Marbles Credit Card

katellaw

I have previously applied for a Marbles credit card and was approved. I am still in the processing of the Credit Card I think.
I have signed the contract and I have just recently sent of document proving my identity, so the whole process is not yet complete.

I have recently come into money and no longer need the card. It says on my contract that I have 14 days to withdraw from the agreement once I get my card.

I was wondering If I will have any cancellation fee's.. I am not sure exactly the normal procedure for cancelling a credit card before you even have it. I does not say anywhere on the contract that I will be charged. Because I have taken no money out of the card does that mean I will have no money to repay?

This is my first experience with a credit card and have no idea how it works.

bigadaj

You should only ever have a credit card when you don't need the money. Having a credit card has many benefits, including shaowing lenders you can manage credit, so making mortgage applications easier, section 75 protection on purchases, deferring payment for a few weeks, as well as 0% purchases and balance transfers.

You can cancel the card at any time and only have to pay what you've spent plus any interest you may have accrued, if you pay in full every month there won't be any interest.

Why not keep the card, spend normally on it and pay it of every month, by direct debit if you wish, this will be of benefit to your financial health so long as you use it responsibly.

eDicky

katellaw wrote: »

This is my first experience with a credit card and have no idea how it works.

All the more reason to keep it - now is your chance to learn how it works, how to use one and its various benefits when used correctly.

than_prutt

bigadaj & eDicky are absolutely right!! Keep the card so that you have something to fall back on in case of emergency. However, if you decide otherwise, there shouldn't be any cancellation fees.