Do I need a credit card?

lton1

I just wanted some opinions. I'm 25, and still with my parents at the moment (yes yes I know embarassing!) but I am about to move into a shared house with some of my friends (my parents are moving away and I live with them. I want to stay in my job and not relocate), I am considering applying for a credit card just as a safety net.

I am very organised, and good with my money, but I just wanted some extra assurance that I will have something to fall back onto if there's say... a problem with my car and it needs fixing and I don't want that much money to just fly out of my account at once, or if I desperately need petrol/food shopping etc towards the end of the month before payday. I know I will pay it off quickly each month I use it, and I would never let it accrue interest, as I had a store card for a while and only cancelled it because I never used it. I know I will only use if it necessary.

In your opinions, is having a credit card worth it for the reasons I've listed? I've never had one before, and I've read loads about them before coming to this point...but I just feel I want some extra assurance there incase I need the funds. I don't like having an overdraft on my bank account.

Thank you for your help!

Maestro.

If you're good with money credit cards can be beneficial, ie cashback. If you're bad with money at all they can ruin you. Choose wisely...

tom717

If it is only to be used in emergencies and you can stick to that then I don't see why not. When I first got a credit card it was in case I needed to fly back home in an emergency when I was abroad. Since then I have been using it for normal shopping and paying it off in full as this is supposed to help your credit history.

seriousDFW

Sounds like you'd be able to manage it well without getting into difficulties.

They are useful for many reasons, one of which is travel - if you are staying in a hotel they often want one for authorisation when you check in. They can be a godsend as a stopgap every once in a while, just beware not to buy things that are luxuries or treats you can't afford, and don't use them to subsidise your spending every month.

Plxply

Credit cards aren't just for having credit, they're also a useful tool for building a good credit history if you have good discipline. You can do what I did and instead of using your debit card to pay for everything, use the credit card and it off in full each month. Of course I have to stress it's important that you trust yourself to do this.

Rupert_Bear

lton1 wrote: »

I just wanted some opinions. I'm 25, and still with my parents at the moment (yes yes I know embarassing!) but I am about to move into a shared house with some of my friends (my parents are moving away and I live with them. I want to stay in my job and not relocate), I am considering applying for a credit card just as a safety net.

I am very organised, and good with my money, but I just wanted some extra assurance that I will have something to fall back onto if there's say... a problem with my car and it needs fixing and I don't want that much money to just fly out of my account at once, or if I desperately need petrol/food shopping etc towards the end of the month before payday. I know I will pay it off quickly each month I use it, and I would never let it accrue interest, as I had a store card for a while and only cancelled it because I never used it. I know I will only use if it necessary.

In your opinions, is having a credit card worth it for the reasons I've listed? I've never had one before, and I've read loads about them before coming to this point...but I just feel I want some extra assurance there incase I need the funds. I don't like having an overdraft on my bank account.

Thank you for your help!

LIfe can go on without a credit card and its nice the money in your pocket is yours and not some financial institutions. However that said I have quite a few credit cards and these were from my stoozing days.

The card I use mostly is my former Egg money cc. Every time i use it I get 1% cashback. I use it for general things like paying my council tax, water bills etc.

As long as you remain the master of the card and do not end up being its slave it can be financially gaining.