Credit Card newbie

MissPebbles

Hi
I'm new to all this credit card business and I'm hoping to apply for one to give me a little extra help for Christmas. Am I right in thinking I can apply for a 0% interest card and pay no interest as long as I pay off the card before the deal runs out? I'm only looking to spend on the card up until just after Christmas. Also, what sort of minimum payments can I be expected to pay? Any help is much appreciated

[Deleted User]

You can apply for one, but I doubt you will get it, with no history. May be worth one shot, but if rejected you'll need to look at the lower end of the market.

Monthly repayments on a card will (in most cases) be 1% of balance plus fees and interest.

unimaginative_user_name

You could try your bank as they know how you manage your money but 0% deals only tend to be given to those with a good record of managing their credit.

Otherwise go for a credit building card. There's a list on the main site but don't fall into the trap of just paying the minimum repayment each month. Ideally you should pay the balance in full and on time each month as that way you will pay no interest or charges. If you need to spread the payments pay as much as you can each month to minimise the interest.

R_P_W

Are you going to have extra cash after Xmas to pay it off? If no then don't run uP DEBT to pay for Xmas.

roundabouthere

Please don't do it unless you are going to pay it off straightaway. Far too many people are still paying off last years Christmas (or even ones before that) after putting it on the credit card as a stop gap. Unless you are very strict it's far too easy to use them as an extension to your salary.