Credit card advice (First one)

[surrey jim]

If someone could manage thier fanances properly why would they need a credit card?

for the benifits. On mine you get money off travel related purchases for every £x you spend on the card. By using this instead of a debit card im getting something for nothing. (this only works if you pay the balance each month therefore paying no interest)

 

[NF9]

for the benifits. On mine you get money off travel related purchases for every £x you spend on the card. By using this instead of a debit card im getting something for nothing. (this only works if you pay the balance each month therefore paying no interest)

Yes well I wouldnt take a credit card out just because of bonuses at the end of the day they give you bonuses because the swines are making money out of you.

 

[surrey jim]

Yes well I wouldnt take a credit card out just because of bonuses at the end of the day they give you bonuses because the swines are making money out of you.

If you dont pay interest/charges then how do they make money out of you??

 

[NF9]

If you dont pay interest/charges then how do they make money out of you??

I Dont know I would guess sponsors ect but I can assure you they dont do it out of the goodness of thier heart thats not how it works

 

[skipper734]

If you dont pay interest/charges then how do they make money out of you??

Because they charge the retailer a fee on every transaction.
The money expert site as previously mentioned, is the place to do research.

 

[REDLAND]

Virgin Credit Cards | UK Credit Cards | 0% balance transfer and discount offers

3 months to pay off your spends before you get charged interest

 

[SurreySeagulls]

Nationwide are stopping free overseas cash withdrawals I believe on 1st June.

 

[imissworthing2]

Sorry for another ever so slightly off topic question, but I have been refused by varioust credit card companies and even just before i went to uni, i was refused a student bank account by hsbc.

I'm so confused as i have never done anything to acrue bad debt,the worst i can think of is goin over my £150 overdraft of my current account sometimes, during my yr b4 uni.

other possiblity is that i have moved around alot ,but for the last 4yrs i have been on the electrol role in plymouth but to no avail. i am also a graduate now but that doesnt seem to matter.

Secondly thanks to the posters concerned re how to improve ur credit rating without getting a credit card,i'll give it ago.

I am getting to house purchasing age so this is getting alittle worrying as u can imagine

cheers

 

[imissworthing2]

yes 100 posts,what anniversary is that!!!

 

[seagullsovergrimsby]

I've never had a credit card , only use a debit card.

 

[dougdeep]

Try to get a cashback one. Then you make money on every transaction.

 

[surrey jim]

I Dont know I would guess sponsors ect but I can assure you they dont do it out of the goodness of thier heart thats not how it works

Because they charge the retailer a fee on every transaction.
The money expert site as previously mentioned, is the place to do research.

therefore charging the retailer (who sometimes passes on the charge ala easyjet/ryanair) however 90% of the time swallows the charge so in effect it is getting something for nothing.

 

[willyfantastic]

Sorry for another ever so slightly off topic question, but I have been refused by varioust credit card companies and even just before i went to uni, i was refused a student bank account by hsbc.

I'm so confused as i have never done anything to acrue bad debt,the worst i can think of is goin over my £150 overdraft of my current account sometimes, during my yr b4 uni.

other possiblity is that i have moved around alot ,but for the last 4yrs i have been on the electrol role in plymouth but to no avail. i am also a graduate now but that doesnt seem to matter.

Secondly thanks to the posters concerned re how to improve ur credit rating without getting a credit card,i'll give it ago.

I am getting to house purchasing age so this is getting alittle worrying as u can imagine

cheers

HSBC refused me a student account in my first year of uni because i went over my £100 once when I was scammed, and said I had a bad credit rating (pretty harsh as I this is the only thing Ive ever owed). I went into my local branch and they refused to help me, so I got papa bear in, who did a lot of huffing and puffing threatening to cancel my bank account, so they gave me my student account and an overdraft of 1k. (more if i wanted, but I dont use my overdraft) The also didnt mention me having a bad credit rating, I cant imagine having one before Uni, as I never had to pay any bills or use credit cards.....

Id either keep going into a branch until your taken seriously, or take somebody with you.

 

[Beach Hut]

Be disciplined and only use the card for work expenses also how quick does your company re-imburse them.

Mine takes around 7 days so I run a specific BHAFC MBNA card just for work so the club benefit.

Remeber to throw away all those stupid cheques they send you to go and buy goods at a rip interest rate as well.

 

[maidstoneseagull]

Don't do it, unless you are completely confident you are on top of your finances. It's very easy to spiral if you are not careful.

 

[ali jenkins]

DO NOT GET A CREDIT CARD!!

Its the worst finnancial decision I have made!!

If you want to get a good credit rating ask for an overdraft of a few hundred quid (but MUCH less than your monthly income) and make sure you go into it every month.

When payday comes, your overdraft is automatically put a £0 and your bank can see that you can get into debt and out of it again

 

[nail-Z]

Credit Cards offer insurance for your goods free of charge - the premium is included in the % they charge the retailer for accepting them. So if you get ripped off, a company goes bust before delivering your goods, fraud, they'll generally reimburse you - so there are some plus sides.

I pay for as much as I can on the Credit Card, but do pay the full balance off each month.

 

[Beach Hut]

DO NOT GET A CREDIT CARD!!

Its the worst finnancial decision I have made!!

If you want to get a good credit rating ask for an overdraft of a few hundred quid (but MUCH less than your monthly income) and make sure you go into it every month.

When payday comes, your overdraft is automatically put a £0 and your bank can see that you can get into debt and out of it again

Trouble with that is we go abroad on holidays and you just never know when you may have an unexpected cost like someone gets ill and you need to pay a bill straight away.

 

[ali jenkins]

Trouble with that is we go abroad on holidays and you just never know when you may have an unexpected cost like someone gets ill and you need to pay a bill straight away.

That is very true, and I probaly wouldnt say no again to a credit card but I would be sooooo carefull with it and only use it when I HAVE to!

 

[Garage_Doors]

If someone could manage thier fanances properly why would they need a credit card?

Free credit,

It means i get my expenditure back before i have to settle the credit card bill.
It means i don't have to fund or subsidise business expenses.

Managed correctly they are a good tool.

Credit cards are not an excuse to spend money you do not have.