Never had a credit card before...

Keri1988_2

But i need some furniture for my son's bedroom and i've found a set on argos. They had a credit card which states that 'No interest will be charged if you pay the cash price before the payment date shown on your next statement. Typical 29.9 % APR variable. '


I've never understood credit cards, so does that mean as long as i pay the balance on time each month i will not be charged any interest?

TIA for any help

[Deleted User]

That's right. You will need to pay in full each month.

King_Weasel

Sounds like Argos storecard, not a credit card - hence the high APR.

A credit card would be more flexible - use it at more places - BUT you do need the discipline to stay within the credit limit AND pay off in full or you still get hammered with interest charges.

Some cards give cashback BUT it's only a saving if you still spend sensibly.

dazza.mk

As above you need to pay the full balance so that it is received by the Argos credit card by the payment date shown on the statement. If the balance isn't paid for in full you will be charged interest from the date of purchase.

Keri1988_2

King_Weasel wrote: »

Sounds like Argos storecard, not a credit card - hence the high APR.

A credit card would be more flexible - use it at more places - BUT you do need the discipline to stay within the credit limit AND pay off in full or you still get hammered with interest charges.

Some cards give cashback BUT it's only a saving if you still spend sensibly.

Sorry was in a rush to type it out.

Thank you for all your advice though.

izools

However the Argos card also has interest free offers, e.g. select purchases or purchases over say #500.00 being interest free for six months or so,

So if you buy an item / spend an amount included in this sort of offer, you can still repay over a longer period and not be charged interest.

I'm not sure on the particulars, but despite the high APR, the Argos card is cheaper than any credit card when spending a lot in Argos and spreading the cost over six months or whatever

lisyloo

Make sure the payment reaches them on time by whatever method
e.g. if you send a cheque in the post you need to allow for delivery PLU clearance time on the cheque.
Most payment methods have some clearance time.

archer7

To be honest, if you don't understand how credit cards work, you need to read a lot about them before you take one out. I've had my first card for a couple of months, I took care to read the terms and conditions inside out, and I still occasionally find things that surprise me. Try reading some of the articles on this site as a starting point.

Check out how credit reports work too - given that you haven't had credit cards before, I'm assuming you don't have much of a credit history. You may not be accepted for very many cards, and those that will accept you will have high interest rates. Be sure to check out other cards to find the best interest rate for what you're buying.