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Old 16-10-2014, 12:27 PM   #1
N/A is the way forward!
 
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Who knows about credit cards?!

Need help here guys,

In now old enough and earning enough to get on the credit ladder however i dont have much of a clue as to which card to go for, or indeed what im looking for in a credit card?

my plan is to basically use the card and pay it off before any interest is even applied, however i understand that this may not always be the case.

cards with clubcard and nectar points dont really interest me lol so i cant be swayed by those kind of companies however low interest is gooood (this is basically all ive come to know)

Thanks
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Old 16-10-2014, 01:01 PM   #2
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If your going to pay it before and interest is incurred, pretty much any card, but otherwise look for the one with the best interest rate.

Moved to the correct section.
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Old 16-10-2014, 01:09 PM   #3
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i have a bank of scotland credit card, i got 18month interest free on purchases and the interest rate is low afterwards.

go on money supermarket, best place!!
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Old 16-10-2014, 01:12 PM   #4
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also i believe barclaycard have good rates and interest for 14months!
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Old 16-10-2014, 01:40 PM   #5
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As above, you want the one with the lowest intersest rate. If you're going to pay the balance off in full each month then no interest will be applied anyway
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Old 16-10-2014, 01:44 PM   #6
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Thanks for the input,

I bank with Natwest currently, their platinum card is

Standard interest rate for purchases: 6.9% p.a. (variable)
Representative 11.1% APR (variable) based on an assumed Credit Limit of 1,200
Annual fee: 24

doesnt seem too bad? although no introductory offers
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Old 16-10-2014, 01:47 PM   #7
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try bank of scotland, i only got my credit card 2 months ago and they are by far the best i could find.

lowest interest
highest interest free time
highest limit (3000)
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Old 16-10-2014, 01:50 PM   #8
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Avoid credit cards at all costs haha. Nightmare things unless you are seriously switched on with your incomings and outgoings. Probably best to pay for a regular item that you would normally get each month, dont spend beyond what you can afford to pay back when the bill comes in. Dont use to by yourself a new TV or anything as thats when you cant afford to pay all back and then pay half next month which adds interest... and the spiral of shit starts haha... Been there... done that and got the tshirt.
If you are good with money though... generally go for the lowest APR one you can get really... but beware that the advertised APR isnt what you will necessarily end up getting and so if you earn interest you will pay back more...
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Old 16-10-2014, 03:45 PM   #9
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in comparison the bank of scotland does have some introductory offers but with interest levels of over 18%?

haha well i have held off for so long, i just want to do a bit of juggling and get my car paid off quicker in the cheapest possible way (not the skyline)
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Old 16-10-2014, 04:54 PM   #10
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Quote:
Originally Posted by mathewp2003 View Post
Avoid credit cards at all costs haha. Nightmare things unless you are seriously switched on with your incomings and outgoings. Probably best to pay for a regular item that you would normally get each month, dont spend beyond what you can afford to pay back when the bill comes in. Dont use to by yourself a new TV or anything as thats when you cant afford to pay all back and then pay half next month which adds interest... and the spiral of shit starts haha... Been there... done that and got the tshirt.
If you are good with money though... generally go for the lowest APR one you can get really... but beware that the advertised APR isnt what you will necessarily end up getting and so if you earn interest you will pay back more...
^^^^^ This.. I am 51 this year, had my first Barclaycard at 20-something. Incredibly useful but also incredibly easy to get into deep water, which I have done many times! Almost everyone I know has made the mistake of spending loads and then just paying back the minimum, including myself!

Spend only what you can afford to pay back at the end of the month.... get a bank loan at a quarter of the interest rate for big purchases that you need to spread the payments for over a long time.

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Old 16-10-2014, 04:58 PM   #11
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also DO NOT go on differant sites and register to see what card you will get because if you try on sveral differant sites it will count as your trying to get more than one card and it will screw up your credit rating

i tried to get a card for our honeymoon and i was denied a card with a limit of 2 grand even though my monthly wage was triple that and my wife who was a student with student loans and no credit history at all got one for 1750.

syste is backwards i tell you lol
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Old 16-10-2014, 05:30 PM   #12
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I got a 2000 credit card years ago and did the usual of maxing it out within a few months. Admittedly I was young so I would buy loads of smaller things that all add up because it was like having free money.
It took years and a tour of Afghanistan to clear the debt. I've got another one now with 6k on it but I've grown up a lot and learned my lesson so it still has 6k on it and is for mega emergencies only.

If you're going to pay the balance off every month then look at which card gives you the best protection on your purchases etc rather than the interest rates.

Just be careful!

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Reeper... What job did you do to take home 6k a month? I want one!
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Old 16-10-2014, 05:42 PM   #13
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Quote:
Originally Posted by Timmy_GTS View Post
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Reeper... What job did you do to take home 6k a month? I want one!
well its not quite that much but close enough and its the job im at right this second actually.
im on an off shore oil rig between saudi arabi and kuwait sitting in an air conditioned office waiting on the rig to finish well completion and to start drilling the other wells
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Old 16-10-2014, 05:47 PM   #14
N/A is the way forward!
 
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Thanks for the input guys much appreciated, good to hear some experiences too lol. good thing im a tight bas***d!

Wow are they after any engineers?! I wouldnt need a credit card!
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Old 16-10-2014, 07:02 PM   #15
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I know a lot of people leave my trade and go to work off shore...I can kind of see why now. I'm out in 2 years so maybe I should consider it and come work with you
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