I'm a credit card virgin and I'm scared!

kerri_gt

Craig_W wrote: »

Well I got accepted. So there's another first achieved!

Well done :beer: now make sure you set that Direct Debit up when you get your card and the details to pay off the balance in full each month (never forget you're borrowing someone else's money that has to be paid back if you don't want charges). We don't want to see you on the Debt Free Wannabe board in a few month's time

Craig_W_2

Thanks for the help and advice, guys.

Don't worry - I hear you all saying I need to pay it off in full every month! That is my intention and I think I've already set that up. There was a section on the application that asked whether I wanted to pay of the minimum amount, a fixed amount or the full amount. I said I wanted to pay the full amount and then a direct debit thing came up which I agreed to. So I think that's it done.

I don't plan on using it for anything other than ASDA home deliveries at first (should save us around £150+/yr which is a lot to us ). After a while, once I learn more about cc's, I may see if it's worth doing anything else with it. (That is, unless anyone can tell me any shrewd money-making tips for a newbie credit card owner).

Thanks again. :T

p00hsticks

Craig_W wrote: »

I said I wanted to pay the full amount and then a direct debit thing came up which I agreed to. So I think that's it done.

Check your credit card statement when it comes to make sure that it specifically says that the full amount will be taken by direct debit, and if it doesn't, make sure you check with them and if necessary pay the balance in some other way.

It can sometimes take a month or two to get the direct debit set up and they usually instruct you not to assume it is in place until your statement confirms this.

KiKi

billymadbiker wrote: »

How would putting the card into credit (aside from losing any intrest paid on the money being elsewhere) cost anything?

Some cards charge for a positive balance.

KiKi

fozmcfc

Craig_W wrote: »

Well I got accepted. So there's another first achieved!

Another congrtats from me :j:beer:

Craig_W_2

p00hsticks wrote: »

Check your credit card statement when it comes to make sure that it specifically says that the full amount will be taken by direct debit, and if it doesn't, make sure you check with them and if necessary pay the balance in some other way.

It can sometimes take a month or two to get the direct debit set up and they usually instruct you not to assume it is in place until your statement confirms this.

Thanks, I'll make sure the dd pays the full amount.