Help pLEASE- Nubie choosing 1st card

MikeMillions

Hi All,

Well the time has come for me to get a Credit Card - I have resisted so far as I have no real need and was always afraid of debt.

SO here goes, I have chosen to get a card due to emergencies as I travel extensively and in some countries (ie Cuba) maestro is not good enough.

I mainly use my switch/maestro and only want the CC as back up, I have a large disposible income which i save etc and am a home owner (28 yrs old)

So what ma i best doing??? Which card, perhaps one with good benefits for travellers?

Please let me know what you think, any guidence will be much aprecated.

dylanuk

Hi Mike,

If you're willing to pay an annual fee, Goldfish issue a card called the i24 credit card - it's costly, at £275 per year, but offers some seriously amazing benefits for travelling.

You get 0% commission on overseas spending (so no foreign transaction fee), free priority pass (access to VIP airport lounges), a special concierge service for help booking travel etc, free comprehensive annual travel insurance for you and your family (with no limits on how many trips per year, and some sports cover), and 1% cash back on all spending too.

The i24 advertising says the money saved on benefits outweighs the cost of the annual fee by about £700 (of course, that's if you make use of all the extras).

Or, if you're baulking at £275 per year! (I think I would be!), there's the MBNA Travel American Express credit card, which offers the free annual multi-trip travel insurance (with winter sports cover), a concierge service, priority pass, and some MBNA / American Express Selects rewards too. The only downside to this card is the higher purchase rate and 2.75% foreign transaction fee, but the annual fee is only £95 on this card.

They are by far the best credit cards for regular travelling abroad.

Alternatively, a bit more basic:

Post Office - offers 0% commission on spending abroad.
Barclaycard - all cards come with free comprehensive travel insurance (if you book your travel through the Barclaycard travel service).

Or, maybe an air mile / travel reward credit card? If you fly with a particular airline, say BA, you could benefit from some of the perks (priority check-in, VIP lounges, etc...) - though you usually have to earn your way up the membership ranks for anything really worthwhile.

MikeMillions

Many thanks for your help!

CLAPTON

if you haven't had a CC before you may find it difficult to get your first one as you probably dont have much of a credit history.
If this is the case its probably best to try your bank first or one like barclaycard initial or vanquis.... awful interest rates but if you pay in full each month that doesn't matter

use the card regularly and pay it off in full each month then reapply for a 'good' one after about 6 months.

dylanuk

If you've got a mortgage though you shouldn't need to take out a 'poor history' credit card like Vanquis or Barclaycard initial.

A mortgage is one of the best ways to get a very good credit rating - as long as you've never had any arrears or defaults on it.

Clariman

You might find this New to Cards guide useful. There is also a credit card selection tool on the site.