Card for a 19yo

rwhunited

opinions4u wrote: »

I've read the post. All of it.

You may well struggle to get a 0% card anyway, but that's not the point I'm trying to get across.

The reality is that far too many people try to spread their finances by borrowing, don't adjust their spending patterns and simply manage to increase the debt that was meant to solve things.

You know you've got a £3k insurance bill coming up, but haven't saved for it. Now you want a holiday too.

I've seen too many people hit this slippery slope at a young age. Patience and saving is better than debt. Even if your intentions with that debt are positive.

You obviously haven't read all the posts then, as you would have seen, my insurance is £1100, and the £3000 is including the holiday. I have saved, I have £16k in savings so if anything bad does happen I have a back up, but I know I won't do that as I am in a secure apprenticeship paying reasonable wages so I worked out I will be able to afford this, but I just need another few months of saving.

stephane_2

You'll never get a card with that kind of limit....you might get one with with a £200 to £300 limit.
If you have £16000 in saving....then just use that and put back what you've would paid on the credit card.

opinions4u

rwhunited wrote: »

You obviously haven't read all the posts then, as you would have seen, my insurance is £1100, and the £3000 is including the holiday.

Fair enough. £3k in total then.

I have saved, I have £16k in savings so if anything bad does happen I have a back up, but I know I won't do that as I am in a secure apprenticeship paying reasonable wages so I worked out I will be able to afford this, but I just need another few months of saving.

Strange for somebody who posted "The thing is around the same time I have around £3000 needing to be paid for car insurance, holiday and theme park tickets, I cant afford to save this amount by May but I will be able to pay it off in the months following."

Well done on having £16k. You suggested you didn't have enough in savings though. It's what you typed.

stephane_2

His post does not make sense....he contradict himself....saying he won't be able to save enough until may....but yet at 19y he has £16k in savings....something does not add up here.

rwhunited

BY MAY, if I took it out of my ISA yes I would be able to afford to pay it off in 1 go, but I would rather buy on a credit card with 0% and pay it back than withdraw from my ISA.

I said I cant afford to save, not didn't have enough in savings. I could take a certain amount out of my wages by then, but I would have to be tight with my money.

grumbler

19 y.o. with 16K in ISA that you don't want to touch.... Well done!
I think there are very few such 19 y.o. in UK.

opinions4u

Whatever.

Apply for your card, see what happens and if successful use it sensibly.

Good luck.

sammyz1

At 18 Halifax wouldn't even give me a Debit Card, but then again, I had nothing under my name.

I started off with a Easy Cash Current account, went in a year later, was able to get a Debit Card.

I tried to buy a phone contract at 20, but got denied. So I put it under my sister's name but the money out of my bank account. Then 3 months later, rang Orange and transferred the contract to my name.

I don't think Halifax would give me a credit card, although I never tried. Aqua (3% cashback) did though. Interest is near enough at 50% but I know what I can and can't afford back.

Sounds to me like you need to build your credit history before banks are going to trust you with a big limit.

nathand_2

BugsyBrowne wrote: »

I don't get it TBH capital one only give out £500 limits on their dodgy high interest cards and normally very strict on their limit increases hence the reason they dish these type of cards out in the first place.

How have you managed a 3.5k increase in 1 year?

The card they gave me was the Classic which is a high interest card. 35%.

I hadn't even had the card 6 months when they gave me my first increase (£1600 limit). It was actually the end of last month when they bumped it up to £3900.

My income rose quickly and I have other cards with high limits which probably helped.

BugsyBrowne

nathand wrote: »

The card they gave me was the Classic which is a high interest card. 35%.

I hadn't even had the card 6 months when they gave me my first increase (£1600 limit). It was actually the end of last month when they bumped it up to £3900.

My income rose quickly and I have other cards with high limits which probably helped.

Sorry but I'm not buying any of that.