# Credit Cards



## SootyNicko (Nov 11, 2006)

Hi,

Up to now I've never had a credit card but I'm considering getting one.

I'm mainly looking for advice and opinions on the advantages of having a credit card over a debit card.

I would pay of the balance in full every month on the majority of occasions (effectively using it as a debit card) so the main advantages I would be looking for are the protection or cashback / reward schemes. 

Someone told me that having a credit card could help with getting a mortgage in the future but I don't know how much truth there is in that. 

If anybody has any opinions / recommendations please feel free to contribute I would also welcome information from people that have and use credit cards.

Thanks


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## robj20 (Jan 20, 2009)

I have one with the Halifax same as all my other accounts makes paying it online very easy.

Difference wise, when iv had money spent on debit card halifax sort it but it takes a few days to get money back.
Cred card the money is back by the time i get off the phone. Also more security for getting your money back.


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## Matt. (Aug 26, 2007)

Yes it does help increase your credit rating.

try and get one with something like 9 months intrest free.


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## buckas (Jun 13, 2008)

Main reason I use credit card instead is fraud, would rather someone else spend the money on the CC rather than my debit card!

Happened, not happening again!


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## Gruffs (Dec 10, 2007)

Tesco credit card with clubcard points.

If you shop at Tesco, get your fuel there and use your credit card everywhere else, it can make a hell of a difference.


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## Ducky (Mar 19, 2007)

Have to agree a CC is good for protection and beats someone emptying your current account via cloning your debit card! :thumb:


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## Exotica (Feb 27, 2006)

Tesco credit card are doing 0% for nine months or if you use it like a debit card( instruct CC company to take full amount every month then get one with cashback although some have a annual fee.


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## shane_ctr (Dec 17, 2006)

SootyNicko said:


> Hi,
> 
> Up to now I've never had a credit card but I'm considering getting one.
> 
> ...


There are very right indeed, My friend has a very good Job and is only 22, He has never needed to borrow any money, so no loans no credit cards etc, Always had a pay as you go mobile so no direct debits, He had saved money for a deposit for a home and he was declined due to a bad credit rating, There told him get himself a credit card and it will go up.

I have a contract phone, Got a loan for a car, now all payed off, I also have a credit card for day to day which i pay of monthly, and my credit score is 999 excellent,

Sounds crazy i know but it shows that to be able to get money you need to be able to show you can pay it back and the only way you can do that is by having some debt:thumb:


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## PaulN (Jan 17, 2008)

shane_ctr said:


> There are very right indeed, My friend has a very good Job and is only 22, He has never needed to borrow any money, so no loans no credit cards etc, Always had a pay as you go mobile so no direct debits, He had saved money for a deposit for a home and he was declined due to a bad credit rating, There told him get himself a credit card and it will go up.
> 
> I have a contract phone, Got a loan for a car, now all payed off, I also have a credit card for day to day which i pay of monthly, and my credit score is 999 excellent,
> 
> Sounds crazy i know but it shows that to be able to get money you need to be able to show you can pay it back and the only way you can do that is by having some debt:thumb:


Its not crazy, Why would a Mortgage lender lend money to someone who has never shown they can pay money back?

Im in the 999 gang too 

Cheers

PaulN


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## Maggi200 (Aug 21, 2009)

Exotica said:


> Tesco credit card are doing 0% for nine months or if you use it like a debit card( instruct CC company to take full amount every month then get one with cashback although some have a annual fee.


Wouldn't there be no interest on a card with no balance like that anyway? Hardly an offer


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## Dixondmn (Oct 12, 2007)

A CC comes into its own when buying stuff online, you get extended warranty on electrical items, its covered by fraud prevention etc, it covers items lost during delivery too.

well worth it imo.
Barclaycard for the win!!.. if only for their adverts! ha ha


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## Maggi200 (Aug 21, 2009)

Doesn't this cover only cover items purchsed that cost more than £100 and less than a few thousand though?


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## RedUntilDead (Feb 10, 2009)

I usually checkout moneysavingexpert and see what Martins best cards are.
Depending on your circumstances and your needs you can decide what works best for you i.e consoladate existing dept - card with low fee and long 0% interest offer. Or pay balance every month then you may be best with a card with a reward scheme.
I have and always will card tart:thumb:
Its very easy to spend money you havent got so maybe keep a low credit limit to help keep a grip


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## vickky453 (Feb 27, 2009)

Ive also got the tesco credit card, i buy my fuel in tesco, whenever I spend money in tesco, I use my card. I Get bout £30 worth of vouchers every month  I got it when there was 13 months interest free aswell :O


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## CliveP (Feb 1, 2009)

If you're going to pay your credit card off in full each month (which is the best way to live in my opinion, no point in getting into a habit of 'debt', even if it is at 'zero' percent), then go for the best reward you can find, as interest rate on the card is irrelevant as you always pay off the balance. I have a card which pays 1% cashback on all my spend so it's like a bonus for nothing. I also don't have an annual fee, but I don't think you'll find 1% cashback with no annual fee nowadays. 

As said above Martin Lewis moneysavingexpert is the best site by far, it receives no income from adveritising products which means it is truely independent and best advice.

Regards,
Clive.


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## vickky453 (Feb 27, 2009)

I check this now and again

http://www.beatthatquote.com/credit-cards/top-credit-cards.html

from the website

www.thisismoney.co.uk


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## The Cueball (Feb 8, 2007)

PaulN said:


> Its not crazy, Why would a Mortgage lender lend money to someone who has never shown they can pay money back?


Maybe that person has never needed credit 

This country is pathetic when it comes to credit...someone I know has a great credit rating, earns only £20k a year, but has over £50k of debt...oooh but they can may the BARE minimum back every month - but has to beans and toast every night for dinner (I'm not joking), so they are a better risk, than someone who earns over 5 times that amount, but has not one bit of credit... bar a mortgage...

The credit system has been set up to attack, confuse and basically destroy the poor, stupid and weak...

:thumb:


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## who45 (Feb 8, 2008)

paying the bare minimum will maximise the credit rating 

personnally i will now avoid a credit card. if you cant afford it dont buy it until you can is my motto now, have it for emergencies, or to be covered when you want to protect yourself over the internet, or for going abroad.

but bear in mind you need to be very strong willed not to walk into a shop and think oh ill buy the 3dtv on the credit card.

before you know it your limit is being hiked up by the bank simply encouraging you - so bear in mind if your not a strong willed person dont do it is my advice - i have now 6k of debt, struggling to clear that and they gave me a whopping 14k limit as i was making my minimum payments, my credit rating is 1 number off the maximum rating too............simply because i have made minimum payments over 6 years.

so just do it only if you need it - and you can resist that tv, those detailing goods etc then have one - you have to have alot of will power with a flexible friend as it gets out of control very easily

ok 6k isnt alot of debt - but i live alone and have no savings so to me its like a silly high amount - and i stopped before it got out of hand - even giving the cards to my parents so i didnt use them, esp now as im out of work - so that 6k debt feels like 16 to me now


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## PaulN (Jan 17, 2008)

The Cueball said:


> Maybe that person has never needed credit
> 
> This country is pathetic when it comes to credit...someone I know has a great credit rating, earns only £20k a year, but has over £50k of debt...oooh but they can may the BARE minimum back every month - but has to beans and toast every night for dinner (I'm not joking), so they are a better risk, than someone who earns over 5 times that amount, but has not one bit of credit... bar a mortgage...
> 
> ...


Come on wake up. It's about making money too. If you've never borrowed money they have no idea what you will do when you do borrow.

If someone just makes the payments then it's happy days for the credit card companies, but I can assure you just because people have good credit ratings mean they can't afford things or JUST making the payments.

You can make interest free offers work for you.

PaulN


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## The Cueball (Feb 8, 2007)

PaulN said:


> Come on wake up. It's about making money too. If you've never borrowed money they have no idea what you will do when you do borrow.
> 
> If someone just makes the payments then it's happy days for the credit card companies, but I can assure you just because people have good credit ratings mean they can't afford things or JUST making the payments.
> 
> ...


I think you are misunderstanding my issues.... 

I have no problems with credit....just the idiots that don't know how to work it, or realise that - as you have pointed out - companies are there to make money, not look after them...

I am sick to the back teeth of people in this country taking no responsibility for themselves and wanting to blame every sales person in the country (yes, that's what banks are as well, sales)

It's long passed time people grew up and lived within their means (credit or no credit)...

:thumb:


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## Dixondmn (Oct 12, 2007)

Is it just me that feel absolutely SICK to think i'm paying more than i have to for goods or services on credit.

Even my mortgage, every spare pound goes on the mortgage at the end of the month


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