Credit Card

doodah

doodah

doodah

Caporegime
Joined
18 Oct 2002
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London
I would like to think of my self "ok" with my money. I am 23 and about to start a new job in July (once i have graduated) and thought it might be time to apply for a credit card. Quite a few people say it is a good idea to get one and pay with it for things you can afford straight away such as tickets etc. Therefore your credit rating will start to go up, i don't really want it (yet) for things i cannot afford. Worth it or not?
 
Yes, credit cards are worth it just for there fraud protection. However get them to reduce your limit to something £200 unless you're very good with money.
 
Yeah definitely, just sort out a direct debit from your bank account every month and it won't cost you a penny. Some also give you cashback or airmiles every time you buy things like the Sony Card.
 
Yeah would probably set the limit to something low. In terms of which, this is where I no squat. Currently have a Barlcays account (debit card). Anyone got a Barclaycard OnePulse CC (was looking at the Oyster card thread)? Who offers good rates for a soon to become graduated student?
 
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dbappa said:
Yeah would probably set the limit to something low. In terms of which, this is where I no squat. Currently have a Barlcays account (debit card). Anyone got a Barclaycard OnePulse CC (was looking at the Oyster card thread)? Who offers good rates for a soon to become graduated student?
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I have a onepulse card and I think it's great. I've only encountered a few shops in the city that allow payments via visa paywave (krispy kreme and the japanese canteen) and even then it's not as quick as they make it out to be. With oyster added on top you don't have to carry as many cards in your wallet as well.
 
we use a tesco credit card, linked in with our tesco clubcard and the points we get are great. We convert them into vouchers and have a couple of meals out a month on them.
 
I've got my own Natwest CC which doesn't get me anything and only rarely gets used for small things to boost my rating. Got a joint M&S CC with my dad, that gets us vouchers for there to buy yummy food with.
 
It's a good idea, but unless your limit is low it'll take a lot of will power :)

I went with the Post Office credit card cos I got some cashback for signing up and it's got 0% on purchases abroad which is really handy (I hate travelers cheques).
 
To the people saying that they have no willpower and that you should set your credit limit really low... I don't really understand this!

I've got cards in my wallet with combined limits of probably well over £30k, plus 2 business charge cards which technically don't have a limit and yet I still manage to clear them in full every month ;)

Just don't treat the limit as some kind of target you need to hit and remember that it IS your money you're spending.
 
OllyM said:
To the people saying that they have no willpower and that you should set your credit limit really low... I don't really understand this!

I've got cards in my wallet with combined limits of probably well over £30k, plus 2 business charge cards which technically don't have a limit and yet I still manage to clear them in full every month ;)

Just don't treat the limit as some kind of target you need to hit and remember that it IS your money you're spending.
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This would be his first credit card, it makes sense to be cautious. One persons will power is not another persons will power.

That's sound advice though, it IS your money you're spending ;)
 
Get a credit card you can manage online - my Tesco one is the only one that's ever let me do that, which is handy for keeping tabs on how much I've spent!
 
set up a DD and just treat it as a debit card, speaking of which i should really sort myself out with one for credit rating goodness
 
Kami said:
Get a credit card you can manage online - my Tesco one is the only one that's ever let me do that, which is handy for keeping tabs on how much I've spent!
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All of mine can be managed online, some are worse than others.

HSBC's online access is terrible, as well as Citibank's. Capital One and American Express are quite good now they've been redesigned, and Egg's is too. Halifax and MBNA are acceptable, Natwest integrates with online banking which is handy. Not hugely keen on Nationwide or Barclaycard but they do the job.
 
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do HSBCs credit cards use a different online system to its banking, its not perfect, but i get on fine with HSBC online banking
 
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