bryanc(Competent) posted this on Wednesday, 22nd February 2012, 04:04
i need some help please. i have not had a credit card, i have had accounts but not a credit card. just not needed one to be honest. but i am looking to purchase a few items so am looking into the prospect of getting one. this is where i need the help. as i have not had one, i know nothing about them, except for what i have read. to be honest i have got myself a little confused reading this and that so i thought i should just come out and ask.
i will only be looking to use the card a few times, can i do that? only use it to buy something then stop it?, just for the purchases then pay them off. i don`t know the amounts yet but i would guess under £800 in total. i just don`t know what a lot of the stuff means ( i am ok with figures etc i use direct debits.. ) i need to know simply what i should be looking for. which card would be better for what i need. even things like paying it off etc. i just need it laid out if you like. i find i grasp things better that way. many thanks.
Are you looking to pay it off straight away? Or are you looking to pay it off over a period of time.
"Talking`s for lesbians" Psycho Paul 2011.
RE: credit card help
bowfer(Elite) posted this on Wednesday, 22nd February 2012, 09:37
MBNA are doing a card with 0% on purchases for 3 months. It`s called the `Fluid` card. Even if you don`t plan to pay off all the £800 in 3 months, you could pay as much as you can in that time and then the balance will just be at a normal APR.
You then get a card with 0% on balance transfers for as long as possible and move the balance over.
"Talking`s for lesbians" Psycho Paul 2011.
RE: credit card help
Jimbo :oÞ(Elite Donator) posted this on Wednesday, 22nd February 2012, 10:23
Quote: bowfer says... MBNA are doing a cardThey do ****loads and are the biggest scheisters out there. Most of those rate jacked are on MBNA backed/underwritten cards including myself with a Virgin card which was soon closed after it`s initial "interest free" period and subsequent balance transfer that they jacked the rate within the period (without notice saying they did) followed by another after I moved the balance then used their next IF offer on a transfer to move it back, cancelling the card it was from.
Then they jacked that one to try and hit me with (wait for it....) 30.1% Yeah, higher than a store card and I just laughed at the guy trying to stop me closing it on the phone, needless to say it was cleared soon after and closed permanently.
Jimbo : oÞ
"There`s that word again... is there a problem with the Earth`s gravitational pull in the future?"
RE: credit card help
bowfer(Elite) posted this on Wednesday, 22nd February 2012, 10:42
I`ve never had a problem with MBNA.
RE: credit card help
bryanc(Competent) posted this on Thursday, 23rd February 2012, 03:51
thanks. i would be looking to pay it off over a period of time. as i say i have some purchases to make and this was one option to be able to do it know. i have very little experience of these things so don`t want to get one until i know exactly what i need to do/look out for.
things like paying back each month. if i spend say £800 in total what would i pay back each month. sorry to sound a little vague maybe but my account know is just a current account. having done a little reading on the website for the bank i use to see what their credit card offers are, to be honest i was getting a little lost which is why i am hoping someone can explain/walk me though this.
the details they say are, 0% on purchases for first 6months, Representative 11.9% APR interest charged from the date of the transaction. i don`t know what this actually means, although when it`s explained i probably will. i have seen some others on various compare websites saying 0% for 12/15 months etc. i don`t have any preference, it doesn`t have to be from my bank.
many thanks.
RE: credit card help
Paull(Elite) posted this on Thursday, 23rd February 2012, 07:47
Have you been offered a credit card? You may find it harder to get a credit card than you think.
RE: credit card help
RJS(undefined) posted this on Thursday, 23rd February 2012, 11:09
Generally, credit cards are handy if you can pay them off in their entirety every month. As a way of borrowing money they are the most expensive by far.
bowfer(Elite) posted this on Thursday, 23rd February 2012, 11:20
If the OP is only `borrowing` £800, I can`t see much better option than a credit card. Bank loans for that amount are practically non-existent, or a very high APR. He may be able to negotiate a temporary overdraft, but that will undoubtedly have fees too. Really, for only £800, a credit card with 0% on purchases for a few months is as good as it gets. Alternatively, he buys the equipment from a shop doing 0% finance for a year etc.
