Preethi Paying with Debit cards is always like carrying cash...and I think this doesnt hurts our credit score also even if we swipe the debit card several times in a week...woww..nice to see another friend who is not a impulsive buyer...way to go girl:cheers
Yeah debit cards are very useful. I do not know about credit scores, we do not have that system in Dubai. Is it that your credit card usage is linked to a score?
Srividya, a good topic. I always use credit cards even for very small amounts and carry some 20$/$30 and call me crazy, it is usually this money that I use for impulsive buying and spend on little knick knacks! If something is more than 30$, I can never buy impulsively without weighing the need/want thingie
Yes Preethi Not only the credit card usage, but also the no. of bank accounts opened/closed, how many late payments made to the credit card, any EMIs paid (like mortgage/car loan etc) would be taken into account while calculating this Credit Score...and this CS is the most used indicator when we apply for loans or bank accounts / CCs
That sounds pretty unique and innovative. In chennai, they may not accept that , but sure is a great idea. Exactly Preethi. Here the minimum varies between Rs. 200 - Rs. 300. There are a few department stores where it is Rs. 100. Srama, Thats why I carry some money too. I prefer buying knick knacks with that money, and spend on necessities like travel. I am not too impulsive, and in fact I think too many times before buying something. There have been things that I have missed because of this attitude as well, and ended up scolding myself for thinking too much. That said, I dont take too much time to decide too. Arch
Vidya, I am no way different from you girls!! Is it not ladies tendency for keeping only few rupees/$s in wallet just to put a hold on shopping spree. Yes, I too carry around 200$ just to get some veggeis to home/auto charges for emergency purpose. Most of the times, I use my Debit card for shopping purpose. I dont have credit card yet, Even my husband too. We make sure that we have enough cash for monthly expenses plus a bit of luxury amount also in our cards so that we don't feel running out of money if we happened to go for a shopping.
SV, I think i am the odd woman out in this whole thread. I carry cash. I do have my debit card but do not use it. I just withdraw from the ATM before going shopping if i need more. I place a limit to myself with the cash i take on that day. the limit is set for local grocery purchase or even if it is a bigger purchase. since i do not have any credit cards, i don't use any. All my big purchases are when DH is in town, and and he is pretty comfortable with the usage of credit cards, and he does get some points to knock off the annual fees.
Woww...Dear!! these days I hear on news here, that people are getting rid of plastic i.e CCs as much as they can, as the debt keeps piling up. I guess we Indians are more conscious about our debt management.. There is this program with Suzie Orman where people say they have 40K debt on CCs some said he even took an add-on card on his parents CCs and his debt is 90K just on CCs.:bonkGuess whats his hobby:ideabuying expensive branded shoes:crazy
