Credit card

[Deleted member 294929]

I've never had a credit card. Silly of me really as I believe there are great benefits in having one.

My bank have asked if I want to apply and I suppose for starters that is a good place to start.

Are there good & bad ones to go for?

 

[Trazor]

https://www.moneysupermarket.com/credit-cards/

 

[Stivino]

I'm just about to leave the house to go talk to my bank about my credit card, which I have with the same bank as I have my main account.
Having it in the same bank mankes it easier for me when I have a queery that I want to resolve.

 

[Brigadier]

Mine was cloned and added to a mobile phone wallet on Monday.

I had a spate of phishing calls afterwards, trying to get security details out of me "so they could send me a new card".

They kept calling even after I'd told them to do one, to the point where I had to switch my phone off (I couldn't get to the settings, because they kept calling back).

CC company told me they were still trying multiple spend attempts into Wednesday (lady was watching it happen as we were speaking).

So, new CC on way.

 

[diy_fun_uk]

I've just always had one with my main bank. I'm not sure if it's still entirely true, however it certainly used to be the case that purchases made via credit card offered you more protection if something went wrong with the purchase e.g. scam, product/service not received.

 

[Deleted member 294929]

I've just always had one with my main bank. I'm not sure if it's still entirely true, however it certainly used to be the case that purchases made via credit card offered you more protection if something went wrong with the purchase e.g. scam, product/service not received.

That's what I think the benefits of buying online with a credit card

 

[Deleted member 294929]

Mine was cloned and added to a mobile phone wallet on Monday.

I had a spate of phishing calls afterwards, trying to get security details out of me "so they could send me a new card".

They kept calling even after I'd told them to do one, to the point where I had to switch my phone off (I couldn't get to the settings, because they kept calling back).

CC company told me they were still trying multiple spend attempts into Wednesday (lady was watching it happen as we were speaking).

So, new CC on way.

I'm just about to leave the house to go talk to my bank about my credit card, which I have with the same bank as I have my main account.
Having it in the same bank mankes it easier for me when I have a queery that I want to resolve.

This what I'm thinking. Stick with my bank until I understand more about them.

 

[Deleted member 294929]

If I pay off my CC monthly on time do I pay interest?

 

[Deleted member 294929]

This it what Lloyd's are offering me.

I'm really not sure what good for me apart from the first one has no foreign exchange fees. I'm going Israel and France this summer

 

[big-all]

If I pay off my CC monthly on time do I pay interest?

***yes*** from date off purchase
****correction pay in full no charge***

 

[Ivor Windybottom]

If you can find one, get one that offers cashback or some other perks.

Also set up a direct debit to pay it off in full every month. It's should be easy with any, usually done via their website after you log in. Then you don't have to remember to do anything and will never pay late payment charges or interest.

We've been doing this for years, basically everything goes onto the credit card and it gets paid off in full automatically every month. If I buy something today I'll pay for it on 1st July. I pay no interest or fees, and they pay me cashback, which has amounted to many £100s over the years.

I get 1% cashback on my business card, the personal one is 1.5% supermarket or petrol, 0.5% on everything else. Basically free money, at the retailer's expense, they indirectly pay for it via their transaction fees, of course the banks never lose.

Plus, as stated above, the consumer protection for buying on a credit card is better than on a debit card.

 

[Ivor Windybottom]

There is absolutely no advantage to getting one from the bank your current account is with. I use four banks - current account and credit cards for both business and personal. This is not an issue, direct debits take care of everything.

If you're financially organised then you do not need to care about what their interest rate is, as you'll never pay any interest.

Get cashback!

 

[big-all]

i have an asda credit card 1% cashbach on asda purchases repayment due 24th off the month
amex card for all other purchase 0.5% cashback payment day 7th spreads the load pay in full by d/d
no fees abroad means nothing iff poor exchange rate

 

[gas112]

If I pay off my CC monthly on time do I pay interest?

no if you pay the total balance then you do not pay interest
One of the good benefits is if you buy anything expensive providing you pay over 100 quid of it with the credit card then the whole purchase is covered by credit card company if something goes wrong

 

[motorbiking]

Some credit cards have a monthly fee and you offset this with the cash back/benefits. Generally they are good.