Best credit card fro rewards/improving my credit rating?

loz_the_guru

I'm looking at applying for a credit card to boost my credit rating. I intend to pay it off in full by direct debit each month, and it wont be used as 'credit' just to improve my rating/hopefully snag some decent rewards, and also for the security aspect. I've a few questions if anyone would be so kind as to help point me in the direction?

1. Whats the best card for me right now? A high credit limit isnt necessary as i'll probably be spending less then £1000 each month. A decent rewards/cashback/points system would be nice.

2. Am I right in thinking that the I can set up a direct debit which will automatically deduct the correct amount from my account, e.g. it'll be completely hassle free/automated to pay off each month?

3. Also, is it correct to say that the only transactions I cant use it for would be online gambling websites and cash withdrawls from ATM's? All other stuff (groceries/petrol/online shopping etc) will be fine right?


I expect its helpful to know a little bit about my financial circumstances. I have an outstanding student loan of about £9000, and a student overdraft although this has been paid off in full. I also have paid direct debits to two mobile phone companys for the past three years. I dont have any other debts. I earn just below £1000 per month after tax.


Hopefully someone can point me in the right direction, really confused at the mo!

izools

From the sounds of things there isn't really anything wrong with your credit standing other than a low income and potentially short time at your address & with your employer...

The vast majority of rewards cards (Barclaycard Goldfish, Amex Platinum Cashback, Capital One World Mastercard, etc) look for a minimum annual income of £20K.

Who do you bank with? I would have thought they are the best bet to get a card from assuming your current account is run acceptably (no charges etc).

And yes, you can set up a DD to automatically deduct the full credit card balance from your bank account each month to save from paying any interest

dylanuk

If you really want a rewards credit card might be worth looking at some of the MBNA reward credit cards.

They can be quite specific rewards though, so make sure you pick something you'll use. These cards don't have a minimum income requirement, just ask for a regular income.

AA Rewards - for motoring
BT credit card - earn discounts off your BT phone bill
Sony
Play.com

See them all here... http://www.mbna.co.uk/creditcards/rewards-credit-cards.html

There's also the ASDA credit card if you shop there (offers points for ASDA). Similarly, Sainsbury's (for Nectar points) or Tesco Clubcard credit card - none of these have minimum income amounts.

noah271007

Tesco CC has a minimum income of £5,000 requirement.