Credit Card Newbie MoneySavers Guide Discussion Area

anniecave

x__Indigo_x wrote: »

REALLY silly question:o but i just want to be sure.... if i make all my purchases on my new CC [ 0% for 56 days - capital one basic card] i can pay it off in full every month cant i? i dont incure a charge for paying it off from another bank account do i?ie paying it off using my debit card

[ i have just applied for one to just build some sort of rating and will DEFINITELY pay it off in full every month i aint paying no intrest lol :P and i wont use it to withdraw cash ]

if you pay it off in full before the due date then yes you will get charged no interest.

The easiest way to do this is to ask the card provider to take the FULL amount by variable direct debit from your bank account.. this normally takes a couple of months or so to get set up and it will say that the payment will be taken on your credit card statement.

Alternatively you could pay via online banking or bill payment from your current account each month to your card.

I think some providers will take debit card payments but I'm not sure all do.

amzy85

Hi, I really need some help: In the next couple of years I am hoping to get a mortgage (I currently still live in the family home). Thinking ahead for this I know I will need a good credit rating/report.
I currently have NO credit cards, overdraft...I only have a student loan, which isn't taken into account. I only have a few direct debits from my current account.
What I would like to know is if getting a credit card will help boost my rating? I would only use the card for small amounts and would pay it off in full every month. I have heard that doing this would make me less attractive to banks and therefore in the long run hurt my rating rather than help it. Is this the case? If so would I be better off staying as I am for now?

I would appreciate any advice on this subject. Thanks.

claireabell_2

Please help! I am new to the world of credit cards and need some assistance.
I currently owe several hundred pounds on a catalogue and recently wondered why the balance was not reducing as quickly as i'd hoped.. When I checked, I realised that the interest i'm paying is astronomical. I would like to pay this off using one of Martin's "top pick" credit cards but would this be classed as a balance transfer or a new purchase?
I normally pay an amount every month online using my debit card.
I would be grateful for any advice!
Thanks.

Unangoni

Q. Can a credit card be used to pay rent? Does that count as a purchase or is that a cash advance?

If someone would help with a list of good ways to use a 0% on purchases for 12 months credit card, where the minimum credit is £500, that would be quite helpful.

Total newbie, never had a credit card before.