Change ForumGeneral Forum - credit card help - Page 1
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Competent
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.
Elite
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.
Elite
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.
Elite
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.
Elite Donator
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?"
Elite
I've never had a problem with MBNA.
Competent
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.
Elite
Have you been offered a credit card? You may find it harder to get a credit card than you think.
Super Admin
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.
This site might help you:
http://www.moneysavingexpert.com/loans/cheap-personal-loans
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Elite
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.