Should i get a credit card to build a rating?

Mosphaiti_2

Hello all, im new to the forums.

I've never really liked the idea of credit cards, however i've got my first job and wondering now and wondering if i should get a credit card and buy some things with it i have money saved for, and pay back before any interest in the hope that it will build my credit rating ?

Im not to sure how the credit system works so any help would be great

thanks!

is_the_kettle_on

In my uneducated opinion, yes.

I think that using a credit card can influence your 'credit rating' positively which may be useful when applying for other credit products in the future. However credit cards are for many the beginning of a downward spiral of debt that is not easy to recover from. If you are in any doubt about your ability to control impulse spending you should think carefully.
Do people who know you well think you could handle one?
Will you keep your savings pot growing even though you have access to funds via credit cards?
Do you always know where you stand regarding your money?

If you answer no to any of these I would consider a credit card to be risky.

Consumerist

A credit card can be your best friend if you know what you are doing but otherwise they can be your worst enemy.

I agree with the previous post; don't go there if you can't handle them, or yourself, properly (financially, that is). They are, however, a convenient way to build up a credit record while you're learning the ropes.

ironlady2022

Maybe go for one with a small limit eg £250. Or say you spend £10 at the shops put £10 into a kitty at home or a bank account and when your bill arrives you know you have the money to pay it off. It will help you I. The future if you ever apply for a loan or mortgage.