Absolutely zero (due to Biden not giving huge tax breaks to the rich)
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How much debt you in ?
- Thread starter Napper
- Start date
The general Amex BA card doesn’t. There are various upgrades available which do have fees but I also use the Amex BA card ( not abroad though as the commission you pay is too high) and pay it off each month to also get the BA miles and companion voucher.
Arkwright
Arkwright
When I first got with my wife she had well over £30k in debt on loans, credit cards, an assortment of store cards, overdrafts, ect. My first job in the late 70's was with the TSB and you weren't allowed an overdraft, rightly or wrongly they felt if you couldn't conduct your own finances you couldn't deal with others, a bit draconian. However, I've always been of the attitude that if you can't afford it don't buy the exact opposite to my Nurse Gladys.
When we married she sold her flat, moved in with me a we remortgaged to clear her debts. Twenty odd years on it's all paid off but what could have been, in hindsight we could have kept her flat and that would have been our pension.
Oh well she's worth it.
When we married she sold her flat, moved in with me a we remortgaged to clear her debts. Twenty odd years on it's all paid off but what could have been, in hindsight we could have kept her flat and that would have been our pension.
Oh well she's worth it.
The amex one does (think it’s £250 a year or something like that but very easily worth it for the Avios/companion voucher - it’s the ‘Premium Plus‘ card - the basic card is free but the bonuses are less), not the Hilton card though
I do understand the only spend what you have / no credit card way of thinking which I guess is fairly stress free
But also I think you can work smartly with a premium credit card such as an Amex, as well as access to cards that regularly offer 12+ month 0% interest free regularly.
I’ll quite happily take a large purchase, put it on my Amex, balance transfer to sit at 0% for 12 months, while the lump balance sits in a easy access savings account earning 4.75% APR
But also I think you can work smartly with a premium credit card such as an Amex, as well as access to cards that regularly offer 12+ month 0% interest free regularly.
I’ll quite happily take a large purchase, put it on my Amex, balance transfer to sit at 0% for 12 months, while the lump balance sits in a easy access savings account earning 4.75% APR
Weststander
Well-known member
I know you’re a spring chicken, but is a military pension on the horizon?
doogie004
Well-known member
£0 thankfully
Weststander
Well-known member
Credit cards are also good for Section 75 consumer protection. Even if you pay off the balance in good time.
Good question. I have been ordering vinyl like a loony recently; I should check my bank balance.
Not buying some funny old records from Harry are you?
- May 8, 2018
- 10,619
Apart from mortgage will be debt free in September 2025 as bit the bullet and took an unsecured consolidation loan to clear “the spending of my youth”
Learnt to save and budget a lot more over the last decade so only use credit cards for the S75 protection really. The only exception is we use a Tesco credit card for food and Fuel and clear it each month, it earns us £250-£300 a year in club card points which goes towards Xmas
Learnt to save and budget a lot more over the last decade so only use credit cards for the S75 protection really. The only exception is we use a Tesco credit card for food and Fuel and clear it each month, it earns us £250-£300 a year in club card points which goes towards Xmas
£2192 on credit cards, being cleared off Friday. Been a tad expensive recently.
Going to Bruges so may spend a bit but have savings to clear it off.
Going to Bruges so may spend a bit but have savings to clear it off.
patchamalbion
Well-known member
Mid 30’s
Mortgage - yes a debt but currently just over 200k equity so it’s not a bad position at this stage.
Apart from that also in the Amex club, most spending goes on that but cleared each month.
Must say I’m a little obsessive with my pension/investments - want to hit 125k in the pension by age 40 and I’ll be happy with how things are going.
Mortgage - yes a debt but currently just over 200k equity so it’s not a bad position at this stage.
Apart from that also in the Amex club, most spending goes on that but cleared each month.
Must say I’m a little obsessive with my pension/investments - want to hit 125k in the pension by age 40 and I’ll be happy with how things are going.
Worried Man Blues
Well-known member
Downsized house thirty years ago, between wives, got rid of mortgage, best thing I did. Too difficult to do when married!!
Creaky
Well-known member
This.
Have been hitting the cards heavily recently.
Have maxed out on a number of occasions recently but buying online for building materials, kitchen, bathrooms etc. it is the safest way.
Interestingly, probably due to paying them off in full and on time, my credit rating has increased significantly over the last couple of years. Quite a change from before retirement when always paid on time but not in full.
mejonaNO12 aka riskit
Well-known member
Was very smug earlier in the thread saying I had none.
Then my car unexpectedly went bang. Bought a new one. Decided to borrow the money via 3 different sources. It may look messy but it means I can put my effort into clearing one quicker than the other and then having that extra money (which would have been for repayments) sitting with me to either save or throw at the remaining two loans. Feels so much less daunting than a big scary 5 year loan. Also helped that 2 of the 3 loans are 0% (family and work advance).
Some people suggested lease but I want to have the asset in my name, even though it's a depreciating one. Makes me always feel better that in the absolute worst, I could sell the car and clear the loan....and yes, I've tracked the likely value of the car vs outstanding loan for every month over a 5 year period because I'm a geek.
Then my car unexpectedly went bang. Bought a new one. Decided to borrow the money via 3 different sources. It may look messy but it means I can put my effort into clearing one quicker than the other and then having that extra money (which would have been for repayments) sitting with me to either save or throw at the remaining two loans. Feels so much less daunting than a big scary 5 year loan. Also helped that 2 of the 3 loans are 0% (family and work advance).
Some people suggested lease but I want to have the asset in my name, even though it's a depreciating one. Makes me always feel better that in the absolute worst, I could sell the car and clear the loan....and yes, I've tracked the likely value of the car vs outstanding loan for every month over a 5 year period because I'm a geek.
AmexRuislip
Retired Spy 🕵️♂️
Yes, only at 60
