Credit Card Newbie MoneySavers Guide Discussion Area

indierocker85

Never had a credit card before and thinking that perhaps I should start using one to build up rating and for security purposes etc (Safer than debit). I shop online for DVD's and Games for example and nearly always make use of cashback sites. I would like one that pays some sort of cashback if possible however given that I havent had a card before, I am not getting my hopes up. I was rejected for the Egg Money card paying 1% cashback. So any ideas on what I should do or which card to go for. I bank with Barclays and I know they do Barclays Initial???

any help would be well received

countrymusicfan

I am on benefits and managed to get a Capital One card. They do have some that have cash back, but the one I have doesn't. I would love to hear about getting cashback on the net. I am interested but haven't been able to find out more.

chembird

new to the mse forums as of ten minutes ago but been reading site for ages, its great! i can't find anywhere a reference to transfering a balance to a credit card from a cahoot loan account. am i to assume that when transfers from credit or store cards to other credit cards are allowed, the new credit card would accept a balance transfer from a cahoot loan instead? i racked up a bit of cahoot debt as a student, am now gainfully employed and wanna get rid of this debt asap especially as the cahoot interest rate has climbed astronomically recently. i don't wanna apply for a credit card and leave a footprint on my credit file if the card isn't going to accept a balance transfer from cahoot, you see. any of you expert moneysavers have advice on this please? thanks.

niceshoes_2

http://forums.moneysavingexpert.com/showthread.html?t=276019&page=40

See this thread for details of what you are trying to do - Its something I am looking into myself with the help of other MSE'rs.

Welcome, by the way!!

bow1508

I've never had a card thats just mine but Martin advises that if you want to pay insurances monthly then you're better off paying on a credit card then paying it off monthly from there. Any tips on how to go about this and what kind of card I would be better off with? Do I then set up the price of the insurances divided by 12 months to do in on a direct debit? Are credit cards happy to do this? i'm so confused all help very very much appreciated only want it for this and emergencies as i'm heading out alone into the world of budgeting. Thanks

Freddie_85

This is a very basic question but one that the Barclaycard customer services simply could not answer. I would like to know at what point (exactly) would my transactions carry over to the next months statement.

My situation - I have just been given a brand new Barclaycard, I haven't spent any money on it yet and will not be spending a great deal in the future. However, because I am going on holiday in just over two weeks time I may need it for the hotel. The problem is my holiday starts on the 3rd of March and my online statment says my next payment (which is currently £0.00) is due on the 10th of March, the next statement would be on the 10th of April.

If I used the card on the 3rd of March would I have to pay off the balance by the 10th? Surely there is a cut-off point where by any purchases are put onto the next months statement, but I would like to know this exact date.

Thank you for any help.

maxc

Bobuszka wrote: »

I’ve been using my Nationwide FlexAccount card to withdraw cash when abroad and am quite happy with it. Occasionally, however, there have problems with whatever the equivalent of the Link network is when abroad, or doubts because no Visa logo displayed, or the machine is not working for whatever reason.

My back-up has been to maintain a small amount in a First Direct account giving access to the alternative Cirrus/Maestro/Switch network.

Unfortunately the amount held in the First Direct account is sufficiently small to fall foul of First Direct’s recent proposal to start charging me £10 a month unless I take out another product which I am unwilling to do.

Can anyone advise what other bank accounts use Cirrus, or any other alternative network, or other back-up solution?

Bit of a late answer you've probably changed banks by now but regarding charges by first direct if you open another account with them ie a savings account they don't charge so set up a savings account with say a fiver leave it a couple of weeks then put it back into your current account leaving the savings account in place you will not pay any charges! i know this because i also had a small amount in a current account and was worried about the charges but they said a long as i had a savings account even though it had nothing in it i would not be charged
Max......

PIP1979

I'd like to apply for my first credit card. I have never used a credit card and only pay using my bank debit card. I'm only now getting wise to the credit cards/credit rating impact that being an unknown quantity may have.

However, when looking into this I remembered that nearly ten years ago, as a student, I signed-up for a Banclaycard credit card (admittedly, only to get the free gift incentive!). I never used the card and repeatedly cut it up. I do not recall ever formally canceling it. I called to check and barclaycard have no record of me. Would they have closed my card account because it was dormant? Also would this unused credit card affect my chances of applying for a credit card now?

Also I'm registered as self-employed and I rent a flat but all my financial documents are registered to the same fixed address of my family home - (if any of this info has any bearing on the answer).


i don't have a credit card and only pay using my bank debit card. I'm only now getting wise the credit cards/credit rating impact that thsi may have.

tony23

Hi All, i am new to credit cards(most people asking questions seem to be!)I am thinking about using a 0% interest free c/c to buy a car with. But i am more than likely to buy private, so i will need to draw out about 4.5k on the card.Can this be done? As I havent used c/c before, i'm really not sure how you go about drawing cash out on the works..I will be getting enough money in the summer to then pay off the card in full.Can anyone advise me which card to get??Many thanks..

loanvirgin

Okay-I am total dunce where borrowing money is involved! so please excuse my naive question. I would like to buy a car-£2000 is my limit. i can manage to pay approxmatey £20.00 a week. I think that the low % interest rate might be the safest way on a credit card, but I read that there is a fee for withdrawing cash. The question is can I just go into the bank and withdraw the £2000 without being charged? Alternatively would it be cheaper to simply get a loan???? I have read some of the advice but my head is spinning with too many options. I guess my credit limit is OK I applied for a credit card last year with a £3000 limit. But I havnt used it and dont want to because of the high interest rate.
Any advice would be greatly apprieciated.
Thanks