Credit Card Newbie MoneySavers Guide Discussion Area

CovOne

Hi all,
Firstly would just like to say i am unsure where to post this so have posted it in both the CC forum and the Loans forum so if it is unappropriate in here please let me know

The advice i need is a situation for my girlfriend.... Her mum lives abroad but still wants to help her financially with Car Insurance Holiday Expensive etc, her mum doesn't have a lump sum of cash to give so was saying to her to take a loan out for around £2000 and her mum will pay the re-payment's regardless of the interest occurred and the amount of time taken to repay. Her mum plans to get a settlement from a divorce in around 12 months and was planning on paying the full amount off then.

I haven't a-lot of knowledge in the area but have thought about the possibility of a Interest Free Period Credit Card in-stead of a conventional loan..

My Girlfriend Work around 25 hours a week and earns around £6500 Per Year
I was hoping to get some advise on which method may be:
A. the easiest for her to obtain
B. the option that is the best in terms of incurring the least interest etc

I have read into Credit Card Tarting etc but i am unsure on the fact that she has no original debt in the first place, but just wants the ££££,will it be the same principle to open a CC With 0% balance transfer's, use the case onto that card and pay it into the account and then pay the smaller repayments on the CC rather then taking the loan ???
Any help/advice would be greatly appreciated
Thanks

mikey1927

hi just wondering if people would provide some opinions, i have never had a credit card so new to this,

I want to buy 2 football season tickets costing £978. The club is offering to provide 4 monthly direct debit intrest free payments.

i have the money to buy the tickets.

But I am considering paying by direct debit either on 0% interest card so the payments are smaller or a cashback card as i can earn money on my spend.

I am considering the two cards recommended the halifax & morgan and stanley

but as i have no credit history will i be able to get accepted?

any advice welcome

Linda32

mikey1927 wrote: »

hi just wondering if people would provide some opinions, i have never had a credit card so new to this,

I want to buy 2 football season tickets costing £978. The club is offering to provide 4 monthly direct debit intrest free payments.

i have the money to buy the tickets.

But I am considering paying by direct debit either on 0% interest card so the payments are smaller or a cashback card as i can earn money on my spend.

I am considering the two cards recommended the halifax & morgan and stanley

but as i have no credit history will i be able to get accepted?

any advice welcome

Hello,

I'd try for the Egg Money card, make sure its Egg Money and not Egg Card. This is a cashback card and you get 1% cashback on all purchases.

You said you have the money to buy the season tickets, so make sure you pay the balance each month, otherwise they charge you interest.

Sorry that sounds harsh, I'm not meaning too, just pointing out that its important, as you say you are new sorry.

I hadn't had a card for year but got excepted with them. Very low credit limit at first though £1,200, I asked them to up it abit because I was paying it off before the interest free period was up :rotfl: they did, by £500.00 :rotfl:

Its always worth a go applying, then you either get the card or a letter saying No Sorry.

mikey1927

is there much difference between egg money & morgan & stanley?

Elephantangel

ANOTHER NEWBIE IDIOT QUESTION
Need to apply for first ever cred card...decided to check cred rating...tried the annualcreditreport.co.uk-cuz free?! But allas not enough information...so where do i stand? Can I just go ahead and apply for any card? or do I carefully select a few and time them so I don't get 'bad' rating??? UM HELP

tcannabellarose

Which credit card would be best for me?? I always use my debit card for ALL purchases, but realise if I can "s p r e a d" the balance then pay off the amount before any interest is charged, then its for me. Which one though? I purchase online, I have only a student loan as debt, I am 32 years old, I work, and I am always in the black. Which one would work best for me?? Answers on a postcard to....

lfcarethebest

Probably an obvious question but say i got credit of £2000 on my card.

Can i put all this in my savings/high interest current account and then pay it off every 30/45 days so not to incur charges and then pay it back in to the savings/current acc so that i can gain interest on it?

can this be done within the same bank?


Thanks

mikey1927

hopefully this will be my last newbie question

i am looking at apply for egg money or morgan & stanley

I was just wondering if they need to get in touch with my employers? or is this standard practice for all credit cards?

swayze

mikey1927 wrote: »

hopefully this will be my last newbie question

i am looking at apply for egg money or morgan & stanley

I was just wondering if they need to get in touch with my employers? or is this standard practice for all credit cards?

I don't beleive they actually contact your employers. They just like the information on their systems.

swayze

Elephantangel wrote: »

ANOTHER NEWBIE IDIOT QUESTION
Need to apply for first ever cred card...decided to check cred rating...tried the annualcreditreport.co.uk-cuz free?! But allas not enough information...so where do i stand? Can I just go ahead and apply for any card? or do I carefully select a few and time them so I don't get 'bad' rating??? UM HELP

Personally I would just take the plunge and go for it. You have to start somewhere. But don't go ott when applying. Just go for one at a time and see what decision is made.
Also how long have you been living in your current address for? If its more than three years and you are on the voters role then you stand a good chance.