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Should I stick with one card or get another?
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Fosterdog
Posts: 4,948 Forumite
in Credit cards
I've always avoided credit and finance but last year I decided to get a credit card. We were planning a holiday that fell through so were going to use the card for spending abroad.
I have a nationwide select credit card, it was 20 months 0% BT which meant nothing to me as I had no debt to BT, it also has 0.5% cashback and 0% on purchases for 12 months.
As the holiday got postponed I used the card for some other big buys throughout the year and I used it for almost all spending to make the most of the cash back. All day to day spending was paid off within a week of the spend and the big buys spread over 2-3 months where I had the money in an ISA gaining me interest.
The interest free on purchases ends next month, I've cleared the card this week so will only have a some day to day spends to pay off next month. I have an £1800 limit on there but have never gone over £900.
Now that the interest free period is ending I don't really know what to do, I don't know much about credit cards and how to make them work for me.
Should I stick with this card and still use it for the cash back and just pay it off in full every month?
Should I cancel this card and try to get a similar deal on a new one?
Should I keep this one and try to get a similar deal on a new one, leaving me with two cards?
I got the card planning on booking the holiday in advance and paying it off over a few months and then using it for spending abroad at 0%(was going to be a fortnight in new york so not cheap). New york is on the back burner for another year or two due to personal reasons but we are thinking of a holiday in the sun next year instead. If I keep just this one card I'd have to pay the holiday off in one go but I'd rather spread over a few months.
What is the best way for me to do this?
I have a nationwide select credit card, it was 20 months 0% BT which meant nothing to me as I had no debt to BT, it also has 0.5% cashback and 0% on purchases for 12 months.
As the holiday got postponed I used the card for some other big buys throughout the year and I used it for almost all spending to make the most of the cash back. All day to day spending was paid off within a week of the spend and the big buys spread over 2-3 months where I had the money in an ISA gaining me interest.
The interest free on purchases ends next month, I've cleared the card this week so will only have a some day to day spends to pay off next month. I have an £1800 limit on there but have never gone over £900.
Now that the interest free period is ending I don't really know what to do, I don't know much about credit cards and how to make them work for me.
Should I stick with this card and still use it for the cash back and just pay it off in full every month?
Should I cancel this card and try to get a similar deal on a new one?
Should I keep this one and try to get a similar deal on a new one, leaving me with two cards?
I got the card planning on booking the holiday in advance and paying it off over a few months and then using it for spending abroad at 0%(was going to be a fortnight in new york so not cheap). New york is on the back burner for another year or two due to personal reasons but we are thinking of a holiday in the sun next year instead. If I keep just this one card I'd have to pay the holiday off in one go but I'd rather spread over a few months.
What is the best way for me to do this?
0
Comments
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You can carry on using it and getting the cashback without incurring any interest as long as you always settle every statement in full before the due date.
However if you want to get another 0% on purchases deal then, yes, you will need to apply for another card that is offering that.0
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