Can anyone advise me on Credit Cards?

[[TW]Fox]

Totally confused now with which credit card to go for lol!

It doesn't really matter if you intend to pay it off every month in full and not deviate from this.

Here are some recommendations from me.

Nationwide Classic Mastercard - Register an electrical item within 60 days and get an extended warranty. It does exclude stuff like iPhones, though. Read the small print then you wont offer to buy the girlfriend an iPhone on your card because it'll get a super warranty like I did

Halifax Clarity - Best possible card for foreign spending.

BMI Amex card - if you spend a certain amount - I think its 500 quid - within 3 months, you get enough BMI frequent flyer miles to qualify for a free return flight (Though you pay taxes). CHECK THE SMALL PRINT as Amex tends to be a pain to get and probably has a salary requirement.

 

[Nitrojan]

It doesn't really matter if you intend to pay it off every month in full and not deviate from this.

Here are some recommendations from me.

Nationwide Classic Mastercard - Register an electrical item within 60 days and get an extended warranty. It does exclude stuff like iPhones, though. Read the small print then you wont offer to buy the girlfriend an iPhone on your card because it'll get a super warranty like I did

Halifax Clarity - Best possible card for foreign spending.

BMI Amex card - if you spend a certain amount - I think its 500 quid - within 3 months, you get enough BMI frequent flyer miles to qualify for a free return flight (Though you pay taxes). CHECK THE SMALL PRINT as Amex tends to be a pain to get and probably has a salary requirement.

Thanks!

 

[Nitrojan]

Virgin Credit Card looks pretty good - Link

Anyone got one?

 

[[TW]Fox]

What appeals to you about that particular card?

 

[Nitrojan]

What appeals to you about that particular card?

- 10% off Virgin Holidays
- Save when buying TV/Broadband/Phone/Mobile
- 10% off Virgin Wines
- 1 Month Free at Virgin Active
- Up to 20% off Virgin Experience Days
- 10% off VIE Home
- Up to 10% off Virgin Holiday Cruises
- Half Price Virgin Balloon Flights

Just seems to have a lot more 'enjoyable' perks to it.. I dunno. But obviously I don't want to tie myself into something that I don't really know much about that could potentially be a con!

 

[DB_SamX]

Amazon Mastercard is a good one for loyalty points, and you get a voucher when you sign up too, £15 I think.
I also have an Amex Cashback, but I think there is a minimum salary requirement.

 

[Berserker]

Virgin Credit Card looks pretty good - Link

Anyone got one?

If you follow Fox's advice, it's OK but nothing special. APR is typical but irrelevant if you're repaying in full, interest free period is good, but not the best. 0% on balance transfers is irrelevant as you don't have any. 0% on purchases is far from the best available, but also irrelevant if you repay in full.

I'm the 'squashed fruit' Fox referred to by the way, yet I still agree. Spent about £75k before I came to my senses, on top of my mortgage. Luckily I have the means to repay it, though I'll be doing so for the next ten years (including the mortgage).

By all means get the card - it's a good idea to have a decent credit score and some 'history' behind you - but at the first sign of debt, cut it up - you're too young to have debt hanging over your head.

 

[[TW]Fox]

- 10% off Virgin Holidays
- Save when buying TV/Broadband/Phone/Mobile
- 10% off Virgin Wines
- 1 Month Free at Virgin Active
- Up to 20% off Virgin Experience Days
- 10% off VIE Home
- Up to 10% off Virgin Holiday Cruises
- Half Price Virgin Balloon Flights

Just seems to have a lot more 'enjoyable' perks to it.. I dunno. But obviously I don't want to tie myself into something that I don't really know much about that could potentially be a con!

Are you actually going to buy any of that sutff? Probably not..

 

[Nitrojan]

Are you actually going to buy any of that sutff? Probably not..

But the on the other end of the scale.. Many of the loyalty schemes require you to spend an absolute fortune to even qualify for a £10 gift voucher! Hmm lol

 

[Leesolo]

tbh, your credit rating covers allot more than having a CC, but if you want to get one, then check one of the money comparison sites and the reputable ones give good free impartial advice and all the info you could wish for on each card and typical apr ect ect. Sorry if this has been said just skimmed prev posts. But if you find it hard getting one, your local branch of your existing bank are the best place to go as they can see how you operate your accounts therefore judging your financial savvy.

 

[Tetsujin]

I can only echo everything Fox's said (as I usually do in my head, if not in "print"). Even from your initial post you seem pretty sensible so it sounds like a good idea to me. I got my first one before I went to uni, circumstances got the better of me as times were harsh and I ended up taking a while to pay it off, but hey ho.

Plus, even with best intentions, if you do get in a bit of a pickle, this blingwad (despite the amateur-looking garish website) has plenty of advice to help sort yourself out. 0% balance transfers and such can still make a bad situation manageable.

 

[smr]

No, I've not.



Thats a shame, but please don't assume everyone was as underdeveloped as you were at 18. Many of us had credit cards at 18 - I did - with zero issues. The OP is asking all the right questions and is showing zero signs of being unable to cope with something as disasterously simple as a credit card.



So that means nobody should get one and they are the spawn of satan?

Yea, right.

But er... it's not about me.... it's about teenagers delving into money matters.

I'm using myself as an example. Do you know the OP personally then? Have you known him for a long time - or are you going to just judge his whole personality and complete mindset from a post on an Internet forum?

All I am doing is giving cautious advice, nothing magligned, or out to upset anyone.

There must be plenty of "underdeveloped" people walking down the high street considering how debt ridden this country is.

Just look at how many people applied to the banks to reclaim charges. Thousands of people from this forum alone. Are they all "under developed" as well then... for going over their overdrafts and being charged for it ?

If you can't see the point I am trying to get across then I give up.

To date, the UK's personal debt totals close to £1.5 trillion, incase you didn't know.

 

[[TW]Fox]

But er... it's not about me.... it's about teenagers delving into money matters.

It's about you, aged 18.

All I am doing is giving cautious advice, nothing magligned, or out to upset anyone.

Really?

Spawn of Satan.

Perhaps not.

There must be plenty of "underdeveloped" people walking down the high street considering how debt ridden this country is.

There are.

To date, the UK's personal debt totals close to £1.5 trillion, incase you didn't know.

Where is the debt when you clear the balance every month?

 

[Nitrojan]

But er... it's not about me.... it's about teenagers delving into money matters.

I'm using myself as an example. Do you know the OP personally then? Have you known him for a long time - or are you going to just judge his whole personality and complete mindset from a post on an Internet forum?

All I am doing is giving cautious advice, nothing magligned, or out to upset anyone.

There must be plenty of "underdeveloped" people walking down the high street considering how debt ridden this country is.

Just look at how many people applied to the banks to reclaim charges. Thousands of people from this forum alone. Are they all "under developed" as well then... for going over their overdrafts and being charged for it ?

If you can't see the point I am trying to get across then I give up.

To date, the UK's personal debt totals close to £1.5 trillion, incase you didn't know.

I agree with you, but I know I am going to be sensible with it - I hardly want to get myself into debt no matter what the temptation is. As has previously been said, people mature quicker than others and the way I see it is that I would rather prosper in the future by making decent decisions now and have a lot more to show for myself than a huge debt and massive monthly repayments because of lack of determination and self control now. I know I am going to be sensible with it, I just don't know which one would be best for me!

I see what you are saying though

 

[Lt. Manlove]

I've got one. Sometimes I'll be short on money, use it for a £2000 purchase and pay it off in instalments and get charged interest. Do I care? No. Just think of it as a loan.

 

[uvarvu]

I've gone for a Natwest YourPoints card. I solely chose this card so that I can use the points to buy copious amounts of meat at M&S.

If you're unsure about whether you can pay your card off in full each month just pick a maximum amount you know you can pay and set your credit limit to that.

 

[TheCrow]

I am looking for a new card just now and think I will go with the tesco credit card, 1 point per £4 on spending(internal/external) on top of any normal club card points (internal). Its the only rewards scheme we really use so best to boost it if we can for free.

 

[smr]

I agree with you, but I know I am going to be sensible with it - I hardly want to get myself into debt no matter what the temptation is. As has previously been said, people mature quicker than others and the way I see it is that I would rather prosper in the future by making decent decisions now and have a lot more to show for myself than a huge debt and massive monthly repayments because of lack of determination and self control now. I know I am going to be sensible with it, I just don't know which one would be best for me!

I see what you are saying though

Fair enough, I don't know it it has already been mentioned but when applying for one make sure it's the right one, applying for a several will severely affect your credit rating. Be sensible

 

[[TW]Fox]

Sometimes I'll be short on money, use it for a £2000 purchase and pay it off in instalments and get charged interest. Do I care?

You should care - there are ways to do this without paying any interest at all.

Always use a card suited to whatever your intended use is. If you intend to buy £2k items and pay them off in stages then make sure you balance transfer to a 0% card, or better still, purchase on a 0% purchases card.

 

[Berserker]

You should care - there are ways to do this without paying any interest at all.

Indeed there are - I did exactly that. £2,500 on a Tesco credit card for 13 months interest free. Thank you very much. I'm repaying £100 per month and can repay in full from my offset savings account should I need to. So that's effectively -4.59% APR - not so much of a squashed fruit any more.