Should I get a Credit Card?

celticfcz

Hey all

So basically Im 18, have just finished my first year at university and I work part-time - earn about £500 a month and am glad to say have no debts/loans or anything out against me. (Thanks mostly to the fact Im Scottish and uni education is completely free here and not because Im super money savvy or anything!)
I have always been advised by quite a lot of people to stay away from credit cards due to over spending etc and I have never wanted one but just recently I have been told it would be wise to get a few credit cards to build up my credit rating/history. I really dont want a credit card and dont think I need one at all but was just wondering if you think I should get one just for the future? My mum says that I dont need one and shouldnt get one and that when trying to get a mortgage a lot of people will be in the same position as me?
I dont have a mobile phone contract either so no credit statement on that either.

I know Im making it sound as if a credit card is a big scarey thing but Ive always just been taught to stay away!

Sorry if Im rambling and my query sounds daft would just be glad to hear your opinions!

Blacksheep1979

If you can control your spending then yes it's a good idea - if they give you a credit limit of more than you're happy with just ask them to reduce it.

aqueoushumour01

you should get a credit card while you can so that you can establish a credit history - I applied for my first one after uni and was turned down as i had no credit history (no overdrafts or anything). I have since got one with a very small monthly spend limit despite having a good job but it's a start - i plan to use it a couple of times just to start getting a (good) credit rating as it may help me one day (mortgage etc..)

someone

Wow, this was the same question i was going to ask.

Basically just back from 1st year of uni and going to be driving a bit. It seems alot of the petrol stations near me have be caught in stealing card details, I just don't want to use my debit card cause its my money thats at risk. I also use my debit card online alot which would probably be better with a credit card for the same reason.

My parents have always used cards like charge cards and have the balance paid by direct debit and I have never known them to ever pay any interest. I am currently using my student current account like this as well (just at the OD limit).

Is there any good cards for students?

Peter2006

Personally I'd say get a credit card, providing you're not going to spend recklessly on it (or if you are, you know & are prepared to pay it off at the end of the month) and you have the discipline to send off the cheque or do the online transfer once a month to pay it off.

Probably worth having a look at the CC section on here to see which is best. I've got a Barclaycard (which I no longer use) as it came with my student account, plus I earnt Nectar points (even though they're a bit useless). When they stopped doing Nectar points I switched to the Amazon Mastercard, as I got a £15 voucher when taking it out and now earn points towards Amazon vouchers. Can recommend it, but have a look on here and see if another card has better rewards/cash back opps which may suit you more.

Lokolo

Everyone says stay away because its human nature to spend money! If you can control it then its fine, I know I wouldn't be able to (hence why I haven't got one!!).

If you want one, good, go for it. But do make sure you can handle it!!!

JohnDep_2

Got one a few months back, definatly helped me realise how much I spent monthly!

Pay it off monthly, hopefully this means when i come to buy a new car in a few years i should get a good deal on 0% finance (leading up to good credit rating so I can get a decent mortgage)

HC_2

Yes, get one. It will improve your credit rating, as mentioned by others.

Make sure that it's one that gives you a benefit: John Lewis or M&S vouchers, or cashback, etc.

Use it for all your spending, meaning that your cash can spend the month in a high-interest account until you pay it all off at the end of the month.

Never ever use it for things you can't afford.

If you think you can't do any of the above, stick with a debit card till you can.

someone

Just a heads up

I've posted the question of what's the best card for students in the credit card forum. Link

melancholly

you may find that you can't be that picky with your first credit card - going for benefits is great, but cards for students usually have very nasty APRs and not many selling points! often you need to get one associated with a student current account and then after a year or so when you have a good history, you can start going for the good offers.

celticfcz

Thank you for all your replies.
After some reasoning I have decided Im just going to go for it and get one - and obviously not go ridiculous with it but I am usually pretty careful with my money so hopefully that wont happen!
Thanks for the link someone I will be sure to check out that thread, I was thinking of the Amazon card like Peter2006 as I do have Uni books to buy and often buy from Amazon so it would be perfect to earn points to spend on there.