Numbnuts Posted October 28, 2022 Share Posted October 28, 2022 Its 27 years since I got rid of my credit card and have relied on cash and debit cards since. It is getting a problem though without one for the reasons mentioned above. Hiring a car is problematic but not insurmountable and Hotels often require one.If I travelled much more I think it would be a problem to stay ahead of the restrictions. 3 Quote Link to comment Share on other sites More sharing options...
mad_manx Posted October 28, 2022 Share Posted October 28, 2022 (edited) 1 hour ago, Nellie said: It's not 'garbage'. It is exactly what it says on the tin; a basic credit card product. I agree, there are no freebies or benefits. I regard it as a bit of insurance if my other cards ever get withdrawn. Agree with you ...The HSBC premier cards ( for those who qualify has its uses ) The basic HSBC premier credit card has additional warranty cover ( beyond the manufacturer warranty) on white goods you buy with the card which is quite good since there is no annual fee . The Premier World elite Mastercard ( £195 annual fee ) gives unlimited free loungekey access for the holder and additional cards are £60 each per year for upto 3 people). And they get access as well This is probably the cheapest way to get unlimited loungekey access as far as I know. Loungekey has access to almost the same list of lounges as priority pass and an annual unlimited membership to priority pass costs twice this ..£419 from 1st December..:-( For a family of 4 an Amex platinum ( even at a £575 annual fee ) is ( or I should use the tern was 😞 )a better option. With Amex platinum the first supplementary card is free..And both the primary and supplementary card holder get a priority pass select card which can guest another person for free So 4 people can access the lounge 🙂 Edited October 28, 2022 by mad_manx 1 Quote Link to comment Share on other sites More sharing options...
manxfisherman Posted October 28, 2022 Share Posted October 28, 2022 Is there a particular reason credit cards companies are unwilling to operate here? I take it they're happy for their cards to be used here, just not by residents? Isn't that just a bit odd? 1 Quote Link to comment Share on other sites More sharing options...
mad_manx Posted October 28, 2022 Share Posted October 28, 2022 (edited) 7 minutes ago, manxfisherman said: Is there a particular reason credit cards companies are unwilling to operate here? I take it they're happy for their cards to be used here, just not by residents? Isn't that just a bit odd? Since IOM is not part of the UK , our market is not really worth the hassle for them. They are not bothered about the country of use .. The legal issues are more to do with the residence of the card holder. For example I've used cards in around 50 odd countries so far. The card company is not bothered about where I use it.Thats Visa / Mastercards problem. Edited October 28, 2022 by mad_manx Quote Link to comment Share on other sites More sharing options...
manxfisherman Posted October 28, 2022 Share Posted October 28, 2022 2 minutes ago, mad_manx said: Since IOM is not part of the UK , our market is not really worth the hassle for them . But why is it a hassle? Quote Link to comment Share on other sites More sharing options...
A fool and his money..... Posted October 28, 2022 Share Posted October 28, 2022 I guess it must be difficult for them to chase debts here too. There's a fella I work with moved here from across with his Barclaycard with about £2K owing. They stopped his card when he told them the change of address, so he hasn't bothered making any payments since, that must be getting on for five years and all he's had were a couple of letters which have since stopped. I don't condone his actions btw. 1 Quote Link to comment Share on other sites More sharing options...
Numbnuts Posted October 28, 2022 Share Posted October 28, 2022 (edited) Yes , I believe its all about ability to claim back debt due to jurisdiction and legal issues around that . Debt recovery basically. Edited October 28, 2022 by Numbnuts Quote Link to comment Share on other sites More sharing options...
Mikimoto Posted October 28, 2022 Share Posted October 28, 2022 The general impression in a nutshell is "too small a market to be bothered with separate laws", etc. Also, Amex in particular don't allow people to benefit from their (significant, in the case of the plat.) UK benefits if they don't reside there. HSBC have specific cards that can be applied for by IOM/CI residents. Quote Link to comment Share on other sites More sharing options...
mad_manx Posted October 28, 2022 Share Posted October 28, 2022 15 minutes ago, Mikimoto said: The general impression in a nutshell is "too small a market to be bothered with separate laws", etc. Also, Amex in particular don't allow people to benefit from their (significant, in the case of the plat.) UK benefits if they don't reside there. HSBC have specific cards that can be applied for by IOM/CI residents. They still do the shop small offer here in the IOM. Which is why I am a bit skeptical about the current news unless they issue a public statement (like what tesco did) . Quote Link to comment Share on other sites More sharing options...
Happier diner Posted October 28, 2022 Share Posted October 28, 2022 1 hour ago, Numbnuts said: Its 27 years since I got rid of my credit card and have relied on cash and debit cards since. It is getting a problem though without one for the reasons mentioned above. Hiring a car is problematic but not insurmountable and Hotels often require one.If I travelled much more I think it would be a problem to stay ahead of the restrictions. As Boris Johnson would say, you have a firm grip on the wrong end of the stick. This isn't about whether credit cards are a good thing or not, it's why are they shutting the IOM out all of a sudden. 1 1 Quote Link to comment Share on other sites More sharing options...
Numbnuts Posted October 28, 2022 Share Posted October 28, 2022 (edited) 43 minutes ago, A fool and his money..... said: I guess it must be difficult for them to chase debts here too. There's a fella I work with moved here from across with his Barclaycard with about £2K owing. They stopped his card when he told them the change of address, so he hasn't bothered making any payments since, that must be getting on for five years and all he's had were a couple of letters which have since stopped. I don't condone his actions btw. This I think is correct. When I stopped mine I had a debt to them and over time I paid it back but had friends who didnt bother as they had heard they couldnt collect through the courts and in the end the card companies just stopped sending letters . Edited October 28, 2022 by Numbnuts 1 Quote Link to comment Share on other sites More sharing options...
Bombay Bad Boy Posted October 28, 2022 Share Posted October 28, 2022 3 hours ago, Boris Johnson said: The AMEX card comes with many benefits. Don't knock what you cant afford. 🙂 You get discount at some big stores at major cities and you get first "stab" at the local hussy, instead of sloppy seconds at the eastern european hotel. 2 Quote Link to comment Share on other sites More sharing options...
Numbnuts Posted October 28, 2022 Share Posted October 28, 2022 2 minutes ago, Happier diner said: As Boris Johnson would say, you have a firm grip on the wrong end of the stick. This isn't about whether credit cards are a good thing or not, it's why are they shutting the IOM out all of a sudden. Answered a few posts above . And its all relative really as its bad debts and lack of being able to collect that have caused the issues . Quote Link to comment Share on other sites More sharing options...
snowman Posted October 28, 2022 Share Posted October 28, 2022 So the legislators need to legislate. They've been sitting in their hands since March. They claim the island is nimble and a great place to do business. Well how about being nimble now ? We already know 1200 people have got the Tesco card. There will be more people affected by closures. Quote Link to comment Share on other sites More sharing options...
Numbnuts Posted October 28, 2022 Share Posted October 28, 2022 7 minutes ago, snowman said: So the legislators need to legislate. They've been sitting in their hands since March. They claim the island is nimble and a great place to do business. Well how about being nimble now ? We already know 1200 people have got the Tesco card. There will be more people affected by closures. Its been a problem for a lot longer than that. People have been having issues getting a card for at least two years. Recently , yes its been a issue with stopping existing ones Quote Link to comment Share on other sites More sharing options...
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