First credit card advice

choccyface2006

Hi

I'm looking for a little advice. I am 37 and have never had a credit card. I have no debt and have always associated them with debt so have avoided them till now.

I have however had a few things on HP in the past (10+ years ago, never missed a payment ever), but nothing for years and I'm concerned that because of this I will have a low credit rating because I simply don't use credit.

I would get added protection on purcahses over £100 and hopefully my credit rating would go up so if I need a mortgage in the future (I rent)

So what would be the best card to go for? I see for some you have to have a minimum salary but mine isn't terrifically high so those are probably out.

The plan would be to use now and again and clear the balance each month, I don't think I would qualify for a cashback credit card.

My main bank is Natwest, not sure how their card compares, its all so confusing! Are the card all pretty much the same if you intend to pay off the balance, guess it doesn't really matter so much about the interest rate if I don't incur interest?

Thanks

Sarah X

DarnIt_3

I think the best step is to talk to your bank. They would be the best people to offer you the best deals according to your current financial status.

Tixy

Hi

A sensible approach and certainly worth getting if you might want a mortgage in the future.
As said above approach your bank first for a card. Of the high street lenders they will be the ones most likely to accept you. Do you have an overdraft with them at the moment?

If they do decline you then you might have to consider one of the sub-prime cards to start building a credit history from scratch. These have much higher APRs and lower credit limits, but if you intend to pay in full each statement then as you rightly say there won't be interest to pay anyway.

Wootball

Don't worry too much about being a first timer. I was accepted for the Tesco 0% 15 months card about a month ago, despite being my first credit card. I'm 25, only had a student loan and a mortgage with no missed payments so no real credit history, and have quite a low personal income (28k) and they had no problem giving me £4200 credit.