Should I get a credit card?

Dustykitten

Thanks, so if his bank are offering a card is that a good one to start with, obviously if there is no fee and APR is irrelevant if paying off.

Deru

Yes, that's another option.

enthusiasticsaver

The most effective way of using a credit card is to choose one with rewards, use it for all spending then pay it off by the statement due date preferably with money saved in a high interest current account. That way you benefit from leaving the money in your current account earning interest as long as possible and you also get the cashback or other rewards from the credit card. You win on both counts and you pay no interest to the banks.


Has worked for us for the last five years. You must be disciplined enough though to not overspend so that you do not leave any outstanding balance on the credit card at the end of the month.

enthusiasticsaver

I use the Santander 123 credit card - 1% on supermarket shopping, 2% on department store shopping (BHS, Debenhams etc) and 3% on fuel at petrol stations. There is a £2 per month fee though but if you have a Santander 123 current account it is free for the first year.


All other spending I use the John Lewis partnership card (0.5% on everything and 1% on john lewis/waitrose spending) which gives me waitrose vouchers.

caryn5252

forgotmyname wrote: »

Get a card, Use it, but make sure you pay it all off every month.

Yes you are right timely payments are very important