Never had a credit card before - no idea where to start!

twirlypinky

Hi, i hope you guys can help me.

I'm 27, divorced, and living in shared accomodation at a Hospital (not as a patient I might add).

I've been told by a mortgage advisor that i need to get a cr card to help my cr rating because apart from a mortgage that as of early last year I've had nothing to do with (name removed), I've never had any credit, everything big that's been purchases before was in my ex-husbands name because he had a good rating.

I've never wanted one before because I associate cr cards with debt, and don't want any more! I worry that I'll get silly and just end up with a large balance on it.

Anyway, it's been suggested that i just use it for fuel or groceries and pay it off every month just so I've got a cr history.

Does anyone have any recommendations? I really know nothing about cr cards at all.

Twirlyx

Mic2904

Hi,

I would try to get the Capital One CC. I applied for 1 last week and finally got my first one with them.

The interests are high as high can be, but if you pay it off right away, I guess this card is nearly perfect. You might get a small limit like me though, but its enough to do basic things and get your score up.

Try www.capitalone.co.uk

Markus

twirlypinky

Thanks, I'll take a look.

tx

seeya23

why not try flybe card http://www.flybe.com/card/default.htm
or
mbna https://wwwa.applyonlinenow.com/UKCC...AP-11111-15431
or auqa card http://www.aquacard.co.uk/
Capital One https://www.capitalone.co.uk/creditcards/secure/application.jsf
Vanquis Visa http://www.vanquis.co.uk/home/home.aspx
Monument Visa http://www.themonumentcard.co.uk/
Barclaycard Visa http://www.barclaycard.co.uk/creditbuilder/index.html

twirlypinky

seeya23 wrote: »

or try
why not try flybe card http://www.flybe.com/card/default.htm
mbna https://wwwa.applyonlinenow.com/UKCC...AP-11111-15431
or auqa card
http://www.aquacard.co.uk/

I'll take a look thanks. Are these cards particularly good for anything?

Someone in my office just suggested the Asda card because my fuel will be cheaper if i use it there.

Poet49

Hi Twirly, if you don't really need a credit card, for the love of your sanity, don't go near them, they are the curse of modern society and you will get ripped off by the CC providers, we all do, I know because I am currently struggling since losing my job.

twirlypinky

Poet49 wrote: »

Hi Twirly, if you don't really need a credit card, for the love of your sanity, don't go near them, they are the curse of modern society and you will get ripped off by the CC providers, we all do, I know because I am currently struggling since losing my job.

Well this is why I've always avoided them until now, I don't really want the association. The only debt i have is to family, and that's only because my ex was in so much credit card and loan debt when we split that there was no equity left.

I just don't want to be turned down for a mortgage, or pay a higher rate than i could have, just because I've got no real credit history.

JayZed

Access to credit is a good thing, not a bad thing, as long as you use it responsibly. Just don't assume that because you have a credit card you can "afford" to buy a plasma TV, take a holiday in the Bahamas etc, and stick to the same spending limits that you do now. Just put your weekly shopping etc on the credit card instead of a debit card, and set up a direct debit to pay off the entire amount oustanding every month.

Also, don't get sucked into taking Payment Protection Insurance ("PPI"). The card provider might try hard to sell this to you and convince you that you're taking an awful risk by not having it - just ignore them and decline. If you're paying off your balance every month there's absolutely no reason at all to have PPI.

Mic2904

twirlypinky wrote: »

Well this is why I've always avoided them until now, I don't really want the association. The only debt i have is to family, and that's only because my ex was in so much credit card and loan debt when we split that there was no equity left.

I just don't want to be turned down for a mortgage, or pay a higher rate than i could have, just because I've got no real credit history.

And that is excactly why Capital 1 Card would be good. I would assume you only get a 100-200 Limit anyway for a start. While you use it, you get your credit score up.

If you cant afford it, dont use your CC, simple as that.

If you spend more than you can afford, than obviously there is a price to pay...

Just be wise and everything is fine....

anniecave

at the start, you start with a basic credit card. After a while (not sure how long) you can apply for the more mainstream card market. With these you can get better deals, like for example cashback, or money off fuel.

If you have a current acount, try whoever you are with for that, they may be able to give you a credit card.

And if you are responsible and pay off every month, then it will start to build up your credit history ready for if you do want to get a mortgage in the future.

Merlinexcalibur

It's already been said by Poet49 ... I was watching a local news report earlier, about a lady who had £31000 in debt on 11 cards. £8000 of which was interest/charges. She gave a very strong warning to anyone asking for credit cards.

I can only offer a suggestion. But it's ultimately your own decision. I probably wouldn't have heeded advice all those years ago - two cards I obtained when I had plenty of spare cash, I just got them for the sake of it it seemed - but be aware that, when things go wrong with credit cards - and go wrong they can, lose your job without warning, then you will receive no sympathy from any CC company, let alone the DCA they inevitably set on you - it will be an anchor around you waiting to happen. It will drag you down if things go pear shaped.

As someone else said, stay well clear of PPI. It is utterly useless and the call taker gets a bonus on the sale.

Credit cards can be useful when you need that extra thing but they can also be the bane of your life when it doesn't go quite as planned. And, right now, companies are using some hard sell to literally throw the things at you. And they usually end up throwing them at very vulnerable people, on very low incomes. Who are tempted because they don't have enough each week to make ends meet. It seems like a miracle at the time. Until they start getting heavy. It's quite obscene when you think about it. Immoral if nothing else.

But it's your choice and no one can make it for you.