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Standard User kasg
(knowledge is power) Sun 14-Jan-18 08:31:09
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Re: Credit card surcharges


[re: ukhardy07] [link to this post]
 
In reply to a post by ukhardy07:
Plenty of people spend everything on credit, myself included. The benefits of using credit card make it a no-brainer, given the free air miles, free flights, points etc that can be had.

Not to mention the Section 75 protection. Using cash for everything is pretty dangerous these days.

Kevin

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Standard User ian72
(eat-sleep-adslguide) Mon 15-Jan-18 10:23:10
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Re: Credit card surcharges


[re: kasg] [link to this post]
 
My card provider pay me for using it. I always pay off card in full every month so as you say I get the protection and they pay me 0.5% back on all purchases. Add to this that the money stays in my bank account longer so I also earn interest on that. Used correctly credit cards can be a decent little money saver and definitely something I will continue doing all the time it pays me to do it.
Standard User kasg
(knowledge is power) Mon 15-Jan-18 13:28:08
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Re: Credit card surcharges


[re: ian72] [link to this post]
 
Same here on every count. It's free money and free protection.

Kevin

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Standard User ian72
(eat-sleep-adslguide) Mon 15-Jan-18 15:27:23
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Re: Credit card surcharges


[re: kasg] [link to this post]
 
In reply to a post by kasg:
Same here on every count. It's free money and free protection.
The only argument I can see against was posted on another thread over the weekend.

Essentially by taking advantage of the offers and paying nothing to the credit card company my use of cards is potentially being subsidised by the more vulnerable members of society who are paying the high interest rates and penalties - those potentially that are in the least capable position to afford it.

That is a possible moral argument against using them - but the same argument could be used around many things, for example I seek the cheapest gas/electric rate I can but I know that people who are potentially vulnerable may be being gouged on pre-payment meters.

People with poor credit will also get higher interest rates - unfortunately it is the way the industry works in that the people with least money tend to end up paying more for many things because they are higher risk for maintaining payments.
Standard User Oldjim
(knowledge is power) Wed 17-Jan-18 21:20:18
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Re: Credit card surcharges


[re: TLM] [link to this post]
 
I will be able to in the next week or so as I just changed the direct debit details with not enough time before my billing date (whoops!)
Standard User Chrysalis
(legend) Wed 17-Jan-18 21:35:30
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Re: Credit card surcharges


[re: Oliver341] [link to this post]
 
they cant do that as previous legislation forbid profits been made on fees, which has killed these cashback bonus schemes.

This is one of those legislation's that will backfire, consumers will pay somehow, most likely via across the board rises.

One company has risen the cost of their service to the credit card price and started offering discounts to whose who dont pay by credit card. Same thing but done in a legal way.

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Standard User Chrysalis
(legend) Wed 17-Jan-18 21:38:29
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Re: Credit card surcharges


[re: ian72] [link to this post]
 
In reply to a post by ian72:
In reply to a post by kasg:
Same here on every count. It's free money and free protection.
The only argument I can see against was posted on another thread over the weekend.

Essentially by taking advantage of the offers and paying nothing to the credit card company my use of cards is potentially being subsidised by the more vulnerable members of society who are paying the high interest rates and penalties - those potentially that are in the least capable position to afford it.

That is a possible moral argument against using them - but the same argument could be used around many things, for example I seek the cheapest gas/electric rate I can but I know that people who are potentially vulnerable may be being gouged on pre-payment meters.

People with poor credit will also get higher interest rates - unfortunately it is the way the industry works in that the people with least money tend to end up paying more for many things because they are higher risk for maintaining payments.


Such is life.

People on retention deals on an isp may not even be profitable but subsidised by loyal customers.
People who dont switch between utilities at end of every contract are probably subsidising those who do.
Credit cards are no different in that respect, get a 0% card, and even get cashback bonus on top of that, then someone somewhere is subsidising your service, but it is what it is.

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Standard User kasg
(knowledge is power) Fri 19-Jan-18 10:13:15
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Re: Credit card surcharges


[re: Chrysalis] [link to this post]
 
In reply to a post by Chrysalis:
they cant do that as previous legislation forbid profits been made on fees, which has killed these cashback bonus schemes.

It's not killed mine, I still get 0.5% (although I used to get 1% on one card).

Kevin

plusnet Unlimited Fibre Extra - sync 75433/20000 at around 450m - BQM
Using OpenDNS
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Standard User Oldjim
(knowledge is power) Tue 23-Jan-18 15:57:09
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Re: Credit card surcharges


[re: TLM] [link to this post]
 
Final update
Just paid my bill via cash card (direct debit hasn't gone through) and I can confirm that there was no surcharge
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