My first credit card?

BobsYourUncle_2

Hello everyone I've been looking around this site for a while and just joined the forum hoping that I could get some advice

I am wanting to apply for my first credit card and wondered if anyone could suggest which ones I should be looking at? - I've looked at Vanquis but the APR looks a little to high, or should I be expecting a high APR?

I have had my mobile contract for 3 years and two small personal loans which have been fully repaid on time (NOT pay day loans).

Thanks in advance

Tixy

What do you want the credit card for?

Is it just to help build a rating? is it to help pay for something you don't yet have the funds for? is it for emergencies? or is it for the additional purchase protection?

Usually a first option is to see if you are eligible for a card with your own bank. If not then you may well have to start with a subprime card of which vanquis is one. The high APR is only relative if you plan to not pay off the card in full each month.

BobsYourUncle_2

Thanks for your reply Tixy!

I would like one to build my credit rating, paying in full each month. I thought the APR was daily?

Tixy

If you use the cards for normal purchases and pay in full each month, after the date of the statement but before the due date then you pay no interest as it is waivered by the company.
(you'll see this on the terms of all credit cards described as up to 54 days interest free credit - or a similar number)

You only pay interest if you don't clear the balance in full, and in those instances yes it would be calculated daily based on the daily balance.

F1F93

As Tixy said, if you pay in full every month then you pay no interest whatsoever, so the APR is irrelevant.

Try the MSE pre-eligibility checker will show you how likely you are to be accepted before you apply:
https://creditcards.moneysavingexpert.com/?purchases

Alternatively, some providers will "soft check" you (I know nationwide does this) to show you how likely you are to be accepted, in the same way as the MSE checker.