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Credit Cards

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My OH is thinking of getting a credit card, we've never used credit cards before so i dont know anything about them and their charges, can anyone please advice on the best one to get. Pros and Cons. T…
ilovelilac Avatar
7y, 7m agoPosted 7 years, 7 months ago
My OH is thinking of getting a credit card, we've never used credit cards before so i dont know anything about them and their charges, can anyone please advice on the best one to get. Pros and Cons. Thank you
ilovelilac Avatar
7y, 7m agoPosted 7 years, 7 months ago
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#1
I have never had one, my best advice to you is do not get one.
#2
can u not get an overdraft as the interest rate is usually less..
#3
An overdraft would be better. You're just added debt to your life, unless it's an emergency don't bother.
1 Like #4
Alfonse
I have never had one, my best advice to you is do not get one.


I just cut mine up yesterday - Have to agree with the above. If you can in any way shape or form avoid getting one, then this is the best option.
Otherwise.. naturally look at APR rates. Perhaps even think about any that might offer you extra things that could be useful to you - discounts at a shop you use a lot, miles for an airline you fly on. That sort of thing. Ultimately you want to be paying as little interest as possible so compare here
#5
Credit cards do have there good points as long as you can control yourself and pay them in time,If you buy anything major electrical or book holidays its always best to book by credit card for the extra insurance it offers.
#6
http://www.moneysavingexpert.com/cards/best-0-credit-cards#deals

discusses best 0% deals, have to be honest unless you are going to be really strict I would advise against taking one though:)
#7
thanks i never planned on getting a credit card in my life, thing is he wants to put a deposit on a new place and he doenst get paid for ages, he doesnt plan on using it to pay for anything other than the deposit and plans to pay it back probably end of next month so just a temporary thing
#8
ilovelilac
thanks i never planned on getting a credit card in my life, thing is he wants to put a deposit on a new place and he doenst get paid for ages, he doesnt plan on using it to pay for anything other than the deposit and plans to pay it back probably end of next month so just a temporary thing


And thats how all the nice debt starts.
#9
kidcat
http://www.moneysavingexpert.com/cards/best-0-credit-cards#deals

discusses best 0% deals, have to be honest unless you are going to be really strict I would advise against taking one though:)


thanks for the link, i dont like reading for that site it confuses me for some reason ( im dyslexic )

was looking for something thats interest free
#10
the__mayster
And thats how all the nice debt starts.


its gonna be paid off end of the month we've done the calculations and stuff :?
#11
ilovelilac
thanks for the link, i dont like reading for that site it confuses me for some reason ( im dyslexic )

was looking for something thats interest free


To cut a long story short then the top pick was the tesco 0% one which also gives clubcard points too,



The Top Card. 12 months 0% on purchases

The longest deal available is with Tesco's Clubcard Credit Card, which gives a big 12 months interest free on new borrowing, followed by 16.9% APR.

Spending with this also earns you 1 Tesco Clubcard point per £4 you spend
#12
kidcat
To cut a long story short then the top pick was the tesco 0% one which also gives clubcard points too,



The Top Card. 12 months 0% on purchases

The longest deal available is with Tesco's Clubcard Credit Card, which gives a big 12 months interest free on new borrowing, followed by 16.9% APR.

Spending with this also earns you 1 Tesco Clubcard point per £4 you spend


if i get the credit card and pay it off do i still have to use it for 12 months?
#13
ilovelilac
if i get the credit card and pay it off do i still have to use it for 12 months?


No you can cancel it whenever you want usually, its just that you will not pay interest for anything in the first twelve months, :)
#14
Hiya lilac,
There is nothing wrong about credit cards as long as you have the control. If your careful, it can save a few £s as well. Hubby puts everything on his card and pays off end of each month.:thumbsup:
1 Like #15
Credit cards have their uses as long as you know when you will be able to pay them off.
If you can find one which has low interest rate, or even a period of no interest, obviously thats the one to get.
Depends on when the bill is due as to when they start to charge interest. In theory they all give up to one month interest free credit.
#16
so much CC hate on this board! I have only used a CC for every purchase small or large for about 3 years now - never paid any interest or charges and got around £500 back in cashback - thats free money compared to using a debit card before you even get onto the added benefits of the CC card cover for items over a certain amount.

As long as you pay it off EVERY month and know how to spend within your means I'd reccomend everyone gets a CC and only uses that where possible - just bear in mind that if you only pay the minimum payment instead of the complete balance just once or twice a year any cashback benefits will be swallowed up by the high interest charges.
#17
ok thanks for the help guys thats what i was thinking, use a credit card then pay it off asap to avoid paying any extra or any of that APR stuff whatever that means lol

so whats the best one to get at the moment? and cash back i didnt know about too.
#18
Kidcats recommendation of Tescos card looked good to me.
Sounds as if you have the credit card thing sussed lilac, so you can get the best out of having a card:thumbsup:
#19
MAIA
Kidcats recommendation of Tescos card looked good to me.
Sounds as if you have the credit card thing sussed lilac, so you can get the best out of having a card:thumbsup:


ok thanxx

and thanxx kidcat too :)
cant rep atm, will do later :thumbsup::)
#20
yeah I think the tesco one is good - I have the egg money one but I have the old one which gives 1% cashback but they have stopped doing it now - the new one is still 1% cashback but with a £1 a month charge.

There are some good guides here depending on if you want a good cashback card or balance transfer card or a card for a 0% period or whatever.

http://www.moneysavingexpert.com/cards/
#21
Credit cards are ideal if used correctly , not like the plonker I know down the street who got one stopped as he lost his job , so he went to another company and got another ...............ran up 10K of debt on the cards he already had . His bank bailed him out with a consolidation loan after the got a new job . I wouldn't be without mine as most of the time I dont have the cash , but still find the money at the start of each month to pay the card companys . I shopped around a few years ago after one card went up to 15.9% and found a card run by the Co-Op which had an apr of only 11% . Very cheap indeed compaired to the apr on my Barclaycard .So, do a search on the net and shop arround . Having one card may help you out when the readys are a bit tight .
#22
OP, please just make sure you cut up the card after its paid off, its such a temptations to spend with it otherwise.

I have been using mine for petrol to get Airmiles but this thread has made me realise by doing that im spending more with my debit card thinking i have more money than i actually do.....so thanks :)
#23
ricko
Credit cards are ideal if used correctly , not like the plonker I know down the street who got one stopped as he lost his job , so he went to another company and got another ...............ran up 10K of debt on the cards he already had . His bank bailed him out with a consolidation loan after the got a new job . I wouldn't be without mine as most of the time I dont have the cash , but still find the money at the start of each month to pay the card companys . I shopped around a few years ago after one card went up to 15.9% and found a card run by the Co-Op which had an apr of only 11% . Very cheap indeed compaired to the apr on my Barclaycard .So, do a search on the net and shop arround . Having one card may help you out when the readys are a bit tight .


leecher
OP, please just make sure you cut up the card after its paid off, its such a temptations to spend with it otherwise.

I have been using mine for petrol to get Airmiles but this thread has made me realise by doing that im spending more with my debit card thinking i have more money than i actually do.....so thanks :)


thanks guys my OH just wants to use the money for a deposit for next week cos he didnt think he'd be moving in so soon and doesnt have all the money for the deposit for the new flat yet till he gets paid its all temporary stuff, we're not in any debts and dont buy stuff we cant afford :thumbsup:

will have a look at the co-op one too thanks :)


can i ask, can you get cash out with credit cards or just pay by card all the time?
1 Like #24

can i ask, can you get cash out with credit cards or just pay by card all the time?


you can but it's pretty much always a really really bad idea - I'm sure someone will explain better than me soon but from what I remember cash withdrawals & credit card cheques are the 2 big no-no's as much as only paying the minimum payment.

They are treated diferently to purchases somehow but I can't remember why.
#25
At the time I did my search for cheap credit cards I found a site and saved it in a folder , aptly named ..................credit cards . I just looked and its still there ,the site was moneysupermarket dotcom and it found all the current cards with their apr's etc .The Northern Rock card was the best , it was run by the C0-Op but had NR named on the card . There is now no mention of NR on the monthly statement and now has The co-operative bank at the top. There is a still £2.00 monthly charge on the card wether you use it or not but the interest remains the same and is VERY cheap compaired to my other cards .
Yes , you can get cash out as with most cards ,but the interest rate for this is allways higher , best to use it just for purchases and try to pay it off every month .HTH's
#26
worto03
you can but it's pretty much always a really really bad idea - I'm sure someone will explain better than me soon but from what I remember cash withdrawals & credit card cheques are the 2 big no-no's as much as only paying the minimum payment.

They are treated diferently to purchases somehow but I can't remember why.


ricko
At the time I did my search for cheap credit cards I found a site and saved it in a folder , aptly named ..................credit cards . I just looked and its still there ,the site was moneysupermarket dotcom and it found all the current cards with their apr's etc .The Northern Rock card was the best , it was run by the C0-Op but had NR named on the card . There is now no mention of NR on the monthly statement and now has The co-operative bank at the top. There is a still £2.00 monthly charge on the card wether you use it or not but the interest remains the same and is VERY cheap compaired to my other cards .
Yes , you can get cash out as with most cards ,but the interest rate for this is allways higher , best to use it just for purchases and try to pay it off every month .HTH's


ok thanks, will let OH know when he gets back :thumbsup::)

cant rep now will do later :)
#27
worto03
you can but it's pretty much always a really really bad idea - I'm sure someone will explain better than me soon but from what I remember cash withdrawals & credit card cheques are the 2 big no-no's as much as only paying the minimum payment.

They are treated diferently to purchases somehow but I can't remember why.


+1

the handling fees plus interest on cash advances are ridiculous, a big no, but i have done them before in emergencys
#28
i never wanted a credit card but to make sure i'm set up for my first mortgage when i come to get one, i just applied for my first ever credit card today in order to build up a good credit rating. I chose the one on the link below:

http://www.halifax.co.uk/creditcards/easyrate.asp
#29
Smeagol<3sDeagol
+1

the handling fees plus interest on cash advances are ridiculous, a big no, but i have done them before in emergencys


lol thanxx i hope the estate agent accepts cards then if not its pointless :giggle:

hypnoticstate
i never wanted a credit card but to make sure i'm set up for my first mortgage when i come to get one, i just applied for my first ever credit card today in order to build up a good credit rating. I chose the one on the link below:

http://www.halifax.co.uk/creditcards/easyrate.asp


ok thanks will have the look at the link :thumbsup:

edit, does this card have 0% interest at all?
#30
ilovelilac;5891668
lol thanxx i hope the estate agent accepts cards then if not its pointless :giggle:



ok thanks will have the look at the link :thumbsup:

edit, does this card have 0% interest at all?

no, i think it's about 8%. It is Halifax's lowest rate no frills credit card.
#31
hypnoticstate
no, i think it's about 8%. It is Halifax's lowest rate no frills credit card.


ok thanks, think the no interest one would suit better :)
1 Like #32
ilovelilac
lol thanxx i hope the estate agent accepts cards then if not its pointless :giggle:



ok thanks will have the look at the link :thumbsup:

edit, does this card have 0% interest at all?


Just wanted to mention that the estate agents we have been looking at recently do not accept any credit cards, so before you go to hassle of getting a card its probably going to be better to call and check with them, your other option would be to get an overdraft and use that instead.:)
#33
kidcat
Just wanted to mention that the estate agents we have been looking at recently do not accept any credit cards, so before you go to hassle of getting a card its probably going to be better to call and check with them, your other option would be to get an overdraft and use that instead.:)


ok thanxx, meeting up with them tomorrow so i'll ask which payment methods they accept :thumbsup: :)

just gone for this one http://www.halifax.co.uk/creditcards/allinone_OMG.asp?source=1518D8182B171E71
#34
When considering a credit card, go to the Money Saving Expert website here:

http://www.moneysavingexpert.com/cards/

Read it carefully, check out the links that interest you.

It is sound advice. Follow it and you should be OK.

But, as others have said, if you cannot trust yourself to pay off the balance every month, you could be in trouble very very quickly! :shock:
#35
my nationwide credit card had a interest free period when i joined of 3 months

also when i joined lloyds tsb as a sudent accoutn i got a free interest 1500 overdraft, stil use it now

not sure if these are still available in the economic climate though :)
#36
Smeagol<3sDeagol
my nationwide credit card had a interest free period when i joined of 3 months

also when i joined lloyds tsb as a sudent accoutn i got a free interest 1500 overdraft, stil use it now

not sure if these are still available in the economic climate though :)


ok thanks, my bf has applied now we'll see what happen lol
banned#37
I very much doubt an estate agent will take credit cards.

besides, it takes a good couple of weeks to get accepted after application before you receive the card so wont be any good for a deposit before then.
#38
why not get an overdraft? i needed money quick for home improvements and within 24 hours had an overdraft limit of 1000. Its now 1200 and i pay just over 10pound a month interest on the lot!
#39
CuteKitty26
why not get an overdraft? i needed money quick for home improvements and within 24 hours had an overdraft limit of 1000. Its now 1200 and i pay just over 10pound a month interest on the lot!


hes applied for the card now but thanks :thumbsup:

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