4 thoughts on “Why using credit cards is a really bad idea”

  1. I do most of my spending on cards, but pay them in full by direct debit each month. I have more than one because I have one for online, and two others so I know when I’m out and about if somewhere doesn’t take one, they’ll take the other.

    My conscience regarding the banks is salved somewhat by a few things:

    1. They are all charity cards (1 HIV, 1 cancer, 1 breast cancer)
    2. I pay by cash or debit card when dealing with small businesses to minimise their overhead (some now charge extra for credit cards… Amex is more expensive, so work picks up a £3 additional charge in many places)
    3. My banking facilities have been chosen for ethical reasons, and I can use the post office for cash, thus supporting my local community

  2. Dh and I have one credit card each. They are used to purchase online plus anything over £100 is paid for by credit card to benefit from Section 75. Both cards are paid off in full each month and we must be two of the disciplined few – no money, nothing is put on the cards, ever. In fact, I am so twitchy that I will often repay early rather than wait for the statement to appear.

    Thanks for the comments about ethical banking Victoria, this is certainly an area for me to explore.

  3. @Victoria: Good points; particularly the ethical banking one. Shall explore further.
    @Anne: John did mention the insurance that credit cards carry; with discipline and responsibility it is OK I suppose.

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