Help Needed On Choosing A Credit Card!

FatTony_2

Hello everyone,
I was just wondering if anyone could help me with my predicament. I currently have a Lloyds TBS Platinum Credit Card, now they are changing mine to Airmiles Duo which I dont particulary want. So I was looking for a new card. Ive read most of the articles on this website which have been very helpfull and narrowed it down to 3.

Halifax One
Captial One Platinum Cashback
and Egg Money

I nearly always pay off my balance each month (in 2 years I've not paid fully only on 2 occasions), I don't have any current debts, and have no balance to transfer.

But I have a few 'newbie' questions to ask. . .

0% On purchases, e.g Halifax one. does that mean I don't have to pay anything each month, or do I still have to pay the minumum amount but just not get charged interest?

Cashback e.g Capitial One, I get paid money back for everything I buy, but If i dont pay my balance in full for a month I would get charged a massive amount of interest? Tho this is the same 15.9% rate as on my current Lloyds Card.

And Egg Money, This confuses me a lot!! Do I get a current account as well as a credit card? And if so does it take the money out of the savings and not off the card? Or do I 'pre-pay' my card? Which seams a bit silly to me!

Any help/advice would be greatly appreciated,
Thanks in advance

Tony

Bokkens

FatTony wrote: »

Hello everyone,

I nearly always pay off my balance each month (in 2 years I've not paid fully only on 2 occasions), I don't have any current debts, and have no balance to transfer.

0% On purchases, e.g Halifax one. does that mean I don't have to pay anything each month, or do I still have to pay the minumum amount but just not get charged interest?

Cashback e.g Capitial One, I get paid money back for everything I buy, but If i dont pay my balance in full for a month I would get charged a massive amount of interest? Tho this is the same 15.9% rate as on my current Lloyds Card.

And Egg Money, This confuses me a lot!! Do I get a current account as well as a credit card? And if so does it take the money out of the savings and not off the card? Or do I 'pre-pay' my card? Which seams a bit silly to me!

Any help/advice would be greatly appreciated,
Thanks in advance

Tony

a/ You still have to pay the minimum monthly fee normally 3% but can be less.You don't get charged interest until the offer period ie. 6months ends
b/Aim to pay your balance off in full each month that way you are getting approximately 59 days interest free.If you use this card or something similar say American Express you should use it for all you monthly purchases ie. fuel,food etc leaving you wages alone in the bank ready to pay the card off at the end of the 59 days or statement date.That way you will maximise you cashback when it is paid.If you also transfer you wages into a savings account for 25 days a month while you are spending on your credit card you will earn more cash in interest this is known as "slow stoozing"
c/never had one of these as it is more hassle than it is worth to work everything out.Producing an egg card against a American express would have not got me flight upgrades without asking.
If you don't have any outstanding debts then you should be stoozing and making cash from your future cards.
Check out stoozing.com for more details.
good luck.
oh yeah select your credit cards for certain purposes,balance transfers,purchases etc.and keep those purposes seperate or you will incur interest charges due to the allocation of payments.