retired_kevh16

erm for me a credit card really is. Basically get an interest free loan using it until the end of the month when I get a £3k long term interest free loan to pay for my start up costs.

Although I must admit I was quite surprised to walk into the bank and request my first ever credit card of my life (having practically no credit history to speak off) and get given a credit limit of nearly £3k. Won't use that much of it for some time I think.

retired_jhr2211

Cause the banks are all nice like that and have no ulterior motive or have no idea how the average person will handle this "credit".

Having worked in the industry for 14 years, I can quite honestly say they are not looking out for your best interests.

retired_kevh16

When did I say it was in my best interests to be given a £3k credit limit? I know exactly how these things work.

Was more surprised going from my house mates experience. She had a student credit card (limit = £200) which she never used. Now she has a high earning job and applyed to get it extended and they told her that because she effectively didn't have a credit rating they couldn't increase her limit until she started buying stuff on it and paying it off. And I walked in for my first credit card and got given a limit well beyond my expectations. I mean its almost two months salary for me.

retired_sk_cure

I also hope i will never own a credit card in my life.

I just hate owing money, even if its a couple of quid never mind a few grand.

Obv mortgage excluded.

retired_kimmymarlo

eh?

if properly maintained, having a credit card is quite convenient. of course, nowadays check cards perform the same functions.

I've got a weird hybrid check/credit card that has served me quite well. I think it's Visa branded only to ensure that it would be accepted at multitudes of locations, but I'm not sure.

retired_krishinf

credit cards are fab.

I've collected so many airmiles using mine and not a single penny in debt.

I use it to pay for my offshore investment scheme. So basically all that happens is Investment fund gets credited by card, card is paid off by my bank account. I get free air miles for using the credit card