To think always clearing a credit card is not typical?

[OneNattyCrab]

I tend to pay my credit card off in full each month so I never pay interest but it’s made me wonder how common that actually is. Given how many people carry credit card balances, it feels like always clearing it might not be the norm.

AIBU?

I think it’s not atypical to pay it off every month. That’s not to say everyone does it everyone doesn’t. But it’s quite typical for many many people to do so

I pay mine off daily. It's the only method payment I use. I get decent cash back

Dh and I ‘earned’ £800 in vouchers between us last year by using Amex cards with welcome offer and no annual fee.

Credit cards give you more financial security against scammers for online purchases and for large purchases eg holidays you have 6 weeks to pay it so you have time to move money from elsewhere in to your current account. I use my debit card for most in person card transactions.

I would not have travelled if it had meant getting in to debt and not being able to pay off my credit card. I grew up with parents who didn't go abroad on holiday until I was a teenager though so view holidays as luxuries you don't have or save up for, ditto expensive presents/ expensive clothes.

Plenty of people don't. That's how the providers make their money. But it's generally not an advisable way to borrow. APRs tend to be high.

I have a few - day to day one cleared every month regardless.

Interest free purchases and balance transfe ones - pay the minimum plus an extra bit so it doesn’t flag as only paying minimum. I have 75% of the balance for those in savings and the balance transfer doesn’t run out for 2.5 years so I’m earning interest in the meantime.

It’s not the norm though, but it is the smart thing to do. Spoken as someone who does not pay hers off and regrets it constantly!

0% interest and paying off a healthy chunk each month. Definitely wouldn't have a credit balance with interest accruing.

I only use them for large purchases such as our summer holidays. We put the holiday and any spending money on it and then we pay it off over the next however many months but always before the 0% interest is up. I only get zero interest cards.

Daft thread.
We all know everyone on MN pays their’s in full each month.
That’s not what OP asked. I don’t know why she asked in here. It’s easy enough to look online.

I pay for everything on a Sainsbury’s credit card so I get the points and clear it every month. Then my cash stays in a cash isa earning interest. I don’t really make massive purchases tho and like seeing my booze spending habits as the tracking is really good

Because at the time I'm purchasing I may not have the money, but I will have it when the credit card bill needs to be paid. I'm retired now, but when I was working, my expenses were claimed after the event, so fuel, meal and hotels all went on a card, the company would then have paid me before the card bill was due.

I would say very common.
I pay mine off every month and always have done. So does my OH and many others we know.
Credit card has much greater protection (I never use a debit card) and you normally get something (point with AMEX, Amazon vouchers with Barclays in my case), we use CC for absolutely everything but always have money to cover the bill the day it comes out.
We had a few very cheap long haul flights and saved thousands.
I don't buy stuff because I put it on the credit card, I but what I would anyway, I don't think about it as credit etc.

For the Avios points.
We put all our everyday spending on our AMEX card.
When we got married, we flew first class to Singapore for our honeymoon for £600. It took about a decade to build the points up to be able to do this, but if you’re spending the money anyway and you pay it off in full each month, it’s really worth it.

Not for most people.

Mumsnet is weird about credit cards but thankfully there's plenty of people on here who understand the benefits.

We've claimed three times for about £1k each time for faulty appliances and when Monarch went bust 2 days before we were due to fly with them.

Yes had one for at least 15years always paid in full never paid a penny in interest

I pay mine in full. I didn't get one until I knew I'd be able to do that.