Credit cards are bad mmkay

MooseJam

Yeah a few months ago I decided to not look at my credit card bills anymore and instead I'd just pay off money every now and again and I figured that would keep it at zero owed or fairly close to it well just for a laugh I took a look at one today - expecting it to be around 100 yoyos at most and was fairly shocked to find I owe over a grand - pretty sick at the mo ha ha

bluemachaveli

They are indeed, i ran up €1,500 in 2 days when i first got mine.
Stupid eBay :mad:

AlmightyCushion

Just set up a direct debit to take money out of your account to pay the credit card bill the moment it comes in. Borrowing on a credit card is not a smart idea.

Sherifu

Consolidate.

Blob Gilb

The Motley Fool: Consumer Debt Discussion Board

Those guys are happy not to owe more than $ 10,000 ... Yanks

Naikon

That stinks.....:mad:
Maybe time to look into a 3v/debit card.

I have one and it's great for making purchases online, the only
quibble though is you pay a 5 euro fee each time to place credit on the card.

MooseJam

AlmightyCushion wrote: »

Just set up a direct debit to take money out of your account to pay the credit card bill the moment it comes in. Borrowing on a credit card is not a smart idea.

sounds like a good idea

Creamy Goodness

Naikon wrote: »

That stinks.....:mad:
Maybe time to look into a 3v/debit card.

I have one and it's great for making purchases online, the only
quibble though is you pay a 5 euro fee each time to place credit on the card.

whilst 3v are great for one off purchases if you top them up anymore than 4 times in a year you're just wasting money as the stamp duty is only 20 euro.

i've had a credit card since i turned 19 - thanks to AIB student account - i started out at 800 euro limit, now up to 3,300euro limit within 3 years.

i don't see any problems with credit cards at all as long as you have or can learn self-control before getting one. in those 3 years i've never paid a cent in interest and the minute i find myself paying a cent in interest the card is getting shredded.

i'd be seriously lost without mine.

Ross_Mahon

I don't use credit cards at all, i would rather just save up for things i really want. Laser cards are alright, because you don't have lots of change in your pocket from using cash.

Anyone have more than five credit cards in their wallet?

elmolesto

AlmightyCushion wrote: »

Just set up a direct debit to take money out of your account to pay the credit card bill the moment it comes in. Borrowing on a credit card is not a smart idea.

It's definitely a bad way to borrow money.

Naikon

Cremo wrote: »

whilst 3v are great for one off purchases if you top them up anymore than 4 times in a year you're just wasting money as the stamp duty is only 20 euro.

i've had a credit card since i turned 19 - thanks to AIB student account - i started out at 800 euro limit, now up to 3,300euro limit within 3 years.

i don't see any problems with credit cards at all as long as you have or can learn self-control before getting one. in those 3 years i've never paid a cent in interest and the minute i find myself paying a cent in interest the card is getting shredded.

i'd be seriously lost without mine.

I reckon I will get one at some stage, because of the sheer amount of stuff I purchase online.
I just have to get off my arse and get it sorted:rolleyes:

The self control thing is true mind you, I know a lad who had one since he
was 17 manages fine, even with a part time job.

Excuse the pun, but what the hell is card stamp duty
I thought it is a payable tax on property transfer?

Naikon

Ross_Mahon wrote: »

I don't use credit cards at all, i would rather just save up for things i really want. Laser cards are alright, because you don't have lots of change in your pocket from using cash.

Anyone have more than five credit cards in their wallet?

Laser isn't widely accepted throughout this country though.

Creamy Goodness

Naikon wrote: »

Excuse the pun, but what the hell is card stamp duty
I thought it is a payable tax on property transfer?

yeh probably the wrong word, but i meant there's a card tax of 20 euro on a credit card (use to be 40).

well they are both taxes so i guess i wasn't a hundred miles away :pac:

311

I got my first credit card last year ,this christmas the stinker was at 5K.
So I cleared it there a few weeks ago ,felt great.:)

Ross_Mahon

Naikon wrote: »

Laser isn't widely accepted throughout this country though.

I would normally do my shopping in the square since its so close, every shop seemed to take laser, What about town?

Naikon

Cremo wrote: »

yeh probably the wrong word, but i meant there's a card tax of 20 euro on a credit card (use to be 40).

well they are both taxes so i guess i wasn't a hundred miles away :pac:

Right, I am basically losing once I make more than 4 purchases.

/burns 3v card

AlmightyCushion

Naikon wrote: »

Right, I am basically losing once I make more than 4 purchases.

/burns 3v card

Yeah just get a credit card. As long as you don't spend money you don't have it's grand.

Naikon

Ross_Mahon wrote: »

I would normally do my shopping in the square since its so close, every shop seemed to take laser, What about town?

Sorry let me re-phrase, I shop mostly online so a laser is useless.
Mind you, I have never had a laser, but from the people I have known to have one, they always complained about the lack of outlets which accepted the card.

Canis Lupus

Beautiful thing about the UK is your ATM card is a debit card accepted pretty much everywhere. Much better than having a credit card and telling yourself you'll be able to pay back the holiday in just 6 easy monthly installments.

I want someting expensive I save for it.

sam34

Ross_Mahon wrote: »

Anyone have more than five credit cards in their wallet?

a couple of years ago i had three credit cards, and sure enough i maxed them all out, leaving myself 18k in debt! utter madness and stupidity on my part. eventually gao a loan to pay them off and closed all the accounts, cut up cards etc. have since gotten one credit card with a low limit and i clear it every month.

Naikon

sam34 wrote: »

a couple of years ago i had three credit cards, and sure enough i maxed them all out, leaving myself 18k in debt! utter madness and stupidity on my part. eventually gao a loan to pay them off and closed all the accounts, cut up cards etc. have since gotten one credit card with a low limit and i clear it every month.

I think that is the key....set a limit appropriate to your financial
situation. Nobody needs the hassle to pay back a an outstanding debt
more commonly found among celebrities/wealthy people .

Ross_Mahon

Naikon wrote: »

Sorry let me re-phrase, I shop mostly online so a laser is useless.
Mind you, I have never had a laser, but from the people I have known to have one, they always complained about the lack of outlets which accepted the card.

I am suppose to be able to use the laser online, but its missing the 3 digits at the end, my mate has the same card and uses his online all the time. Think i have to sort it out directly with the bank?

astrofool

Laser cards are pretty much accepted anywhere in Ireland now, the exceptions would be very small stores. They're great for not carrying cash around, and very fast to use if the shop is set up right (connection via dsl so authorisation takes 2 seconds). It saves the wimmins fumbling about counting money at the counter (although you might lose that time as they try and play guess the non maxed out card with the sales assistant).

No incentive to carry more than one card in this country due the stamp duty on each card. There's also a tax to close the card. The idea behind multi cards was that you would have competition in your wallet as to who you would owe, so many cards had reward schemes (air miles for example). Instead it just turned into people maxing out all their cards

People who spend money they don't have on a credit card are usually quite dumb, just be thankful that the interest they pay means you have your card for (basically) free .

connundrum

I've had two credit cards in my life, both of which I took the piss out of and got landed with hefty bills at the end. I stopped using my current credit card at the beginning of last year and things have worked out ok.

Anything I want to buy online, I give the missus monies and she sticks it on her card. I'll have all loans paid off in the next couple of months and can not wait. Counting the days, literally!

Adam

Reading this thread made me apply for a credit card...

xOxSinéadxOx

Canis Lupus wrote: »

Beautiful thing about the UK is your ATM card is a debit card accepted pretty much everywhere. Much better than having a credit card and telling yourself you'll be able to pay back the holiday in just 6 easy monthly installments.

I want someting expensive I save for it.

my ATM card is also my laser and it is accepted almost everywhere!

ongarite

I have had a credit card for the last 5 years and have never run up any debts or interest payments on it.
IMO, credit cards are fantastic AS LONG as you play back the amount in full each month. Paying back minimum each month is financial suicide and a slippery slope to serious debt problems.

Creamy Goodness

xOxSinéadxOx wrote: »

my ATM card is also my laser and it is accepted almost everywhere!

some of shops though have a crappy 10 euro limit when using laser

stepbar

Why are you shocked OP? Did you not spend the money in the first place? What did you expect? The money to disappear, the bank to forget about it? :rolleyes: Some people should never get any sort of credit..... ever :rolleyes:

Unpossible

Is VISA Electron widely used in Ireland? It is quite popular over here (Finland) and is handy as it takes the money directly from your bank account.

Creamy Goodness

no not on the same scale as laser maestro, which does practically the same thing although doubles up as an ATM card (don't know if the electron does that).

311

My sister used the elctron card over here for a while ,I don't think she had much trouble with it. She was taking cash out at atm's.

Unpossible

no not on the same scale as laser maestro, which does practically the same thing although doubles up as an ATM card (don't know if the electron does that).

Electron is also an atm card (they are usually the basic card you get from a bank here). I know irish atm's accept them, but I can't remember if shops there do too.

skyhighflyer

Unpossible wrote: »

Electron is also an atm card (they are usually the basic card you get from a bank here). I know irish atm's accept them, but I can't remember if shops there do too.

Anywhere that takes Visa can take Electron too.

TequilaMockingBird

Ross_Mahon wrote: »

Anyone have more than five credit cards in their wallet?

Yep, and their having great crack bouncing off each other. It would be cruel to separate them at this stage.



I may be crap with money, but I'm kind.

bug

I love my laser card.
Real money! Rather than pretendy money that isn't mine.

FruitLover

I use my credit card an awful lot, but it's mostly online or large real-shop purchases where cash wouldn't be practical, and I usually keep my balance relatively low (<2000). It's weird paying 2-3k to a credit card company from a current account through online banking - it's like play money!

Gummy Panda

FruitLover wrote: »

I use my credit card an awful lot, but it's mostly online or large real-shop purchases where cash wouldn't be practical, and I usually keep my balance relatively low (<2000). It's weird paying 2-3k to a credit card company from a current account through online banking - it's like play money!

lol i know the feeling. I have 1400 on mine at the moment. TBH i didn't use it for months and did alot of shopping recently.

Dord

I use mine a bit alright, I try not to spend more than I could pay off in that month (normally). Mainly just use it for buying small things online though.

Blush_01

I have no willpower and I have a credit card. I've had it for over two years, never paid a cent in interest and only use the card when I can afford to pay it off straight away - very handy for when you're away somewhere and don't want to spend whatever cash you have - I rarely carry more than €20 with me at any time - and 24hour banking means I can pay it off purchase by purchase.

I my Mastercard.

I have a very small limit, which helps. I don't intend on ever increasing it.

Epic Tissue

I have one of those AIB Student cards, €600 limit on it so grand. I use it for online stuff, wouldn't spend what I don't have in my hand or in my bank account.

Kernel

Epic Tissue wrote: »

I have one of those AIB Student cards, €600 limit on it so grand. I use it for online stuff, wouldn't spend what I don't have in my hand or in my bank account.

Soon they will own your ass student.




Just do as conspiracy theorists have said for years and get out of debt. You don't really need that PS3 or iPhone. **** consumerism.

Xavi6

I've got two credit cards, one Irish and one Australian. Still paying off the Irish one over a year after I left the country. I always end up consulting it for eBay purchases. Stupid I know.

Missus has a Visa Debit card which means you can't spend more than you put onto it yourself but it has the same abilities as a credit card.

Dudess

Xavi6 wrote: »

Missus has a Visa Debit card which means you can't spend more than you put onto it yourself but it has the same abilities as a credit card.

Same as Laser. I chopped up the credit card, but I still have the number/expiry date for online purchasing. Still though, at least I can't do any damage in the shops - I use my Laser for that but I'm far more limited. It's made a huge difference.

Xavi6

Dudess wrote: »

Same as Laser. I chopped up the credit card, but I still have the number/expiry date for online purchasing. Still though, at least I can't do any damage in the shops - I use my Laser for that but I'm far more limited. It's made a huge difference.

Ah didn't realise it was one and the same. Seems like the smart option, i.e. the one I chose to ignore.

BraziliaNZ

my card is visa debit. I remember trying to get a laser a few years ago in Bank of Ireland and they wanted me to meet the f*cking manager etc. just so I could have a debit card... In most countries they are standard on all bank cards. In New Zealand, it's no biggie to pay for a pint on your debit card, just lash in your pin, I never use cash anymore. Why can't this happen in Eire?

Rb

I've a mastercard and I f*cking hate the thing. Started off at €600 limit and worked my way up to €2k. Will be spending the summer clearing the card and my loan as I'm sick of looking at them and will only use my laser in future, or have the limit on the CC reduced to €600 again and only use it when I have the money to put back on the card.

kaimera

Visa with 1k limit does me grand. Usually put more money in the account so I dont have to worry about paying it off after buying something.

got a nice no limit AMEX as well but I'm afraid to use it

311

My limits 13K at the moment between two cards ,it's just ridiculous as I never had any CC's at all ,until last year.

Caoimhín

Borrowing for luxury goods is a bad idea, full stop.

togster

I have a bank card here in Sweden at the moment. It is my ATM/debit card and i can use it abroad and on-line.

Way better than a credit card in my case because i would get in serious debt using a credit card.