Spec me a credit card

Aloreth

Aloreth

Aloreth

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16 Aug 2005
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So I have hated the idea of credit cards for a long time (lots of friends have gotten into trouble with them) however i have recently started to reconsider my position due to the added secuity of online purchases. Also I think it will be easier to keep tabs on how much I am spending in a given month!

I was wondering if anyone had any suggestions? Any cards better/worse than others? If you have a credit card could you giev me a brif overview of its online functionality (not buying but viewing transactions) I have an excellant credit rating and a decent job

Cheers!

Mike
 
If you pay off your bill promptly and in full, and dont incur monthly charges, it doesn't really make much difference. All you're then looking for is perks and added bonuses, like air miles or Nectar points etc.
 
Sorry to Hi-jack, but i'm also thinking of getting my first credit card (for online purchases only)

It will just replace my debit card and i'll pay it off after I make the transaction. Can I just pay online with my bank's online e-banking account?
 
lolism said:
Sorry to Hi-jack, but i'm also thinking of getting my first credit card (for online purchases only)

It will just replace my debit card and i'll pay it off after I make the transaction. Can I just pay online with my bank's online e-banking account?
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I do, NatWest.
 
Aloreth said:
I have an excellant credit rating and a decent job
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Oddly enough you build up an excellent credit rating by borrowing cash and paying it back in a timely fashion. If you've never borrowed anything in the past you won't actually have a good credit rating. You'll have no problems getting a credit card of course - I'd echo the above comments about Egg. Lots of online functionality and I've had no problems with them at all.
 
mulpsmebeauty said:
Oddly enough you build up an excellent credit rating by borrowing cash and paying it back in a timely fashion. If you've never borrowed anything in the past you won't actually have a good credit rating. You'll have no problems getting a credit card of course - I'd echo the above comments about Egg. Lots of online functionality and I've had no problems with them at all.
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I work for an Asset Management company, one of the perks being that I can check my credit rating....not sure why its good, the only debt i have is my student loan...Hmmm
 
If you have a good enough credit rating, go for a card that gives you cash back on purchases. It's one of the few perks that make sense.

Make sure you set up a direct debit to pay off your balance in full every month and you'll be fine. However - if you do this, make sure you actually pay your first month off (ie phone up and do it), because some CC companies will scam you by taking 6 weeks to set up your direct debits, thereby making you incur charges on the first months credit.

mulpsmebeauty said:
Oddly enough you build up an excellent credit rating by borrowing cash and paying it back in a timely fashion. If you've never borrowed anything in the past you won't actually have a good credit rating.
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It's not odd at all. If you borrow credit, which is essentially what a loan is, and pay it off at the agreed terms without missing a payment, you are showing that you can responsibly pay back what you borrow. People don't always borrow because they can't afford something, credit makes perfect sense for several other reasons.

Whilst it may not be fair that people with lots of money and no borrowing don't have good credit scores, it's obvious why. There's no repayment history, good or bad.
 
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Egg are useless at dealing with unauthorised transactions in my expierence, but the fact that it's all online, the don't upgrade me, or continually increase my credit limit, and I don't have to remember to pay it far outweighs the grief I had with them.

Unlike Barclaycard, MBNA and Capital One who I will never ever touch again if I have any say in the matter.
 
lolism said:
Thanks :D I'll check it when I get home, how does it work?
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When you normally click on a link on a website to go another website, then the first website gets a referrer's fee. Quidco take that fee and give it back to you, minus a one off £5 admin fee. e.g. So, if you were on a financial analysis website, and you clicked on a egg advert, and that click resulted in you taking the card, egg would normally pay the financial analysis website £35. Under quidco, you get the money :D

All you have to do is register with quidco, and click through them when you want to use one of the merchants you get cashback from. I've nearly made a ton from it so far ;)
 
Many many options.

Visit moneysavingexpert.com and see what suits you.

If you can pay off the balance in full each month then go for the capital one cashback card. 4% cashback on all purchases for the first 3 months then 1% thereafter. I have one of these that I use instead of my company credit card when away on business. I pay my hotel bills with it then claim the bill back from the company via expenses. Makes for a nice little earner.

If you cannot pay it back each month then go for one that gives you the lowest interest rate for the longest time. I think HSBC are doing a 12 month 0% interest on purchases offer at the moment.

Hope this helps!
 
melbourne720 said:
When you normally click on a link on a website to go another website, then the first website gets a referrer's fee. Quidco take that fee and give it back to you, minus a one off £5 admin fee. e.g. So, if you were on a financial analysis website, and you clicked on a egg advert, and that click resulted in you taking the card, egg would normally pay the financial analysis website £35. Under quidco, you get the money :D

All you have to do is register with quidco, and click through them when you want to use one of the merchants you get cashback from. I've nearly made a ton from it so far ;)
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Nice! Once again, thanks for the link :cool:
 
The best credit card is no credit card.

Seriously, if you don't absolutely need the money, don't get one. You'll end up paying back more than you borrowed - sometimes by huge amounts.

Debit cards for the win.
 
I use the Amex Platinum credit card , between 0.5 and 1.5 % cashback, by putting most of your regular stuff on it you can build a nice little bonus up over the year
 
Lysander said:
The best credit card is no credit card.

Seriously, if you don't absolutely need the money, don't get one. You'll end up paying back more than you borrowed - sometimes by huge amounts.

Debit cards for the win.
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What a nonsense thing to say. I don't "need" the money, but I benefit from the interest gained on leaving money in my account for a month longer. Furthermore, I get cash back on purchases I make, and have the added security credit card companies afford their customers for online purchases.

Credit is not a bad thing, it just has a bad image because of irresponsible lenders extending credit to those in debt to make a quick buck.
 
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