Black Diamond Visa?

Jadek

The other day I received an invitation for a Black Diamond Visa credit card through the post. Usually I would disregard something like this as spam, but as it so happens my partner and I, who have just got our first place together, were recently discussing getting a credit card as a safety net in case the boiler explodes or something like that. I also feel it would be beneficial to improve our credit scores.

Neither of us have ever had a credit card, my partner has never had any form of credit, overdraft, phone bill etc. to his name, so I would assume his credit score is non existent. As for me, I'm the same except I have had a couple of phone contracts, one or two late payments over the last 2 years and that's it. We passed the credit check for our flat which we were warned might be a problem as we had no credit score, but I realise it's a little different for credit cards and given the current economic climate we are well aware that we'll probably find it difficult to get a card.

So I decided to have a look at this credit card, but I couldn't find much information on it, only a couple of American reviews, but they all said it guarenteed acceptance (secured card?). I'm just a little weary of it, would it be a good idea for me to apply to this card or is it a scam? I realise an unsecure card would be the better option but feel I probably won't be able to get one given my current situation, is a secured card worth it? And if so are there better ones to apply for?

Thank you for any advice, I'm rather confused and don't want to make a bad decision!

cifpower

Does it say who issues the card?

PROLIANT

http://www.creditorweb.com/creditcards/new-millennium-bank-black-diamond-visa-mastercard.html

lisyloo

The best way to deal with household maintenance and repairs is to open an account and put a bit by each month. So I would highly recommend planning and/or budgetting for both expected (maintenance) things and unexpected things (death, sickness,a ccident, redundancy).

A credit card is useful for emergencies but it sounds like secured cards need a deposit.
One of the best palces to start is your own bank as they have a detailed record on your account handling.

But expected expenditure like houshold mainteance and car maintenance should not come as a shock to you, so you should ideally budget for them in advance.

Izzie_Wizzie

Looks like a US card but this may put you off:

"Most credit cards offer a grace period on purchases, meaning if you pay the purchase back within the specific time period you do not accrue finance charges or interest on that purchase. The New Millennium Bank Black Diamond Visa / MasterCard does not offer a grace period, so in order to benefit most from this card you must be prepared to pay your purchases off as soon as possible to limit the amount you are spending in fees."


I'm sure that there are better cards out there for people with little or no credit history.

Izzie

never-in-doubt

It is American - so the OP must have had an email (probably spam)....

kissablekate

the card is actually financed by vanquis bank....as is the star card