What card to get?

riderross

I have been accepted for the Halifax Cash Back credit card at 19.9% APR. Right a few things I need to get my head around before I actually go ahead with this,


Paying balance in full - How do I go about making sure that I pay the balance in full every month. What forms do I need?
Has this now affected my Credit score now that I have applied?
Is it a bad idea taking out a credit card? eventhough I will pay it off in full every month.


Thanks guys

angelicmary85

Morning,

CC's aren't too bad...if you can control your spending!! You can use online bankingto pay off your balance in full every month or you can set up a DD so the Halifax will take the whole amount instead of you doing it. You can also pay through GIRO Slips or cheque.

naijapower

Credit cards are not bad if you are responsible and can control your finances. Best bet is to set up DD to pay full amount amount monthly.
Within a few months, your score would grow(providing you dont click the apply button tons of times) and you would be laughing...and rejoicing

never-in-doubt

riderross wrote: »

I have been accepted for the Halifax Cash Back credit card at 19.9% APR. Right a few things I need to get my head around before I actually go ahead with this,


Paying balance in full - How do I go about making sure that I pay the balance in full every month. What forms do I need?
Has this now affected my Credit score now that I have applied?
Is it a bad idea taking out a credit card? eventhough I will pay it off in full every month.


Thanks guys

Hi

Well done! - So, what limit did they give you to start? I'd be looking to get a full bank account with visa debit card from them now - obviously you're not that high a risk......

Nice one - to clear balance in full, when you get the statement either ring and pay over the phone, send a cheque, using online banking, or ring them and set up a dd for full amount to be cleared.

Hint - best to set DD for min payment then a few days after this you pay full balance - helps your limits get higher & better....

riderross

never-in-doubt wrote: »

Hi

Well done! - So, what limit did they give you to start? I'd be looking to get a full bank account with visa debit card from them now - obviously you're not that high a risk......

Nice one - to clear balance in full, when you get the statement either ring and pay over the phone, send a cheque, using online banking, or ring them and set up a dd for full amount to be cleared.

Hint - best to set DD for min payment then a few days after this you pay full balance - helps your limits get higher & better....

No idea what the credit limit is- where to would I find it?

I did apply for a cash card(Visa electron) about 2 weeks ago. They were SUPER quick in replying to the credit card application!

Thanks for your help

Ross

never-in-doubt

riderross wrote: »

No idea what the credit limit is- where to would I find it?

I did apply for a cash card(Visa electron) about 2 weeks ago. They were SUPER quick in replying to the credit card application!

Thanks for your help

Ross

Basic accounts aren't that good, you need a full visa debit, electron are !!!!!! mate....

Cash Card (easycash/cardcash accounts) are done done manually, i.e. processed manaually by post, so takes ages, why dont you get a full bank account set up?

Credit limit will show online banking or on your letter when card comes......

Keep us posted please and well done - enjoy!

riderross

never-in-doubt wrote: »

Basic accounts aren't that good, you need a full visa debit, electron are !!!!!! mate....

Cash Card (easycash/cardcash accounts) are done done manually, i.e. processed manaually by post, so takes ages, why dont you get a full bank account set up?

Credit limit will show online banking or on your letter when card comes......

Keep us posted please and well done - enjoy!

Easy cash account because I'm going to be booking flights with ryan air so to avoid the charges.

never-in-doubt

riderross wrote: »

Easy cash account because I'm going to be booking flights with ryan air so to avoid the charges.

aaaah - clever

makes sense now, but still get a full account - will help your credit as easycash does not report to CRA's....

riderross

Question at top.

Thanks

riderross

UPDATE 07/05/2009

I have now received my Halifax Credit card!! with a limit of 800.00.

If I don't spend on it will the cancell the card?