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First Credit Card - What should I be looking for

doritos Avatar
6y, 2w agoPosted 6 years, 2 weeks ago
Hi all,

I have never owned a Credit Card before, I have never needed one.
But as things are moving on in my life I need to build up credit rating.

As from what I have heard, having no credit rating is as bad as having poor credit rating.

So..

What should I look out for?

All I really want a credit card for is, to pay for petrol once a week, a relatively low amount to help build up some credit.

Any help is appreciated.

Regards
doritos Avatar
6y, 2w agoPosted 6 years, 2 weeks ago
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1 Like #1
Go to your bank, and get one linked into your account :)
#2
If you intend to pay it off in full every month then look for one with the best rewards. I use the tesco one for the points. I use it as i would my debit card, only spending what i've got, and have it set up to pay the full amount, automatically, every month.
#3
+1 for the Tesco card, worth about 1% to you, or 2% when used in store. Extra bonuses if you're filling up with Tesco petrol too.

Ensure you set up a direct debit to pay at least the minimum payment each month as late fees are extortionate. Ideally, set it up to pay the full amount so no accidents with paying interest.
banned 1 Like #5
ro53ben
+1 for the Tesco card, worth about 1% to you, or 2% when used in store. Extra bonuses if you're filling up with Tesco petrol too.

Ensure you set up a direct debit to pay at least the minimum payment each month as late fees are extortionate. Ideally, set it up to pay the full amount so no accidents with paying interest.

how did you work that out? its now only 1 point for every £4 spend. Its a pretty crap cashback card these days (although I still use mine).

I would go for (and did years ago) the Capital One cashback card.

1% cashback on all purchases. Also receive an extra £10 cashback every January.

I havent used mine in years but every January they give me £10. Nice :)
#6
csiman

how did you work that out? its now only 1 point for every £4 spend. Its a pretty crap cashback card these days (although I still use mine).

I would go for (and did years ago) the Capital One cashback card.

1% cashback on all purchases. Also receive an extra £10 cashback every January.

I havent used mine in years but every January they give me £10. Nice :)


Woah, when did that change? If that is case, I stand corrected. Need to check my T's&C's when I get a moment. Certainly seems to be the case for the new "Clubcard Credit Card" but I don't have one of those, I have the Finest one.

I think I'll start using my John Lewis card a bit more then, get vouchers for Ocado.

Capital One looks a good deal, I just can't stand the company or their practices.
#7
Having a credit card puts a footprint on your credit file but you dont have to use it. My advice is to have a scout around the net for any that give some perks but be aware that some cards charge an annual fee. Steer clear of those. If its only to boost your credit score as you say, you should cut it up when you get it, if you dont need to use it. It is all to easy to get in debt with them.
1 Like #8
If it is a first credit card, it will be a case of taking what you can get.

Just be sure to keep on the right side of things once you have one and then you will have more choice.
banned#9
ro53ben
csiman

how did you work that out? its now only 1 point for every £4 spend. Its a pretty crap cashback card these days (although I still use mine).

I would go for (and did years ago) the Capital One cashback card.

1% cashback on all purchases. Also receive an extra £10 cashback every January.

I havent used mine in years but every January they give me £10. Nice :)


Woah, when did that change? If that is case, I stand corrected. Need to check my T's&C's when I get a moment. Certainly seems to be the case for the new "Clubcard Credit Card" but I don't have one of those, I have the Finest one.

I think I'll start using my John Lewis card a bit more then, get vouchers for Ocado.

Capital One looks a good deal, I just can't stand the company or their practices.

changed about 6 months ago but notice came as a flyer in with a statement so pretty underhand

plus with only 3x exchange for vouchers, it only works out to be 0.75p cashback per £1 spend and thats if you can find a deal at 3x exchange you want.
#10
csiman

changed about 6 months ago but notice came as a flyer in with a statement so pretty underhand

plus with only 3x exchange for vouchers, it only works out to be 0.75p cashback per £1 spend and thats if you can find a deal at 3x exchange you want.


Even worse when you don't even have printed statements - I do all mine online so I don't believe I was notified at all.

Been looking for an excuse to be completely rid of Tesco for a while. The shop was always pretty useless which is why we switched to Ocado, but I kept the card as the deals were still good. No more, it seems, so time to move on completely.

Bye, bye Tesco, it was...um...ok...sometimes.
banned#11
ro53ben
csiman

changed about 6 months ago but notice came as a flyer in with a statement so pretty underhand

plus with only 3x exchange for vouchers, it only works out to be 0.75p cashback per £1 spend and thats if you can find a deal at 3x exchange you want.



Even worse when you don't even have printed statements - I do all mine online so I don't believe I was notified at all.

Been looking for an excuse to be completely rid of Tesco for a while. The shop was always pretty useless which is why we switched to Ocado, but I kept the card as the deals were still good. No more, it seems, so time to move on completely.

Bye, bye Tesco, it was...um...ok...sometimes.

I used to have online statements but when I need an original for a KISS flight refund claim, they wanted £15 for the privilege.

Kicked up a stink and got it for free and now get all statements sent to me.

Edited By: csiman on Nov 19, 2010 11:58
#12
My first credit card was with morgan stanley..taken on my brothers advice as I wanted to purchase an expensive laptop. I'd previously had a bad experience with student debt and promised myself I'd never get into that sort of debt again .. Anyway everything I bought till then was for cash .. If I didn't have the money then I didn't buy . simpe! Anyway I wanted to get an alienware laptop , cost £2000 and was gonna make a cash payment for it , my brother advised using a credit card for it as I'd have better protection. I applied for a MStanley card which I duly paid for the laptop on and promptly paid back off & forgot about it. The laptop started misbehaving after 6 months & had to be returned several times over an 18 month period. I got fed up eventually and asked for my money back & was politely informed that was not possible , not even a brand new replacement.. I got onto MS who had just been taken over by Barclaycard and invoked section 75 of the consumer credit act which protects the consumer for 6 years for purchases over £100 but less than £30000. I got all my money back!
..I''m much older , hopefully wiser I'd like to think.. and would never blow that sort of money again. Anyway my moral is never to use the credit card unnecessarily but certainly for a large and hopefully wise purchase you have extra protection as there is joint ( vendor/ CC ) liability.

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