Brand new Newbie - really CONFUSED on what card?

Sarzzie

Hello,

Sorry about this, I have read lots of posts plus Martins main page on credit cards and I just don't understand what card is best for us!

We have never had a credit card, always saved for what we wanted, but this month has been terrible, had to buy a new cooker but car MOT due at the end of the month. Hopefully spend no more than £350 and could pay back about £50 per month.

We also thought that having a credit card would be handy for emergencies.

Any help would be great, sorry to sound so thick!

Sara

vwman_3

Try your own Bank first, they will have some idea of how you handle your finances.........

NopainNogain_2

Hi Sarzzie!
You seem well on top of your finances - good for you!

We were in the same position a bit back - never had a credit card, not sure what to do.

Have to agree with vwman - there is another way. If you have the good banking history it seems you may have, negotiate with your bank for the best overdraft deal; you may even get it free for under £500.

Credit Cards do have benefits, though. You clock up a credit history, get insurance on items bought in some instances, and can get cashback (which may help to offset charges).

We've gone for Egg Money, and are very satisfied indeed. Like some other people posting, we were a bit confused with the 'charge up the card with credit ... when you have a negative balance' bit; but it all seems to work well in practice - you can just use it as a Credit Card. The APR can be excellent - if you apply, ensure you check the APR you personally are offered before accepting.

AND you get 1% Cashback on all purchases. So £350 spend would net you £3.50 for starters. Good Luck - keep the credit in check!!

King_Of_Fools

What you need is a credit card with 0% on purchases such as the Halifax 15 month 0% purchases card:
http://www.halifax.co.uk/tv
With this you could pay for your £350 and only have to pay back about £7 per month and spread the £350 (plus any other spending you want) over 15 months without having to pay anything else. (Of course you need to make sure you are putting aside the money to pay off the card after 15 months in a savings account.)

However, as you have never had a credit card my usual advise would be to apply for one at the bank with which you have your current account. They are far more likely to give you your first credit card. See if your bank also has a 0% on purchases card.