Need basic advice on N.I. credit cards

Pretani

I'm looking to buy off the internet this Christmas for the first time and as I've never used a credit card before I would like some basic information about them before taking the plunge. I'm really not concerned about how much credit or interest the card offers as I don't intend to get into the red, just to top up the card with cash before I purchase online. Actually it would be better if I couldn't go into the red in my opinion.

I notice some banks in N.Ireland charge an annual percentage fee for the card, there's also alot of packages which are time restricted, eg-

0% on purchases for 3 months
0% Balance Transfer for 9 months (2.5% fee applies)
Up to 56 days interest free credit

What's that all about? Is it possible just to get a simple card (that covers you during fraud) and allows you to buy of the internet without charging you anything extra?

Thanks in advance, I'm a real dunse concerning these type of things, having used cash all my life.

pikeypikey

You should be able to get a card that doesnt charge an annual fee, if you are going to pay the balance off each month the 0% on purchases or balance transfers wont make any difference to you - better to get a cash back card like Capital One - I dont know of any NI bank that offers cashback. The 56 days is just the length of time between the first purchase and paying the bill.

I have an Ulster Bank CC it doesnt charge an annual fee. Just because you are in NI doesnt mean you cant choose from any card.

Have a look at http://www.moneysavingexpert.com/cards/cashback-credit-cards

I think all CC cover you for fraud - I know Capital One cover you for Identify Fraud as well.

arkonite_babe

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cifpower

Some NI bank credit cards do charge an annual fee but these are like the high end prestige cards. If you want a bog standard card look for one which offers 0% on purchases. May I ask who you bank with? If its your first credit card you may be better off asking your own bank. I know Northern Bank offer 5 months at 0% for purchases.

Pretani

cifpower wrote: »

May I ask who you bank with? If its your first credit card you may be better off asking your own bank. I know Northern Bank offer 5 months at 0% for purchases.

I'm with Ulster bank, started of as a student account although i'm no longer a student.

The

'0% on purchases for 3 months
0% Balance Transfer for 9 months (2.5% fee applies)
Up to 56 days interest free credit,'

I got from bank of Ireland website. I just didn't understand the jargon.

Pretani

cifpower wrote: »

If you want a bog standard card look for one which offers 0% on purchases.

and if it has 0% for a certain amount of months (like the bank of Ireland one I quoted), does this mean I'll get charged every purchase I make after that period?

cifpower

Pretani wrote: »

and if it has 0% for a certain amount of months (like the bank of Ireland one I quoted), does this mean I'll get charged every purchase I make after that period?

If you clear your balance in full every month you will not be charged interest. If you carry a balance from month to month you will be charged interest.

Pretani

Lets say, I go to my current bank and ask them if I can have a card for buying goods online, with the protection of credit cards, but I won't work credit based and I'll put money into the account before buying online and continue that trend, could I ask for certain bonuses/offers?

cifpower

Pretani wrote: »

Lets say, I go to my current bank and ask them if I can have a card for buying goods online, with the protection of credit cards, but I won't work credit based and I'll put money into the account before buying online and continue that trend, could I ask for certain bonuses/offers?

Do you mean putting the credit card into credit with your own money then spending it? A lot of credit cards don't like that and may block your card. What bonuses/offers were you considering?

NickX

Pretani wrote: »

Lets say, I go to my current bank and ask them if I can have a card for buying goods online, with the protection of credit cards, but I won't work credit based and I'll put money into the account before buying online and continue that trend, could I ask for certain bonuses/offers?

You shouldn't pre-load the card in this way because using a positive balance in this way does not benefit from the Section 75 protection that you get when using the card in the normal way.

As long as you pay the Statement Balance in full before the Due Date you will pay no interest

pikeypikey

Maybe you should just use a debit card - this takes the money from your account so you need to have it there inthe first place. As far as i know you are protected in the same way.