Whose got the trousers on?

[escapeUK]

that won't do you any good in the UK. Most places don't take it.

I had one. They then made the cash back rubbish and added a yearly fee, so I cancelled it in protest.

I think its fairer to say some places wont, than most. Amex charge a bigger % fee to the retailers.

[northernladuk]

Let's go through the myths you've used to rationalise your personal choice to access easy credit so far:

• If you don't have one, you wont be able to get a mortgage or a car loan. (In reality I've obtained several of both with no difficulty, and I'm sure I'm not unusual in that.)
  

This one is true but it is a little more complicated than that. If you have no form of credit like young person or someone that has never had a loan card etc you have a blank credit record. This can cause issues as your credit worthiness cannot be verified. Having no history in some cases can be as unhelpful as a bad one. I had a friend who got refused two loans on the basis of no credit history.

If you are already active in the system they absolutely yes, a credit card makes no difference.

[MarillionFan]

As usual Gentile argues her points like a woman whos never going to get a fella.

When is a credit card better than a debit card? | moneysupermarket.com

Credit cards offer more protection than debit cards. In addition cards like Barclaycard offer accidental damage protection as standard as well as being better covered for fraud and obtaining refunds if a company goes bankrupt. In addition by paying off your balance in full you get to keep the your money longer earning interest coupled with massive rewards / cashback you wouldn't get otherwise and that last point of building a better credit record which if required allows you greate loans and access to money as opposed to paying for your cat food in 1p coins.

Will madam be paying cash or using a debit card for purchasing her humble pie?

[Old Hack]

No, as previously noted dear, I've never had a personal credit card or store card and probably never will have one - by choice.

Let's go through the myths you've used to rationalise your personal choice to access easy credit so far:

• If you don't have one, you wont be able to get a mortgage or a car loan. (In reality I've obtained several of both with no difficulty, and I'm sure I'm not unusual in that.)
  
  
• You can't buy anything from the internet without using third-rate options like PayPal. (In reality I'm able to use my Visa Debit anywhere you can use a Visa Credit card.)
  
  
• Anything you do buy won't be covered by payment protection insurance. (In reality, all Visa Debit purchases are fully covered under the exact same Chargeback scheme that Visa Credit purchases use.)

Any other marketing myths or magic feathers you've swallowed that you'd like me to clear up? Does your credit card protect you against cancer? Allow you to walk on water? Or perhaps the whole reason EO received rotten onions the other night in Tesco was that he didn't choose to purchase them on tick?

The fact is that the only difference between Yes Loans and Credit Cards for some people is that they don't have to make a phone call to fall into the trap of misusing the latter. Of course, a lot of people use them sensibly, but then you do tend to find those sort of people don't rationalise their decision to access easy credit by claiming it exclusively allows you to do things that people who don't choose to use easy credit can demonstrably also do, such as obtaining a mortgage or a car loan.

The reality is you are missing the point.

I never said anyone couldn't get a loan, or a mortgage, I said having credit eases the process, or removes much of it altogether. As I said, I can secure a mortgage over the phone, and I'd venture a large wager you couldn't. Having credit is a good thing, if you like the idea of being able to secure money at any moment in time.

[escapeUK]

Will madam be paying cash or using a debit card for purchasing her humble pie?

[mudskipper]

Section 75 only applies to credit cards. It provides much more protection than the standard chargeback mechanism. I always pay for major purchases (at least partly) on credit card for the added protection.

[Gentile]

This one is true but it is a little more complicated than that. If you have no form of credit like young person or someone that has never had a loan card etc you have a blank credit record. This can cause issues as your credit worthiness cannot be verified. Having no history in some cases can be as unhelpful as a bad one. I had a friend who got refused two loans on the basis of no credit history.

If you are already active in the system they absolutely yes, a credit card makes no difference.

If it were true, then I would never have got my first loan, because I've never used a credit card and I had to start somewhere.

[sasguru]

If it were true, then I would never have got my first loan, because I've never used a credit card and I had to start somewhere.

Ah yet another thread in which Gentile pontificates as an expert, although she has limited knowledge about the subject. Although not as good for a laugh as stating that London had no specially nice bits

[Old Hack]

If it were true, then I would never have got my first loan, because I've never used a credit card and I had to start somewhere.

At your age, I guess the first loan was guaranteed by a parent or something? You're about the age they used to do this.

You'd also pay higher interest with no credit history by the way, on loans and credit cards. But hey, that's not an advantage is it...

[Gentile]

Section 75 only applies to credit cards. It provides much more protection than the standard chargeback mechanism. I always pay for major purchases (at least partly) on credit card for the added protection.

What extra protection do you think Section 75 provides? This article contains a fairly good summary of the differences between Section 75, Chargeback, and the security/insurance provided by other payment methods. The only material difference between Section 75 and Chargeback appears to be that in some cases some providers don't cover items less than £100. Conversely, purchases over £30k aren't covered by Section 75 but are covered by Chargeback. The one time I had to make a claim (because the item didn't arrive and the vendor's 'help' line was anything but), the item cost less than £100, and my Visa Debit provider (First Direct) still covered it with no quibbles.