No Credit Card Please!

lellie

You don't pay fees on the card - get a direct debit to pay it off each month - then it's just like a debit card but you get the security of mastercard for expensive purchases and shopping online..

superscotsman

A credit card can be useful. However credit cards are really for people who have regular income. When you get your credit card, cut it in half and keep the pieces. That way you can use it to open an ebay account to sell the collectable stuff you find in charity shops, car boot sales, etc, and you will not have the opportunity to succumb to temptation while visiting shops. You can still use it to ring up for tickets for rock concerts, which can be auctioned off on ebay.

Amba_Gambla

i was told i had to take the cc with my student HSBC account, but that was way back in 2000!

was pretty peeved about that, because I didn't need extra temptation to spend money I didn't have

I think i've used it about twice in the last 5 years......

sockospice

If you're worried about running up a huge bill, you can always ask for a low credit limit, maybe £200, and then at least you know you've got it in an emergency.

Savvy_Sue

sockospice wrote:

If you're worried about running up a huge bill, you can always ask for a low credit limit, maybe £200, and then at least you know you've got it in an emergency.

It's a good idea I saw suggested somewhere else to review your credit limits anyway and make sure you haven't got 000s available when you don't need it and couldn't repay it. Apart from that, if someone nicks your card or otherwise starts using it fraudulently, they won't be able to go on too much of a spree.

The only thing is, when I phoned Debenhams and asked them to reduce my credit limit, they said I wouldn't be able to raise it in future. I would certainly argue with them if inflation meant that my limit wasn't viable any longer, but at least it means they won't be suddenly doubling it because I'm such a good customer!

gizmoleeds

Wouldn't having a credit card and occasionally using it and paying it off straight away help build up your credit rating?

pavlovs_dog

credit cards are not the root of all evil if you can resist the temptaion to use it.

i got mine for emergencies, it has been a godsend on the occasions where i cant use my maestro.

i am now in the process of applying for a tescos credit card, which i intend to use as a debit card (clearing the balance in full each month, but making the most of earning clubcard points on things i would have bought anyway).

jr666

i am now in the process of applying for a tescos credit card

egg money's where it at. cashback (2% until mid dec!) and i got one as a student.

Karnam

egg isa brilliant card. and they give them out to students easily

ditzymuppet

I got offered on with my HSBC account (all those years back in 2003!!) but I turned it down....

My brother got made to have one by Natwest (this year) so my mum has it stashed away at home in a 'safe place' so that he has that for emergencies should he need it

Good luck, and tell your daughter to make the most of university...join the clubs, get involved. Its a great experience and not necessarily all about drinking and getting wasted (honest!)

~ditzy x