Should I get a credit card?

Got a santander one myself, I always use my card for shopping and petrol, also hand it to the parents to stick their shopping and petrol on it. That way I get a decent cashback.
 
Freefaller said:
However they allow a bit of flexibility and can offer good things if you use it sensibly.
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I have earned £300 in cash for using Amex over the last three years. They offer other incentives, too, if you take PC World vouchers for example (an extra 10% cash back).

£300 for doing nothing, other than originally applying for the credit card and setting up the direct debit.

Yeah, total mugs game :rolleyes:
 
Definite yes, it is a good idea to build up your credit rating. As long as you trust yourself with credit then you can pay it off as soon as you get the bill and it will cost you nothing but will benefit you in the long run.
 
Freefaller said:
Only if you abuse it.

I use it to buy things online as it offers me more protection than my debit card. I also clock up points with it. So it's win win really. I pay it off in full every month, or if I can't I make sure I pay it off as quickly as possible (this rarely happens fortunately).

However they allow a bit of flexibility and can offer good things if you use it sensibly.
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This, I'm not sure what that other guy is on about. I have had one a year noe and have paid Barclays nothing as I pay it off full each month. As long as you trust yourself (if you don't, then have a low limit) you will not lose anything.
 
Getting a good credit score is overrated except for a mortgage. :P

I've got 975/1000 credit score with not a negative to my name (apart from being 29yrs old apparently?), and I have been rejected on every credit card with <25% APR that i've applied for. Each one cunningly redirects you to their sister company with APR 39%++.

Not meaning to generalise but very few people have the strength of will to pay off a card every month. You'll do well for the first few months, but then it'll lag...
 
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Thanks for the responses everyone!

Seems like pretty much everyone has the same opinion. As long as I can trust myself to only spend what I would otherwise spend, and pay it off every month, then I should do it.

So far, I've only once (from what I remember) actually had to go into my overdraft (first year at uni & halls were far more expensive than the money from student loans!) since then, however, I've always been out of it. I've currently got £1400 of interest free overdraft available, but I have plenty of savings at the moment I have no plan to go into it. I don't have an income at the moment (unless you class student loans), but I also don't have many outgoings (although I'm looking at getting myself a car, so these will increase) I also have a fair amount saved up from my sandwhich year & working over the summer.

I think I'm going to have a look to see what's around & apply for one!
 
RedvGreen said:
Not meaning to generalise but very few people have the strength of will to pay off a card every month. You'll do well for the first few months, but then it'll lag...
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Not meaning to generalise but here's a generalisation!

If you can't manage money, don't get one, otherwise you'd be a fool not to.
 
It does not have to be a credit card OP, it could be something as simple as an account with Next or another catogue company.
These are often easier to obtain than a credit card, dont forget that applying for a CC and getting regected will also have an adverse effect on your credit profile.
 
R.C.Anderson said:
Thanks for the responses everyone!

Seems like pretty much everyone has the same opinion. As long as I can trust myself to only spend what I would otherwise spend, and pay it off every month, then I should do it.

So far, I've only once (from what I remember) actually had to go into my overdraft (first year at uni & halls were far more expensive than the money from student loans!) since then, however, I've always been out of it. I've currently got £1400 of interest free overdraft available, but I have plenty of savings at the moment I have no plan to go into it. I don't have an income at the moment (unless you class student loans), but I also don't have many outgoings (although I'm looking at getting myself a car, so these will increase) I also have a fair amount saved up from my sandwhich year & working over the summer.

I think I'm going to have a look to see what's around & apply for one!
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Pah! You haven't lived until you've existed for 3 months in your overdraft! :D
 
I use my credit card for all online purchases and general stuff like petrol stations etc. It's much safer than a debit card as you can get refunded a lot easier if somebody gets your details online or clones your card etc.

I pay mine of in full every month so I don't pay any interest.
 
Supermarket Credit Cards are pretty good, because you usually get cash back on them, so say Asda card for instance, you get money back when you spend money at Asda, includes petrol etc too. Also Barclaycard is pretty good imo :)
 
Ammeg said:
Supermarket Credit Cards are pretty good, because you usually get cash back on them, so say Asda card for instance, you get money back when you spend money at Asda, includes petrol etc too. Also Barclaycard is pretty good imo :)
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Asda seems like a pretty bad card. Only 1% in-store and 0.5% everywhere else.
 
Had several credit cards for the last 12 years and paid off every card each month. Earned hundreds in rewards and had the added security benefits.
 
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