New to credit cards, need help!!

lozzie650

Hi, I have just had to get a credit agreement to afford something (one of those things out of your hands, boo). I was told when I was getting it that it would be cheaper for me to transfer the credit agreement to a credit card (virgin was recommended) as the interest on this would be cheaper.

I was thinking of getting a credit card anyway in order to get a credit history. Do I get one with 0% on new payments or 0% balance transfers to get rid of this credit agreement?

Thanks

Moggles_2

Do I get one with 0% on new payments or 0% balance transfers to get rid of this credit agreement?

Neither. From what you've told us, it sounds as though you need 0% on money transfers.

To maximise the 0% period, 16 months is currently available to new customers from Virgin. There's a 4% handling fee, but no other charges until the introductory 0% expires.

http://uk.virginmoney.com/credit-card-v3/

Whether this is a good idea is another question. If you will have savings to pay off your credit card balance before the 0% period ends, that's great.


Just be aware that Virgin has a habit of raising the standard rate to anything up to 34.9% APR variable, when the promotion ends :eek:

Moggles_2

I was thinking of getting a credit card anyway in order to get a credit history.

For tips to improve your chances of credit card acceptance, have a look at the *Credit Rating: how it works and how to improve it guide*, especially Martin's *Manage and Improve your credit score* article

http://www.moneysavingexpert.com/banking/credit-rating-credit-score#improve