Credit card

Soldato
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Freefaller said:
Why do you feel you need a credit card? Are you sure you can be sensible with one?


Yes I know I can be sensible with one and I probably won't use it much if at all. I just want to start building a credit rating up.
 
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How important is this whole credit rating thing?

At the minute I have no credit card only a current account and savigns account. Will my rating be classed as 0?
 
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jezsoup said:
How important is this whole credit rating thing?
Less important than I was always lead to believe.

I applied for a mortgage with a non existant credit history, same story for my gf and we were told we were what they would regard as ideal candidates. When they looked up our credit histories they were basically blank.
 
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lordrobs said:
Less important than I was always lead to believe.

I applied for a mortgage with a non existant credit history, same story for my gf and we were told we were what they would regard as ideal candidates. When they looked up our credit histories they were basically blank.

Sha-weeeet, I have no intentions on ever getting a credit card, not that I cant trust myself with it, I just dislike the idea of them and lack of control it can lead to etc etc. With the wya people on here have gone on about credit rating I got a thinkin I may have trouble getting a mortgage in a few years etc etc.
 
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I would recommend an egg Money card to anyone.

You get 4% on positive balances and 7.9% debited on negative balances. There is no fee for withdrawing cash from cash machines including abroad and there is a standard cash-back arrangement with extra deals thrown in now and again such as 5 or 10% at Currys or CD WOW

I lurve it
 
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Simmz said:
Yes I know I can be sensible with one and I probably won't use it much if at all. I just want to start building a credit rating up.

You don't need a CC to clock up a good rating. But if you know you can be sensible then go ahead by all means. Some do offer you good deals and so on.

I have an Egg card which is pretty decent as far as rates and so on are concerned - it has a good web interface.
 
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jezsoup said:
Sha-weeeet, I have no intentions on ever getting a credit card, not that I cant trust myself with it, I just dislike the idea of them and lack of control it can lead to etc etc. With the wya people on here have gone on about credit rating I got a thinkin I may have trouble getting a mortgage in a few years etc etc.
Thats what I always thought too.

Also, not sure if this applies to you but something worth considering is that student loans do not count against you in terms of a mortgage application (mine is currently in excess of £13k :o )

EDIT- OP sorry for taking this off topic but as you can see its not really essential to "build" a credit history for things like mortgages loans etc. The only thing you might struggle with is store cards as my gf found but tbh they are no loss.
 
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Well my bro never had a credit card but he could still get a mortgage. However, he was refused a contract phone.

Id get one personally. It'll boost your credit rating and it makes buying on the web a bit safer.
Barclaycard seem pretty good.
Just think about what you are using it for and you shouldnt get into trouble. :)
 
Soldato
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It's just a bit more safety as well. Just incase another card did get rejected or I needed to use it on holiday for some other reason. I don't plan on using it, would just like it incase I ever did.
 
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Let me see "Whats in My Wallet" :D ...

CapitalONE Platinum, 6.4% on Transfers and Purchases... for life (sod these 0% things for 12-18months...)...

Though C'One's 0% cards are low on purchases too!... I hartily recomend them!...

:cool:

Avoid the major banks (HSBC, Nat-West etc...) as they sometimes have higher APR's...
 
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Simmz said:
It's just a bit more safety as well. Just incase another card did get rejected or I needed to use it on holiday for some other reason. I don't plan on using it, would just like it incase I ever did.
Thats fair enough, thats basically why I got mine (applied at the same time as the mortgage) The problem is that now I'm getting letters saying "why haven't you used your Nationwide credit card?"

Errr... because when I phoned up to activate it I was forced into getting the payment protection, not having time to argue I said fine, send me the paper work and then I'll cancel the protection. "Yeah yeah yeah mate thats fine innit" :rolleyes: and I haven't got round to doing so yet. Having said that, any more hassle with the ones that are "proud to be different" and they I'll cancel the mortgage, credit cards, bank account, ISA's and make sure that in total a six figure sum gets invested elsewhere just to make me feel better :)

Sorry for the OT rant, I need to vent every so often to stop my brain melting at their inability to perform simple tasks.
 
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Have had a credit card since i could get one, ive spent ~400-500 on it and paid that off instantly, i dont really find them useful at this stage in life - as long as you can trust yourself with one, get to the bank and ask basically.

Debit card's will serve me fine for a long long time i'd guess
 
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Simian said:
Let me see "Whats in My Wallet" :D ...

CapitalONE Platinum, 6.4% on Transfers and Purchases... for life (sod these 0% things for 12-18months...)...

Though C'One's 0% cards are low on purchases too!... I hartily recomend them!...

:cool:

Avoid the major banks (HSBC, Nat-West etc...) as they sometimes have higher APR's...

6.4% for life - Are you planning on having an outstanding balance for life?
Personally I prefer to have 0% for 12-18 months and then simply transfer the balance and have another 0% for 12-18 months.

I've got an outstanding balance on a card right now which I could pay off.
However as I'm not paying any interest on the balance there is no rush really.
The 0% on this Halifax card ends in a month's time, so then it will be time for an MBNA card and another 0% until January 2008.
 
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stoofa said:
6.4% for life - Are you planning on having an outstanding balance for life?
Personally I prefer to have 0% for 12-18 months and then simply transfer the balance and have another 0% for 12-18 months.

I've got an outstanding balance on a card right now which I could pay off.
However as I'm not paying any interest on the balance there is no rush really.
The 0% on this Halifax card ends in a month's time, so then it will be time for an MBNA card and another 0% until January 2008.
Dont do MBNA mate. The card doesnt work out as cheaply as the APR would imply :( The way they apply payments to debt isnt very customer friendly. I will see if I still have the details.
 
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stoofa said:
6.4% for life - Are you planning on having an outstanding balance for life?
Personally I prefer to have 0% for 12-18 months and then simply transfer the balance and have another 0% for 12-18 months.

I wouldn't, it's hassle I can do without, especially now everyone is charging transfer fees as well.

*pats 5.9% for life Capital one no hassle platinum card*

It's nice to know I can use it without it crippling me if I can't pay it straight back.
 
Soldato
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Personally I would say to avoid Credit Cards unless you can be sensible with them, or just have them for emergancies etc.

Otherwise I wouldent have a clue what card is good, Egg are apparently good though from what I hear.
 
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