just been acepected for my first credit card

terafarma

bunhead99 wrote: »

hi iam 21 and never had a credit card so i applyed for one and got one is 11.9% apr is that good? iam only going to use it in an emercey.though

Be sure to read and understand the small prints of their T&Cs, as 'the devil's in the print' as the saying goes. Also, be very careful and sensible about the use of the card. It is a very easy way of getting into serious irredeemable debt.

I'll advise you to set up a direct debit to at least pay the standard minimum monthly amount, and then pay off as much as you can by other means. The sure bet way of maximising the benefits of a credit card is to pay it off in full, where possible, before the due date.

Good luck with this new, useful but potentially dangerous acquisition if not used and handled with care and caution.

terafarma.

Toastie

I got myself a nice capital one card about month ago, i just bought little things that i needed in the month and it still added up to 70quid (i only have £100 limit) so bewarned it all can add up.

helpmeee

i would cancel ur card.

u dont need it

Toastie

helpmeee wrote: »

i would cancel ur card.

u dont need it

It may not be needed but credit cards allow improvement of credit scores, which, in this day and age can get you a hell of a lot more if you work hard enough.

simongregson

Not to mention the better protection you get if a company you buy from goes bust. And the ability to hire cars. And the interest free float. Insurance on purchases with some cards. Cashback and rewards. Well worth it!

Scousebird_2

Nice one!! Don't go mad....my signature will tell you all-all from bloody credit cards!! And I'm 21-wish I'd of waited till I was 21 to get my 1st credit card......!!! Lol...live and learn eh! Be wise, leave it in a box and don't take it out with you unless you are putting something on it to pay off within a few days and that way you can't go wrong!

geoffky

I feel sorry for you... i really do...credit cards cause misery in untold households...

exel1966

geoffky wrote: »

credit cards cause misery in untold households...

I agree, but only for those who are not self disciplined with them or misuse them.
It's very easy to say yes to the credit increases and spend,spend, spend, but it's just as easy to say NO I can't afford it and won't buy it.

NUFCnutter

Best bit of advice, leave it in a box or drawer at home, spend a fiver on it a month, pay it straight off via direct debit. NEVER KEEP IT IN YOUR WALLET.

gax23

Just popping by to second what's already been said a few times. PLEASE don't spend more than you can pay off straight away. I did, and I've only just cleared it. I worked out that over three years of having credit cards, I paid over £4,000 in interest alone. That's an expensive mistake to make, so don't.