My Very First Credit Card

trixie4

I am 24 and a credit card virgin. I've browsed some of Martin's guides and found the variety of cards a little overwhelming so please fire what you think could be an ideal card at me!!

I have no debt, earn £26k, spend on my debit card and will be able to pay in full each month without getting carried away.

I've started travelling quite a bit with work so think a card will be a good back up if something is unexpectedly not covered abroad. I imagine I'll do a lot of personal spending on it in October when I'm away in California.

I like to keep things simple by using the same bank (HSBC current account) but a good profit (cashback or rewards) will obviously override this.

So... any help is very very much appreciated, I'm a fish out of water!

Thanks

Trixie x

HappyMJ

If you are going to pay it back in full each month without fail then a cashback card is best. Any card suggested on the link http://www.moneysavingexpert.com/cards/cashback-credit-cards is fine if you meet the income and spend requirements.

If you are going to spend money outside of the UK then a card that does not add too much in loading fees is best. Any card here http://www.moneysavingexpert.com/travel/cheap-travel-money is fine. Note the super high interest rates on the first card. It must be paid off in full without fail.

If an emergency comes up and you may not be able to pay it back in full then a low interest card is best such as the ones on this link. http://www.moneysavingexpert.com/cards/best-0-credit-cards You will need to switch to a balance transfer card at the end of the term if the debt has not been repaid.

You will not achieve all aims with one card.

gt94sss2

trixie4 wrote: »

I am 24 and a credit card virgin. I've browsed some of Martin's guides and found the variety of cards a little overwhelming so please fire what you think could be an ideal card at me!!

I like to keep things simple by using the same bank (HSBC current account) but a good profit (cashback or rewards) will obviously override this.

As its your first credit card, I suggest you apply for one with HSBC.

Credit card companies tend to not like giving cashback cards to customers who don't already have another credit card...

Regards
Sunil

System

For spending abroad, the halifax clarity card is one of the best you can get - no fees at all or exchange rate loading. In terms of cashback, if you also opened a halifax current account, you would also get £5 reward every time you spend at least £300 on the card each month.

You might not want the hassle of switching bank of course.

For cashback, the aqua reward card might be worth a look, as is also good for spending abroad and gives you 3% CB (up to £100 per year). You MUST pay in full though! Plus as it is a sub prime card, you should have no trouble getting accepted. Expect a low credit limit though.

rb10

teepee83 wrote: »

For spending abroad, the halifax clarity card is one of the best you can get - no fees at all or exchange rate loading. In terms of cashback, if you also opened a halifax current account, you would also get £5 reward every time you spend at least £300 on the card each month.

... and also £5 per month on the current account, so £10/month in total.

You will need to have a reasonably decent credit rating (probably no missed payments on your current account/mobile phone, and be on the electoral roll) in order to get this card.

trixie4

rb10 wrote: »

... and also £5 per month on the current account, so £10/month in total.

And £100 for switching apparently. Will look into this. Thanks!