StewDogg

I don't understand why people use credit cards if they havge the ability to pay it off in full when the bill comes in!

If I can't pay for something outright I'll put it on credit.

retired_princesspouty

Only for that product for that company Rocky, it doesn't mean you're blacklisted overall. Another company will use different criteria based on their statistical data, and you might pass (not Bank of Scotland as they are essentially Halifax).

retired_ehoff15

I did it because I can earn a little more interest by putting the cash in a saving account

retired_bemesel

They make money off people who are sub prime.
ie.e those people who will be able to pay it but are likely to have continual debt.

A person who will pay off their card in time and move on before the interest rate kicks in will not net the company a penny and cost them in admin.

retired_princesspouty

Insurance is one very good reason. Security and legal protection is another.

Also, if you're really anal you can gain a little interest on your money in the 50 days you have before you need to pay off. If you're canny you can also use credit cards as better loans than a bank loan... as my girlfriend is doing (she has a permanent 3% loan on a credit card).

All in the Money Diet. :cool:

StewDogg

I did it because I can earn a little more interest by putting the cash in a saving account </BLOCKQUOTE>

You must have a hell of a lot of money for the "little more interest" to be of any real value.

retired_princesspouty

\o/ Good man.

Ventil

As soon as I bought my place my Credit Rating rocketed.
Being back in rented accommodation after a year of not working properly has seemingly done no damage at all. :thup:

retired_bec8643

Because with a credit card you can earn air miles/vouchers/loyalty points or plenty of other reward scheme's & be earning interest on the money in your account for the month before it comes out & not pay any interest on the credit card.

Know guy i worked with paid for everything on credit card, paid it off at the end of each month & ends up with about £200 worth of Marks & Sparks vouchers (which pay for his xmas presents) every year and doesn't pay a penny in interest.

BarryLFC

Buying on credit offers an extra level of protection - if the goods are faulty, inadequate, not delivered, etc. you can claim against the credit card company as well as/instead of the seller.