Credit cards - worth it?

tommy21

Now that I am finally in a position to wipe out my credit card debt, I am wondering if it is even needed. I am loathe to keep it, considering I signed up as a hapless student and spent all around me for years. Now that it is clear I'm not sure I trust myself

I'm basically asking how difficult is it to live without one for things like booking flights, hotels etc. and whether alternatives like one use debit cards are actually all they are cracked up to be?

Also I payed stamp duty in April but presume I'll be hit again if I close, unless I move to another company (letter of closure required or some such?)

AlmightyCushion

Debits cards seem to work just as well as a credit card (I've never had any problems using mine any ways) so you should be fine with just that. There are certain advantages to credit cards though (if you pay a deposit and the company goes tits up you will get your money back with a credit card but not with a debit card, probably other benefits as well). If you're sensible and pay it off whenever the bill comes in then credit cards aren't a problem. I've had mine since I was 18 and I haven't paid a cent of interest on it.

Thoie

It really depends on whether you "trust" yourself. I use my credit card for extra protection when booking travel, or putting a deposit on something big. If you're using a top-up card, I wonder if it's possible to initiate a chargeback if something goes wrong?

Jogathon

I wouldn't be without a credit card, especially when backpacking/travelling around different countries. Visa is accepted everywhere, it's great in an emergency. But I trust myself with it - and that's vital! Discipline is the key!

ytpe2r5bxkn0c1

Visa Debit is accepted anywhere a Visa Credit card is so I did away with the CC 14 months ago. Booked flights, hotels, ate out abroad, bought on-line the whole nine yards and no problems.

If you are really unsure about keeping it. How about getting a prepaid card.
You just top them up as you would a pre-paid phone.
I got myself an 02 money card, and use it to buy a lot of stuff online but it can be used in shops.
The main cost is a charge for topping up, not much though.
The main reason I went for a prepaid card, is that whatever happens (ie card gets scanned/unsure websites), I can only loose whatever I have topped up by.
Also I have to make a conscious decision to top up the card in order to buy something (never keep too much money on the card), so no (well very few) impulse buys.

Jesus Wept

Considering getting rid of mine too as I am sick of the yearly government levy.

ytpe2r5bxkn0c1

Deleted User wrote: »

If you are really unsure about keeping it. How about getting a prepaid card.
You just top them up as you would a pre-paid phone.
I got myself an 02 money card, and use it to buy a lot of stuff online but it can be used in shops. .

Can't hire a car in many countries with a pre-paid.