first credit card

dannyevo

I'm thinking about getting g a credit card but not sure how to use it should I use it for my day to day things in life an just save my weekly wage in the bank or just use it in emergencies, and what is the difference to a balance transfer. I don't get a superb wage (250)so any advise anyone can give me would be superb and a great help

andyfromotley

Why do you want a credit card?

The huge danger with them is you spend on them, fully intending to pay back in full each month, but when that comes around, well theres always something else that needs paying. 'No worries' i 'll just pay the minimum, its only £7.50!! Result. Repeat month after month, year after year. Until if you are unlucky like me, you will wake up with £23k on your credit cards and your minimum repayments of over £300 per month!! (and trust me i'm not an extreme case, many many people end up with far more and without the ability to repay that i have.)

And heres the real killer, if i had not got to grips with it, paying just those minimum repayments, it would take OVER 40 YEARS to pay off those cards.

So unless you are super disciplined i would think twice. People go on about how they build your credit history, i am sceptical that they actually help much in this regard, but i am certain that more people harm their credit histories by racking up debt, struggling to pay and living in today paying for yesterdays spending.

Discipline Discipline Discipline. If you have it they are very handy, if you dont they are a nightmare!

eDicky

You don't need a credit card - it's just a temptation to live beyond your means. Use your bank account and debit card, keep life simple and you can't go wrong.