To ask how much you owe on credit cards ?

[anxiousmotherof1]

Getting to the end of maternity leave and i just realized i owe quite a bit on credit cards ! Dont think is that much but my husband is of the opposite opinion !
So how much you currently owe ?

Zero.
I don't have a credit card, only a debit card with no overdraft facility.

@overagain ah that’s interesting to know. Would it affect my credit rating negatively if I cancelled the card completely once it’s paid off? Or should I just keep it and not use it unless it’s an emergency and I can pay it back? Thanks

Nothing

Frosty66611 it's probably fine if you cancel it but personally I'd just throw the card away.

Zero

And glad about that. Never had any debt, hope I can keep it that way in future. (apart from mortgage) I would rather eat beans on toast for months on end than rack up debt. (I know sometimes even that wouldnt help prevent it though, so not judging)

Nothing - well about £1000 but it gets paid by DD every month (I put most spending on it - food, all online and large purchases) so I’m
Not in debt.

I'm surprised how many people don't use a credit card. I use one for almost everything and pay off each month. I usually get 200 or 300 pounds a year in cashback. If I did need to borrow money, I think that a zero interest card as you have is a good choice.

As for whether it is too high, it depends on what you will earn once maternity leave stops.

Isn't it weird that a CC gives you points and 0% interest and a good credit rating but and overdraft creates fees and gives a bed credit rating. Something tells me banks want you to be in dept - but only the dept they like

Isn't it weird that a CC gives you points and 0% interest and a good credit rating but and overdraft creates fees and gives a bed credit rating.

I think it depends on whether the overdraft is arranged. If it is they seem to like it as much as credit cards and I don't think it damages credit ratings. Only going overdrawn without permission would damage. Having a credit card can also damage ratings if you don't pay the minimum amount or go over the limit.

7k, soon to be 14k as having to replace all the plumbing in my house. All on 0%. Use it wisely and it's a very cheap way to borrow money.
Credit cards become a problem when they're not respected.

Jesus. Genuinely surprised at the eye watering amounts! I just won't buy what I can't afford. Only debt is mortgage here.

I just won't buy what I can't afford. Only debt is mortgage here
I can afford to buy a new settee and tickets for a gig with cash. Hiwver I like the insurance protection a cc gives me.

You don't have to be skint to use a cc. The trick is to be able to manage your finances in an efficient way.

Yes, credit cards provide insurance protection plus (if you choose the right one) other benefits such as cashbash. I don't see not having one as a sign of good money management. If anything it could be a sign of not being able to manage money, hence why people with no credit cards don't have a particularly good credit rating.

cashbash cash back!

I'm too scared to have one incase I go crazy and buy stuff I have no control and horrible at saving so I have zero overdraft and no cards that way I know I won't be able to go in debt. It gives me too much anxiety after having to pay off 2k of student overdraft after uni.

No credit card debt (we do have one, but it's paid off in full each month) but DH has an overdraft of around £1200. I wish he'd pay it off but he doesn't seem in any hurry unfortunately. I have no idea whether he's incurring charges because of it or not.

None here either. I can't do the whole "pay it off in bits". If I ever use the card, I can't handle it and just pay in one payment anyway.

zero

About a grand a month but pay that off each month too. I do all my online shopping via it as I like the protection.

Today, about £700.00, tomorrow (when we pay it) ... £0.00. Use it for convenience for all monthly purchases, food, petrol etc, but pay it off at the end of the month.

@headinhands good for you ! Here is a metal

Zero. I got the thing whilst at uni to build up a credit history, £500 credit limit and paid off in full every month by direct debit ever since. I only use it to either defer paying for something until my next month to smooth out finances or just put a few quid a month of groceries on it for the credit history.

Nothing. I can't be trusted with credit cards. I got into a lot of debt with them in the 90s. So I don't have them now.

About £450 on 0%. I could pay it off from savings but I’m earning interest on them so I’m just chipping away at it until the 0% ends.