Need a credit card, don't really want one :P

blizeH

Hi guys,

I'm at the stage now where I'm considering getting a mortgage, but my credit rating will be awful since I've never borrowed money and never had a credit card.

Most of my spending is done through a mixture of online casinos, online shopping and general shopping/petrol if that's any use.

My main worry with credit cards is that it's just an un-needed hassle. With my debit card I know I've got the money in the bank and can just spend it, credit cards just seem like an unnecessary headache and I'm the sort of person that will no doubt forget to pay one month and screw myself over.

So, my main requirement for a credit card (in order) are:
1) One that doesn't have any hassle if possible and will automatically take money from my current account.

2) Cashback?

3) Casino compliant?

Bottom two I don't care about that much, I just want a simple credit card with no headaches ;p

Thanks!

CLAPTON

Apply for a CC with your bank and set up a DD for the full amount each month.

Use it a little each month ..say petrol so it shows that you are paying properly.

Don't use it for casinos as they are counted as cash advances and you get charged a lot.

In fact mortgages aren't too fussed about credit records unless they actually show bad behaviour, they are mainly interested in things like, size of deposit, your earnings etc.

blizeH

Awesome, many thanks for the reply.

I'm with Lloyds and none of their cards have cashback so I really wouldn't gain an awful lot I guess. Cheers for the heads up about casinos too.

Are mortgage lenders really not that bothered about credit cards? If that's the case then I may not even bother

CLAPTON

Cashback cards tend to be reserved for people with very good credit ratings, so as you will presumably have virtually no credit trace you are unlikely to succeed. However one or two applications wont hurt your credit rating so if you are so minded you could try EGG MONEY giving 1% cashback (be careful that its egg money and not simply the egg card... a bit confusing). You can apply online.

blizeH

Brilliant cheers, I may try and get the Egg card; will that allow me to set up automatic payments though?

CLAPTON

the egg money card and not the egg card ... as I said abit confusing.
Yes Egg let ( well require) you set up a DD to pay either the full amount (which I would recommend) or the minimum payments

[Deleted User]

If your new to it then heres the ropes -

http://www.youtube.com/watch?v=WLyQasZ71bs

blizeH

^

I'm on the Egg Money site now; http://new.egg.com/visitor/0,,3_78868--View_1636,00.html

Just apply for that, right?

blizeH

I could be wrong, but if I understand correctly I'll need to have a certain amount in that account at all times to pay it off (much like a current account) instead of setting up a direct debit or payment that'll pay off the balance each month?

CLAPTON

No ... the eggmoney CC can act exactly like an ordinary credit card, where you use the card for purchases etc and pay the minimum or the full balance each month by DD... and you earn 1% cashback (payable once a year in March).

However, if you so wish you can use it as a savings account too and put money on it ... but at the moment forget that just think of it as a credit card.

blizeH

Fantastic, tyvm! Will sign up now