Credit Cards

[Jcb33]

How goes it all? Just thinking of getting a credit card.... I want to subscribe to a Station Account at SOE so i can play more than one game a month without having to pay full sub fees, i was wondering as i have not had a credit card before, is it ok to use it once a month?

Can you have it paid off automaticaly?

What is a good one to go for?

Any other advice?

TY, Jcbz0r

[Gr44]

You can use them as much or as little as you want... so once a month is fine. I have several credit cards... I only ever use 1-2 at any one time ( depending on what deals I get )

You can setup a direct debit every month from your normall bank account if you want, that can cover what you spend - but it isn't really any hassle to do it online/ over the phone as long as you remember!

All credit cards are much and much unless you put mega money on them, but it doesn't sound like you will do so I wouldn't worry. just look for low APR and 0% for X months if possible and go with a known bank... not some dodgy one-off card/bank!

Check out some of the following:

http://www.mbnacredit.co.uk/
http://www.barclays.co.uk/
http://www.egg.com/

Also, if you spend alot on amazon, look at getting an amazon card you get points the more you spend than can be redeemed for amazon vouchers.

[teachmech]

Try the following site for some good info and various card deals

http://www.fool.co.uk/

Good luck

[JPreston]

I have two credit cards from my bank and a direct debit that pays them off in full after the 56 days or whatever, so I never incur any interest.

I think it is awfully nice of them to offer this facility because they therefore make a loss on my cashback points, and my balance becomes a free loan etc. Halifax BTW, maybe others do the same

[Funkstar]

Originally Posted by JPreston

I think it is awfully nice of them to offer this facility because they therefore make a loss on my cashback points, and my balance becomes a free loan etc. Halifax BTW, maybe others do the same

don't be silly. the only time credit card companies aren't making money out of you is when you don't use it and they keep sending you a monthly statement telling you you have 0.00 balance. (or in my case 84p credit on an American Express Blue). Every time you use your card the shop is charges a percentage of the total in fees, usually about 2%.

[kasavien]

get a debit card, then you can't spend what you aint got

[directhex]

Originally Posted by kasavien

get a debit card, then you can't spend what you aint got

but you often can't use a debit card (especially abroad or on foreign websites), and get no protection from fraud

[kasavien]

Well the one i have i can use abroad, and have done, the only downside, is the lack of protection from fraud, but i'm careful when i use it, and i keep an eye on what goes in and out. I suppose you need to get what suits your needs, which is what mine does. Its from nationwide btw

[directhex]

Originally Posted by kasavien

Well the one i have i can use abroad, and have done, the only downside, is the lack of protection from fraud, but i'm careful when i use it, and i keep an eye on what goes in and out. I suppose you need to get what suits your needs, which is what mine does. Its from nationwide btw

there are two companies that matter that do cards - visa, and mastercard. both companies offer three services - credit, debit, and My First Debit For Kids(tm).

visa's debit service, Delta, can often be used in places that accept Visa (credit) - but not all. mastercard's debit service, Maestro (formerly Switch), has a far lower acceptance rate.

for trips abroad, a Visa or Mastercard credit card are more likely to be accepted than Delta, and definitely more likely than Maestro. and the kids' cards (Solo and Electron), well let's just leave them be.

there are other services offered on most cards - e.g. i've used american cash machines to withdraw cash in dollars courtesy of the Plus service on my Maestro card.

[JPreston]

Originally Posted by Funkstar

don't be silly. the only time credit card companies aren't making money out of you is when you don't use it and they keep sending you a monthly statement telling you you have 0.00 balance. (or in my case 84p credit on an American Express Blue). Every time you use your card the shop is charges a percentage of the total in fees, usually about 2%.

Yes so it doesn't cost me anything now, does it?

[Rave]

His point is that they're still making money, the cashback they pay you is only a percentage of the 2% they charge the store when you spend on the card. You are of course using the card exactly the right way, gaining protection from fraud and up to 56 days free credit at no cost to you.

[Jcb33]

I have a debit card, i wouldent be getting a credit card if they accepted it

[Rave]

I think the ever helpful www.moneysavingexpert.com has a comprehensive guide to the best credit cards for various purposes. If you intend to pay off in full every month it sounds as if you want a cashback card.

[Spud1]

Looking at your profile your 19 right?

So are you a student (at uni/college?) if so you probably have a student bank account? If not then it is well worth getting one, not just for the free gift and interest free overdraft, but also for the cheap credit card. Many banks offer student cards with lower interest rates and decent interest free periods, plus other benefits.

Well worth asking your bank to see I would also only get one credit card - you have no need for more than that unless you want to get really clever with your money (and in that case it involves a lot of balance transferring, using the correct card for the correct purchase etc...not worth it imho).

The important thing is to set up a direct debit when you get your card to automatically pay it off in full every month, that way you pay no interest, keep your cash in the bank as long as possible (gets you interest) and you don't have to worry about forgetting to pay

[Jcb33]

Sounds good, i can get the card, put in the details, put it away and have a direct debit to pay it off Will go into HSBC and see what they have on offer

[Tarffie]

I've got a student account with HSBC, pretty much automatically upgraded from my kiddlies account and I just had to show them some UCAS stuff. Tis a Mastercard they offer, never use it like, but I've got one anyway.