Do I Need a Credit Card?

Maddy25

Hi

I want to buy a PC about £500, I'm 20 years old and a University student with no income. I was going to pay for it with a Debit Card, but I keep on hearing Martin saying on TV to use a Credit Card for big purchases.

Firstly, I don't need a credit card for anything else, as I want to steer clear from debt;)

Secondly, I don't really think I'm "eligible" for one as I checked on Barclays website (who I have a current account with) and it said I wasn't eligible. Is there any other way to secure my payment? As they don't accept PayPal either, only debit or credit card:(

It's not a big company, but they have mainly good reviews.

And no, I can't ask my parents as their not really happy with me "wasting" my money

Thanks in advance for any advice.

I need advice URGENTLY please.

grumbler

Maddy25 wrote: »

Firstly, I don't need a credit card for anything else, as I want to steer clear from debt;)

Very few people can afford buying a house outright. You seem to be lucky to be one of them.

Secondly, I don't really think I'm "eligible" for one as I checked on Barclays website (who I have a current account with) and it said I wasn't eligible. Is there any other way to secure my payment? As they don't accept PayPal either, only debit or credit card:(

Well, I guess you do have a debit card.

Re a credit one, if the bank you have an account with refuses, then the only way is to try Bad-credit Credit Cards
In this context 'bad credit' means no credit history as well: Credit Ratings

And you don't have to pay the full price by a CC to get full protection: Section 75 refunds

The_Boss

Buying the computer on credit card can provide extra cover in the event that something goes wrong.

Also, it is a great idea for you to start using a credit card to start to build a credit profile. You can always use it for small purchases (even £1) and pay the statement off in full when received. It's a small step that over time will help lenders fo assess you for future cards, loans, mortgages etc.

If you can only get a high interest card as mentioned by grunbler then it is even more important that you repay the full amount.

The_Boss

Just as a thought, back in the day I had a student NatWest account that came with credit cards and a student Barclaycard. Are there similar products available for students thesedays?

The_Boss

storecards wrote: »

Do not worry if you are not apply for Barclays website, You can check at storecards.us where you can get credit cards without having money. They will offer you credit card by which you can shop without having money. I also apply for credit card at storeacrds financial help i think you also can get your problem's solution. Have a Good Day...........:beer:

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phona

Hi,
I'm also a full time student. I have a credit card that I got when I was just starting university aged 18 years and one month with absolutely no credit history (not even a phone contract) - so it is possible!
Most students I know (myself included) have a credit card with the bank they have their student current account with. I checked and it doesn't look like Barclays offer a student credit card, so might it be worth switching your current account? Typically the credit limit is £500 - so just enough to squeeze your computer onto!

The_Boss

phona wrote: »

Hi,
I'm also a full time student. I have a credit card that I got when I was just starting university aged 18 years and one month with absolutely no credit history (not even a phone contract) - so it is possible!
Most students I know (myself included) have a credit card with the bank they have their student current account with. I checked and it doesn't look like Barclays offer a student credit card, so might it be worth switching your current account? Typically the credit limit is £500 - so just enough to squeeze your computer onto!

Great advice from someone also in that position. Who is your current account with and is it a specific student account?

phona

It's the Student Royalties account with RBS. It's a condition for having the card that you have the current account.
http://www.rbs.co.uk/personal/students.ashx

I have a friend who has a similar arrangement (current account and credit card) with Bank of Scotland so I assume Halifax is the same.

jamesml

As has been suggested, some banks (I think NatWest as well) offer student credit card accounts.

Here you go - NatWest for example.

Mr_K

£500 is a lot for a pc these days, do you need to spend that much ? Unless you're doing video editing/playing games, this is a good deal for half that money:-
http://www.hotukdeals.com/deals/cheap-dell-pc-windows-8-i3-2130-1tb-hard-drive-4gb-ram-wireless-usb-3-265-87-6-quidco-1476460

The_Boss

Mr_K wrote: »

£500 is a lot for a pc these days, do you need to spend that much ? Unless you're doing video editing/playing games, this is a good deal for half that money:-
http://www.hotukdeals.com/deals/cheap-dell-pc-windows-8-i3-2130-1tb-hard-drive-4gb-ram-wireless-usb-3-265-87-6-quidco-1476460

Not quite half the cost and when you buy a monitor for it, the price will be not far short of what the OP wanted to pay for a potentially inferior product.