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Should i get another credit card?

(21 Posts)
Emmielu Wed 28-Nov-12 09:39:32

Purely for the money left over after bills?

I was calculating how much i could spend on people this xmas and what with there being 3 birthdays straight after xmas it dawned on me. Would it be worth getting another credit card and calculating all the months bills and taking out whats left over and putting it into the new credit card account?

Has anyone done this? Does it work?

CogitoErgoSometimes Wed 28-Nov-12 10:39:51

I don't understand? 'Money left over after bills'. Do you mean you want to use a credit card as a deposit/savings account?

RandallPinkFloyd Wed 28-Nov-12 10:44:30

None of that makes any sense op sorry.

Can you try and explain what you mean?

EIizaDay Wed 28-Nov-12 10:45:50

The answer is "no" whatever you are trying to ask. Credit cards in those complicated circumstances are not a good idea.

Emmielu Wed 28-Nov-12 16:22:37

Reading it back it doesnt make sense sorry girls!

Basically, once my bills have gone out, i'd like to put the money thats left over into another account but one thats with a credit card. So for example, if DD decides she wants something big for her birthday, i can use the card to get it. So its kind of like a "luxury only" card. Do you see what i mean?

Emmielu Wed 28-Nov-12 16:24:14

I do have a savings account already but the only way i can access it is by moving the money into the account i have now. I'd like to have 2 seperate accounts. A billing account and a "luxury" one.

noisytoys Wed 28-Nov-12 16:24:21

No!!!!!! From bitter experience I have learnt if you can't afford to pay cash, you shouldn't have whatever you're buying

EIizaDay Wed 28-Nov-12 16:37:01

Emmie; you just don't buy your DD "something big". It's not a big deal. It's how most people lived up until the world went stupid, about 20 years ago.

My best presents from my childhood cost very little.

RandallPinkFloyd Wed 28-Nov-12 17:41:45

Credit cards don't come with bank accounts OP that's not how they work.

They're a completely separate thing.

I'm still not sure what you're asking but no, I would never advise anyone to get a credit card just for something nice unless you can genuinely afford to pay it back and are just wanting it for convenience and the extra security.

RandallPinkFloyd Wed 28-Nov-12 17:46:05

Hang on, are you meaning a Debit card.

So another account but you can access it separately using a separate debit card.

If that's what you mean then yes, a very good idea.
Work out how much your bills are then separate the rest out and use it for spends.

That's exactly what I do. Saves me having to keep track of DD's and SO's as I know there is always enough in there to pay for them.

What's in my other account is what I use for day to day spends, much easier to budget I find.

TerrorNotSoFrightened Wed 28-Nov-12 17:58:07

I do this OP.
Go to, you can get a MasterCard that is a pay as you go type thing, you load cash onto it either in person at a pay point or via bank transfer.

We have three accounts/cards with them, one for groceries and petrol, one each for DH and me for individual spending money.

There is a monthly charge though, but doing things this way has kept me in much more control of our finances.

Fairylea Wed 28-Nov-12 18:00:10

Just open another current account. Siphon money into it. I have 3 Halifax accounts with cards. One household, one spending and one saving!

NatashaBee Wed 28-Nov-12 18:16:09

Message withdrawn at poster's request.

Emmielu Thu 29-Nov-12 06:24:16

Randall - THATS THE ONE!!!! I always seem to get confused between the two!

RandallPinkFloyd Thu 29-Nov-12 07:15:45

No worries grin

CogitoErgoSometimes Thu 29-Nov-12 14:11:44

Accounts with debit cards are great but they don't normally attract any interest. Savings accounts are not particularly lucrative but a percent or two on your balance is better than none. Is it a big problem to transfer the cash when you want to use your savings?

Emmielu Thu 29-Nov-12 17:33:35

It is a bit of a problem because the only bank account that i have is being used for bills and im worried that i'll use some of the money that's meant for bills on other things and not be able to pay the full amount. Its my first month in my first house with just me and DD. So not only am i new to this but im also very scared of not paying any bills especially my rent since its private rented.

RandallPinkFloyd Thu 29-Nov-12 18:22:47

It's a really good way to budget I find.
I do something very similar.

What I do is have all my tax credits, hb and cb paid into my "house" account, and my wages paid into my "spends" account.

I worked out exactly what my bills are and have set up a standing order to transfer the shortfall over every pay day.

It means I know all my bills are always paid and I know exactly what I have left for the rest of the month.

I've never done it any other way so the idea of having it all in one account with various dd's all going out on different days would stress me out!

Emmielu Sat 01-Dec-12 13:04:56

Randall - thats how im hoping to do things. I just have this big fear of spending what should have been money for my bills. But i also dont want to have to take cash out every month just to cover me. Its so much easier to do things seperately.

RandallPinkFloyd Sat 01-Dec-12 13:10:00


I honestly don't know how people manage with it all in one account.

I'd get myself in a right muddle!

Casmama Mon 03-Dec-12 19:21:57

Op I have three accounts- the main account gets my salary paid into it and all the bills come out, I then transfer a set amount into my spending account which is just for me (food etc comes out the bills account) and then a third account that I can put any extra cash to keep it out the way.

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