Complete credit card novice - advice needed

Holmsie_

Hello all,

Completely new to this forum. Any advice would be appreciated.

I'm 25 and have never had a credit card before. I've had a student overdraft account and paid that off within the 0% interest time-frame.

I'd like to borrow roughly £2K (for a new car) and I don't mind if this is with a bank loan or a credit card (whatever's cheapest!).

I have some savings but don't want to 'blow' it all on a car.

So, would a credit card be 'best value' for me? Car finance is advertised as smooth and easy but I'd say the interest rate for some credit cards, for this amount of money, would be much better...?

And also, what type of card would be best for this purpose? I literally haven't got a clue when it comes to 'balance transfers' and 'APR' etc. so please keep it layman's!

Thanks for any feedback.

FreddieFrugal

Read this: http://www.moneysavingexpert.com/credit-cards/best-0-credit-cards


You must be well organised and able to pay off the debt before the end of the interest free period if you don't want to be saddled with it.

Also if its your first credit card, you may not be given a credit limit large enough to cover the £2000 you seek. Depends on your income and credit history.

Don't get a loan. If you have the savings you'd be much better off using those with the tiny interest rates on savings at the moment than paying back more than neccessary in high interest loan repayment.