Cards = Bad, owe mine £1300 :ouch:

[Wayne]

you can only spend £400 as thats your limit in one month.