Credit cards - anything to look for?

oli356

oli356

oli356

Soldato
Joined
10 Jan 2010
Posts
5,319
Location
Reading
Hi all,

I've been meaning to get a credit card ever since I started my 1st job (only 19). I will most likely only use the credit card when buying anything which I can expense, everything else can come directly from my debit card.

Is there anything special I should look for (good or bad) when looking to get a CC? Any recommendations :)?

Cheers!
 
1% cashback if you can and have some sort of decent credit
my first cc was a 1% cashback card, i use it for everything, (except cash!!)
theres no point not using it for everything really

Maybe worth going through your bank if its your first,
pay off in full every month

I now have a 1.25% amex but still need a visa/MC for those that dont accept it

when using these for company expenses it is essentially free money!
 
I have the Tesco clubcard credit card. Earn points at Tesco as well as anywhere you use the card but at a less favourable rate.

You can then double or triple up your points for various rewards.

Ordered a hudl today and it only cost me £20 :-)
 
al4x said:
1% cashback if you can and have some sort of decent credit
my first cc was a 1% cashback card, i use it for everything, (except cash!!)
theres no point not using it for everything really

Maybe worth going through your bank if its your first,
pay off in full every month

I now have a 1.25% amex but still need a visa/MC for those that dont accept it

when using these for company expenses it is essentially free money!
Click to expand...

I got my Amex 12 months ago, and I have enough for a return flight to Greece :D.

Going to save up until I have enough for Tokyo though.
 
There's 0% chance that I wouldn't be able to pay it off at the end of every month. So i guess there is no reason to simply not put everything on there, always hear that CC companies are better than banks when things go wrong!
 
Raymond Lin said:
I got my Amex 12 months ago, and I have enough for a return flight to Greece :D.

Going to save up until I have enough for Tokyo though.
Click to expand...

Is that airmiles or just cash?

If this is your first CC and you don't have much of a credit score you may want to just get one with your bank first as you're almost guaranteed to be accepted so long as you don't have any bad debt or history with them. Use that for 6 months then look around for something with benefits.
 
al4x said:
1% cashback if you can and have some sort of decent credit
my first cc was a 1% cashback card, i use it for everything, (except cash!!)
theres no point not using it for everything really

Maybe worth going through your bank if its your first,
pay off in full every month

I now have a 1.25% amex but still need a visa/MC for those that dont accept it

when using these for company expenses it is essentially free money!
Click to expand...

Are there any cards that still offer 1% cashback without having an annual fee? Barclaycard give me 0.5% on general purchases, but 2% at Supermarkets and Petrol stations. Just a pity I don't get 4% by using a supermarket petrol station.
 
As others have said, if you're definitely going to pay off the balance each month, look for a card that gives you something in return for using it.

Moneysavingexpert.com have a list that they keep up to date of the best credit card at any given point for different situations.
 
Russinating said:
Is that airmiles or just cash?

If this is your first CC and you don't have much of a credit score you may want to just get one with your bank first as you're almost guaranteed to be accepted so long as you don't have any bad debt or history with them. Use that for 6 months then look around for something with benefits.
Click to expand...

Air miles, actually not quite Greece, that's a few thousand short lol

qjkcGDF.png
 
Raymond Lin said:
If you are settling it every month then get one with either cash back or air miles.
Click to expand...

It's very unlikely at 19 he's going to be spending the sort of sums needed to earn a credible number of Avios - to be honest any card will be fine because it's more about building a half decent credit rating and having the security of a card when its your first one.

You've got enough points for a flight to Greece on your Amex probably because it would have come with a signup bonus - thats how I got enough points for 3 nights in a Sheraton on my Amex. At his age he probably won't get an Amex anyway, so it's not really relevant. Plus a flight to greece excluding taxes is under £100 anyway I'd imagine, which depending on your spend over 12 months is a fairly poor return perhaps not even matched by your average cashback card.

I'm getting pretty sick of my Amex anyway, I am often getting it refused and having to use another card. Frustrating, you wouldn't want to use Amex as your sole card.
 
Last edited:
airwave99 said:
Are there any cards that still offer 1% cashback without having an annual fee? Barclaycard give me 0.5% on general purchases, but 2% at Supermarkets and Petrol stations. Just a pity I don't get 4% by using a supermarket petrol station.
Click to expand...

there is the rainforest card, that has 1% on all purchases, which is as good as cashback if you use them

otherwise AMEX
i have straight cashback for amex not air miles

as said, probably better to just get the standard from your bank if its first card
 
Stick with your bank for your first credit card. Because of a lack of credit history, you're unlikely to qualify with many other places, and if you do the rates will probably be crazy and/or you'll have a tiny limit.
 
In the same boat as OP - looking for a first CC..
Saw this one on hotukdeals -
http://www.hotukdeals.com/deals/llo...-balance-transfer-credit-card-1-5-fee-1732467
Any good? I've been with Lloyds with a standard Current Account/Debit Card for past 4 years, so shouldn't have a problem getting it.

Any balance on it will be paid within 30 days. Not looking to make any majorly expensive purchases on it.

Advice appreciated :)
 
[TW]Fox;25239115 said:
I'm getting pretty sick of my Amex anyway, I am often getting it refused and having to use another card. Frustrating, you wouldn't want to use Amex as your sole card.
Click to expand...

This is why I ditched my Amex. The renewal cost was a joke, and too many places stopped taking them (Both of my local Shell garages for a start!)
 
You are 19 so do the following.

Apply at any major bank, whatever its not important, neither is APR.

Apply for 1 per month max, dont apply for 3 months if rejected.

I only really say to apply for multiple ones because your credit limit will be low, so good to have 2-3 cards.

Set it to pay the FULL balance each month

Use the cards for all purchases, only excluding cash withdrawls.

Pay for small stuff in cash (just as its easier to look through spending if you dont have hundreds of micro transactions) ( I have a separate account for micro transactions)

If your card is cloned, lost, stolen whatever, its easy to fix, you wont be out of pocket, you get additional protection, all problems are sorted out faster. Your main money (in your debit card) is unaffected. I.e. if someone does fraud on your debit card, its a far bigger hassle

You should be paying the full balance each month, therefore you will get no interest. Think of a credit card as a proxy. Also if its an emergency, you could change to minimum re-payments for a short time
 
Last edited:
YarwoodUK said:
In the same boat as OP - looking for a first CC..
Saw this one on hotukdeals -
http://www.hotukdeals.com/deals/llo...-balance-transfer-credit-card-1-5-fee-1732467
Any good? I've been with Lloyds with a standard Current Account/Debit Card for past 4 years, so shouldn't have a problem getting it.

Any balance on it will be paid within 30 days. Not looking to make any majorly expensive purchases on it.

Advice appreciated :)
Click to expand...

The deal offered there is of absolutely no use to you. It's a good deal for people who already have outstanding credit card debt and wish to transfer the balance. As a first card deals like this do not benefit you.

Find another card - perhaps something that offers cashback.
 
[TW]Fox;25239115 said:
I'm getting pretty sick of my Amex anyway, I am often getting it refused and having to use another card. Frustrating, you wouldn't want to use Amex as your sole card.
Click to expand...

Just to pick up on this, it depends a lot of your spending patterns and what type of spending you do as to whether an Amex is worthwhile or not. Amex tends to be available in most major stores and chains these days, it's typically only independents that reject it.

It's very good for travelling, the various cards have some nice perks that can make it worthwhile if you fly a lot (e.g. lounge access, priority security, Avios/airmiles etc).
 
daz said:
Just to pick up on this, it depends a lot of your spending patterns and what type of spending you do as to whether an Amex is worthwhile or not. Amex tends to be available in most major stores and chains these days, it's typically only independents that reject it.

It's very good for travelling, the various cards have some nice perks that can make it worthwhile if you fly a lot (e.g. lounge access, priority security, Avios/airmiles etc).
Click to expand...

It's not good for spending whilst travelling though - the exchange rate is inferior to Mastercard and Visa and they charge a 3% fee as well, whereas there is no fee and a better exchange rate on something like a Clarity.

Mine was very useful for one specific purpose - I took it out when there was a 20k MR bonus for a certain level of spend, booked as much of my US/Canada trip on it as I could to trigger the bonus (though this did end up paying more for several things inc 30 quid extra at Virgin!!!) and then redeemed all the points for 3 nights at a Sheraton in Vancouver which would otherwise have cost me £300.

I also used the lounge pass as well at YVR but to be honest this was 'nice' but I don't really see the fuss with airport lounges. It was fun for a 'yea, I'm in the loungue' kinda experience but it wouldnt have materially affected my journey had I not been able to use it.

But since then I've had numerous occasions now where I've tried to use it and have always had to fall back. On two occasions I've spent a tidy sum on tyres for cars only to have it rejected. Service at a main dealer, sorry no Amex. Infact pretty much everywhere that isn't a high street chain either says no or loads the card up with a fee that makes it not worth the bother.

Tempted to cancel it. There must be some circumstances where it's worthwhile, but not sure it's for me. Which is a shame as I'd love to use it as my normal go-to card because some of the things they do, they do very well. Book travel on it, ie flights or car hire, and your paper statement shows the rental agreement number, pickup date, flight numbres, etc. Cool.
 
You must log in or register to reply here.
Back
Top Bottom