Just received my wife's credit card statement today, we always pay off
in full so it's academic but here you go......

Balance = £887.21 (yeah, yeah, Christmas expenditure)

Min payment = £23

If I make the minimum payment by the due date, estimated interest
is.........wait for it, drum roll......£22.94!!!

So I reduce my wife's debt by a whopping £0.06!!!!

God bless UK banks :-)

Rasta Pickles wrote in news:40e5597e-4cac-468c-
:


Just received my wife's credit card statement today,

The only credit cards I have every possessed are those issued by my
employer for use covering out of pocket expenses.

--

Regards,


Periander

On 30/12/2010 19:52, Periander wrote:

Rasta wrote:

Just received my wife's credit card statement today,

The only credit cards I have every possessed are those issued by my
employer for use covering out of pocket expenses.

There's no need to be sniffy about credit cards. It's an incredibly useful
way to pay even if you don't want the official "credit" beyond the bill date.
Mind you, the debit card is almost as good.

JNugent wrote in
:

On 30/12/2010 19:52, Periander wrote:

Rasta wrote:

Just received my wife's credit card statement today,

The only credit cards I have every possessed are those issued by my
employer for use covering out of pocket expenses.

There's no need to be sniffy about credit cards. It's an incredibly
useful way to pay even if you don't want the official "credit" beyond
the bill date. Mind you, the debit card is almost as good.

Yup, use a debit card all the time indeed since they first came out but
never a credit card. The only thing I've ever bought on tick is the house
and that gets paid off (very early!) in a few months.

--

Regards,


Periander

Periander wrote:
Rasta Pickles wrote in
news:40e5597e-4cac-468c-
:


Just received my wife's credit card statement today,

The only credit cards I have every possessed are those issued by my
employer for use covering out of pocket expenses.

I find mine very useful - and very profitable.

Apart from very minor purchases I buy almost everything using my Tesco
credit card - and pay it off in full every month. This means that I am a
'month ahead' in terms of interest being earned on the money I have spent.

Tesco credit cards give Tesco points on every purchase, no matter where the
card is used. It also acts as a Tesco loyalty card and so, when used in
store (and for Tesco fuel), you get the credit card points on top of the
normal loyalty card points, - and this means that every quarter I receive a
hefty bundle of vouchers that I can either just spend in store - or use for
three times their face value for 'Deals'. I am currently on my second year
of RAC membership paid for with Tesco vouchers. My wife has 12- month
subscriptions to three magazines, and I have similar subscriptions to two
car magazines - all paid for with vouchers. Our two main shopping trips to
Tesco for Christmas and New Year food and entertaining has been paid for
entirely with the vouchers.

And all this simply for buying goods and services with a Tesco credit card.
The RAC membership, five magazine subscriptions, all our Christmas/New Year
food and drink have been effectively free!

The only time I don't use the Tesco card is when I'm abroad - I have an
alternative credit card for foreign spending which doesn't charge extra for
foreign use.

--
Kev

"Rasta Pickles" wrote in message
...
Just received my wife's credit card statement today, we always pay off
in full so it's academic but here you go......

Balance = £887.21 (yeah, yeah, Christmas expenditure)

Min payment = £23

If I make the minimum payment by the due date, estimated interest
is.........wait for it, drum roll......£22.94!!!

Just over 30% pa sounds a expensive rate for cards; I thought they were
mostly under 20% now.

You need to find a friend who's got a spare £887 in a savings account
earning 1% pa if he's lucky.

Borrow the money off him to pay off the statement, and pay him £5 a month
for the trouble.

He'll be getting 6.7% interest instead of 1%, and you'll only be paying 6.7%
interest instead of 31%, and everyone will be happy. Except the banks.

--
Bartc

On Dec 30, 8:37*pm, "BartC" wrote:
"Rasta Pickles" wrote in message

...

Just received my wife's credit card statement today, we always pay off
in full so it's academic but here you go......

Balance = £887.21 (yeah, yeah, Christmas expenditure)

Min payment = £23

If I make the minimum payment by the due date, estimated interest
is.........wait for it, drum roll......£22.94!!!

Just over 30% pa sounds a expensive rate for cards; I thought they were
mostly under 20% now.

You need to find a friend who's got a spare £887 in a savings account
earning 1% pa if he's lucky.

Borrow the money off him to pay off the statement, and pay him £5 a month
for the trouble.

He'll be getting 6.7% interest instead of 1%, and you'll only be paying 6..7%
interest instead of 31%, and everyone will be happy. Except the banks.

Nice one and succintly put:-)

Ret. wrote:
Periander wrote:
Rasta Pickles wrote in
news:40e5597e-4cac-468c-
:


Just received my wife's credit card statement today,

The only credit cards I have every possessed are those issued by my
employer for use covering out of pocket expenses.

I find mine very useful - and very profitable.

Apart from very minor purchases I buy almost everything using my Tesco
credit card - and pay it off in full every month. This means that I
am a 'month ahead' in terms of interest being earned on the money I
have spent.

The months interest you have saved is worthless at the moment. However the
insurance that you get for some purchases by using a credit card makes it
worthwhile.

--
Adam

Rasta Pickles wrote:
Just received my wife's credit card statement today, we always pay off
in full so it's academic but here you go......

Balance = £887.21 (yeah, yeah, Christmas expenditure)

Min payment = £23

If I make the minimum payment by the due date, estimated interest
is.........wait for it, drum roll......£22.94!!!

So I reduce my wife's debt by a whopping £0.06!!!!

God bless UK banks :-)

I use an egg cash back card at 1 per cent, so would have got paid nearly 9
quid

On 30/12/2010 21:22, Mrcheerful wrote:
Rasta Pickles wrote:
Just received my wife's credit card statement today, we always pay off
in full so it's academic but here you go......

Balance = £887.21 (yeah, yeah, Christmas expenditure)

Min payment = £23

If I make the minimum payment by the due date, estimated interest
is.........wait for it, drum roll......£22.94!!!

So I reduce my wife's debt by a whopping £0.06!!!!

God bless UK banks :-)

I use an egg cash back card at 1 per cent, so would have got paid nearly 9
quid

Yes - I get about £100 pa back on Amex.