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 ?

Agree with a pp. not other people's problem if you can't handle a cc, wise not to get one then.
For the people that can manage it well it's the best thing I've ever got!

I buy stuff I normally wouldn't buy with my regular wage but then I can pay it back week by week. I also have a cc that gives me cash back rewards, something very small but still good.

you may not have said I don't think it's stupid to not have a CC but you did say that not having one was a sign of not being able to manage money that well

I'll rephrase... If you think that everyone who has a credit card is in debt and lives beyond their means it could be a sign that you don't know much about money management.

If you get cashback from all this extremely fiddly fannying about then well done. It’s not for everyone. Doesn’t make you superior

There isn't any "fiddly fannying around". It takes a five minutes to open a credit card and using one is as simple as using a debit card.

If you get cashback from all this extremely fiddly fannying about then well done

What fannying about? Pay by credit card and the money for what you spent last month gets taken from your current account like every other direct debit. Cashback gets paid into the credit card account once a year.

In a way simpler than just spending from your current account because it all comes out on one day with advance warning of the amount instead of dripping out of the account as you spend and you have to know how much you leave in for direct debits and how much is available to spend.

I am reluctantly getting involved in this argument but oh well.

Having a credit card isn't simply a passive event. After opening it you need to obviously pay any purchases as well as keeping an eye on it for fraud etc. It is 'another' account to manage. Some people won't think getting a few quid back is worth it.

Now I get the equivalent of thousands back through by spending far too much airmiles. Managing another account is a drop in the ocean for me compared to the advantages I get.

PookieDo you've already said you use quidco for cashback - credit card is easier than that (and I use both). If you don't want to use a credit card for whatever reason, then that is your prerogative, but cashback credit cards are easier than cashback website and similar returns, so that shouldn't be your only reason.

Can bats or anyone else tell me which credit card it is that they're using that gives them air miles?

Thanks.

Having a credit card isn't simply a passive event. After opening it you need to obviously pay any purchases as well as keeping an eye on it for fraud etc. It is 'another' account to manage. Some people won't think getting a few quid back is worth it.

It isn't something to manage that takes time. I have a direct debit set up so don't really need to do anything to pay it off. When I get the bill, it doesn't take long to check it through and unless you normally pay in cash you would be doing this anyway to check debit card payments. No extra time is involved so even if I only got £50 it would be worth it. It may not be worth it for those with a very high income but surely those people would be spending a lot and getting much more cashback.

I think if you enjoy actively enjoy managing your money but aren't ready of shares or investments or don't have enough for that then cashback/ credit cards/ shopping around can be fun!

HereForTheLineEyes I have the Virgin Atlantic credit card. There are two, one is free and one has a yearly charge. You earn more miles with the yearly charge.

If you think you would fly more with airlines like BA you would need to find their associated credit cards. I think it's Avois points with them so that might be more beneficial for you.

Worth remembering that cards that do airmiles of course work best for high spenders.

There is extra time involved. It isn’t 1 minute then forget about it is it?

Opening account/researching best deal
Another bill to pay every month
Swapping cards when terms end and researching again
Staying within rules/terms to get the rewards (ie shopping in the place you get rewards eg M&S)
Absolutely ensuring your income can cover the repayments

If I need car insurance I will go via quidco which is clicking on a link. It is not the same as being responsible for all the maintenance involved with a financial account. I may not get paid the same amount every month. I may have irregular outgoings. Maybe M&S locally is rubbish. It is not silly and irresponsible for people to forgo the hassle and responsibly of using a credit card for rewards when they don’t need a credit card anyway. If people are happy to live within their means and not go down this road it is not a sign of irresponsibility. Some people just don’t value squeezing every last penny out of every deal as much as you do.

Someone compared it to surveys. I have a FT job and 2 kids and I tried this once it was a nightmare. It’s so time consuming and really hard work to get any decent rewards, especially when there were time limits. Just accept it’s ok to not want to do it

*There is extra time involved. It isn’t 1 minute then forget about it is it?

No there isn't extra time involved once the account is opened. Opening the account takes me about five minutes. Even if it takes 10 minutes it is still worth the few hundred pounds I save. You would have to be a high earner for it not to be worth while!

Another bill to pay every month

It's paid by direct debit every month. You can set it to clear the balance so no time.

Swapping cards when terms end and researching again

I don't think the cashback has ever ended on any of the cards I have used. The research usually just involved looking on moneysaving expert or similar so takes a couple of minute AT MOST.

Staying within rules/terms to get the rewards (ie shopping in the place you get rewards eg M&S)

You don't usually have to stick within certain rule to get rewards. You get them just by using your card. Whilst you may get more rewards by shopping in the M&S, John Lewis etc but they still give you rewards if you shop elsewhere.

Absolutely ensuring your income can cover the repayments

That applies to spending full stop doesn't it?! At least with a credit car you get the bill in one go with the date the money is going to come out. If it is more than is my current account that month I transfer from my savings. If anything it makes it easier.

Someone compared it to surveys. I have a FT job and 2 kids and I tried this once it was a nightmare. It’s so time consuming and really hard work to get any decent rewards, especially when there were time limits. Just accept it’s ok to not want to do it

It is nothing like doing surveys! I tried that once too and had to do loads to make about 8 pounds so really not worth the time. A credit care takes about 10 minutes and saves me a few hundred a year.

Argue with me all you like. I’m right from my own POV and you are right from yours. Because it is individual personal choice

Argue with me all you like. I’m right from my own POV and you are right from yours. Because it is individual personal choice.

You don't even have a credit card so how would you be "right from your POV" about how much extra time that is involved.

People are arguing for credit cards, and cashback etc, in response to those saying that the only reason to have a credit card is to get into debt and spend money you don't have rather than save up for things.

They are simply explaining that there are other reasons to have them and the majority of people who use credit cards are not in debt and are not spending money they don't have.

@Dungeondragon15

Well you didn’t read my posts did you? Because I do. But I do not obsess over the details of squeezing every penny of these deals. I have it for emergencies and it’s rarely ever used then paid off if it does. Perhaps I may get £7.50 in benefit from it a year. Whooo. I have other ways and means to obtain cashback deals if I wish to. Your superior attitude is very dull

I totally respect anyone’s financial decisions to not have a cc debt. I would like to have zero eventually.

I’m the 22k in debt person!
Hello fellow in debt people!

I do know you have to be so careful. It’s not loads of work, but if you get it wrong it cascades into a nightmare. Recently a DD didn’t go through and I had to beg on the phone to stop the 0% deal being cancelled. Aaarghh!

I wouldn’t be advising spending on frivolous stuff like the OP though, keep an eye on small purchases!

Yet, for me these kinds of riskier debts have made a big difference to my life. I’ve...
Paid for vital treatment for disabled DC.
Kept up repairs on my house which I did not have the money to do. Having lost my job to care for said child, and being a recently separated skint person with stingy Ex, I’ve been able to ease both kids transition by still being able to keep up sports clubs, clothes etc.

And I initially got my house with a 100% mortgage. I would not have in a million years been able to get a mortgage otherwise. Very small deposit, good job but in public service and only my own wage.

So I would have nothing and relying on the state if not for those riskier debts and credit.

DD = direct debit

£1,900. But will be paid off before the 0% interest period is up as we have a direct debit set up. We used it as a one off and won't be using it again.

I could pay if off with savings but as its 0% I don't see the point.

£31.99. My latest festive online purchase at the weekend there. I prefer for my CC (£6k ish limit) to pay for my paypal account, and keep my motgage bills account ringfenced. Separate account again for day to day spending. Don't like having CC debt, prefer to save up. Like knowing i can access funds quickly in the direst of need if my savings fall short.

£567 and in my 3rd week of work after being out of work for over a year by Christmas it will be clear.
I totally hate being in debt and will clear it as soon as I can

But I do not obsess over the details of squeezing every penny of these deals. I have it for emergencies and it’s rarely ever used then paid off if it does. Perhaps I may get £7.50 in benefit from it a year. Whooo. I have other ways and means to obtain cashback deals if I wish to. Your superior attitude is very dull

You don't need to obsess. You just need to use the card. So you very rarely use it and therefore only get £7.50 back rather than using it more often and make more without any extra time or effort but you choose not to?

£2.5k left on joint credit card, interest free, which paid for a new kitchen.
Personal debt is about 4.5k on interest free.
Also have a £2000 overdraft.
We’re remortgaging in April so going to see if we can borrow more to pay it off.