First time Credit Card?

chris1012

So I have been with Barclays for the past 20odd years. Never taken any loans out, probably been over draft a handful amount of times in the whole duration with them and generally pay bills on time.

I have done an experian credit score and its average in score. Nothing alarming, all seemed fine but I guess its average as I have never had a credit card or borrowed money.

I use around 1k a month for bills so was thinking if I went for a credit card I can take advantage of cash back, travel miles or anything else that might be available.

I intend to go abroad with my wife and child at least once a year and if I was getting good points, I would probably be inclines to possibly more than once.

What choices do I have available that would be best suited for me?

CLAPTON

if you have never had a CC then you are best to get almost any card:
use it regularly, pay in full each month
after 6 months or so go for one with benefits that suit you

so try barclays for your first cards as you bank with them

chris1012

What would the first 6 months be doing?
Is this to build up my credit rating to allow me to get another card with benefits?
Why cannot not simply go for one with benefits straight away?

CLAPTON

chris1012 wrote: »

What would the first 6 months be doing?
Is this to build up my credit rating to allow me to get another card with benefits?
Why cannot not simply go for one with benefits straight away?

of course you can apply for one with benefits but they are often 'reserved' for people who have a proven history of repaying their debts (specifically CCs)
you don't

but by all means try for one

Anthorn

chris1012 wrote: »

What would the first 6 months be doing?
Is this to build up my credit rating to allow me to get another card with benefits?
Why cannot not simply go for one with benefits straight away?

The first six months would be to build up a credit history. In fact I would increase that to 12 months. It's not necessary to clear the balance every month unless you want to avoid paying interest. In fact your lender(the credit card company or bank) will love you so much they will want you to have their babies if you keep a balance and pay interest. Also an increasing balance followed by a reducing balance shows you can operate the account within the credit limit and make payments on time. All provided of course that you never pay late or miss a payment in which case you'll get red marks on the history.

You're playing a game and the first rule of any game is knowing you're playing it.

juliazaman

There's a lot to know about credit and ignorance can prove to be extremely costly to your pockets and your credit score.
Credit card companies aren't always willing to give credit cards to first-time credit card users. Knowing where to apply for your first credit card will protect your credit score - if you have one - by keeping credit card applications to a minimum. If you're repeatedly denied for credit cards, even retail store credit cards, then consider a secured credit card. You'll have to make a deposit to get the credit card, but if you use it responsibly, you may qualify for a traditional credit card after 12 months.

thebritishbloke

I'd say to get a BarclayCard Initial, since you bank with Barclays. Don't bother trying to get a rewards card, you haven't got any sort of credit history so the chances of you getting them are abysmal. It'll just be a wasted search on your file.

Keep the card for 12 months and have a direct debit set up for the full amount. This time next year, you can try to apply for one of the more prime cards (you probably still won't get accepted for the very best cards, but you should be able to get something like the BarclayCard Freedom Rewards pretty easily).

chris1012

What type of credit score would I require. What would aid in getting a CC now with good rewards?
I am a home owner (bought out right) if that helps...

MallyGirl

try the predictor on here that assesses your chances of getting the cards - it is not 100% but it leaves no footprint on your credit file

Fruit_and_Nut_Case

MallyGirl wrote: »

try the predictor on here that assesses your chances of getting the cards - it is not 100% but it leaves no footprint on your credit file

That would be this link, right?

SuperHan

Anthorn wrote: »

The first six months would be to build up a credit history. In fact I would increase that to 12 months. It's not necessary to clear the balance every month unless you want to avoid paying interest. In fact your lender(the credit card company or bank) will love you so much they will want you to have their babies if you keep a balance and pay interest. Also an increasing balance followed by a reducing balance shows you can operate the account within the credit limit and make payments on time. All provided of course that you never pay late or miss a payment in which case you'll get red marks on the history.

You're playing a game and the first rule of any game is knowing you're playing it.

Don't listen to this.

Pay off the balance in full. This will have absolutely NO detrimental effect on your credit, and will cost less than the above suggestion.

I have always paid off my credit card bills in full, and I started with a student credit card around 6 years ago, and have since not been declined a card I have applied for and I have a number of reward credit cards.