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 have one that I use to pay for everything so I can collect the bonus points on it, I clear that one each month. I have another that has a 0% balance transfer on that I’m paying off slowly. I wouldn’t ever not pay the full balance and then end up paying interest on a card though, I’d either clear it in full or balance transfer to a 0% card.

I generally pay off in full except for my car insurance which I put on there. That I pay off using the instalment plan feature. That tends to take 3 months to clear completely.

Just to balance all the ‘pay in full’ posts. I have two credit cards and owe about £12,000 between them. I pay the minimum every month, plus any extra money I earn goes towards extra payments. I’ve been in debt for years, it no longer bothers me.

What's the point of this thread other than to make you feel smug?

Me too. I spent years just paying the minimum amount - never again!

It’s normal in my family to do so!
DM and DF always did so and I understood why and did same
I suggested to my DC to start off with a credit card with small limit and just put manageable things on it like petrol/diesel and clear every month to get a good credit rating which they did
If I want to delay payment I use PayPal credit or similar but always clear within the interest free period
I refuse to pay interest on anything

I detest paying interest. My cards are cleared every month.

I’ve had a credit card since I was 18 (53 now) and have always paid it off in full every month. My kids got one when they were 18 (now 20 and 23) and they pay them off in full every month too. I advised them to get one to help their credit score

https://www.moneysupermarket.com/credit-cards/credit-card-statistics/

You may well get skewed responses here as you asked in quite a leading way.

Here is some data.

I pay mine in full each month but have in the past also used an interest free card paid off periodically during the interest free period and a couple of times I’ve paid something off over 2 months rather than 1.

If everyone paid it in full each month banks wouldn’t offer them anymore because it wouldn’t be worth it.

Me too. All my family and friends do too.

I'm 68 - I've cleared mine monthly for the last 30 years. I carried debt on my cards for 10 yrs when younger and it was miserable and cost me a fortune. I have occasionally had a 0% interest card and used it as a loan but only where I worked out that I could pay it back within a defined timescale. Sometimes I've had to move it to keep it at 0%; that incurs a fee but still less than paying a loan. Learning to live within my means has been a hard won but useful life skill.

I don't clear my card every month because it doesn't always work out, I mainly use mine for larger purchases and internet shopping so say I order some clothes a few days before the end of the month by the time they've arrived I've tried them on decided what to keep and got to the post office with a return it can be a week later or more. Then you have to wait for the company to receive the return and process the refund. I will make a payment to the bakers of the items I am keeping as soon as I've made that decision. I don't worry about it, I only have an interest free one though.

Yes always cleared some day wages go in. When we got paid weekly we didn't need to use it now it's monthly it just works out easier to do it that way now

I use a credit card because I get 0.25% cash back on everything and 1% back on a supermarket shop, plus a range of discounts from household stores like Waterstones. Over a year it can amount to a couple of hundred pounds for absolutely no effort. I always pay in full or there’d be no benefit to using it.

When I was younger I never used to or could. But in hindsight I was supporting bludgers too.

Now I’m older and running expenses through one for frequent flyer points, I do.

My Uncle and Aunt do too. They are in a position to put car purchases on their Amex for the same reason.

If the dealer won’t take Amex they say they will go elsewhere and the car dealer honours the sale and by the end of the month they have transferred funds to pay the amount out.

I get round that by waiting until the day after I’ve received my statement to make purchases of anything I might want to return, that way there’s about seven weeks before they’re billed.

I have 2 credit cards. One is for holiday costs and spending and is paid in full every month. The other I got for partly paying for my car. It’s interest free and I make the minimum payment each month. I had the money which is in a savings account earning interest.

we don’t use ours so there’s nothing to clear. Soo… no idea how to vote on this!

But I would clear if I / we were to use ours. It’s the same as paying any other kind of bill, I suppose..

Mine is cleared monthly. I used it for 3 reasons

1. interest bearing current account so the longer the cash stays in my account the better
2. cashback on fuel and supermarket shops
3. additional consumer protection. But there's a direct debit set up to clear each month.

I clear it weekly. I use credit to boost my credit score and prevent being scam as card provider offers better buyer protection.

No I don't clear mine, I always make sure I keep it on a 0% card but I only use the credit card for things that I can't afford to pay all in one go - a holiday etc.I couldn't clear it every month.

Same here. I pay mine off automatically with the direct debit that the bank wants you to set up. You get extra consumer protection if you buy a holiday on a credit card. I use my credit card for day to day spending and do the same on holiday. Some of the credit card processing is very slow giving extra borrowing power. A couple of times a long, long time ago payments I have made have never arrived in my account.

Always cleared automatically by bank transfer. Not paying high interest charges on credit cards is basic financial management. Arranging a loan is usually cheaper than credit cards interest rates

I clear mine. Very important to me to not live beyond my means.

I clear the full amount requested each month but because of how it works the balance is never zero as I have spent more since the bill arrived. Fortunately with mobile banking can keep an eye when there are busy months.