A credit card virgin

DanielaNOVIS

Hello everyone. My first posting!

I have never had a credit card in my life (am already 28!) and I think it is time to get one, as it keeps making my life difficult when I want to rent a car or do specific purchases, especially when travelling.
I never had one because I didn’t see the point. I have never been in overdraft or in debt, and I am very much on top of my finances, although I am not a well-off person.

To my question: I would like to apply for a credit card but have no idea what to go for and where to start, and even what to look for. I would like to shop around and get a good deal and maybe some freebies (I keep seeing that credit card companies are fighting with each other for customers…. )

Another consideration: I might be leaving the UK quite soon, will that be a problem if I will issue a credit card here and live somewhere else?

Can anyone recommend me what credit card to go for, or know of a good deal running at the moment or can help me in anyway???

Many thanks in advance..
Daniela

Bokken_2

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1103212597,43859
Welcome to MSE
have a read of these articles and take it from there.
once you have understood the credit card articles ,Balance Transfers,Purchases, the relevant APR's,cashback and have that straight you will have a good idea what cards to look at.
You may want to check your credit rating with a credit scoring company first like Experian.Also read a bit about the credit scores otherwise you could be applying for cards that are beyond your current status as you may very well have no previous credit history.If this is the case the first port of call to get a credit card is normally with the Bank you have your accounts with.
once your credit history is established you can happily apply to other credit card suppliers.Check your credit file first and take it from there.
Post back here if your stuck.

DanielaNOVIS

Thanks for replying.

I had a little read in the link you sent me. Morgan Stanley looks quite intresting to me, altough I would have liked to get arimiles. Is it only Natwest that gives airmiles?

As to my credit rating. I loged into Experian, as you recommended me, but after feeding all the information, I realised i need to give them my credit card details- which I don't have, a bit of an absurd situation. I cant check my credit rating cause i dont have a credit card? Is there another way?

many thanks,
Daniela

YorkshireBoy

DanielaNOVIS wrote:

I cant check my credit rating cause i dont have a credit card? Is there another way?

You can order your statutory credit report from Experian (and the other 2 agencies if you want).

The cost is £2 for ordering online (debit card) or by post (cheque). You can also phone them up and pay £2.50 by debit card.

http://www.experian.co.uk/consumer/index.html?order

HGLTsuperstar

morgan stanley do a flying points card, called "buy and fly", go to https://www.morganstanleycard.co.uk

DanielaNOVIS

Many thanks to all replys!
But sorry, I need to go back to basics.
What is the point of checking my credit rating, really? What am I going to learn from it?
Isnt the fact that i never had a card before, never been in an overdraft and i always save money makes me a good potential credit card customer?
What sort of data do the credit card comapnies look at, when they check your ratings?

YorkshireBoy

DanielaNOVIS wrote:

...I need to go back to basics.

Then Martin's Credit Rating article would be a good place to start.

exel1966

DanielaNOVIS wrote:

Isnt the fact that i never had a card before, never been in an overdraft and i always save money makes me a good potential credit card customer?
QUOTE]

No, I'm afraid not. It can actually be quite detremental to you. Credit card companies need to establish what risk you are to them prior to giving you credit and by having a past history of borrowing / repayments helps them to assess whether to initially give you credit and determine how much to give you.

DanielaNOVIS

Thanks for replies guys, again!
What is it about posting a THANK YOU? (as seen on exel1966?) can anyone explain?

I have read the articles suggested by YorkshireBoy and it was indeed very helpful. I realised credit scoring companies probably do not have any information on me, since I have been living in the UK for 6 years, but never registered for election or borrowed money...

I therefore just gave a ring to my local council and asked to register for the electoral vote, and they said they would send me a form this week.
How long do you think i need to wait from the moment I sent the registration form back, before I will check with Experian my credit scoring? Does it take long time to update?

Cheers everyone!!!

DanielaNOVIS

My boyfriend very recently applied for a Natwest (his acc bank) CC, and yesrerday recieved a letter that he has been refused!
We assumed they refused him cause he his paying off a loan at the moment...
but after reading this,im thinking it also might be cause he is not registered for election. Do u think its worth for him to register and then trying to appyl again, maybe with another company?

Is it a bad thing to apply another time for a CC, after being refused?

sorry for so many questions......