Which credit card is best for my first!

mattmarsden

I am looking to get a first credit card to use mainly for purchases over £100 to get the added protection that it brings.

I have fairly good credit at the moment, never missed a payment on any credit agreement like car insurance.

I will only be paying off any purchases straight away and only using it for the "Section 75" protection.

I have I think worked out that a Reward / Cashback card is the best for me but I dont really know who offers the best option for me, any help would be greatly appriciated!!!!

Matt

Spark

As you never had any credit cards before, I would suggest taking a credit card with the bank you have your bank account with, as they will be more likely to give you one.
At the moment it is quite hard to get accepted, even for people who has an excellent credit report, as the financials institutions are tightening up their belt and don't seem to want to take any risks anymore.
With a card from your bank, you can built a good credit report and then at a later date decide to apply for another more worthwhile card.
As you will be paying your balance in full every time, it doesn't matter what the APR will be.
Of course you can still try to apply for cashback cards, but being a first timer will go against you and remember that every aplication for a credit card will show on your credit report, and if you have too many of them in a short time it will be bad for your credit ratings.

exel1966

mattmarsden wrote: »

I am looking to get a first credit card to use mainly for purchases over £100 to get the added protection that it brings.

I have fairly good credit at the moment, never missed a payment on any credit agreement like car insurance.

I will only be paying off any purchases straight away and only using it for the "Section 75" protection.

I have I think worked out that a Reward / Cashback card is the best for me but I dont really know who offers the best option for me, any help would be greatly appriciated!!!!

Matt

Sorry to shatter your illusion, but I'm afraid you're not really in a position to ask which is best for you without an established credit history, but should be happy with any card you can be accepted for.

For a first credit card it's always best to try your own bank as you will have already built up a relationship with them and 'should' find it easier to be accepted, though that will depend on how you manage the accounts you already have.
Alternatively there are cards aimed at first timers from Barclays, Vanquis, Capital one and more who will start you on a minimal credit limit, but high APR whilst in your account infancy.

Of course, nobody here can say who will/won't accept you as the selection criteria is unique to all and sooo complicated !

Good luck !

B.E.N

Try the Halifax All-In-One card. I've just got this as my first credit card, only got it about a month ago and they gave me a £900 credit limit :beer:, no previous business with them at all.