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Credit Card, advantages and disadvantages?

  • 21-02-2015 11:10pm
    #1
    Tearin It Up
    Banned (with Prison Access) Posts: 449 ✭✭


    I can't believe I'm asking this as I had one before in the good times and I swore I would never ever get another credit card again.

    It wasn't just the credit card, I had a car loan too, massive credit card debt.

    I'm debt free for five years and I like it. I won't buy something unless I have the money for it. I will save for something now rather than getting a loan.

    However, I am thinking of going on holiday and don't many hotels require a pre-authoritisation.

    I have a debit card and the pre authoritisation might leave me short.

    I have a pre-paid credit card but I can imagine, I would have to have a balance on that to use it for pre authoritisation.

    Is a credit card worth it for these type situations.


Comments

  • #2
    GerardKeating
    Registered Users, Registered Users 2 Posts: 7,806 ✭✭✭GerardKeating


    Tearin It Up wrote: »
    I can't believe I'm asking this as I had one before in the good times and I swore I would never ever get another credit card again.

    It wasn't just the credit card, I had a car loan too, massive credit card debt.

    I'm debt free for five years and I like it. I won't buy something unless I have the money for it. I will save for something now rather than getting a loan.

    However, I am thinking of going on holiday and don't many hotels require a pre-authoritisation.

    I have a debit card and the pre authoritisation might leave me short.

    I have a pre-paid credit card but I can imagine, I would have to have a balance on that to use it for pre authoritisation.

    Is a credit card worth it for these type situations.

    Get one, and setup a direct-debit to clear the balance in full each month.


  • #3
    miezekatze
    Registered Users, Registered Users 2 Posts: 1,341 ✭✭✭miezekatze


    Get one with a low credit limit (like 1k) and make sure you pay it off in full every month.


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