Iv'e done it guys. I have extracted 2 creditcards from my purse and put them away where I cant spend on everyday essentials.
| Related: | Personal Finance•Money•Credit Cards |
I have decided that the reward element makes me use a certain cc too often. it's a hiding to nowhere.I'd be better buying with real money and stopping short before I go into overdraft on current account.If doing without reward means less debt then that's got to be a no brainer.My other card has the last remnants of a transfer offer on it and I ampaying that off with a standing order and dont like to spend on it much unless for an online transaction as it is fine for the transfer arrangement.
Responses (11)
I really do believe the reward cc's cards seduce us into using too often on an increasing array of spends,instead of purchasing with real money from current account as we used to do. This is the year I try go back to not using creditcards except on exceptions,like booking accommodation online etc.
That's a great start Instinct. I am a total non-believer in credit cards and have none at all. Maybe after a while you will see how easy it is to conduct your life without them, then you can take great pleasure in chopping them up with the kitchen scissors and be rid of them. Life would be less complicated, cheaper and more simple without them I assure you, though others will disagree I am sure in this 'plastic money' society that has been created. You can use a debit card instead for the 'exceptions' you mention and then the money would come out of your account and no monthly bills. Visa debit still gives you safeguards etc. Well done on making a start on changing your financial habits :)
I'm like you wendie, credit card free. Admit sometimes its a pain, but if I don't have the money I don't buy it, and we have to wait. Only time I really miss it is when something big goes wrong!
I was like that without cc until actually my children were in secondary and a while after that. However with plugging gaps for students essentials, costs of living, rents, x3 over several years, plus all the escalating costs of living that we all know about in all our lives I did decide on one, and used it to move money around and it did help, and I always paid it off every month for a long time, so I made it work for me.However costs on everything recently have made it not so easy to pay in full, so I am on a mission and have given it a lot of thought. An achievement for me would be to get back to only using occasionally, and being able to clear in full IF I used it.
I've still got the student bit to come instinct (X4!) but never having had a credit card I've never got in the habit of using one, so I'm planning on continuing without! Keep going, you CAN do it!
yes thats the problem oracle i am faced with the same thing, if a big bill comes along, ( a new washing machine ) i might put it on credit card and then take 6 months to pay it off !!
The credit card works abroad better than cash ,plus you are insured by the credit card for some expensive items you buy .
The game is you pay it up every month.Then your the winner
yes thats a very good idea. sometimes I havent got enough to live on and it makes me put food on credit card but it is a bad idea. Another good way is to always pay more off the balance than you put on it, so eventually the debt has gone!
Shows some good strong willpower there Instinct, as spending habits often like other habits are quite often hard to break so well done you.
Thanks I apreciate the encouragement.
You can do it instinct. Just imagine how much more money you'll have if you resist using a credit card.
all credit cards are designed to get you into debt and when the interest goes on (after a zero balance transfer) beware, they are all out to rip you off as much as possible. I have 1 locked in my cupboard, and one other was cut up a few months ago, very rewarding !!
yes Suzie5, I have set up exact payments for exact number of weeks and wont use that cc beyond the time, I'll cut it up!
Thats very good master, this is what i do, and it does work in the end, you can get rid of your debt evenutually!
I only use my credit card in emergency and for paying the large bill for the new shower room and the Builders. I forget I have it in my purse and wouldn't use it for just anything. I always pay it off each month so not incurring any interest charges. If anyone would like to pay mine off this next month all contributions gratefully received. !!!!!
Sorry, can't help with that sabre :)
I would if i win the lotto. ha ha! Trouble is with credit cards i think sometimes the poorest people are forced to put some food on it because they havent got enough in the bank, and this is where things go wrong for them because they still got to pay it off, and if they cant, the interest can be very high !
You're so right, susie5. It's easy to get sucked in to running up a credit card bill and having to take months to pay it off.
I think whichever way you look at all things financial, nothing is for free and there will always be someone in every chain getting their cut out of it. I get so enthused with online special offers, especially for software, that I physically have to restrain myself and keep my sweeties firmly locked away .... and as for credit cards, they are so deeply hidden in my wallet that they rarely come to the surface, except for a spring clean. It is so easy to whip them out and enjoy myself ... and the penalty always comes in the next statement. Being pecunary doesn't come naturally but it is always the best way forward. My only luxury is I never buy cheap loo roll ... always go for the luxury status stuff to pamper my NR's !
Good decision, instinct.
Good luck!
Leave your credit cards at home and take cash and vouchers ,points cards .Great idea ,,,but I do love my Tesco credit card ...
I love mine too, rosetta, all those lovely points! But it's only any good if you always pay it off in full.
I do pay off in full...Feline Agree with you totally.
Well done instinct1. You are learning to live within your means which is a useful life skill.
Yes a month has passed now since Instinct put this posting on and I hope she is having real success with her affairs now.
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