Credit Card Noob.. Needs Help!

Greensprout

Hey all!

I'm looking at getting my first credit card but I'm getting a bit confused.

Basically I'm wanting to buy a new PC (Blew my last one up), I can't afford to buy one out right.
I'll be building the machine myself and will be spending £300 max.

Which CC would be best for me? I'll be wanting to pay about £50 each month off and I won't be doing any further spending on the card..


Any advice would be much appreciated.
Thanks,

King_Of_Fools

In which case, you want to get a card with 0% on purchases. You will need one with at least 6 months if you are going to pay £50 per month.

There are a few on offer at the moment, for example:

10 months:
http://www.sainsburysbank.co.uk/credit_cards/cca_creditcards_zone.shtml

9 months:
http://www.nationwide.co.uk/creditcard/ClassicCard/default.htm
http://www.halifax.co.uk/creditcards/one.shtml

P.S. If you can control yourself, it would make more sense to only pay off the minimum each month (Probably around £7.50) and put the remainder of the £50 you were going to pay into a high interest account. That way at the end of 9 or so months you can pay of the full remaining amount but have around £5 to spare in interest you have earnt!

Greensprout

I currently bank with Lloyds TSB and I'd be able to 'view' the card online..

Is it any good? http://www.lloydstsb.com/credit_cards/advance_card.asp

This is only 6 months on purchases..

King_Of_Fools

Greensprout wrote:

I currently bank with Lloyds TSB and I'd be able to 'view' the card online..

Is it any good? http://www.lloydstsb.com/credit_cards/advance_card.asp

This is only 6 months on purchases..

If you have never had a credit card, your are more likely to get accepted by the company you already bank with so that sounds like a good choice.