First Credit Card - 4 months 0% Interest or 29.8% APR on purchases from the outset?

Ghxst

Hi all
I know the title seems like a no brainer, however this year I decided to take control of my finances altogether and open up two further bank accounts to allow me to have better control of my finances and give me the ability to save money for once in my adult life. I now have dedicated accounts for a personal allowance, savings and general outgoings which includes my phone bill and my share of the rent. After opening the accounts my credit score took a beating understandably and I wasn't eligible for any credit cards or finance. With this said I now feel comfortable and stable enough financially to get a credit card, my intention is to build credit and and improve my overall score for when the time comes to get a mortgage - whenever that'll be! 

My question is do I get a credit building card which has an APR rate of 28.9% with a limit of between £200 or £1500 with two option credit increases annually if eligible, or do I get a purchase card which has 0% APR for the first four months and 34.9% APR thereafter. I just would like to know, would they both work the same in the sense that they'd build credit the same, it would the first card with a fix APR build the credit quicker due to the interest being paid?

I know that having credit isn't something to abuse to take lightly, it's a commitment that can ultimate screw up your life in many ways, I have myself witnessed my mother go through this and it's taken a lot for me take this step, so any input would be greatly appreciated.

cymruchris

If it's your first credit card - find out which one you are most likely to be accepted for by using the eligibility checkers DIRECTLY on the card providers websites. Don't use comparison sites. Then only apply for ONE card and see what happens - pick whichever one appears to be most likely to succeed. (Even pre-approved cards are not always as pre-approved as they say they are)

It doesn't matter which credit card you start with - on the condition that you set up a direct debit to pay it off in full EVERY month without fail. You are going to build up a pattern of good financial management. Spend - Pay it off - Spend - Pay it off. 

So then you spend on it with your regular supermarket/fuel type purchases, ensuring that at all times there's enough money in the current account to pay the bill when it comes.

Sandtree

Ghxst said:
would the first card with a fix APR build the credit quicker due to the interest being paid?

Paying credit card interest isnt a badge of honour, you want to be clearing the card in full every month if its not on a 0% and before the 0% ends if it is on a promo