Credit Card Advice Needed

mr_sifter_2

Hello everyone
I'm currently looking to take out my first credit card in order to increase my credit rating. I finished university last year and I'm now in employment.

I only want a credit card to increase my credit worthiness and therefore would be paying the card's balance of straight away. I've read through some of Martin's articles and it would appear that using it for my day-to-day expenditure would be the best method. I won't be using it to buy luxury items as I'd prefer to save up. Then at the end of each week (or sooner) I could pay the outstanding amount off. I'd prefer to be more conservative in this way, so that I don't get carried away using the card for unecessary items and ones which I cannot afford. Also, I get paid weekly so it would be easier to manage as opposed to the monthly direct debit.

As I would be using it like this, I would prefer some kind of reward in return. Again, from my research I'm toying between the idea of BMI's Amex (spend £250 in 90 days, get 20,000 airmiles) and Tesco's clubcard credit card. However, with the latter it would be of the least benefit to me as I don't go to Tesco so would miss out somewhat on their vouchers.

Any further advice or tips would be much appreciated.

bengalknights

You will probably find that if you never had credit before then you are restricted to your own bank and subprime lenders until your history builds up.

Try the likes of vanquis etc first.

bigadaj

You will need to wait for the statement every month before paying as it could get quite confusing making four separate payments a month, and if you pay them immediately you won't actually be using credit, and so are unlikely to build up much useful credit history.

In terms of which cards then the capital one card recommended on this site offers the best returns, not sure if you would qualify but a single application won't hurt your credit report too much.