To think most people don’t actually pay off their credit cards in full each month?

[PoliteCyanViewer]

I always hear advice about clearing your balance each month to avoid interest but how many people actually do it? With the cost of living, unexpected expenses, and temptations everywhere, is it realistic? Do you pay yours off in full or do you carry a balance?

Ive never owned one.

I usually do, but we've had alot of unexpected expenses this month so I put them on my cc and will pay off over 2 months.

I do and have done for 25 plus years, before that it was done over a few months. I only ever spend on it when I have the funds in a savings account so can get that fiddly but if extra interest before payment

No, never.

But mine is 0% interest and I have more than my credit amount in savings if needed.

The only time I haven't is when I've had a card with 0% interest, and I took it out specifically for a big purchase - which I could have paid in full, but it made more sense to do it this way and leave my savings intact. That's was about twenty years ago, maybe slightly more.

I do. I use mine like a debit card for the points, then pay it off by direct debit every month. I consequently have a bloody enormous credit limit, which I don’t need. I can see how people get into difficulty.

I was 20yo when I got my first credit card. Now I'm 69yo. Only twice in all those (575+) months has any credit card been overdrawn for any amount. I am debt free ... own absolutely everything inside the fences of my 98m x 23m property outright. It's okay to be frugal. I am a great example to my grandchildren. Retail banks have gouged way less from me than any of my friends and colleagues.

This is it exactly. I use mine for better protection, and pay it off every month.

Ours clear every month by direct debit. When I couldn't afford to clear it I didn't have one at all.

Pay for virtually everything with a CC. Paid off in full every month - we get a cash back reward for using it.

We have one we pay in full and an interest free one which we don’t but we have cash in the bank to pay it so that’s a choice as we earn interest on that.

We do and did so even when we were in dire financial shit when my partner got made redundant.

The interest on credit cards is ridiculously high.

I buy everything on credit cards for the various points and/ or reward schemes. I usually pay it off but there have been times when I’ve had to carry a nap and it’s easy for it to spiral.

You forgot you're asking Mumsnetters, where 100k salaries are the norm 😆

I tend to move mine around to 0% deals so it never attracts interest. Its not a huge amount but living on a fairly low income with minimal savings means it's almost impossible to clear it entirely before another emergency arises.

We do.
we have one for household shopping that we pay off every month, I pay my own personal one too.

I was in a financial difficulty a while back and we piled everything (no frivolities, no temptations, just the basics) on one credit card - and never paid it off at the end of the month. It spiralled out of control so badly that it took me (only breadwinner) 3 years to repay it. I could not bring myself to look at the interest line in the statements (paper statements in those days). It was awful. I know the percentages I had to pay and I was crushed. As soon as I repaid it all, I destroyed my two credit cards and never used them since. If I could not pay for things outright, we went without. All this time I was in an extremely well paid job (but dc educated privately), but the only breadwinner in the family. The only advice I can give is not to have a credit card.

I do. And I always know to the penny how much it will be. Disclaimer - I wasn't always so good

This is what we do. We make sure we have the money to pay them off, but only when the 0% period ends. It’s sitting there in a cash ISA attracting interest, so makes sense. We always avoid paying interest on the CC

The only time I really use my credit card is to buy a large purchase on interest free credit.

Yep always.
We use ours for everything as we get cashback and John Lewis vouchers respectively. The joint cc gets all household expenses on it so can be huge at birthdays, Christmas, holidays etc but it's money we would have spent anyway so it's sitting there to pay the bill each month

I do but I don’t rely on it for day-to-day living.

We usually do but have a 0% card right now so makes more sense to keep money in savings earning interest. Never use more than we have on a credit card. Our only debt is our mortgage.

I've had a credit card for around 40 years and have always paid it off in full each month. I have it for convenience, not for credit.

Everyone has a different reason why they are using a credit card, so different factors come into play whether or not they can pay it off in full each month.

I’m in fortunate position that I only use my credit card to collect cash back and for protection. I have the money in my debit card to pay for the item I want but use my credit card for the extra perks. If I didn’t have the money in my debit account or in some form of savings I would not be putting the item on the credit card. That’s just how I use it, and I’m pretty disciplined about it.

The interest on the credit card is eye watering and each to their own.

Put simply, if you can't pay off your credit card at the end of the month, you've overspent.

Not necessarily, it depends what you use it for. I have a credit card on which I put all my insurances, it’s cheaper than paying the insurance companies’ monthly sums (they are usually much higher interest) and it enables me to pay a set amount each month, effectively 1/12 of each premium (plus the interest). It costs me a couple of quid extra a month but it’s worth it to me for the convenience.

Equally, I made a large purchase and it was cheaper to take out a 0% for two years deal than it was to pay finance.

So while I would agree with you for day to day spending, if you crunch the numbers and compare options, credit cards can sometimes be the better option.