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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To think this is not abnormal?!

380 replies

Linnylinn1 · 24/10/2019 16:19

In work today one of the girls asked me something about a credit card and transferring a balance. I said “oh don’t ask me I have never had a credit card, I don’t know anything about them!” She was totally shocked that I don’t have one (as were the rest of the office!” AIBU to think it’s not THAT shocking!!??

OP posts:
fortunatelynot · 24/10/2019 18:09

Always surprised if somebody says this as used, properly, CCs have so many benefits. I would not dream of booking a holiday on my debit card as it does not provided insurance. A friend did this, the airline collapsed and she lost hundreds and hundreds of pounds. CCs provide insurance on anything like that. Similarly, if you only pay for part of something (say £100 deposit on a £3K car) on a credit card, the whole purchase is covered. They are the cheapest way of spending abroad and if you DO require any credit for say, the boiler breaking down, there are so many % deals that run for months and months. I actually have a couple of thousand outstanding on a credit card that is 0% for about another 24 months. I also have the funds to pay it off completely but instead of doing so, I have put the couple of thousand into a interest paying bank account and at the end of the 24 months period will be hundreds of pounds better off. They also can boost your credit rating; mine was boosted by having a couple of credit cards and I got an excellent low interest rate on my mortgage. Tip - it is however better to share any debt you do have on them. So, say you have £5K debt it is better to have £2.5K on one card and £2.5K on another. The credit rating agency prefer a card to have a larger amount 'free' in order to improve one's rating.
As long as people are savvy, they can be great.

SoyDora · 24/10/2019 18:11

You can buy clothing online with a credit card using a discount code, therefore getting the discount and the points. You can ask the retailer for their best price on a washing machine, pay with your credit card and get the discount and the points. Honestly, it’s a good way to shop (for everything) as long as you pay off in full at the end of each month.
Oh and the reward schemes generally aren’t a funded by the transaction fees charged to the retailer. They’re entirely separate.

PancakeAndKeith · 24/10/2019 18:14

I am all for spending what you have in your bank account by living within your means.

I always pay off my card as soon as I can after I use it, usually within a couple of days of the transaction.
I live within my means and am never in debit.
Credit cards are not a good way to borrow money but you can make money back if you are sensible.

LiveatCityHall · 24/10/2019 18:15

I don't have one and I dont want one. I'm 45 and have managed perfectly well without one! Besides I don't trust myself with one. If I can't afford something I don't buy it until I can.

Original poster
Linnylinn1 · 24/10/2019 18:19

@SayDora fair enough, But I can manage without so I’m ok.thank you.

OP posts:
BuildBuildings · 24/10/2019 18:22

I think a lot of pp's don't seem to understand having and using a credit card doesn't equal debt. I pay mine off monthly as does my partner. We recently got a mortgage and saw a financial advisor beforehand. We were advised to use credit to help our credit rating which was fine but obviously any thing to help is good.

Runhomejack · 24/10/2019 18:31

I have had a credit card for years because I am financially savvy and it upped my credit rating Smile .... But it has been sitting unused in my knicker drawer for a very long time (last purchase was £20, paid off in full by direct debit) because my mindset is 'debt is the devil!' and I can't get over it!

SilverySurfer · 24/10/2019 18:35

BuildBuildings A lot of people who use credit cards don't understand that a credit card equals debt for thousands in this country.

SmallPinkBear · 24/10/2019 18:36

When we met my dh had never had a credit card as he didn’t think he needed one. We now put everything on them and pay them off monthly as a way of collecting air miles. We have been all over the world thanks to our cards

AthollPlace · 24/10/2019 18:40

I’ve never had one. I was a student for a long time so never had enough income to be eligible for one. When I wanted one they wouldn’t let me because I had no credit history. I now have my own card on DH’s account, he gets sent the bill to pay. They still won’t give me one in my own right! It’s a useful thing to have though, if only because it makes online shopping safer.

Asta19 · 24/10/2019 18:40

My DS is 30. He lives abroad and just got one in that country as he needed it to pay stuff online. (His bank card there is some kind of weird account that doesn’t allow it to be used online). Anyway, I asked him some questions, like “what’s the limit?’ Etc and he didn’t know cards had a limit or even really how repayments worked etc! I was a bit surprised but then we’ve never used credit cards in our house so I suppose he just had no clue!

BertieBotts · 24/10/2019 18:43

DH has had trouble booking a rental car. He actually got stranded thanks to this once. You need to be careful which companies you use.

I've never had one, I don't think I've ever earned enough to be allowed one Blush I'm 31

broomzoom · 24/10/2019 18:44

Credit cards don't necessarily have anything to do with cash flow/affordability in the same way some people could buy a property out right but it's more advantageous to get a mortgage on it.

BertieBotts · 24/10/2019 18:46

Asta if it's Germany, tell him to be careful. They don't work the same here. A credit card is just a normal bank card except it goes through visa/mastercard rather than the EC system. You pay the balance IN FULL every month and there is no other option. Has caught some people I know out because they assumed it would work like credit cards do in basically every other country, like a flexible kind of loan.

Nquartz · 24/10/2019 18:56

@BrendasUmbrella

We have a royal bank of Scotland current account & credit card which give cash back on our monthly direct debits & supermarket ships (inc petrol)

GothMummy · 24/10/2019 19:01

I only got one recently for online purchases and booking hotels, and paying the valence off every month.

MrsWillGardner · 24/10/2019 19:01

I’ve never had one either 🤷🏼‍♀️

LakieLady · 24/10/2019 19:07

We both have credit cards but rarely use them. I use mine every few months, just so I still have a good credit rating, but DP hasn't used his in all the time I've known him.

We don't fly and rarely travel abroad nowadays, so don't need one for that. We get cash back with one of our bank accounts and I get travel insurance free with mine.

We took out a store credit card a few weeks ago, because it got us another 10% off some furniture we were buying (which was already half price). We paid it off in full and it saved us about £250.

I'm intrigued by the cards that offer rewards/points, but not sure if it'd be worth it as we don't shop at the same place twice running. We've been known to use 5 or 6 supermarket chains in a month, and I wouldnt want a card for each of them.

I understand now why so many people carry huge great purses - they need them to hold all that plastic!

VocalDuck · 24/10/2019 19:07

I am all for spending what you have in your bank account by living within your means.

So do I. A credit card isn’t debt to many people. I have one for the extra protection when buying things and another one that is a corporate card for any work related expenses. I live within my means and have a comfortable amount in savings. Unless you are irresponsible, I don’t really understand why you wouldn’t want the benefits of a credit card. 🤷🏻‍♀️

milveycrohn · 24/10/2019 19:10

Apart from holidays, it is worthwhile for anything you are paying in advance for, before receiving the goods; e.g. on-line shopping is one example, but I also use it when buying furniture. We were required to pay a large deposit, then pay the balance shortly before delivery. Another example, made to measure curtains. Again we had to pay a deposit, then pay the rest, when the curtains were ready.
These are the occasions when I use a credit card. This offers some protection, if the shop goes bust, before delivery.
Provided, of course, the value is greater than £100.

Vulpine · 24/10/2019 19:12

Fortunately not - that sounds like a good idea! what card/s do you recommend if you don't mind my asking?

Drum2018 · 24/10/2019 19:14

I have one in dhs name which we've had for years. I rarely use it, and have always paid it off so never pay interest. I wouldn't think it unusual not to have one, especially with debit cards now in use.

BearFoxBear · 24/10/2019 19:15

I think it's weird to not have one or pay it off in full each month!

I'm all for spending only what you can afford each month (although I haven't recently due to buying a house in need of renovation) but the debt is easily manageable - and 0% interest, so why wouldn't I?

Also, I need it for work. I've probably spent £150 travelling for work this week and put those purchases on another credit card that I have for that purpose.

SoyDora · 24/10/2019 19:16

DH’s work expenses are approx £2k per month so I definitely wouldn’t want to be paying that out of our current account.

ShadowOnTheSun · 24/10/2019 19:25

It's ok, OP, try telling them you don't have a credit card, facebook account and tv (like I did) :D. Then they'll look at you as if you're an alien or a total loon.

Nothing against cards, facebook or tvs, I don't feel somehow 'superior' (or inferior) that I don't use them. Just don't see any need. I'm 31.