How many credit cards do forumosans need?

[11173]

• 1
• 2-3
• 4-5
• 6+

[superking]

I have zero credit cards. No option for that in your poll.

I have never had a credit card in my life.

[papertowel]

@meishijia

[BiggusDickus]

@superking

I have zero credit cards. No option for that in your poll.

I have never had a credit card in my life.

I try to use mine as little as possible. Credit can be a dangerous beast.

[ShutUpLegs]

No personal CC, only a company one.

[superking]

@BiggusDickus

Credit can be a dangerous beast.

I happily eat from the discounted food section in the supermarket and forego buying things when I’m low on money. Not sure if it’s generational, or I’m frugal, or what.

[meishijia]

As per other thread

@meishijia

I have two so far, AMEX and Fubon.

There is an assumption online that one’s max credit limit across all banks should be no more than 22 times one’s monthly salary, and I’d like to get to that number by collecting different cards with cool features and benefits. It feels good to know that a bank is willing to give me credit, that I’m trustworthy enough. Right now I’m at 2 times my monthly salary.

[BiggusDickus]

I just had to book a flight to the UK for 105k. I also had a 50k tax bill on my cc. My bank rejected me because it was over my limit. I asked my bank for an additional credit extension, and their response was for me to put money into my cc to cover the cost.

Kind of goes against the concept of credit on a cc.

[Lost.in.space]

My wife had a call from Her credit card company along the same lines. She called the Financial Ombudsman to complain. The next day the payment was approved and she received a call from the bank apologising.

[Steve4nLanguage]

I have two but only ever use one; the second is a backup “just in case.” Here’s a personal story…

When I was young with a family and struggling financially, I had an ever-present balance on three or four cards, often maxed out. I racked up the interest charges and could never pay the damn things off. I was doing payday advances and all that crap.

After my kids grew up and I got divorced, I was finally able to free myself from crushing debt. After moving to Taiwan I vowed never to carry a balance on my credit cards. Luckily, my circumstances are such that I’ve been able to do that. Freedom from debt is priceless to me.

[afterspivak]

@BiggusDickus

My bank rejected me because it was over my limit. I asked my bank for an additional credit extension, and their response was for me to put money into my cc to cover the cost.

My bank does exactly the same to me. It can be a real pain.

Guy

[afterspivak]

@Steve4nLanguage

After moving to Taiwan I vowed never to carry a balance on my credit cards. Luckily, my circumstances are such that I’ve been able to do that.

That’s a great story. Good on you for taking control of things again.

Many of the best things around don’t cost much money. It’s possible to have a lot of fun in Taiwan without splurging.

Guy

[qwert_zuiop]

How many credit cards do Forumosans need?

ALL OF THEM!

[TT]

Yet another poll i can’t answer, I’m currently between credit cards and find that i don’t actually miss it

[TT]

@superking

I happily eat from the discounted food section in the supermarket and forego buying things when I’m low on money. Not sure if it’s generational, or I’m frugal, or what

Me, too. I think it’s because I grew up lower class, so I understand frugal. There was always food in the fridge and gifts under the tree, but my folks were careful with money because they didn’t really have any.

[TaipAmy]

I have many for the freebies. Some give you free parking, some give you significant discounts at restaurants or on airfare, some give you discounts on gas, some give you half price movie tickets and free popcorn and others give you rewards or cash back or are the only option to use at certain places.
Sometimes I even sign up for a card to get free gifts and then cancel it immediately if it no longer offers anything of value.

The only problem is remembering which to use at which place.

[volv1992]

I have many cards. You can improve your credit rating by using one and paying it off each month - each monthly statement you get a good mark on your rating. If you have many cards on the go at the same time, you get many more good marks.

Using a credit card to withdraw cash from an ATM is a very bad idea though, this basically looks awful on your credit rating. Someone I knew had their mortgage application denied because of this.

Additionally, the free PPI when you use it abroad is useful, any dodgy transactions they can just cancel off. It’s much more complicated if that happens with a debit card. At least, that’s in my experience.

Edit: removed accidental quote

[qwert_zuiop]

As we’re on the topics of reasons to use credit cards, here are mine:

1. Convenience. I am just lazy to count the change every time and carry all these coins with me. Also, less trips to the ATM.
2. Keeping track about expenses: I track all my spending. With cash, there’s usually around NT$ 500 per month “missing” which I forget to account for and can’t remember where I spent it. Doesn’t happen with the plastic money.
3. Cashback / Other advantages. Getting back some percent is always nice, isn’t it?

[11173]

@Steve4nLanguage

Freedom from debt is priceless to me.

aw yep

[superking]

@TaipAmy

Some give you free parking, some give you significant discounts at restaurants or on airfare, some give you discounts on gas, some give you half price movie tickets and free popcorn and others give you rewards or cash back or are the only option to use at certain places.

I get free parking by going to park where it’s already free. I don’t want discounts at restaurants. Those people work hard. I get flight discounts by flying at weird times or from inconvenient airports. Movies are half price on a Tuesday here.

I don’t need credit cards.