Never had a credit card - where to start?

mkaml

I've never had a credit card, have good credit, am a home owner just never had the need.
Goin to use it to spend on holiday rather than having cash - want to pay the full balance off the month after I'm home.
Will probably then just use it in the same way, buying very occasional things then paying it off.

Any advice?

YorkshireBoy

If it's for foreign holidays primarily, then Halifax Clarity.


If it's for UK use only, or you're declined for the Halifax Clarity, then ask your bank...the one that receives your income and pays your bills.


If all else fails, apply for a credit builder card such as those offered by Aqua, Vanquis, Capital One, Barclaycard, etc.

mkaml

It's for using abroad, Am I correct in saying this is not 0% (clarity)

grumbler

What do you mean by "not 0%"?
'Clarity' is the best for using abroad as it doesn't charge for currency exchange (0% 'loading'), and for ATM withdrawals. The interest rate isn't 0%, but for all CCs the interest on purchases is waived if you pay the statement balance in full and in time.

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YorkshireBoy

mkaml wrote: »

It's for using abroad, Am I correct in saying this is not 0% (clarity)

Yes you are, but since you'll be paying in full each month, especially if using for cash withdrawals too, that doesn't matter.

moneysavinggirl40

Halifax clarity wont charge a fee for ATM use abroad but ATM at merchants might so check.

You will be charged interest with clarity withdrawals from the time of withdrawal so you can make payments via online banking whilst you're on holiday, you don't need to wait till statement so as to minimise the interest charged, or if you know you're going to spend xamount then set up a payment from home for a near but future date, again to minimise the interest charged, rather than waiting a whole month. Having said that if you do wait about a month £100 is £1per month (cash withdrawals).
"There's no fee for cash withdrawals, though you'll be charged interest at a fairly low 12.9% representative APR, even if repaid in full. This works out at around £1/month per £100 withdrawn. Some poorer credit scorers will get higher APRs, of up to 21.9%."

YorkshireBoy

moneysavinggirl40 wrote: »

You will be charged interest with clarity withdrawals from the time of withdrawal

They can't charge interest until the withdrawal is posted to your account, which can be 1-4 days after the withdrawal itself.

Pincher

Check out SAGA if you are over 50 years old. Good for overseas use too.


Try not to apply for too many card in one go: it makes you look desperate.


Don't rely on one card, the computer gets trigger happy when it detects unusual spending habits. Exercise the cards before you go abroad. Notify them before you go abroad.

mkaml

Thanks.
I'm under 50
I could ahve done with a 0% card as I wanted one month after I came back to pay the balance (ties in with money being released)