Joe Mac
Well-Known Member
Yeah, I guess it's the difference in our two countries. It makes way more sense if I have a financing offer on my credit card to take advantage of that as often times a new financing opportunity elsewhere will require a credit check, which I want to avoid if possible to protect my current score. I also find it much easier to manage finances when my bills are consolidated as much as possible, but that is a personal preference thing.
Like I said, I've been on both ends of the spectrum. Got myself into major Credit Card debt in my younger years and it took me the very stressful first years of my professional life to dig myself out of it. If you asked me then, I would have said avoid them at all costs. Now I'm older and a *little* wiser, and have learned how to use Credit Cards to my advantage. If you can use them responsibly and can use self control, I think they're incredible in America. If I don't use my credit cards for purchases at this point, I almost feel like I'm leaving money on the the table.
Yeah I go solely off rate. For credit cards. mortgages, larger personal loans, savings the lot. I have absolutely no issue with switching providers as and when. From working underwriting mortgages a while back it’s excessive searches, rather than just searches, that does the real damage to your rate. A bit of research into rates/terms yourself should only lead to one search per switch and it’s not like I’m switching something monthly!
The only departure from this is I that have a small savings account, for holidays/luxury purchases, with my employee credit union and I take smaller personal loans from them. The combined payment is a salary deduction and their rates are generally the most competitive up to about €10,000.
Last edited: