Low limit credit card - mainly for fuel.

Murphy_1989

Hi everyone. New on here.

Currently in the Royal Navy and travel home every two weeks.

I currently have a high credit score, but want to make it stronger, ive been told a good way to this is to take a credit card out and pay for things like shopping, fuel etc on it. Then when you get home transfer the money over straight away to pay it off, so effectively im borrowing and paying off straight away.

Im baisically wanting to get a low limit credit card around 200 just to use for fuel each month. Ill be wanting to pay on the credit card at the pumps but when I get home transfer the money over.

Are there any good ones about if this is a good idea.

Thanks

Phil

RichL74

Are you on the electoral roll?

Barclaycard Initial / Vanquis / Aqua?

Higher APR's, but seem to start with lower credit limits.

CLAPTON

the normal way a credit card works is that you use the card (e.g. at petrol stations etc)
they send you a statement every month
then you pay at least the 'minimum amount' by the due date

if you are away a lot then it's best to set up a direct debit for the full amount so we never forget to pay on time and damage your credit rating.

try your bank for a CC in the first instance

scottishblondie

If you pay it off straight away then it won't help your credit record at all - the statement amount would inevitable be 0 each month, so to anyone looking at your credit record it will appear to be unused.

As clapton has suggested, pay it off in full monthly when the statement has been generated (setting up a DD will make it nice and easy).

Murphy_1989

Thanks for the quick replys. Ill have a browse to see whats about. May have to get a larger one to keep the apr down. As for electrol roll im not sure.

Phil

jackyann

My Co-op one has a limit of £1000, which I rarely reach except near Xmas.

Pipz

Murphy_1989 wrote: »

May have to get a larger one to keep the apr down.

If you intend to pay off the full balance each month it won't really matter what APR is on the card as you won't be paying interest on the balance (as it will be 0).

If you think you might not clear the full balance then have a search around for low APRs.