Credit card for back-up 30 January 2017 at 1:59PM in Stoozing: free cash from credit cards 5 replies 2.5K views

Bigfish94

Hi, Can anyone tell me if you can get a credit card just as a back-up that doesn't charge you for having it but not using it or interest free if you you clear the bill in time. I have never had a credit card before and know nothing about them? Any advice would be helpful.

Many Thanks,
Bigfish94

Ebe_Scrooge

The majority of the mainstream cards do not charge a fee, and there is never any interest to pay if you clear the balance in full each month.


Worth noting, some ( most ? ) lenders will close the account if there is no activity on the card for a couple of years. So it's worth putting a transaction through every couple of months or so just to keep it active - say, a grocery shop, or a tank of fuel, just something that you need to buy anyway. Pay it off in full as soon as the statement arrives, no interest to pay.

Bigfish94

Thank you very much for your reply that makes it a lot handier to do and a good tip to keep it active.
Bigfish94

TheShape

Ebe_Scrooge wrote: »

The majority of the mainstream cards do not charge a fee, and there is never any interest to pay if you clear the balance in full each month.

Always check the summary box and t&cs though.

See the summary box for this TSB Advance Mastercard:

http://www.tsb.co.uk/credit-cards/purchases/advance-credit-card/

Summary Box (Note the interest-free period, there isn't one!):

http://www.tsb.co.uk/credit-cards/purchases/advance-credit-card/summ_box_advance_all.pdf

Fireflyaway

Why not save up cash and have an emergency fund instead? Then you won't be tempted to use the card or ever have to pay interest. It can't get stolen or lost etc and if you have a loss of income emergency you won't be stuck with a credit card you can't pay back.

Bigfish94

Thank you for your reply. One of the main reasons I was looking for a card was that when I hire a car abroad they are looking for a credit card to hold over the excess payment which can be 800-1000 Euro I hope not to have anything go wrong so the card won't be used. I also have my own excess insurance but they still insist on a credit card they won't even let you use cash on picking up the car. I know that sounds mad but that's the way they do it. I have the funds set aside to cover this but I still need a credit card.