Best credit card for emergency use

AMC1888

Thanks this is all great info, might sound like a stupid question, but how long do you get to pay back the money before you start having to pay interest on the card, for example if i had a card with 6.9% APR, if I purchased something and paid it off straight away with my debit card would i still be charged? Basically is there a time limit before you start getting charged for any interest at all or are you charged immediately.
Thanks again

eskbanker

Every month you'll be issued with a statement listing all transactions for the period, plus a payment due date, which will typically be 2-3 weeks later - if you pay the statement balance in full by the payment due date then there will be no interest charged.

onthefencepost

DCFC79 wrote: »

Just make a payment on it each month, say a weekly shop or a petrol top up just to keep it active.

THIS!

Just be careful in my younger days my balances got paid less frequently and got a few defaults due to build of balances - losing my job didn't help but you get the picture
.
In recent years everything gets paid off on time. If you can source a cashback / benefits as you spend that will be better.

agrinnall

In addition to using the card to keep it active, if you set up a DD for payment then if you don't use the card for a period the DD will lapse and you may end up with a missed payment when you do use it - this happened to me when I didn't use my Barclaycard for just over a year, although I was able to pay by another method before it was reported on my credit record, and the DD was reinstated for future payments.

sonuenjoys

Apply for any credit card that has a rewards or cashback program and dont forget to set up DD. If your DD becomes dormant then it wont process payment unless a statement is generated. Therefore there is a chance of missing the payment for this statement. DD will be active post the "dormant" statement.

18cc

My advice is as follows:

1. ask yourself if you really REALLY need a credit card - they have a habit of starting off being paid back each month but slowly over time can leave you with debt you can't repay. Yes, some (most?) people don't fall into this trap but a lot do.

2. if you decide you want one but for emergencies only, ask your bank for one. No point looking around - you won't be using it much anyway.

3. Set up a direct debit to pay the minimum amount each month. Then use the card every so often you eg buy petrol once (as others have said and just keep it 'ticking over'. Pay it off every time you use it. You have until the statement date to get a statement and then about 3 weeks from that date to pay off the balance.

4. Other than this, DON'T spend on it - see point 1.

Cisco001

onthefencepost wrote: »

THIS!

Just be careful in my younger days my balances got paid less frequently and got a few defaults due to build of balances - losing my job didn't help but you get the picture
.
In recent years everything gets paid off on time. If you can source a cashback / benefits as you spend that will be better.

You can set up direct debit with pay in full every month.
You don't even need to remember what date for payment!

This do assume you already have the cash in the bank...