One of our friends from the US told us that his wife, very wise woman, had forbidden him to use credit cards. And I must confess that they can be something of a trap.
Originally, I reasoned like this: If we use a credit card, our account will not be debited before the end of the month, where we’ll have more money on it. So we’ll gain a lot from not having to pay big interest rates.
As you may have suspected, I’m only human. So with a credit card it’s easy to just buy that nice little electronic thing there that I REALLY need. So each month it became more and more difficult to pay for what we’ve spend during that period. Now we have no credit cards.
Do you need one?
No, you don’t, but if you think you do, you can compare them on this page. The following is a paid preview:
This site, www.creditcard.org.uk says that it’s a UK comparison site for credit cards. They also say that they have up to date information and comparisons of interest rates, rewards etc. And it looks as if they are right:
You can quickly compare all the numbers: rates, cashback, rewards, etc.
But that being said, those are facts that you can find on the Internet yourself. It would take some time and some work, though, and here you get it all done for free. That’s nice.
What I miss, though, is people’s experiences – What problems did they have with certain credit cards? What did they pay if they had an overdraft? EGG is on top of the list for some reason. Where I live, in France, that company had to close, because people were very dissatisfied. You cannot see anything like that from the comparisons.
Also, I miss some information about what it means with e.g. Purchases – Duration, Balance Transfers – Duration etc. There were no link to a FAQ, and MORE INFO gave only more about that specific credit card and the possibility to apply for it.
All and all, I find it’s a nice site with a good overview, but very limited purpose.