mad_manx Posted October 29, 2022 Share Posted October 29, 2022 1 minute ago, Wavey Davey said: The easiest way of seeing if someone you know is living beyond their means or not is generally to see if they own an AMEX card or not. I don't see the issue as long as you pay it off in full every month . But you are correct in that many people are not financially disciplined and overspend . Credit card debt is a killer. Credit cards are like alcohol. Many of us are fine with an occasional drink and control ourselves . But we also know many who don't know when to stop..Credit cards are not for everyone. Some people just cannot handle the credit limits they are given . 3 Quote Link to comment Share on other sites More sharing options...
HeliX Posted October 29, 2022 Share Posted October 29, 2022 10 minutes ago, mad_manx said: I don't see the issue as long as you pay it off in full every month . But you are correct in that many people are not financially disciplined and overspend . Credit card debt is a killer. Credit cards are like alcohol. Many of us are fine with an occasional drink and control ourselves . But we also know many who don't know when to stop..Credit cards are not for everyone. Some people just cannot handle the credit limits they are given . They also only exist because enough people do use them poorly, which makes them a revenue earner for the banks! 2 Quote Link to comment Share on other sites More sharing options...
Two-lane Posted October 29, 2022 Share Posted October 29, 2022 24 minutes ago, mad_manx said: I had posted about it . You only pay that rate if you don't pay the amount you owe the card company in full every month.. I pay off in full every month anyway as I have direct debits set up with all.my cards.i haven't had to pay anything in interest for any my cards ever. I pay off every month also. It was the 60% that made my eyes wobble. That can get someone in trouble pretty quick. It probably makes loan-sharks look like saints. Quote Link to comment Share on other sites More sharing options...
mad_manx Posted October 29, 2022 Share Posted October 29, 2022 3 minutes ago, HeliX said: They also only exist because enough people do use them poorly, which makes them a revenue earner for the banks! Banks are not set up for charity and are in business to make money When base rates were low they were only paying savers a tiny amount like 0.1% or so and getting over 2% for mortgages . So that's over 2% profit Now with current base rates and mortgage rates over 6% they are giving just over 1% to savers ..so that's nearly 5% profit . I don't see why the government doesn't do anything about this.. 5 Quote Link to comment Share on other sites More sharing options...
Happier diner Posted October 29, 2022 Share Posted October 29, 2022 22 minutes ago, Wavey Davey said: The easiest way of seeing if someone you know is living beyond their means or not is generally to see if they own an AMEX card or not. You'd have to explain that I'm afraid. If I was guessing I'd say well orf folks think they look good with Amex Quote Link to comment Share on other sites More sharing options...
mad_manx Posted October 29, 2022 Share Posted October 29, 2022 6 minutes ago, Two-lane said: I pay off every month also. It was the 60% that made my eyes wobble. That can get someone in trouble pretty quick. It probably makes loan-sharks look like saints. It's more likely to be at the lower end of the scale as long as you have a decent credit score.. Agree that its still high.. Many people are not sensible when it comes to handling money / savings. Q friend of mine had £50k in credit card debts but then got a larger amount as an inheritance. She was planning to deposit all those funds in savings in bank . I had to spend some time convincing her that she was better off clearing her card debt.. 1 Quote Link to comment Share on other sites More sharing options...
ellanvannin2010 Posted October 29, 2022 Share Posted October 29, 2022 (edited) 6 hours ago, Two-lane said: Earlier, someone mentioned HSBC Premier World elite Mastercard : "Purchase rate18.9% p.a. (variable) Representative59.3% APR (variable)" If the card is being paid off by the business, I guess the cardholder does not care too much. Representative rate will likely be higher due to the annual fee for that card which forms part of the calculation I think. Edited October 29, 2022 by ellanvannin2010 Quote Link to comment Share on other sites More sharing options...
Manx Bean Posted October 31, 2022 Share Posted October 31, 2022 Wonder if Alfie told them you can’t a credit card.. Quote Link to comment Share on other sites More sharing options...
cissolt Posted October 31, 2022 Share Posted October 31, 2022 American express is awful, I traveled around Costa Rica and even the shops with amex signs didn't accept it. Quote Link to comment Share on other sites More sharing options...
Apple Posted October 31, 2022 Share Posted October 31, 2022 17 minutes ago, cissolt said: American express is awful, I traveled around Costa Rica and even the shops with amex signs didn't accept it. On 10/29/2022 at 7:42 PM, Happier diner said: If I was guessing I'd say well orf folks think they look good with Amex Still take Amex in Marks and Spencers here so that's ok.😀 Quote Link to comment Share on other sites More sharing options...
Asthehills Posted October 31, 2022 Share Posted October 31, 2022 What’s the alleged issue with hiring a car without a credit card? I always use my debit card and have never had an issue over hundreds of car hires through Europcar, Avis and Hertz Quote Link to comment Share on other sites More sharing options...
snowman Posted October 31, 2022 Share Posted October 31, 2022 29 minutes ago, Asthehills said: What’s the alleged issue with hiring a car without a credit card? I always use my debit card and have never had an issue over hundreds of car hires through Europcar, Avis and Hertz It's not an alleged issue. Hertz placed £1,100 hold on my Amex for CDW excess recently. No chance of doing that on my debit card. Quote Link to comment Share on other sites More sharing options...
Asthehills Posted October 31, 2022 Share Posted October 31, 2022 10 minutes ago, snowman said: It's not an alleged issue. Hertz placed £1,100 hold on my Amex for CDW excess recently. No chance of doing that on my debit card. Ah ok. So it’s not a restriction on using debit cards at all, and it’s perfectly OK to use a debit card as long as the account has enough money in it (or an overdraft facility)? 1 Quote Link to comment Share on other sites More sharing options...
Numbnuts Posted October 31, 2022 Share Posted October 31, 2022 (edited) 2 hours ago, Asthehills said: What’s the alleged issue with hiring a car without a credit card? I always use my debit card and have never had an issue over hundreds of car hires through Europcar, Avis and Hertz As mentioned above no issue with hiring a car with debit but big issue with deposit you have to leave with them to do so. If not particularly flush with funds it can be a problem and also it can take quite awhile to get deposit back. Edited October 31, 2022 by Numbnuts Quote Link to comment Share on other sites More sharing options...
Annoymouse Posted October 31, 2022 Share Posted October 31, 2022 59 minutes ago, Asthehills said: Ah ok. So it’s not a restriction on using debit cards at all, and it’s perfectly OK to use a debit card as long as the account has enough money in it (or an overdraft facility)? I was always told you have more consumer protection when using a credit card, I tend to use my credit card for any large purchases, whereas my debit card I try not to use at all, other than for withdrawing cash. 3 1 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.