Any advantage/disadvantage to just getting my first credit card with my bank?

kopedsa

Hi all,

I've been looking to get a credit card simply for the purpose of "building credit". I've been looking for a while but haven't had any really stand out to me (I don't intend on making any large purchases any time soon and will always pay the balance in full and on time) so it feels as though it would simply be more convenient to just get the credit card with my current bank (HSBC), at least until I've built up enough credit to bother chasing a better card.

Is there any reason this might be a bad idea? Or is it actually more convenient with no drawbacks to having all your finances in one place?

Thank you for your time!

Edit: I won't reply to your posts below so as to not bump this thread. Thanks for your responses everyone, my own bank it is!

CLAPTON

your own bank is just fine

opinions4u

Advantage: more likely to be accepted; will probably appear via the same online banking log in.

Disadvantage: right of set off if you don't pay; may not be best value on the market.

It's where I'd start though.

unimaginative_user_name

If you haven't had a cc before you probably won't get a better card than what your bank will offer. I would recommend you set up a direct debit to pay it off each month so you don't get charged for late payments if you forget to pay.

Opinions4u is right about set off in that if you failed to pay your card your bank could use money in your current account but as you are starting out this wouldn't be an issue.