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First credit card - bit confused!
Jules234
Posts: 1 Newbie
in Credit cards
Hi everyone,
I'm 26 and having just moved into (to buy) a house that needs some TLC, I have decided the time is right to get a credit card. Only problem is there are so many options so I'm looking for clarification on a couple of issues. I am in a full-time, well paid job & have/had loans for cars etc., so my credit rating is pretty decent.
I am only planning on using the card to buy things for the house & then budget to pay them back. This makes me assume that I'm looking for a good 0% on purchases rate, right? I bank with RBS and their current offer is a constant 6.9% on purchases & 11.1% APR, which I don't think is so good. I was thinking about going for the Tesco card which offers 0% for 18 months + clubcard points, which I think would suit my situation, does that sound right?
Any advice appreciated!
I'm 26 and having just moved into (to buy) a house that needs some TLC, I have decided the time is right to get a credit card. Only problem is there are so many options so I'm looking for clarification on a couple of issues. I am in a full-time, well paid job & have/had loans for cars etc., so my credit rating is pretty decent.
I am only planning on using the card to buy things for the house & then budget to pay them back. This makes me assume that I'm looking for a good 0% on purchases rate, right? I bank with RBS and their current offer is a constant 6.9% on purchases & 11.1% APR, which I don't think is so good. I was thinking about going for the Tesco card which offers 0% for 18 months + clubcard points, which I think would suit my situation, does that sound right?
Any advice appreciated!
0
Comments
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It depends on how long you think it will take you to pay back.
If you can afford to pay in full now, then a rewards card would be better.
Howeever, it you think it could take some time, then a 0% purchases card could be better. Or even the longer term low rate RBS card.
However, if this is your first credit card, your options may be more limited.0
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