clueless about credit cards!

laurad85

hi ppl, i really need your advice about credit cards. im 23 and have just passed my driving test so im looking to possibly get a credit card to buy a little run around. im looking to spend around £1000 on a car and i got a quote for £700 insurance which means i would be spending rougly £1700 in total. i work 30 hours a week at the moment so have a regular income but this is changing in september when i start my teacher training. however ive done alot of research into student teacher finances and i will be getting roughly the same money as im on now, (which includes loans, grants and possibly a bursary). What i really need to know is what i should be looking for in a credit card? Im hoping to have it paid off within 12-15 months (nearly finished paying off a holiday which was approx £200 a month and £64 which i spent on driving lessons). Ive been looking at 0% interest but dont really understand which is the best deal. I dont need one which offers balance transfers as ive never had a credit card before and i only plan on using this one for a car.
thanks in advance!
Laura x

YorkshireBoy

My advice is to forget credit cards (for buying cars on, and in your situation), and approach your bank/family for a small loan instead.

emma396

who are u planning on buying the car from? some companies won't take credit card due to the 2 - 3% they get charged, ull need to check.

u should be able to get the insurance on the card no probs. check out quidco see if any insurance companies are offering large amounts of cash back

[Deleted User]

I would say that if you don't understand credit cards - Don't get one!

As someone here has already said; get a regular loan from a bank; or family if you can (they don't usually charge interest!!):D

You need to fully understand how credit works before you get into debt;)

CLAPTON

if you can afford to pay a loan off, you can afford to save ... if fact borrowing means you pay interest and saving mean you earn interest.
learn to save for what you want... and teach your students that too.

[Deleted User]

Credit cards are only worth having if you can pay off the balance in FULL every month. This is the ONLY surefire way to get interest free credit all of the time.

Unfortunately, most people don't fully understand credit; and that's the problem...