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    Sorry if this is stupid but - do you have to pay for credit cards?

    I am 18 and thinking of trying to get one for emergencies or for added security when purchasing online, just want to know if there are any extra costs ?

    Thanks

    38 Comments

    Not if you pay the balance when you get the bill

    Only get a credit card if you can afford to pay off the balance each month and are sensible.

    At 18 I wouldn't..........(_;)

    Original Poster

    I am deffo not planning on buying something i can't afford, I am just thinking of using it to buy something I could of afforded anyway, but just for more security and to build up a credit rating

    Don't do it...you ll be miserable for the rest of your days if you are not extremely careful

    james_lfc

    I am deffo not planning on buying something i can't afford, I am just … I am deffo not planning on buying something i can't afford, I am just thinking of using it to buy something I could of afforded anyway, but just for more security and to build up a credit rating



    Good idea.

    Go for it, having responsibilities at a young age will only serve you well. It did for me anyway.

    I would recommend getting one if you can trust yourself to use it only when necessary.
    Lots of companies have good offers, but will not really apply (ie balance transfers). Look at using a card you will get one of the other benefits from. I have a Play.com card. After using it for so much I get money off vouchers to use at Play. Amazon do one and Tesco do to.
    I find it good to use online, because if you use a debit card and get screwed by online fraud it comes out of your bank account. You usually get it back, but it does take a while.

    james_lfc

    I am deffo not planning on buying something i can't afford, I am just … I am deffo not planning on buying something i can't afford, I am just thinking of using it to buy something I could of afforded anyway, but just for more security and to build up a credit rating



    Good plan, as long as you ensure you pay stuff off right away - rather than waiting to get the most of the interest free period. That way you can be sure not to miss the payment.

    Essential for building up a good credit history, just use it wisely and only buy it if you can afford to pay the full balance on time.

    Some cards have an annual fee, most don't. The way the companies make their money is if you spend on the card and don't pay the balance in full each month, then they can charge interest.

    Your best bet if you get a card is to pay off whatever you've spent on it straight away (easiest to do it online) and don't let the balance accumulate. Also take a low credit limit (say up to £1k), that way you can't have a balance of greater than that anyway...

    There probably is some cards that have an annual fee or something so keep away from those. As some have already said, always pay balance in full. They do keep in useful at times and sometimes you need a credit card to pay a certain way or to get access to something.

    saayinla

    Don't do it...you ll be miserable for the rest of your days if you are … Don't do it...you ll be miserable for the rest of your days if you are not extremely careful



    No, you will be miserable if you are foolish and buy things you cannot afford; use it wisely on things you can afford, pay the balances off (and always make sure you set up a direct debit for the minimum payment just incase you forget or can't afford to one month) and you will build a good credit rating, very useful to have when it comes to getting a mortgage or necessary loans in the future.

    Its not about being 'extremely careful', more about not being extremely careless.

    Be careful, as some cc companies are now introducing charges if you don't use the card! Also, if you pay back more than you owe! Make sure you read the small print, or go in to a bank and ask specific questions before applying.

    Yeah it's a good idea! I have s credit card and if came in useful when my car broke and I couldn't afford the repairs! Set up a direct debit too! That way you never miss a payment and get charged interest! So long as you can trust yourself with it!

    Yeah it's a good idea! I have s credit card and if came in useful when my car broke and I couldn't afford the repairs! Set up a direct debit too! That way you never miss a payment and get charged interest! So long as you can trust yourself with it!

    That's what I done when I turned 18, got a credit card to build up my credit rating & paid the balance on time & now my credit rating is excellent

    livingthelife07

    That's what I done when I turned 18, got a credit card to build up my … That's what I done when I turned 18, got a credit card to build up my credit rating & paid the balance on time & now my credit rating is excellent


    Exactly the same here. Go for it if you can be diciplined and pay it in full on time every month.

    I found out the hard way
    It always starts that you are not going to spend on it but then it becomes too easy to buy and not pay off
    then you end up 20 grand in depts and loans like i did
    still paying things off and iam 34
    Not saying this will happen to you but just be careful
    Edited by: "djnaff" 11th Apr 2011

    djnaff

    I found out the hard way It always starts that you are not going to spend … I found out the hard way It always starts that you are not going to spend on it but then it becomes too easy to buy and not pay offthen you end up 20 grand in depts and loans like i didstill paying things off and iam 34Not saying this will happen to you but just be careful



    lol you mug

    choc1969

    Only get a credit card if you can afford to pay off the balance each … Only get a credit card if you can afford to pay off the balance each month and are sensible.At 18 I wouldn't..........(_;)



    i agree with the above to a point. Only get a credit card if you intend to pay off the balance every month. In fact, if i was you i would pay off the balance as soon as i have purchansed the item. I know it may sound silly but trust me you can get in to deep water very quickly!

    With that said, it seems you only want to use to to buy things you already would with your debit card, however, observe caution and pay off the balance at the end of the day.

    djnaff

    I found out the hard way It always starts that you are not going to spend … I found out the hard way It always starts that you are not going to spend on it but then it becomes too easy to buy and not pay offthen you end up 20 grand in depts and loans like i didstill paying things off and iam 34Not saying this will happen to you but just be careful



    Some people are just no good with money,it baffles me because i'm not like that,but for some it's so easy to spend on the CC and not pay it off.

    I know of someone in a similar position,CC debts approximately 10 grand.

    They didn't have Direct Debits set up and were always forgetting to pay the minimum every month so then they were hit with late charges as well.

    Unbelievably to me they didn't even know what interest rate they were paying

    I've seen it loads of time before debz some people think its like free money cos they only have to pay back 5 or 10 a month...oh lawd.

    Also when chavs go round buying big tvs laptops etc cos they can get it on the 'never never' what inbred **** lol

    I have worked hard to pay off my dept down to just under 3 grand now
    but I am £300 a month out of pocket each month just as my job is going down the tube on silly dept that I nothing really to show for now.
    Yes it was silly and dumb but it was just too easy at the time.
    I dont see what it has to do with being a chav has to do with anything lots of people have dept Average household debt in the UK is ~ £8,428 (excluding mortgages)
    just seems like some troll comment

    djnaff

    I have worked hard to pay off my dept down to just under 3 grand now but … I have worked hard to pay off my dept down to just under 3 grand now but I am £300 a month out of pocket each month just as my job is going down the tube on silly dept that I nothing really to show for now.Yes it was silly and dumb but it was just too easy at the time.I dont see what it has to do with being a chav has to do with anything lots of people have dept Average household debt in the UK is ~ £8,428 (excluding mortgages) just seems like some troll comment



    You dont need to get into debt though, just afford what you can. Like people who say they have no money and are in debt, yet get take aways, sky tv etc.

    If you drive then what I did, is just used the credit card to put fuel in then pay that balance, great way to build up your credit rating

    Set up a direct debit to pay off the full amount every month, then you cannot forget to pay it and accrue ridiculous amounts of interest.
    It's a good idea to get one if you are doing online purchasing, and if you go for a credit card like the Tesco Credit Card then you get clubcard points every time you spend which is a nice little bonus.

    Your nickname sums up exactly what you are but put perhaps more mildly than I'd like.

    numptyj

    I've seen it loads of time before debz some people think its like free … I've seen it loads of time before debz some people think its like free money cos they only have to pay back 5 or 10 a month...oh lawd.Also when chavs go round buying big tvs laptops etc cos they can get it on the 'never never' what inbred **** lol


    DAZZ2000

    Your nickname sums up exactly what you are but put perhaps more mildly … Your nickname sums up exactly what you are but put perhaps more mildly than I'd like.



    im a numpty because Ive seen so many times people buying stuff they cant actually afford and then when the bills comes in at 30%+ APR and the culprits are like WUT? WUT iz dis bill for I fort dis stuff waz free.

    Edited by: "numptyj" 11th Apr 2011

    If you're going for one with the intentions you just mentioned you will be fine. Avoid missing payments by setting up a direct debit and preferably pay off in full each month. If you do pay off each month it then pays to get a cashback credit card where they pay you a small percentage back on everything you spend.
    Also don't forget that many cards offer an additional chunk of cash back for applying through cash-back sites like Quidco.
    I took the American Express Cashback Platinum card via Quidco and got paid £50 for taking it and a further 5% for everything spent on it during first 3 months.
    The only caveat here is use it wisely and don't spend more than you can comfortably pay off.

    james_lfc

    I am deffo not planning on buying something i can't afford, I am just … I am deffo not planning on buying something i can't afford, I am just thinking of using it to buy something I could of afforded anyway, but just for more security and to build up a credit rating


    The logic regarding not abusing credit cards is sound but you're coming across like an aspiring Chav school-kid who writes like they text their mates under the table in class.

    numptyj

    im a numpty because Ive seen so many times people buying stuff they cant … im a numpty because Ive seen so many times people buying stuff they cant actually afford and then when the bills comes in at 30%+ APR and the culprits are like WUT? WUT iz dis bill for I fort dis stuff waz free.


    DAZZ2000

    The logic regarding not abusing credit cards is sound but you're coming … The logic regarding not abusing credit cards is sound but you're coming across like an aspiring Chav school-kid who writes like they text their mates under the table in class.



    wut u evn torking bout?!

    You're a bit of a Meercat aren't you numpty!

    I thinking of getting a credit card to build up my credit rating. Not to keen on them though.

    Was thinking of getting a 1k loan and paying it off in 6 months. Wana get some work to my car done.
    Would this improve my credit rating, or would it be better getting a credit card?

    Chidda

    I thinking of getting a credit card to build up my credit rating. Not to … I thinking of getting a credit card to build up my credit rating. Not to keen on them though.Was thinking of getting a 1k loan and paying it off in 6 months. Wana get some work to my car done.Would this improve my credit rating, or would it be better getting a credit card?



    A credit card would be probably be better for credit rating as each payment is registered and they are monitored by all the credit-reference agencies.

    dcx_badass

    All you did then was summed up your own stupidity.



    Stupid, maybe, but very easy to do. If you pay back only the minimum payment then all you are doing is paying back interest, and not reducing the amount owed. Borrow too much & pay back only the minimum & the total owed will go up each month!
    As I said, stupid, but an easy trap to fall in to.

    Banned

    Last year i had enough so i went to ground cut a few luxuries and paid off £8500 in a year.

    Now i will never spend on a card again. If i dont have the cash i dont buy it, simple.

    If i could offer any advice it would be dont get one. If you must then take advantage of the 0% deals like i did. I have never paid interest on a credit card

    If you want a credit card to build your personal credit rating, there are credit cards specifically designed for this purpose, they're called credit builder credit cards funnily enough!

    Or there's bad credit credit cards for people who have no credit history, the interest is normally high but as long as you off your balances in full you should be fine, the limits on them are low too so you won't overspend.

    Banned

    civms47

    Some cards have an annual fee, most don't. The way the companies make … Some cards have an annual fee, most don't. The way the companies make their money is if you spend on the card and don't pay the balance in full each month, then they can charge interest. Your best bet if you get a card is to pay off whatever you've spent on it straight away (easiest to do it online) and don't let the balance accumulate. Also take a low credit limit (say up to £1k), that way you can't have a balance of greater than that anyway...


    some ven pay you for having one!

    Capital One send me £10 every year yet I havent even used the card in 4 years!
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