First Credit Card

dook_2

Hello!

I'm hoping someone can offer me some advice. I have read the 'newbie credit card' thread but I have another question.

I am looking to get my first credit card as I will be spending 6 weeks abroad over the summer and I want it just in case of emergency. (I'm going to Africa to work in a remote town so it's not like I'm going to have millions of spending opportunities, the card will be just for emergencies). Is there anything I should look out for (are there extra charges for using different credit cards abroad?). After reading the newbie thread I realise that I should get a cashback card and do all my spending on that and then pay it all off in full each month, should I therefore go for the best cashback card (Morgan Stanley) straight away or should I apply for one for my trip away and then get a cashback card when I come home?

I am a bit scared by credit cards and I am trying to do everything according to instructions!

Thanks x

YorkshireBoy

dook wrote: »

I have read the 'newbie credit card' thread...

...but have you read the Overseas Spending article?

youknowwho

dook wrote: »

Hello!

I'm hoping someone can offer me some advice. I have read the 'newbie credit card' thread but I have another question.

I am looking to get my first credit card as I will be spending 6 weeks abroad over the summer and I want it just in case of emergency. (I'm going to Africa to work in a remote town so it's not like I'm going to have millions of spending opportunities, the card will be just for emergencies). Is there anything I should look out for (are there extra charges for using different credit cards abroad?). After reading the newbie thread I realise that I should get a cashback card and do all my spending on that and then pay it all off in full each month, should I therefore go for the best cashback card (Morgan Stanley) straight away or should I apply for one for my trip away and then get a cashback card when I come home?

I am a bit scared by credit cards and I am trying to do everything according to instructions!

Thanks x

If you are going abroad then you should also try to look for a card with no foreign fees, Natwest and Post office are two. You will find that most cards do a 0% introductry rate on purchases aswell which will be handy if you do use the card.

Also if this is your first bit of credit, you may not get a accepted for a second card when you come home. It would be a good idea to pick the one that will be more benefical for you in the long run, so cashback seems a good idea. And also u said it would be for emergency, so u might not even use it abroad, therefore the no foriegn fee would be irrelevant.

I think you should get your self the cash back card, stick with it and pay off in full evry month. By doing this you will be building a good credit score and your getting cashback in the process.

Dont be scared of credit cards, just remember a few things...

Never withdraw cash (only if your going to pay it back in full at the end of the month, and remember to pay off the estimated interest aswell.)

Always get a minium payment dd set up, this is to stop any late fees being applied to your account incase you forget one month. (But you should always pay ,ore than the minimum via another method)

Don't ever rely on your credit card, too many ppl do this and get screwed.

Mozette

Do you not mean Nationwide rather than NatWest? Or is NatWest Fee free abroad too?

dook_2

YorkshireBoy wrote: »

...but have you read the Overseas Spending article?

I have now... thanks!

Went with youknowwho's advice and signed up for the cashback card.

I think it's good that I've got the fear about credit cards, I'm hoping it will keep me out of debt, I can see that I may very easily get sucked in so I'm trying to retain my suspicion of credit card companies. I'm a student and can't afford to give them all my money!

Thanks for your responses

brendang_2

hi,can someone please try and help me figure something out,i have just recieved a credit agreement from capital one (1st credit card) but all it says is sign and return the agreement and my card will be with me in 7-10 days,however it does not state the credit limit i will be given yet it states the total charge for credit is to be £257.78 and the apr is 34.9%,any clues as to what the credit limit is therefore likely to be,thanks in advance for any advice or replies

brendang_2

anyone with advice regarding the credit limit much appreciated

ontheup_3

your limit will be £200 the other sum is what it will be at the end of the month if you use the whole limit and get charged interest if you was to only pay the minimum !

HTH

brendang_2

cheers and thanks for the reply