Credit Cards
- Thread starter Phate
- Start date
one thing it offers is security when buying online
having a credit card does not mean you can't manage your money, it's just having your eggs in more than one basket
just be sure to count the eggs
No, it's a bad thing. Your current account might be reporting to the credit reference agencies, but when you want to borrow money in the future, not having done so before puts you in a bad standing as they can't tell what type of risk you are.
For example, Capital One's idea of an 'excellent' credit rating is on the surface:
* I have a credit card with a credit limit of at least £5000
* I have had a credit card(s) for at least 5 years
* I have never missed more than 2 payments on a credit card or loan
* I have credit card balances of less than £10,000
* I don't have any previous credit defaults (CCJs, current arrears)
For example, Capital One's idea of an 'excellent' credit rating is on the surface:
* I have a credit card with a credit limit of at least £5000
* I have had a credit card(s) for at least 5 years
* I have never missed more than 2 payments on a credit card or loan
* I have credit card balances of less than £10,000
* I don't have any previous credit defaults (CCJs, current arrears)
Is that a good thing though? I have never needed to borrowed money, so surely this puts me in a good standing?
This shell card sounds like a cracking idea for when I start using Vpower in a worthy car
when you come to buy a house it'll count the most
Let's break down what that's worth...
Travel insurance - £40 perhaps? I think my annual cover is less than this
AA membership - £35 - £17 quidco cashback in the first year (you only get the most basic cover unless you pay £25 a month it appears)
Mobile cover - Never bothered to insure a mobile phone but I think they're covered under the home contents insurance
So... a grand total of maybe £70 + the mobile cover of 'benefit'. Great.
[TW]Fox;12829342 said:
That may be so, but it depends whether I go for these offers or not....which if it results in them having more money I don't.
Here we go again, the thread was started originally to ask about credit cards, what was your first reply to me...from what I can see, nothing to do with the original question, so straight away you have taken the thread more off subject. Regardless of whether or not other people have replied to the original topic 99% of the time it is guaranteed that you will post something to change the general course of the conversation - I'm not saying I'm right, I'm trying to keep the thread on its original course, which when people such as you continue to try and drive a point which clearly isn't anything to do with the original question becomes increasingly difficult. I have to ask, WHY?
Not at all, If I had started the thread saying "I pay £15 a month to a bank to make sure my finances are in order can anyone advise a better way of doing this" then the replies would have been welcomed.
I wasn't being funny about it, I was hoping he owuld point out what other benefits he gets so it justifies to all the haters of paying £15 a month what extra stuff he gets and he isn't just paying £15 for a sales meeting with the bank every month.
Believe it or not, we're trying to help you by stopping you waste a fortune every month on something totally pointless
But it might not be pointless to him.
EDIT: unless of course he just pays £15 a month for nothing extra, then yes it is a waste of money.
Problem there is many places aren't accepting AMEX any more due to the ridiculous charges.
You might struggle to get approved for a Shell card, worth a try though
And there's no way you'll get an Amex card with virtually no credit history!
Might need to go for something 'sub prime' initially with a silly APR (just don't borrow on it!) - Halifax Standard, Capital One Classic, Barclaycard Initial for example.
Actually Amex acceptance is improving all the time, not getting worse - I have a company provided Amex card and have few problems using it where I need to. All the major supermarkets, petrol stations, high street stores accept it.
And there's no way you'll get an Amex card with virtually no credit history!
Might need to go for something 'sub prime' initially with a silly APR (just don't borrow on it!) - Halifax Standard, Capital One Classic, Barclaycard Initial for example.
Actually Amex acceptance is improving all the time, not getting worse - I have a company provided Amex card and have few problems using it where I need to. All the major supermarkets, petrol stations, high street stores accept it.
![[TW]Fox](/data/man-of-honor/2009.png){kind=avatar}
Given that its abundantly clear you don't understand how banks work I've no idea how you'd tell which things they offer you will make them more money (Hint, if he opens his mouth, his recommendation makes them more money) or not.
I mean come on, was this not a giveaway?
Because it's painful watching you post 8 billion 'what my life is doing this week' threads each containing so much blatantly obvious fail which could so easily be corrected and you could see easily be better off as a result of listening to what people who know better than you - Olly for example has huge knowledge of financial services products - have to say rather than berating them for being off topic.
But you'd never ask this because you genuinelly beleive that its the best way of doing things. Therefore the only chance we have to save you from a lifetime of boneheaded decisions is in threads like this
Believe it or not, we're trying to help you by stopping you waste a fortune every month on something totally pointless
This I fully appreciate, and I'm grateful for, but right now £15 isn't an issue of concern.
I put everything on a credit card, I wouldn't take the risk using my debit card (had it cloned once already) and a few guys at work had money taken from their accounts last year, turned out to be the local petrol station that skimmed them. I put about £1000 pm of expenses on my cc for work so the (competitor) gift vouchers are nice every couple of months.
Its a Halifax card.
Its a Halifax card.
So if you are flush why the debt paranoia?
[TW]Fox;12829553 said:
I don't like the idea of borrowing money off my folks to pay my bills.
Can you start giving me £15 a month then?
If you want to spend how ever much in fuel coming to get it, sure