Credit Cards

[Mark51]

good idea or not?

[leeroybrown]

If your sensible and pay it

[craig180]

Yes if you can manage your finances alright.

I have a few and they tend to get paid off in full each month. Improves your credit rating if you have cards and regularly use them.

[pike0]

I've never had one, im interested but dont know if i could trust myself :P

[Scattle]

Yup^^ if you dont be silly with it.

[chrichvtr]

wait for vidal mate....

credit cards can be good dependenat on how you use them if you pay them straight back then your fine and will get good credit ratings. But if you use it and feel you dont have to pay it back etc not a good idea just be wise with em mate and make sure you get a decent card!!!

just be careful

[TU-Tuning]

Theyre good for emergencys. Imo for everyday buying, stuff you want and so on then save for it or budget for it dont use a credit card for a way out. But if your car falls apart at MOT time and its gonna cost you a shed load to fix, then credit cards are a god send

[saxo_alex]

yes and no, I have one, it helps out if you run short on money or want to buy something outside of your budget as you can pay it back in installments, but then you have the APR rates which add more to the cost depending on the rate, and if you miss a payment it can mess up your credit rating.

[David]

Never had one... I can't see myself getting one for a good few years either. If you don't have the money, don't buy it... That's my thinking of it..

[craig180]

To be fair, even if you max your card and pay back jus the minimum amount you still get a good credit rating because you are basically sticking to an agreement. It's like a loan to a certain extent.

Only problem with that is for every £1000 on your card you end up paying back up to £3000 if only paying the minimum.

[Mark51]

if you get one thats 0% interest on balance transfers and purchases does that mean they dont charge you for anything aslong as you pay it back within a month?

[craig180]

if you get one thats 0% interest on balance transfers and purchases does that mean they dont charge you for anything aslong as you pay it back within a month?

For up to x number of months yes, although they can be cheeky and add an administration charge if you're transferring a balance that often is more than you would have paid in interest.

If you are getting a first credit card with average credit rating it's unlikely you'll get one at 0% though

[albinodub]

got to keep on top of the payments ho bud, i racked up about 7 grand years and years ago,washell paying it off

[Mark51]

For up to x number of months yes, although they can be cheeky and add an administration charge if you're transferring a balance that often is more than you would have paid in interest.

If you are getting a first credit card with average credit rating it's unlikely you'll get one at 0% though

theres a fair few knocking around mate offering 0% on purcgase and balance for 12month.

however if they do that and thats all your going to use it for how do they make their money? plus whats the XX% apr all about

[Hanuman]

we always get these threads, there is 2 simple questions

credit cards - are they good (answer is generally yes - as you get like interezst free periods bonuses ect ect)
are you good with a credit card (is the MAIN QUESTION) then you need to answer that yourself yes or no

[kenny]

if you can manage your money then there a good way to build up a good credit rating. if you cant handle your finances stay away imo

[craig180]

theres a fair few knocking around mate offering 0% on purcgase and balance for 12month.

however if they do that and thats all your going to use it for how do they make their money? plus whats the XX% apr all about

The Apr is the same as with any loan or credit agreement it's the annual proportion of interest you pay

[Wayne]

i think they are ok aslong as you don't get in debt.

[hellonpluto]

good idea or not?

if you want to be in a lifetime of debt....get one :y:

[craig180]

if you want to be in a lifetime of debt....get one :y:

I've got 3 and I'm not in debt - not that I can't manage on a monthly basis

[JimoVTR]

NO NO NO

iv maxed mine out, then you have to repay with interest (sometimes charges too)
if you cant afford something save for it.

Credit cards are a scam.
if you need something get a loan if your that desparate

[Jazz]

Good idea on paper, allowing you to pay with credit and give yourself flexibility to pay back later (ahem, IF you can pay it back later) but in practice it really just gives us money to spend which we don't really have, which means massive interest and taking it up the rear from the bank each time the mail man pops by. Sad but true. I still have one though, I mean something has got to pay for my full zorst system come january :P

[craig180]

NO NO NO

iv maxed mine out, then you have to repay with interest (sometimes charges too)
if you cant afford something save for it.

Credit cards are a scam.
if you need something get a loan if your that desparate

Haha Jimo maxed his credit card on a penis extension;)

Kidding mate - I never saw it, just getting in on the rumour:p

[KamRacing]

the simple question is:

Do you have the money to pay it off each month?

if the answer is no then you should not get one. There are cheaper ways to borrow money.

I have had a credit card from age 18 because I couldnt get a visa debit card (sounds stupid and it was lol) I use my credit cards as an easy means to pay bills for the month with the security from fraud - I pay the cards all off every month.

Theres too much of "I want this and I want it now!" culture - its like a nation of spoilt little brats demanding stuff from their parents, except theres a catch - the parents are fleecing you for every cent you have.

[ste2100]

never had 1 i dont think i could be trusted 1

[JimoVTR]

Haha Jimo maxed his credit card on a penis extension;)

Kidding mate - I never saw it, just getting in on the rumour:p

My bredit rating is bad.
so my limit is £200 - surgeons said it would cost more