Recently I've found it a bit annoying not having a credit card of my own available. Most online shops take debit cards so that's fine, but a few things like Steam and Xbox live need a credit card. I'm a student living off my loan so having a credit card for regular use wouldn't be a good idea. But I'd like to have one for the odd purchase that required one. I don't really know much about credit cards so are there any disadvantages to having one for occasional use? How do you pay it back? Is there a way it can be paid back automatically from my bank account? Knowing me I'd forget to do it if I had to send something off or the like. Is there anything else I need to know about them?
Credit card advice
- Thread starter Psyk
- Start date
You can setup a direct debit to pay it off monthly.
A credit card doesn't cost anything if you pay it off on time.
It works by you pay for your goods with the card, at a certain date in the month they will generate a statement for you. You then have to pay this off by a certain date.
If you don't pay it all off, you will be charged interest on the outstanding amount.
I got my student barclaycard when they were giving away free sandwich toasters in my union if you signed up.
A credit card doesn't cost anything if you pay it off on time.
It works by you pay for your goods with the card, at a certain date in the month they will generate a statement for you. You then have to pay this off by a certain date.
If you don't pay it all off, you will be charged interest on the outstanding amount.
I got my student barclaycard when they were giving away free sandwich toasters in my union if you signed up.
Hey,
I've got a capital one classic visa card, its only a £200 limit so its good for little purchases, when you get your card you have to ring the provider to activate it and you can set up a direct debit from your bank account so that it pays off the full balance each month so you don't have to worry about forgetting to pay. Theres nothing wrong with having one for occasional use just don't get tempted to put it on the card because its there, use it because you don't have another option or for emergencies.
Hope it helps
luke
I've got a capital one classic visa card, its only a £200 limit so its good for little purchases, when you get your card you have to ring the provider to activate it and you can set up a direct debit from your bank account so that it pays off the full balance each month so you don't have to worry about forgetting to pay. Theres nothing wrong with having one for occasional use just don't get tempted to put it on the card because its there, use it because you don't have another option or for emergencies.
Hope it helps
luke
best thing to do is to get it setup to direct debit at least the minimum and ideally the entire balance every month, to avoid charges for not paying and the interest you'll accrue if you don't pay it off in full each month.
As long as you remember its not free money you'll be fine with a credit card.
As long as you remember its not free money you'll be fine with a credit card.
The problem is keeping track of what I can afford to repay. I definately wouldn't have one for regular use, without a monthly income there's no point anyway. If I can't afford it now, I won't be able to afford it next month.PeterNem said:
Aruffell said:
Well basically, I don't need a credit card at this moment in time, I can use my parents whenever I want. But when I'm 18, I don't want to carry several hundred pounds in cash on me when I can simply carry a credit card, or even a debit card (maybe this is the better option for me). Also, there was a thread about credit rating earlier this year, and I thought I may aswell build it up when I reach 18.
Debit card is the way forward. The only thing I've found needs a credit card are pay-to-download type services for games (and pr0n presumably but I wouldn't be interested in that smutMackass said:
). If you get a maestro (or solo if you don't want to go overdrawn) card it'll be accepted almost anywhere else. Debit cards are nice and simple. You pay with card, money comes out account. No complications.Credit cards provide more protection for online puirchases, and can also step in when something goes wrong for instance if a retailor goes bust before you receive your goods etc etc, a regular bank/debit card may not help in these scenarios.