Credit card advice

Bananaaax

Hello everyone,

I'm new here and new to the world of credit card. Let me give you a bit of my background so you can understand why I'm here.

I've just recently graduated and I have been offered employment on a grad scheme, but this means I have to move out of my parents house and live on my own (scary times!)
I have never ever touched a credit card... Mainly because I've never needed one, having lived at home until now. (I'm about to turn 21 by the way)

I have a debit card, an ISA and I have had my credit checked by Experian who say it's in the 970 figure (unsure what this is exactly, but was told this is really good)

So I don't have a problem with my credit as I have never missed a payment for contracts and direct debits in my life. I've also never been over drawn, despite having a whopping £1500 available for me to do so.

The issue is, I have no idea about what credit card to get. Frankly, I don't have ANY idea what I should be looking for when trying to find one for me.

Can anyone please give me a bit of advice or like a checklist on what to look for when I'm searching around?

Oh and, the credit card will be used as an emergency thing. Maybe used for the first few months to get me on my feet, as well as my over draft if I need it.

Thanks for any help which is given. (Oh and I'm with Santander bank)
Lana x

Tixy

As someone who has never used a credit card your options for a first card might be limited.
Assuming you have started your new graduate job then it might be worth applying to your own bank to see if you are eligible for a card with them. Try this before you move out, as moving addresses is seem as a potential sign of instability.
You only having very recently started your new job will also potentially go against you.

If they decline you then you might find you need to start by getting a subprime card to start building up a credit history. If you do have to go for the subprime route then I would caution against using this for anything you cannot afford to repay in full the following month due to the high interest rates.

Depending on what initial costs you expect to incur, then you might want to look and see whether using an overdraft/credit card is the best option. You might want to have a look at whether your employer offers any relocation loans or even consider whether a graduate loan from your bank would suit you better.