My First Credit Card - which one ?

hellows

OK. I went to Natwest today and I have been accepted. They have given me the
Natwest Gold Credit Card. Which I think is quite good. What would you say ?
Bellow are the details:

Gold Credit Card


Our NatWest Gold Credit Card includes some valuable benefits, such as overseas medical and legal assistance, as standard.
Our Gold Credit Card is available to those over 21 and earning at least £20,000 per year and with 0% interest to pay on balance transfers for 13 months and 0% on all purchases for six months you could make some real savings.
Our simple online application takes just a few minutes and you'll get a decision instantly so why not apply now?
Get great value - typical 12.9% APR (variable)

Your money

• 0% interest on credit card balance transfers for 13 months from account opening. Subject to a transfer fee of 2.9% (minimum £5) during the first three months from account opening1
• 0% interest on purchases for 6 months from opening your Gold credit card account.
• Enjoy an interest free period on purchases - up to 56 days - if you pay your current and previous month's balance in full and on time
• Make fee-free transfers from your card by phone to any UK bank account (minimum £250)
• Make cash withdrawals of up to £500 per day subject to a 3% handling fee with a minimum £3.00
• If you're an Advantage Gold member you can enjoy a 1% APR discount off our standard rate. For full details please contact your local branch.

Your account

• Make payments to your Gold Credit Card through NatWest Online Banking 24 hours a day, 7 days a week
• Make payments in branch, by phone, online or by Direct Debit. Pay off as much as you like, as long as you make the minimum payment
• Add an additional cardholder for free and they can share the benefits of your Gold card

Your security

• Our identity theft helpline, internet fraud protection and fraud warning alerts are offered at no extra cost
• Our Emergency Medical and Legal Referral service is there to help should you find yourself in difficulty abroad

Other offers

• The NatWest Wine Club gives you access to over 1,000 different wines and you can enjoy some remarkable savings2
• Great savings and expert travel advice on 1000's of holidays with the NatWest travel club

My credit limit is 3,350.
In my agreement it says: The advance limit is 50% of the credit limit. WHAT IS THIS ?

Tori_Bellatrix

hellows wrote: »

OK. I went to Natwest today and I have been accepted. They have given me the
Natwest Gold Credit Card. Which I think is quite good. What would you say ?
Bellow are the details:

My credit limit is 3,350.
In my agreement it says: The advance limit is 50% of the credit limit. WHAT IS THIS ?

That's a very generous credit limit for your 1st credit card and limited credit history .... Don't spend it all at once .. :cool:

hellows

My credit limit is 3,350.

In my agreement it says: The advance limit is 50% of the credit limit.

WHAT IS THIS, the 50% ?

King_Weasel

hellows, I can only think it means that you cannot withdraw more than half your credit limit in cash, or, more precisely, that the cash component of your outstanding balance at any time (cash withdrawals not yet paid back) cannot exceed 50% of your credit limit. But, as has already been said above, you would be unwise to withdraw ANY cash on a credit card. (Note that 3% handling fee - AND you'll pay high interest from the day you withdraw the money.)

I note there's a 0% deal on purchases for 6 months. So you can make a saving by only making the minimum payment each month (of course you MUST make that minimum payment) PROVIDED you save the balance where it earns some interest and PROVIDED you pay off the full balance after the 6 months.

But maybe you know that bit already.