Do I need a credit card?

iamreverend

I've just graduated and currently work as a supply teacher. I've been offered a full time post which starts in January.

My girlfriend is a full time student and graduates in July.

We live in a rented for £500 pcm. I've a graduate account and ave £800 left and my girlfriend has around £100.

Rents due in a week and council tax needs paying.

Do we:
A) extend overdrafts - don't think we can
get a 0% credit card - the tesco one looks like it will suit us
C) something else


Any advice would be great. We don't spend a huge amount and have cut down on everything!!!

Any advice please

Thankyou

MarsdenCuckoo

A credit card offering 0% on purchases is always handy but choose wisely. Don't apply for more than one at once as it affects your credit 'foot print'.

Don't think you'll be able to pay your council tax via credit card but, obviously, if you use a 0% for purchases logic dictates that should free up some cash funds to pay your other commitments.

p00hsticks

iamreverend wrote: »

Rents due in a week and council tax needs paying.

I'm not 100% sure why you've stated this in relation to the title of the post, but in general I'd say it's the start of a very slippery slope if you're looking to put basics like rent and council tax on a credit card (and probably not possible to do so).

LeeSouthEast

Credit history is good.

Holiday? You won't be able to hire a car without a credit card(*).

Lots of useful reasons to have one. Just be sensible with it.

(*) yeah I know there are ways around this.. but they're all a pain in the !!!.

iamreverend

p00hsticks wrote: »

I'm not 100% sure why you've stated this in relation to the title of the post, but in general I'd say it's the start of a very slippery slope if you're looking to put basics like rent and council tax on a credit card (and probably not possible to do so).

I'm unsure about getting a credit card. I honestly don't know that much about them. I've never had any financial problems before and it's a temporary thing as opposed to a long term plan.

one problem is that we are due to leave our current accommodation in January and live somewhere else (still looking) and the letting agent will want one month in advance and a hefty deposit.

Just need some advice about short term cash and where to get it.
thanks for other replies though

p00hsticks

iamreverend wrote: »

one problem is that we are due to leave our current accommodation in January and live somewhere else (still looking) and the letting agent will want one month in advance and a hefty deposit.

Just need some advice about short term cash and where to get it.
thanks for other replies though

If your credit history is good you could try getting a credit card that has a special introductory 0% purchases offer and use it to put groceries, petrol etc onto it. This should free up the cash you'd normally spend on those to give you a bit of spare for a deposit. Make sure you set up a direct debit to meet the minimum payment each month though (as if you don't meet the minimums you could lose the 0% offer), and pay off the total balance before the offer runs out (and double check exactly when the end date is).

Like LeeSouthEast says, it's difficult to hire a car or book a hotel these days without a credit card. You also get extra consumer protection for large purchases (over £100) if you pay by credit card. So well worth having if used sensibly.

McKneff

Please try very hard not to put priority debts on a credit card.
If you cant afford it this month, how are you going to afford it next month if you have even more to pay out.

There are so many threads on here that start like yours and 3 years down the line they are desperate for help because they are waist deep in debt.

Please just be vigilant.

Joe_Bloggs

Option C might be to budget. MSE Martin has views and tools here on the matter. If you get credit cards or not you still have to have to budget.

I doubt anyone in your position could have amassed savings to cope with a change in circumstances. If you can budget for a 0% on purchases card to tide you over until you start your new post and beyond then fine. The 0% terms do not last forever and all too soon the card company will try and trap you in a spiral of interest breeding debt. You have to calculate on saving more than you spend to eventually pay off the card before the interest free period ends.

There may be ways in which your employer could help with travel costs. This may help decide where to live. There may be staff at your future post who have researched the local housing market and have some intelligence based opinion.
J_B.

borders_dude

MarsdenCuckoo wrote: »

Don't think you'll be able to pay your council tax via credit card but,

Where I live you can pay with a credit card.

keadd

you can put your council tax on a credit card it you need to!

iamreverend

Thanks for the replies and the words of warning about CC. It's mainly the irregular supply work that is not too helpful. Thankfully in January I will be receiving a monthly salary.

I don't drive (currently learning) and fortunately the place where we are moving to (Crosby, Liverpool) has some decent houses and apartments for rent nearby to where I will be working so this will mean my travel costs will be zero.


Looking into credit card details now - treading carefully before making a decision.