this post was submitted on 21 Aug 2023
31 points (94.3% liked)
Personal Finance
3802 readers
1 users here now
Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Join our community, read the PF Wiki, and get on top of your finances!
Note: This community is not region centric, so if you are posting anything specific to a certain region, kindly specify that in the title (something like [USA], [EU], [AUS] etc.)
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
In the UK, as long as you are able to track your finances well enough to ensure you repay the balance in full each month (you can arrange for this to happen automatically), there's no reason not to use a credit card.
You should especially use it for purchases over £100 as by law card issuers are jointly liable for problems with goods purchased, so if I have a warranty issue the retailer won't help with I can go through section 75 with my bank
I have never purchased something on a credit card and had it on the balance long enough to pay interest though, the rates are insane.
Plus, some cards give you points. Which can later be used for things like upgrades on flights.
This is exactly what I use mine for, and I'm trying to convince my wife to do the same. We've had to buy some relatively expensive things for the house recently, so I've been using the credit card for the extra protection, while she's been paying in cash / debit card.
Luckily, we haven't had any major problems yet, but she doesn't seem to understand that the extra protection is worth it.
Honestly I've found that women have a different relationship with cash. It feels safer, more secure, it's tangible - I don't think that translates to credit so well. Just my experience however.