CC advice needed - newbie

ourkid85

Long time viewer, first time poster

Sorry if not all info here is given or am asking an unrealistic question but here goes:

Am looking to get my first CC and am after a bit of advice. Looking to buy a new car in a hurry due to mine breaking and needing one as travel quite a distance to work. Original plan was to wait until my bonus pay-out in April but as mine decided to die and cannot find a cause, am possibly having to do it a tad earlier. I know the best option is a loan but am already paying back a loan with 3 years left so don't really want to top up my existing loan as looking to pay back this money within hopefully 6 months. CC seems the only other way I can go.

Am looking to get hold of £2,000, if possible £3,000 as this will enable me to sell my car privately as will get more money, but a part-ex and £2,000 will be OK. Am looking to get a CC that will allow me to pay 0% interest for atleast a year for safety. As never had a CC before, am I setting my limits too high?

Suppose you need a bit of background info, am 22, currently earn just over £20,000 a year, although set to increase around another £1,000 or so within the next few months. Am renting an unfurnished flat since August 2007. Have had various loans for the last 4 years, never defaulted as far as I can remember, have had a phone contract for last 17 months, had numerous Direct Debits when living with parents (Sky TV, Card protection, car insurance) so have had quite a few outgoing Direct Debits which, again, as far as I can remember have never defaulted.

Really looking to see whether there will be companies out there who will offer £2k/£3k to someone who has never had a CC before so they can buy a car and not pay any interest?

Many thanks for your help in advance

webbo100

Are you planning to buy the car with the credit card (in which case you will need a CC with long 0% on purchases such as the halifax card).

Or are you planning to purchase with cash, in which case best option is a CC such as MBNA or Virgin, these will allow you to balance transfer into your current account and have the advantage of low minimum monthly payments.

As to whether you could get a card with the required limit its difficult to say. I would assume as you are renting you are on the electoral role at that address, you have accounts with telephone companies and utilities so you should have asome entries on your credit record. So I would expect you should be able to acheive this.

There will be others that can answer better than me though.

Zebedee69

Hello,

Have you ever borrowed money before? Loan or something else? Its just that if your credit record doesnt have any entries then its going to be an uphill battle.

Have you spoken to your everyday bank to see what they say. Your normal bank is usually the first to lend money to a person.

johnny_c-l

Not all companies take credit cards for cars, make sure you check beforehand.

ourkid85

Hi,

Thanks for the speedy responses. Am looking to buy the car on the cresdit card, then come April will be able to pay all, well depending on y bonus, but m,ost of the balance off, then the remainder over the next month or 2, therefore will definitely benefit a 0% on purchases.

Have had 4 loans in last 5 years, ranging from £3k to £8k, all paid off bar the £8k which ends in 3 yrs. And do have phone, internet, TV lic, mobile contract, current loan, car insurance and rent currently coming out of aco!!!! which hopefully will give me a better chance, although most have onl been being paid since August of last year.

My only concern ws that the money I was after was being unrealistic, I'd call to get a CC, get rejected and affect my credit rating. If you feel there's a possibility, suppose I will bite the bullet.

And good thinking Johnny, definitely will check that company takes CC.

Thanks all