Positive credit card stories?

[Bimgy85]

What do you use your CC for? When did you first get one?

Applying for my first one, I have a regular income, planning to use it for large purchases/when I'm stuck, holidays etc

What's it been handy for for you?

I think Piper’s right. Credit cards aren’t that difficult but you clearly don’t understand them.

MissConductUS Yes that is what I meant, I was having a brain fart. I once used a credit card with a long interest free period to buy foreign currency and when I saw my statement I nearly had a heart attack.

Another John Lewis cardholder here. Use wherever there is no fee for credit cards and pay it off at end of the month. So I profit 100s each year in John Lewis/Waitrose vouchers. I have another one I use overseas with no charges for foreign use.

Trick is to pay statement balance off in full as interest negates any offers (unless you have an introductory rate).

"What do you use your CC for?"
To build a credit rating for when I finally get a mortgage, I use mine to pay for petrol and food, and pay it off in full every month. I also use it for holidays and other large purchases because it's easier to get your money back if a holiday company goes bust etc, but again I pay it off in full at the end of the month.

"When did you first get one?"
About 4 years ago, but I was too scared to use it (as I didn't understand how they work) til about two years ago, when I saw a mortgage advisor who told me to use it regularly and pay it off in full to build a credit history.

I know a fair few people who have got into thousands of credit card debt, and have ended up been paying a lot more interest (and so getting into more debt) than they could of because they didn't understand how they work.

I'd recommend reading about credit cards on the Martin Lewis website, especially this one:

www.moneysavingexpert.com/credit-cards/minimum-repayments-credit-card/

I use to work in sales so would have to buy random marketing giveaways, petrol I could claim and dinners out with clients.

Would whack it on the credit card then pay it off every month but gained a really good credit score in 4 years and a shit load of air miles.

@PervyMuskrat still hit and miss.
"Welcomed all over the world" my arse.
Mastercard can be used everywhere.

I use mine for everything then pay off on full every month. It's a John Lewis one and every so often I get free John Lewis gift vouchers from the points that build up!

Watching

I think @PiperPublickOccurrences is right. You seemed to think the credit card would give you a free £100 if you spent £300?!?! Steer clear. Without a basic understanding of how all credit cards operate you can land yourself in big trouble very quickly

Everyone should have a credit card (as long as you can be responsible obviously). We only ever have interest free and will use for holidays etc.

Big items we will always purchase on a credit card. A few years back our wedding venue went into administration and as we paid the deposit on our credit card we got it all back as we were protected.

"Bimgy85

Of course one wouldn't have enough of a handle on how they work if I've never owned one"

To be fair, I don't think that's necessarily true. I've deliberately had no credit for over 11 years after having financial difficulties. No overdrafts, credit cards, loans, anything. For us, £0 in the bank is our "red line" and there is no margin for error. For 11 years it has served us well.

But, this year we were going abroad and we decided that we should get a credit card to protect ourselves on the big purchases and also because foreign purchases with debit cards are expensive and I didn't fancy walking around with lots of Euros. So, I researched: I went to Money Saving Expert and read about the different types of credit card, and decided I wanted a 0% purchases card for the UK and a 0% exchange rate fees card for foreign purchases card for abroad. I joined their Credit Club to check my credit rating, then ran a soft search to see which cards I was most likely to qualify for. In the end I got the UK card and I got DH to get the foreign card, and we added each other as additional card holders. Then I read the terms carefully, and made sure that I understood what would cost me money, when I need to pay the bills, and what will cost me interest.

When we returned to the UK, we paid off all of one card, and ⅓ of the other card, which was all of the amount in the statements. Next month we will either pay half or all of the remainder on the other card, and we will return to our life without credit

@4yearsnosleep have you been reading properly? Who on earth thought of you spent 300 you'd get a free 100? 😂 not me anyway. Possibly you're getting confused with someone saying you could go through a loophole with the dates the statement comes out and leave 100 till next month..

I have a BA Amex which I use for everything. Gets me enough air miles to buy two first class tickets for the price of two economy.

Sorry op but I agree with piper. No one expects you to know "all the ins and outs" but you clearly have zero knowledge of credit cards and mn is not the appropriate place to gain that knowledge. Like other posters have suggested, head over to money saving expert, or better yet, don't get a credit card as I genuinely think you're too clueless. I don't know if you're very young or just naive

Please be aware, if you do head to mse and feel the need to post on the forum for advice (which I would recommend as they are VERY knowledgeable) all your "hun" bullshit will not be tolerated. It is a place for sensible, mature questions from sensible, mature people and they don't take kindly to new posters getting defensive and twatty

Clear score is free and gives good easy to follow advice

I have had a cashback one for 15 years. Gives me free money each month for using it. I have a direct debit paying it off in full each month. Marvellous!

For a 0% spending/purchase card, that would be ideal for me, to buy something worth £900 and split the cost over a few months. Then this wouldn't go into arrears as long as I make the minimum payments each month?

I use it for large purchases so we get the extra purchase protection or to spread cost over a couple of months. We don't usually have a large balance month to month although recently it built up due to some emergency expenses in the summer. I'm paying it off now, I hate debt. But at least it's under my control.

@jdmummy18 you do not need to be sorry at all, thanks so much for your advice! The only reason I was getting defensive is because there is always that one person on mumsnet. Instead of giving extra information they just shut you down.

Either way I'll manage. Like everybody does as long as you don't get into crazy arrears all will be fine.

Yes, Bigmy if you get a card that has an introductory offer such as "0% on purchases for 16 months" "valid on purchases made within the first 60 days of account opening." then spent £900, as long as you paid the minimum payment each and every month, on time, and had paid the full £900 back before the end of the 16 months, the amount you would pay on that purchase is £900 and the amount of interest is £0 and the amount paid in extra charges would be £0.

You asked for positive stories? Well, here's ours;I live here in the UK, my family in the USA. We all use our cards for every possible purchase, we all pay off our cards in full every month, and we all collect air miles on our purchases, which pays for our flights between our two countries every year or so.
Win-win situation for us.

That means that you could choose to pay £56.25 each month, pay just the minimum some months and pay £80 or so for 10 months, or pay 2 lots of £450 and clear the lot... Your choice.

Credit cards terrify me! Never had one, neither have my parents.

Its interesting to see how they can be useful, but it sounds like you need to be pretty organised about it. I don't think I'd want another bill a month to pay.

Also, I have a mortgage and never had a credit card or loan (apart from student). I don't think you need to get one for credit rating?

We are quite lucky as we don't have many bills as it is thank goodness so I don't mind looking into one.

To those who have a John Lewis card, roughly how much money do you get back in vouchers relative to what you spend on the card? I’m considering getting one as my current credit card offers very little in the way of perks.