is this a good card

YorkshireBoy

voodoovince wrote: »

hi i have never had a credit card before

i would like advice as im really am not sure how these things work

The Credit Card Newbie Guide would be a good read then.

http://www.tescofinance.com/personal/finance/finance/creditcards/clubcc/index.jsp


what do you think is this a good deal, i know it is not the best card

This card only has 46 days interest free on purchases (excluding the introductory offer), so has caught a lot of people out by the short time you have in which to settle your bill.

Allowing for statement production, postage, etc you may only have a week in which to make your payment. For that reason, if you do go for this card you MUST ensure you have a direct debit set up...for at least the minimum payment, and preferably the full payment.

but i have never had a lotter before which makes me think i may have a chance t being accepted by the company rather than try my luck with others.

It's a speculative mailshot...nothing more. If you apply they will still credit check you.

You've more chance of being accepted by your bank for it's card, or one of the credit-builder cards such as Vanquis, Barclaycard Initial, etc, if you're young and/or haven't been with your bank very long.

Finally, do heed the advice of earlier posters but don't let it put you off.

mummytummy

Mrs_A wrote: »

DON'T DO IT!
I started off like that at 18, when the woman sorting out my student account told me it was a great idea to have a credit card for emergencies. I'd not be in £23k of debt now if I'd had the sense to tell her to shove it.

Fair enough, you want to cater for emergencies. Get a pre-paid credit card and send a direct debit to it every month. Hide it in a drawer and forget about it until said emergency happens, smug in the knowledge that you are not actually getting into debt.

Honestly, if I could change one thing about my life, I would have never got any credit cards in the first place.

Oh how true, credit card debt is so easy to get into but so very hard to get out of. My husband and i had a card "for emergencies only" now between us we owe around £10,000 DON'T DO IT!

overlander

When you actually think about it logically credit cards should not exist. As already pointed out there is a distinct difference between credit card spending and credit card debt.

Credit card debt is BAD. Unless you spend a massive amount in your everyday life credit card spending using various points incentives really is not worthwhile. Big deal you get say 50 days interest free, just wait the 50 days and buy the item cash. More than likely you will still not want the item by the time you have the money so you have just saved money. Credit cards feed on whim purchases.

Credit cards exist for one reason only and that is to get you into debt.

marshall2k

Using a credit card allows one to keep money earning interest for them for longer.
Using a cash back credit card effectively makes each purchase cheaper.
Using a credit card gives you extra protection.
Stoozing has made people a lot of money.

Personally, I'm glad they exist.

overlander

Hi Marshall2K,

All very valid points but people who use them like that are in the minority unfortunately. If you use the card that way you beat them at there own game, good on you.

overlander

I should add that i do still have a credit card, but only use it when no other option is available. I have a barclaycard platinum 6.9 % Apr but i mainly use it for large purchases on the net just because of the extra protection. So that is one benefit i guess as long as you pay it of immediately.

marshall2k

Everyone can learn to use financial products to their advantage. This is what this whole site is about - "consumer revenge".