Newbie question: please help to understand

max11

I'm looking for a credit card on which I do not pay interests, as I have enough cash on the bank account.
After a research I figured out that I need credit card that I pay off in full each month.
But which among all these types I have to look for? Are they known with a certain name?
thanks

McKneff

Virtually all credit cards do not charge interest if you pay them off in full each month. Find a cash back credit card and youre also quids in.

I have an American Express which was an introductory offer of 5% for 3 months. I used it in those 3 months for virtually everything and have quite a tidy sum to get back near Christmas. I really only use if for big things now
to cover me for a section 75 if ever i should need it.

You seem as you are not as experienced with credit cards as you should be so i would do lots of research before you actually apply for one.

max11

Yes I'm trying!
is there usually any annual fee?

not easy to understand the differences among:

• 0% balance transfer cards
• Lifetime balance transfers
• 0% purchase cards
• Low standard APR cards
• Cashback cards
• Reward cards
• Overseas cards

McKneff

There is the odd one who charge an annual fee but not many.
You just have to check before you sign on the dotted line.

Be careful on the balance transfer cards, but i get the impression you
wouldnt use these. If you ever do, dont ever use it for spending with because you end up paying masses amount of interest as they take the payment from the spending bit and then at the end of it all you do end up paying interest on the balance you transferred becuase of the timing.

al4x

i think im in a similar boat, i have just applied nd got m first card, play.com reward card, now i gotta find out how to set up the paying off from my current account, and what all the jargon means!!

Mozette

al4x wrote: »

i think im in a similar boat, i have just applied nd got m first card, play.com reward card, now i gotta find out how to set up the paying off from my current account, and what all the jargon means!!

:rolleyes:

Ring your card provider, have your bank details to hand and set up a direct debit.

max11

I came across the Post office credict card, that jas no commission on overseas transaction.
I'm Italian, i do not go back often but, added to some travel abroad, that feature could be useful.
I coudn't find any cashback card with no commission for overseas transaction. Did I miss any?
An option would be to have 2 credit cards maybe?
thanks

Karl.H_2

Pick any card you like, apply, set-up direct debit to pay off in full (make sure you ask when you phone to activate it), spend once you're sure the direct debit is set-up. As you have enough money you don't need to worry about interest rates or 0% deals. If it's your first card, I recommend using a decent card company and applying for a credit builder card. For example Capital ONE. Don't apply for store cards because they are given out like sweets and it will look better on your credit report to have someone like Barclay's, Capital ONE etc for your first card. Initially, the credit limit (the amount you can spend on the card) will be low, but it will increase over time.
Hope that helps. Good Luck.