Credit Cards...

Zee786_2

Hi i just want some solid advice about credit cards. . . here is my situation. . .

i have never owned a credit card in my life, i am 24 years old been working since i was 16. . i bank with natwest. . i am very sensible with my money. i am thinkin of applying for a credit card purely for purchases only. . so just some extra help for spending when hitting the high streets. .

i have been looking at the natwest website and it says you can only apply if your earning £10k a year and i am earning £9 and half k each year. .

so need help natwest is out the question what others are there out there?

and i dont understand all these apr rates aswell can someone explain all this to me how does it all work?? lol i might sound annoying but nowadays everyone owns a credit card or more. so just wanna join the hype lol

thanks xxx

Cycrow

don't rule out natwest, if you have been banking with them for awhile you might have a chance.
i would go into natwest and talk to someone about adding a credit card onto your account.

as far as APR goes, this is the interest and is a percentage over the year.
so if you have a balance of £1000, and 10% apr, you will pay £100 interest for the year.

The interest is usually calculated daily and added each month. So that £100 interest would be £0.27 a day and just over £8 a month.

Credit cards often have an interest free period 0% on purchases. So if you clear the balance before this is up you wont be charged any interest

R_P_W

Help hitting the high streets? Joining the hype?

Sounds like recipe for disaster

dresdendave

Zee786 wrote: »

. i am very sensible with my money.. .


so just some extra help for spending when hitting the high streets. .


nowadays everyone owns a credit card or more. so just wanna join the hype lol

Unless I've misinterpereted statements 2 and 3, they don't seem compatible with your opening remark.

Zee786_2

Well i want it for buying goods and i will pay it off in full etc

Thank you @ cycrow. . Advice very good given thanks alot
Yeah i will go into branch and see what they say. . Want to get the hang of
Usin it aswell and how it all works x

The_Boss

Zee786 wrote: »

lol i might sound annoying

Don't worry, it's nothing that some proper punctuation and not using 'lol' so much can't fix.

geekonthepc

I'm 19 and got a Barclaycard Initial (my first card) late last year with a below-par 29.9% interest rate and £400 limit. Last week my bank, HSBC (who I've banked with for 4 years), offer me a 19.9% card with £1250 limit. Neither of the interest rates really affect me at all as I pay both cards off in full every month (for credit building purposes), but it does go to show how banks that know how you manage your money will judge you far better.

Zee786_2

Thanks geekonthepc yeah i guess thats true only they can judge you. Yeah will try that out

Davie2909

Do you have a lot of disposible income? I have over double your annual salary and dont have lots of dispoible income due to out goings etc.
I would recommend that you look closely at your income and outgoings before dabbling with Credit cards as you could potentially get yourself into trouble!

jonesMUFCforever

OP you say your salary is £9.5k - do you have any other income such as interest on savings or share dividend income??
If so it is acceptable to add that to your base salary.