credit card newbie question

timmyjan

hi guys,

i want to buy a phone (nokia e72). the cheapest one i have seen is on handtec.co.uk
i dont know how credit cards work never used one. especially 0% on purchases.

i am going to get some money soon. with in two months. the whole £300. i was wondering if i should get one of those virgin 0% on purchases for 12 months card.


1. I dont know how 0% on purchases works?

2. if i were to buy a phone for say £300. Can i make two payments of 150 and 150 or three payments of 100,100 and 100 with in tree months. Would i be charged any interest on it or any kind of fee on this purchase?

3. and if i were to buy something for say £300 and my bill comes after the month and it shows £300 to be paid. if i dont pay it for 2 months would it still say 300 every month upto 9th month?

regards
tim

stephane_2

timmyjan wrote: »

hi guys,

i want to buy a phone (nokia e72). the cheapest one i have seen is on handtec.co.uk
i dont know how credit cards work never used one. especially 0% on purchases.

i am going to get some money soon. with in two months. the whole £300. i was wondering if i should get one of those virgin 0% on purchases for 12 months card.


1. I dont know how 0% on purchases works?

2. if i were to buy a phone for say £300. Can i make two payments of 150 and 150 or three payments of 100,100 and 100 with in tree months. Would i be charged any interest on it or any kind of fee on this purchase?

3. and if i were to buy something for say £300 and my bill comes after the month and it shows £300 to be paid. if i dont pay it for 2 months would it still say 300 every month upto 9th month?

regards
tim

If you've never had any credit cards in the past then I would say that it is very unlikely that you will be able to get the Virgin credit card, simply because you have very limited credit history. Best place to start would be with you bank, they may give you a card, probably with a small limit to start with and interest are likely to be high.
In the event that you are able to get a 0% credit card, then you can decide to pay just the minimum payments until the end of the 0% offer then pay the full balance at the end of it or pay the balance in 3 or 4 payments, and as it 0% on purchase, you will not pay any interest or charges until the 0% offer ends.

stephane_2

timmyjan wrote: »

hi guys,

i want to buy a phone (nokia e72). the cheapest one i have seen is on handtec.co.uk
i dont know how credit cards work never used one. especially 0% on purchases.

i am going to get some money soon. with in two months. the whole £300. i was wondering if i should get one of those virgin 0% on purchases for 12 months card.


1. I dont know how 0% on purchases works?

2. if i were to buy a phone for say £300. Can i make two payments of 150 and 150 or three payments of 100,100 and 100 with in tree months. Would i be charged any interest on it or any kind of fee on this purchase?

3. and if i were to buy something for say £300 and my bill comes after the month and it shows £300 to be paid. if i dont pay it for 2 months would it still say 300 every month upto 9th month? If you were not going to pay for 2 months, then it will have a huge impact on your rating. You always have to pay at least the minimum of the full balance, depending on credit card providers it vary from anything between 1% to 5%

regards
tim

..........