1st Credit Card

Fire_Fox

Mike1989 wrote: »

In regard to both, it is safer to buy online with a credit card than a debit card. You get more protection with a credit card rather than a debit card (maestro, switch, visa etc). Debit cards don't, in general, offer protection if things go wrong, if I'm not mistaken maestro is certainly one of those cards which you can have problems with if things go wrong. You can dispute if things go wrong but this can take a while to end. Plus this is likely to be your main bank account if you are using a maestro or visa card. So surely you wouldn't want to risk your main accounts details being stolen or used frauduently?

It is better and safer to use a credit card, more protection, and your not sharing your main accounts details with the rest of the net. Also if you pay the full amount each month for what you have purchased then you don't pay interest. There is no difference in buying something on a debit card or a credit card if you have the money in the bank ready to pay for that item. So you are better to get a credit card, buy only the things you can pay for in full, that way you are covered if anything goes wrong.

I do agree that if someone says, fingers crossed I can afford the payments, that is a sign that they should not get a credit card. As not paying can cost you in the future. But if they are sensible and can manage their money, and can afford to buy the items out right that month, then a credit card is a better way to shop online than a debit card.

Absolutely. If you are purchasing from sites that are not known to be reputable, or using PCs that are not secure then you will be better covered by a using a credit over a debit card should the worst happen. Use Firefox as your browser rather than IE, clear your cookies regularly and install AVG free or similar firewall and you are unlikely to have any problems.

I would imagine (I can't actually back this up with stats!) students are as likely to have their identity/ account hijacked with communal living - stolen post, leaving documents lying around, poor disposal. Or plain carelessness - I was forever losing my house keys/ coin purse when somewhat inebriated!

The times I would suggest using a credit card is if you are placing a large order of goods to be delivered at a much later date (e.g. furniture). With the current financial climate, it's all too likely that a company will go into administration and you are obliged to join the back of the queue for your money back.

But I wouldn't suggest someone who is heading into the big wide world for the first time get a credit card. Most of us struggled juggling domestic chores, social demands, a full-time course and a part-time job. Something gets forgotten, often the boring bits like budgeting and paying bills on time. If you hit your overdraft in the first month, no problem it's beans on toast time! If you max out your credit card too ....

shopaholicleo

Mike1989 wrote: »

And at uni they say stay away from store cards... Amazing how from time to time you can get very good deal via a store card such as M&S. Sounds a decent offer when you compare it to student credit cards.

M&S isn't a storecard, it's a credit card (Mastercard). The rate isn't too bad, I think it's around 18%, but if you don't intend to pay interest, it's fine.

3plus1

Can't you just get a credit card from one of your existing banks, use it for purchases over £100 online and pay off the balance in full every month?

If you only buy what you can afford and you pay back the balance, then it doesn't matter what the interest rates are, because they'll never affect you. Yes, you get a Switch/Maestro with most student accounts, but they give you no protection when things go wrong. I always shop online using a credit card or a visa debit card.

I had a credit card when I was an undergrad and I never felt the need to buy things with it that I couldn't afford. I don't understand why so many people don't feel as if they can't trust themselves to use a credit card sensibily!