I want a credit card!

SideWinder · 9 Jul 2007 at 20:35

I have decided i need to get a credit card but i have no idea what to get. I basically need advice on where to go, companies, what to look out for etc.

I will only ever use it in emergencies as i honestly don't like the idea of credit too much.

Guide me.

Jez · 9 Jul 2007 at 20:36

Get a VISA debit card. Accepted in the same places as visa, ie, everywhere.

Mulder · 9 Jul 2007 at 20:37

If you've got a decent credit rating them go to moneysupermarket and check out the best deals. If you've got a bad credit rating go to Capital One.

Solari · 9 Jul 2007 at 20:38

Leave well alone, tbh, especially if a woman has access to it

Visa Debit is good for practically anywhere in the world mate. Personally I take traveller's cheques abroad though.

SideWinder · 9 Jul 2007 at 20:48

Mulder said:
If you've got a decent credit rating them go to moneysupermarket and check out the best deals. If you've got a bad credit rating go to Capital One.

But i have never had a credit card before...so i shouldn't have a rating? But what IS a good deal? That's the point of this thread..i don't know what to look for.

basmic · 9 Jul 2007 at 20:48

Mulder said:
If you've got a decent credit rating them go to moneysupermarket and check out the best deals. If you've got a bad credit rating go to Capital One.

Capital One Classic Card
For people who need to strengthen their credit rating

No Annual Fee
Up to £2,500 in spending power
Credit limit increase - simply use your card*, stay within your credit limit and make your payments on time and we will increase your initial credit limit on your 4th statement
A FREE choice of card design
Spread your payments
Typical 34.9% APR variable

Darkwave · 9 Jul 2007 at 20:51

Jez said:
Get a VISA debit card. Accepted in the same places as visa, ie, everywhere.

Bingo. I have a credit card, but I only ever use my Visa Electron debit card.

It's just a simpler, easier way to make transactions and not spend more than you actually have.

Azagoth · 9 Jul 2007 at 20:53

Same here, don't like the idea of walking around with over a grands worth of temptation in my wallet. I use a Visa debit card too, like mentioned above.

Sinny · 9 Jul 2007 at 20:54

Im in the same situation really, i have to do a bank transfer to my parents account if i want to order anything online as i only have a cash card and a cheque book.

i would love to order my own things but i have been told that credit cards/debit cards are not worth it at my age (18).

i would like a card that wont let me go below what i dont have, anyone have a suggestion?

Darkwave · 9 Jul 2007 at 20:55

Sinny said:
Im in the same situation really, i have to do a bank transfer to my parents account if i want to order anything online as i only have a cash card and a cheque book.

i would love to order my own things but i have been told that credit cards/debit cards are not worth it at my age (18).

i would like a card that wont let me go below what i dont have, anyone have a suggestion?

Visa Electron debit card. You can order from pretty much anywhere online with it and I've not been in a shop that doesn't take them either to be honest. You can only spend money that's physically in your bank account, and you can also use it for internet banking amongst other things.

phi1 · 9 Jul 2007 at 20:58

Sinny said:
Im in the same situation really, i have to do a bank transfer to my parents account if i want to order anything on-line as i only have a cash card and a cheque book.

i would love to order my own things but i have been told that credit cards/debit cards are not worth it at my age (18).

i would like a card that wont let me go below what i don't have, anyone have a suggestion?

I have a visa electron, I am 15 years old, With Halifax, you can't spend over what you have in your bank ect. its very good! I can order from on-line do most things ect paypal needing to be 18 ect ect.

Burnsy2023 · 9 Jul 2007 at 21:00

Jez said:
Get a VISA debit card. Accepted in the same places as visa, ie, everywhere.

I would advise against this due to not being protected under the consumer credit act and your also not strengthening your credit profile.

As long as your careful with your money there is no reason not to get a credit card.

Burnsy

Dist · 9 Jul 2007 at 21:00

it is possible to get an overdraft with a visa electron, so it is technicaly possible to spend money you dont have in your bank, but i think you dont get an overdraft unless you request one.

Millwall.FC · 9 Jul 2007 at 21:03

im not too keen on spending money that aint mine....
once you get in debt its like a lead weight and will suck you dry.

Burnsy2023 · 9 Jul 2007 at 21:03

Dist said:
it is possible to get an overdraft with a visa electron, so it is technicaly possible to spend money you dont have in your bank, but i think you dont get an overdraft unless you request one.

There is absolutely no advantage to having this over a Credit card.

Get a card below the 18% APR rate. Money supermarket would be a good start.

Burnsy

Burnsy2023 · 9 Jul 2007 at 21:07

Millwall.FC said:
once you get in debt its like a lead weight and will suck you dry.

There is a big difference between manageable and unmanageble debt. Managable debt is good, especially when you're young as it gives you a good credit rating which is very useful when you get a mortgage.

Unmanageable debt is potentially a very dangerous situation, but some people would agree that a bad credit rating can be better then no credit rating at all.

Burnsy

isset · 9 Jul 2007 at 21:08

Millwall.FC said:
im not too keen on spending money that aint mine....
once you get in debt its like a lead weight and will suck you dry.

So use it responsibly and don't get into debt? I've never ever paid a single penny of interest in many years of having credit cards

Whilst everyone needs a debit card, making online purchases is a bit of a risk compared to credit - once the money has disappeared from your account via a debit card it can be very difficult to get it back. Credit cards on the other hand are a different matter altogether :cool:

Raymond Lin · 9 Jul 2007 at 21:09

You don't decide you need one, if you don't actually need one, don't get one.

Darkwave · 9 Jul 2007 at 21:09

burnsy2023 said:
There is a big difference between manageable and unmanageble debt. Managable debt is good, especially when you're young as it gives you a good credit rating which is very useful when you get a mortgage.

Unmanageable debt is potentially a very dangerous situation, but some people would agree that a bad credit rating can be better then no credit rating at all.

He's already said he just needs a card for emergencies and doesn't like the idea of credit, so I'm not sure where all this is coming from. :confused:

Burnsy2023 · 9 Jul 2007 at 21:11

Ulfhedjinn said:
He's already said he just needs a card for emergencies and doesn't like the idea of credit, so I'm not sure where all this is coming from.

My point is that although he doesn't like the idea of credit it could be benificial to him as long as he only uses it as intended.

Burnsy