First credit card

kopite_123

CannyJock wrote: »

From your previous posts it sounds like you applied for a few others before getting the Cap One card? In 12 months time these searches will have come off your credit report too.

Yes I applied for several before hand which I later found out would stick on my report, wasn't sure how long for though. I asked for feedback and Barclay's said they could have offered me a card if I was earning £10,000 or more pa, as I am a student this is near impossible for me only doing about 15 hours a week.

I have been told its better having no credit than bad credit, it just seems to hard to establish.

Zack1

NickX wrote: »

Or you pay on a 0% Credit Card, keep the money elsewhere earning interest, and pay the Card off at the last opportunity.

You will find you've actually managed a small discount on your holiday - should pay for some beers at the airport :beer:

Generally yes, but not for an 18 year old with no credit history . I tried to do exactly that and applied for 0% ones for purchases or for balance transfers to add to my savings, but got rejected from the lot and only offered a Vanquis card and a Natwest one. Went with Natwest which is a slightly credit lower limit because that's tied in with my student account, Mastercard rather than Visa (which some places don't take) and the APR is half of the Vanquis one, but like others have said that doesn't matter if you pay off in full every month.

I got rejected from Captial One too, and I tried them second, after Natwest

kopite_123

Tbh I don't even know why Capital One accepted me, I have very low income and no credit history and from what I hear several people, you and some of my mates in similar situations, have been rejected by them. And APR defiantly wont come into it as I will be paying the balance in full at the end of each month.

nzseries1

kopite_123 wrote: »

Realistically I could probably only afford to pay about £200 a month off it due to other commitments,

I know it's been said before, but if this is all you can afford to pay off then this is all you should spend.

However, from what I've read here you have your head screwed on well, and I wish you all the best! I just don't want to see you on here in a year saying how your debts are out of control and you can barely afford the minimum payments.

I got a credit card when I was 19. I wasn't out of debt from it until I was 27. If only I had found this forum earlier.

kopite_123

nzseries1 wrote: »

If only I had found this forum earlier.

I am made up I found this forum now or I too would be in so much debt come a few months time. Its helped me a lot more than the 'advisors' at my bank ever could.

CannyJock

kopite_123 wrote: »

Its helped me a lot more than the 'advisors' at my bank ever could.

*cough* sales people *cough*

kopite_123

CannyJock wrote: »

*cough* sales people *cough*

Definitely haha